Common use of Remedies of the Authority Clause in Contracts

Remedies of the Authority. In the event of any default referred to in Section 22 of this Contract, the Authority shall have, in addition to any other rights or remedies it may have under law, the following rights and remedies: (a) the Authority may bring any suit, action, or proceedings in law or in equity, including any special action for specific performance, as may be necessary and appropriate in the sole discretion of the Authority to enforce against the Customer any covenant, agreement or obligation for which provision is made in this Contract; (b) the Authority may, at any time upon fifteen (15) days written notice to the Customer, cease and discontinue delivering or making available for delivery Xxxxxx Capacity Xxxxxx Energy, or Xxxxxx C Energy to the Customer so long as such default shall continue; provided, however, that any such cessation and discontinuance shall not relieve the Customer of any obligation under this Contract, including the obligation to pay amounts due on and prior to the date of such cessation and discontinuance and provided further that if the Authority has not terminated this Contract pursuant to subsection (c) below and if the Customer pays all amounts due hereunder, including all late payments, or performs all other obligations to be performed under this Contract then the Authority shall reinstate delivery of Xxxxxx Capacity, Xxxxxx Energy, and Xxxxxx C Energy to the Customer; and (c) whether or not the Authority shall have ceased and discontinued delivering or making available for delivery Xxxxxx Capacity, Xxxxxx Energy, or Xxxxxx C Energy pursuant to clause (b) above, if an event of default described in Section 22 shall continue for sixty (60) days, the Authority may at any time thereafter while such default shall be continuing, upon written notice to the Customer, terminate this Contract: provided, however, that any such termination shall not relieve the Customer of the obligation to pay any amounts required to be paid under this Contract with respect to any amounts due on and prior to such date of such termination or the date the delivery of Xxxxxx Capacity, Xxxxxx Energy, and Xxxxxx C Energy was discontinued pursuant to subsection (b) above if such date of discontinuance was earlier than the date of termination.

Remedies of the Authority. In the event of any default referred to in Section 22 18 of this Contract, the Authority shall have, in addition to any other rights or remedies it may have under law, the following rights and remedies: (a) the Authority may bring any suit, action, or proceedings in law or in equity, including any special action for specific performance, as may be necessary and appropriate in the sole discretion of the Authority to enforce against the Customer any covenant, agreement or obligation for which provision is made in this Contract; (b) the Authority may, at any time upon fifteen (15) days written notice to the Customer, cease and discontinue delivering or making available for delivery Xxxxxx Capacity and Xxxxxx Energy, or Xxxxxx C Energy to the Customer so long as such default shall continue; provided, however, that any such cessation and discontinuance shall not relieve the Customer of any obligation under this Contract, including the obligation to pay amounts due on and prior to the date of such cessation and discontinuance and provided further that if the Authority has not terminated this Contract pursuant to subsection (c) below and if the Customer pays all amounts due hereunder, including all late payments, or performs all other obligations to be performed under this Contract then the Authority shall reinstate delivery of Xxxxxx Capacity, Xxxxxx Energy, Capacity and Xxxxxx C Energy to the Customer; and (c) whether or not the Authority shall have ceased and discontinued delivering or making available for delivery Xxxxxx Capacity, Capacity and Xxxxxx Energy, or Xxxxxx C Energy pursuant to clause (b) above, if an event of default described in Section 22 18 shall continue for sixty (60) days, the Authority may at any time thereafter while such default shall be continuing, upon written notice to the Customer, terminate this Contract: provided, however, that any such termination shall not relieve the Customer of the obligation to pay any amounts required to be paid under this Contract with respect to any amounts due on and prior to such date of such termination or the date the delivery of Xxxxxx Capacity, Xxxxxx Energy, Capacity and Xxxxxx C Energy was discontinued pursuant to subsection (b) above if such date of discontinuance was earlier than the date of termination.

