Rights of Non-Defaulting Developer; Replacement Developer Sample Clauses

Rights of Non-Defaulting Developer; Replacement Developer. If the County elects to terminate the Defaulting Developer for such Event of Default in accordance with Section 5.03.C.2 below or to exercise its rights under Section 5.03.C.3 below, the Non- Defaulting Developer may either: (i) elect to pay and perform all of the Defaulting Developer’s obligations in this Agreement for the applicable Phase (e.g. if the Defaulting Developer is Elm Street, Xxxxxxxxx may elect to complete the Infrastructure Component of Phase I per the terms of this Agreement or if the Defaulting Developer is Xxxxxxxxx, Elm Street may elect to complete the Adaptive Re-Use Component of Phase I per the terms of this Agreement); or (ii) identify a duly qualified substitute development partner to replace the Defaulting Developer (a “Replacement Developer”) that is acceptable to the County, in its sole but reasonable discretion, that shall undertake all of the obligations of the Defaulting Developer under this Agreement. The Non-Defaulting Developer shall elect to undertake the cure rights in this Section in its Cure Notice and shall have up to an additional twelve (12) months to effectuate the purposes set forth in this Section. Where an Event of Default relates to an Infrastructure Component and the Non-Defaulting Developer elects to identify a Replacement Developer, then during the additional twelve (12) months it may, in its sole discretion, complete any portion of that Infrastructure Component that is necessary to obtain Residential Use Permits (“RUPs”) or Non-RUPs for an Adaptive Re-Use Component in the same Phase. The Budget and the Development Schedule shall be adjusted accordingly to take into consideration the obligations of the Replacement Developer hereunder and the extension of time to achieve Substantial Completion and Final Completion resulting from this Section and any Replacement Developer must enter into a separate agreement with the County and the Non-Defaulting Developer agreeing to be bound by all of the terms, covenants, conditions and obligations of the Defaulting Developer under this Agreement with respect to the applicable Phase. In the event a Replacement Developer is approved by the County hereunder, any reference in this Agreement to “Developer” shall include the Replacement Developer. If the Non-Defaulting Developer elects to exercise its rights under this Section 5.03.B.3 and undertakes efforts to achieve Substantial Completion of the Adaptive Re-Use Component for a Phase, including any and all portions of the Infras...
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Related to Rights of Non-Defaulting Developer; Replacement Developer

  • Preservation of Rights of Non-Defaulting Party The rights of the Non-Defaulting Party under this Agreement, including without limitation Sections 5.4 and 5.6 of this Agreement, shall be supplemental to, and not in lieu of, any right of recoupment, lien, or set-off afforded by applicable law, and all such rights are expressly preserved for the benefit of the Non-Defaulting Party.

  • Termination; Default If Contractor is in default of any of its obligations under this Contract and has not commenced cure within ten days after receipt of a written notice of default from County and cured such default within the time specified in the notice, the County shall immediately be entitled to either commence resolution in accordance with this paragraph or to terminate this Contract by giving written notice to take effect immediately. Default shall include failure to carry out any of the requirements of this Contract, including, but not limited to not providing enough properly skilled workers or proper materials, persistently disregarding laws and or ordinances, not proceeding with the work as agreed to herein, or otherwise substantially violating any provision of this Contract. Upon termination of the Contract with Contractor, the County may begin negotiations with a third-party Contractor to provide goods and/or services as specified in this Contract. The right of either party to terminate this Contract hereunder shall not be affected in any way by its waiver of or failure to take action with respect to any previous default.

  • Developer Default Each of the following shall be an Event of Default by Developer:

  • Termination Upon Default Either Party may terminate this Agreement in whole or in part in the event of a default by the other Party; provided however, that the non-defaulting Party notifies the defaulting party in writing of the alleged default and that the defaulting Party does not cure the alleged default within sixty (60) calendar days of receipt of written notice thereof. Default is defined to include:

  • Termination for Concessionaire Default 37.1.1 Save as otherwise provided in this Agreement, in the event that any of the defaults specified below shall have occurred, and the Concessionaire fails to cure the default within the Cure Period set forth below, or where no Cure Period is specified, then within a Cure Period of 60 (sixty) days, the Concessionaire shall be deemed to be in default of this Agreement (the “Concessionaire Default”), unless the default has occurred solely as a result of any breach of this Agreement by the Authority or due to Force Majeure. The defaults referred to herein shall include:

  • Termination on Material Default 30.2.1 The Authority may terminate this Framework Agreement for material Default by issuing a Termination Notice to the Supplier where:

  • Termination on Default The Authority may terminate this Framework Agreement by serving written notice on the Supplier with effect from the date specified in such notice where the Supplier commits a Material Default and if:

  • Rights on Default On the occurrence of an Event of Default, we may exercise our rights under this clause, except that in the case of the occurrence of any Event of Default specified in paragraphs (b) or (c) of the definition of Events of Default (each a "Bankruptcy Default"), the automatic termination provision of this clause shall apply.

  • EVENTS OUTSIDE OUR CONTROL 7.1 We will not be liable or responsible for any failure to perform, or delay in performance of, any of Our obligations under these Terms that is caused by an Event Outside Our Control.

  • H2 Termination on Default H2.1 The Authority may terminate the Contract by written notice in accordance with clause A5.2 (Notices) to the Contractor with immediate effect if the Contractor commits a Default and if:

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