Common use of Remedies of Development Clause in Contracts

Remedies of Development. Upon the occurrence of any one or more of Event of Default by the Lender which remains uncured following notice from Development to the Lender and the applicable cure period under this Enhancement Agreement, in addition to all rights and remedies created by this Enhancement Agreement, Development shall be entitled to pursue and enforce all rights and remedies available to Development, legal and equitable, including without limitation, the right of termination, recoupment, and the right to require the Lender’s books and records related to the Loan, Loan Documents and this Enhancement Agreement to be separately audited by an independent certified public accountant selected by Development, at Development’s sole cost and expense. Provided however, in the event the audit reveals a breach of this Enhancement Agreement or the Loan Documents has occurred, the Lender shall reimburse Development for the fees and expenses incurred to perform the audit. No remedy is intended to be the sole and exclusive remedy in case any Event of Default by the Lender under this Enhancement Agreement shall occur and each remedy shall be cumulative and in addition to every other provision or remedy now or later existing at law, in equity, by statute or otherwise. All remedies shall be cumulative. The Lender shall pay all costs and expenses, including, without limitation, reasonable attorney’s fees and expenses incurred by Development in enforcing any obligation of the Lender arising from or under the Loan, any of the Loan Documents, or this Enhancement Agreement.

Remedies of Development. Upon the occurrence of any one or more of Event of Default by the Lender which remains uncured following notice from Development to the Lender and the applicable cure period under this Enhancement Deposit Agreement, in addition to all rights and remedies created by this Enhancement Deposit Agreement, Development shall be entitled to pursue and enforce all rights and remedies available to Development, legal and equitable, including without limitation, the right of termination, recoupment, and the right to require the Lender’s books and records related to the Loan, Loan Documents documents and this Enhancement Deposit Agreement to be separately audited by an independent certified public accountant selected by Development, at Development’s sole cost and expense. Provided however, in the event the audit reveals a breach of this Enhancement Deposit Agreement or the Loan Documents has occurred, the Lender shall reimburse Development for the fees and expenses incurred to perform the audit. No remedy is intended to be the sole and exclusive remedy in case any Event of Default by the Lender under this Enhancement Deposit Agreement shall occur and each remedy shall be cumulative and in addition to every other provision or remedy now or later existing at law, in equity, by statute or otherwise. All remedies shall be cumulative. The Lender shall pay all costs and expenses, including, without limitation, reasonable attorney’s fees and expenses incurred by Development in enforcing any obligation of the Lender arising from or under the Loan, any of the Loan Documentsdocuments, or this Enhancement Deposit Agreement.

Remedies of Development. Upon the occurrence of any one or more of Event of Default by the Lender which remains uncured following notice from Development to the Lender and the applicable cure period under this Enhancement Agreement, in addition to all rights and remedies created by this Enhancement Agreement, Development shall be entitled to pursue and enforce all rights and remedies available to Development, legal and equitable, including without limitation, the right of termination, recoupment, and the right to require the Lender’s books and records related to the Loan, Loan Documents documents and this Enhancement Agreement to be separately audited by an independent certified public accountant selected by Development, at Development’s sole cost and expense. Provided however, in the event the audit reveals a breach of this Enhancement Agreement or the Loan Documents documents has occurred, the Lender shall reimburse Development for the fees and expenses incurred to perform the audit. No remedy is intended to be the sole and exclusive remedy in case any Event of Default by the Lender under this Enhancement Agreement shall occur and each remedy shall be cumulative and in addition to every other provision or remedy now or later existing at law, in equity, by statute or otherwise. All remedies shall be cumulative. The Lender shall pay all costs and expenses, including, without limitation, reasonable attorney’s fees and expenses incurred by Development in enforcing any obligation of the Lender arising from or under the Loan, any of the Loan Documentsdocuments, or this Enhancement Agreement.

Remedies of Development. Upon the occurrence of any one or more of Event of Default by the Lender which remains uncured following notice from Development to the Lender and the applicable cure period under this Enhancement Deposit Agreement, in addition to all rights and remedies created by this Enhancement Deposit Agreement, Development shall be entitled to pursue and enforce all rights and remedies available to Development, legal and equitable, including without limitation, the right of termination, recoupment, and the right to require the Lender’s books and records related to the Loan, Loan Documents and this Enhancement Deposit Agreement to be separately audited by an independent certified public accountant selected by Development, at Development’s sole cost and expense. Provided however, in the event the audit reveals a breach of this Enhancement Deposit Agreement or the Loan Documents has occurred, the Lender shall reimburse Development for the fees and expenses incurred to perform the audit. No remedy is intended to be the sole and exclusive remedy in case any Event of Default by the Lender under this Enhancement Deposit Agreement shall occur and each remedy shall be cumulative and in addition to every other provision or remedy now or later existing at law, in equity, by statute or otherwise. All remedies shall be cumulative. The Lender shall pay all costs and expenses, including, without limitation, reasonable attorney’s fees and expenses incurred by Development in enforcing any obligation of the Lender arising from or under the Loan, any of the Loan Documents, or this Enhancement Deposit Agreement.