Remedies of the Authority. In the event (a) Whenever any Event of any default Default referred to in Section 22 17 hereof shall have occurred and be continuing, the Authority may take one or more of the following remedial steps: (i) declare the entire principal amount of the Note to be due and payable forthwith, whereupon the note shall become forthwith, due and payable, both as to principal and interest, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, anything contained herein or in the Note to the contrary notwithstanding; (ii) take any action at law or in equity to collect the payments then due and thereafter to become due under the Note or to enforce performance and observance of any obligation, agreement or covenant of the Borrower under this ContractDirect Loan Agreement; (iii) take possession of the Borrower's interest in the Collateral without terminating this Direct Loan Agreement, and pursue remedies of a creditor under the Uniform Commercial Code and assign, sell or lease, or otherwise dispose of the Borrower's interest in the collateral for the account of the Borrower, and the Borrower shall then be liable for the difference between the loan payments and other amounts due under this Direct Loan Agreement and the Note and amounts received pursuant to such assignment or contract of sale or lease or other disposition of the borrower's interest in the Collateral and the amount of such difference shall then be immediately due and payable. The Borrower hereby agrees that in the event the Authority does take possession of the Collateral as provided herein, the obligation of the Borrower to pay such loan payments due or to become due under this Direct Loan Agreement and Note shall survive such repossession; (iv) without further notice or demand or legal process, enter upon any premises of the Borrower and take possession of the Collateral, all records and items relating to the Collateral and, at the Authority's request, the Borrower will assemble the Collateral and such records and deliver them to the Authority; (v) sell the Collatral but the Authority shall give the Borrower reasonable notice of the time and place of any public sale of such Collateral or of the time after which any private sale or other intended disposition thereof is to be made. The requirement of reasonable notice shall be met if notice of the sale or other intended disposition is (1) mailed (by certified mail, postage paid) to the Borrower at least ten (10) days prior to the time of such sale or disposition or (2) delivered to the Borrower at least five (5) days prior to the time of such sale or disposition. At such sale the Authority may sell the Collateral for cash or upon credit or otherwise, at such prices and upon such terms as it deems advisable and the Authority may bid or become purchaser at such sale, free of the right of redemption, which is hereby waived. The Authority may adjourn such sales at the time and place fixed therefor without further notice or advertisement and may sell such Collateral as an entirety or in separate lots as it deems advisable, but the Authority shall not be obligated to sell all or any part of such Collateral at the time and place fixed for such sale if it determines not to do so. Upon the institution of any such action hereunder by the Authority, the Authority shall have, in addition be entitled to any other rights or remedies it may have under law, the following rights and remedies: (a) appointment of a receiver for the Authority may bring any suit, action, or proceedings in law or in equity, including any special action for specific performance, as may be necessary and appropriate in the sole discretion Collateral without proof of the Authority to enforce against depreciation of the Customer any covenant, agreement or obligation for which provision is made in this Contract;value of same. (b) the Authority may, at any time upon fifteen (15) days written notice to the Customer, cease and discontinue delivering or making available for delivery Xxxxxx Capacity Xxxxxx Energy, or Xxxxxx C Energy to the Customer so long as such default shall continue; provided, however, that any such cessation and discontinuance shall not relieve the Customer of any obligation under this Contract, including the obligation to pay amounts due on and prior to the date of such cessation and discontinuance and provided further that if the Authority has not terminated this Contract pursuant to subsection (c) below and if the Customer pays all amounts due hereunder, including all late payments, or performs all other obligations to be performed under this Contract then If the Authority shall reinstate delivery of Xxxxxx Capacityhave proceeded to enforce its rights under this Direct Loan Agreement and such proceedings shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Authority, Xxxxxx Energythen the Borrower and the Authority shall be restored respectively to their several positions and rights hereunder, and Xxxxxx C Energy to all rights, remedies and powers of the Customer; andBorrower and the Authority shall continue as though no such proceedings had taken place. (c) whether Without limiting the generality of the foregoing, upon the happening of an Event of Default by the Borrower hereunder, all of the Borrower's right, title and interest in the Project Facility hereunder or in equity and the Borrower's rights to possession thereof may be terminated by an action for foreclosure or repossession in accordance with the statutes of the State of New Jersey. (d) Upon the institution of any such action by the Authority, the Authority shall be entitled to the appointment of a receiver for the Project Facility. (e) No remedy herein conferred or reserved to the Authority is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Direct Loan Agreement or now or hereafter existing at law or in equity or by statute. No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver thereof, but any such right and power may be exercised from time to time and as often as may be deemed expedient. In order to entitle the Authority to exercise any remedy reserved to it in this Section, it shall not be necessary to give notice other than such notice as may be required in this Section. (f) In addition to the above remedies, if the Borrower commits a breach, or threatens to commit a breach of this Direct Loan Agreement, the Authority shall have ceased the right and discontinued delivering remedy, without posting bond or making available for delivery Xxxxxx Capacityother security, Xxxxxx Energyto have the provisions of this Direct Loan Agreement specifically enforced by any court having equity jurisdiction, or Xxxxxx C Energy pursuant to clause (b) above, if an event of default described in Section 22 shall continue for sixty (60) days, the Authority may at any time thereafter while such default shall be continuing, upon written notice to the Customer, terminate this Contract: provided, however, it being acknowledged and agreed that any such termination breach or threatened breach will cause irreparable injury to the Authority and that money damages will not provide an adequate remedy therefor. (g) In the event the Borrower should default under any of the provisions of this Direct Loan Agreement and the Authority shall require and employ attorneys or incur other expenses for the collection of payments due or to become due for the enforcement or performance or observance of any obligation or agreement on the part of the Borrower herein contained, the Borrower shall on demand therefor pay to the Authority, the reasonable fees of such attorneys and other expenses so incurred by the Authority. (h) The Authority shall not relieve the Customer of the obligation to pay any amounts be required to be paid under this Contract with respect do any act whatsoever or exercise any diligence whatsoever to any amounts due on and prior mitigate the damages to such date the Borrower if an Event of such termination or the date the delivery of Xxxxxx Capacity, Xxxxxx Energy, and Xxxxxx C Energy was discontinued pursuant to subsection (b) above if such date of discontinuance was earlier than the date of terminationDefault shall occur hereunder.

Remedies of the Authority. In the event of any default referred to in Section 22 of this Contract, the Authority shall have, in addition to any other rights or remedies it may have under law, the following rights and remedies: (a) the Authority may bring any suit, action, or proceedings in law or in equity, including any special action for specific performance, as may be necessary and appropriate in the sole discretion of the Authority to enforce against the Customer any covenant, agreement or obligation for which provision is made in this Contract; (b) the Authority may, at any time upon fifteen (15) days written notice to the Customer, cease and discontinue delivering or making available for delivery Xxxxxx Capacity Xxxxxx Energy, or Xxxxxx C and Energy to the Customer so long as such default shall continue; provided, however, that any such cessation and discontinuance shall not relieve the Customer of any obligation under this Contract, including the obligation to pay amounts due on and prior to the date of such cessation and discontinuance and provided further that if the Authority has not terminated this Contract pursuant to subsection (c) below and if the Customer pays all amounts due hereunder, including all late payments, or and/or performs all other obligations to be performed under this Contract then the Authority shall reinstate delivery of Xxxxxx Capacity, Xxxxxx Energy, Capacity and Xxxxxx C Energy to the Customer; and (c) whether or not the Authority shall have ceased and discontinued delivering or making available for delivery Xxxxxx Capacity, Xxxxxx Energy, or Xxxxxx C Capacity and Energy pursuant to clause (b) above, if an event of default described in Section 22 shall continue for sixty (60) days, the Authority may at any time thereafter while such default shall be continuing, upon written notice to the Customer, terminate this Contract: provided, however, that any such termination shall not relieve the Customer of the obligation to pay any amounts required to be paid under this Contract with respect to any amounts due on and prior to such date of such termination or the date the delivery of Xxxxxx Capacity, Xxxxxx Energy, Capacity and Xxxxxx C Energy was discontinued pursuant to subsection (b) above if such date of discontinuance was earlier than the date of termination.

Remedies of the Authority. In the event of any default referred to in Section 22 23 of this Contract, the Authority shall have, in addition to any other rights or remedies it may have under law, the following rights and remedies: (a) the Authority may bring any suit, action, or proceedings in law or in equity, including any special action for specific performance, as may be necessary and appropriate in the sole discretion of the Authority to enforce against the Customer any covenant, agreement or obligation for which provision is made in this Contract; (b) the Authority may, at any time upon fifteen (15) days written notice to the Customer, cease and discontinue delivering or making available for delivery Xxxxxx Capacity and Xxxxxx Energy, or Xxxxxx C Energy to the Customer so long as such default shall continue; provided, however, that any such cessation and discontinuance shall not relieve the Customer of any obligation under this Contract, including the obligation to pay amounts due on and prior to the date of such cessation and discontinuance and provided further that if the Authority has not terminated this Contract pursuant to subsection (c) below and if the Customer pays all amounts due hereunder, including all late payments, or performs all other obligations to be performed under this Contract then the Authority shall reinstate delivery of Xxxxxx Capacity, Xxxxxx Energy, Capacity and Xxxxxx C Energy to the Customer; and (c) whether or not the Authority shall have ceased and discontinued delivering or making available for delivery Xxxxxx Capacity, Capacity and Xxxxxx Energy, or Xxxxxx C Energy pursuant to clause (b) above, if an event of default described in Section 22 23 shall continue for sixty (60) days, the Authority may at any time thereafter while such default shall be continuing, upon written notice to the Customer, terminate this Contract: provided, however, that any such termination shall not relieve the Customer of the obligation to pay any amounts required to be paid under this Contract with respect to any amounts due on and prior to such date of such termination or the date the delivery of Xxxxxx Capacity, Xxxxxx Energy, Capacity and Xxxxxx C Energy was discontinued pursuant to subsection (b) above if such date of discontinuance was earlier than the date of termination.

Remedies of the Authority. In the event (a) Whenever any Event of any default Default referred to in Section 22 15 hereof shall have occurred and be continuing, the Authority may take one or more of the following remedial steps: (i) declare the entire principal amount of the Note to be due and payable forthwith, whereupon the Note shall become forthwith, due and payable, both as to principal and interest, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, anything contained herein or in the Note to the contrary notwithstanding; (ii) take any action at law or in equity to collect the payments then due and thereafter to become due under the Note or to enforce performance and observance of any obligation, agreement or covenant of the Borrower under this ContractLoan Agreement or the Mortgage. (b) If the Authority shall have proceeded to enforce its rights under this Loan Agreement and such proceedings shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Authority, then the Borrower and the Authority shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the Borrower and the Authority shall continue as though no such proceedings had taken place. (c) Without limiting the generality of the foregoing, upon the happening of an Event of Default by the Borrower hereunder, all of the Borrower's right, title and interest in the Project Site hereunder or in equity and the Borrower's rights to possession thereof may be terminated by an action for foreclosure or repossession in accordance with the statutes of the State of New Jersey. (d) Upon the institution of any such action by the Authority, the Authority shall havebe entitled to the appointment of a receiver for the Project Site. (e) No remedy herein conferred or reserved to the Department or the Authority is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to any every other rights remedy given under this Loan Agreement or remedies it may have under law, the following rights and remedies: (a) the Authority may bring any suit, action, now or proceedings in hereafter existing at law or in equityequity or by statute. No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver thereof, including but any special action for specific performance, such right and power may be exercised from time to time and as often as may be necessary and appropriate in the sole discretion of deemed expedient. In order to entitle the Authority or the Department to enforce against the Customer exercise any covenant, agreement or obligation for which provision is made remedy reserved to it in this Contract;Section, it shall not be necessary to give notice other than such notice as may be required in this Section. (bf) the Authority may, at any time upon fifteen (15) days written notice In addition to the Customerabove remedies, cease and discontinue delivering or making available for delivery Xxxxxx Capacity Xxxxxx Energyif the Borrower commits a breach, or Xxxxxx C Energy threatens to the Customer so long as such default shall continue; providedcommit a breach of this Loan Agreement, however, that any such cessation and discontinuance shall not relieve the Customer of any obligation under this Contract, including the obligation to pay amounts due on and prior to the date of such cessation and discontinuance and provided further that if the Authority has not terminated this Contract pursuant to subsection (c) below and if the Customer pays all amounts due hereunder, including all late payments, or performs all other obligations to be performed under this Contract then the Authority shall reinstate delivery of Xxxxxx Capacity, Xxxxxx Energy, and Xxxxxx C Energy to the Customer; and (c) whether or not the Authority shall have ceased the right and discontinued delivering remedy, without posting bond or making available for delivery Xxxxxx Capacityother security, Xxxxxx Energyto have the provisions of this Loan Agreement specifically enforced by any court having equity jurisdiction, or Xxxxxx C Energy pursuant to clause (b) above, if an event of default described in Section 22 shall continue for sixty (60) days, the Authority may at any time thereafter while such default shall be continuing, upon written notice to the Customer, terminate this Contract: provided, however, it being acknowledged and agreed that any such termination breach or threatened breach will cause irreparable injury to the Authority and that money damages will not provide an adequate remedy therefor. (g) In the event the Borrower should default under any of the provisions of this Loan Agreement and the Authority or the Department shall require and employ attorneys or incur other expenses for the collection of payments due or to become due for the enforcement or performance or observance of any obligation or agreement on the part of the Borrower herein contained, the Borrower shall on demand therefor pay to the Authority, the reasonable fees of such attorneys and other expenses so incurred by the Authority or the Department. (h) The Authority shall not relieve the Customer of the obligation to pay any amounts be required to be paid under this Contract with respect do any act whatsoever or exercise any diligence whatsoever to any amounts due on and prior mitigate the damages to such date the Borrower if an Event of such termination or the date the delivery of Xxxxxx Capacity, Xxxxxx Energy, and Xxxxxx C Energy was discontinued pursuant to subsection (b) above if such date of discontinuance was earlier than the date of terminationDefault shall occur hereunder.