Special Remedies for Mutual Breach of Warranty Sample Clauses

Special Remedies for Mutual Breach of Warranty. Notwithstanding any other provision of this Agreement, if there exists or occurs any circumstance or event that constitutes or results in a concurrent breach of any of the warranties set forth in this Article 5 by both Developer and TxDOT but does not also constitute or result in any other breach or default by either Party, then the only remedies shall be for the Parties to take action to rectify or mitigate the effects of such circumstance or event, to pursue severance and reformation of the CDA Documents and Principal Project Documents as set forth in Section 35.14 or Termination by Court Ruling as set forth in Section 31.5.
AutoNDA by SimpleDocs
Special Remedies for Mutual Breach of Warranty. ‌ Notwithstanding any other provision of this Agreement, if there exists or occurs any circumstance or event that constitutes or results in a concurrent breach of any of the parallel warranties set forth in this Article 18 by both Developer and IFA but does not also constitute or result in any other breach or default by either Party, then such breaches shall not form the basis for a Relief Event or damage claim by IFA against Developer. Instead, the only remedies shall be for the Parties to take action to rectify or mitigate the effects of such circumstance or event, to pursue severance and reformation of the PPA Documents as set forth in Section 25.13, or Termination by Court Ruling as set forth in Section 20.5 and Exhibit 22 (Early Termination Dates and Terms for Termination Compensation).
Special Remedies for Mutual Breach of Warranty. If any circumstance or event exists or occurs that constitutes or results in concurrent breaches of any of the parallel representations and warranties made pursuant to Part 2, Section 5.1 by the Construction Contractor and the Developer, but which breaches do not also constitute or result in any other breach or default by either Party, including, subject to the passage of time and giving of notice, a Construction Contractor Default or a Developer Default, then: a. such breaches shall not result in a Supervening Event or form the basis for a damages claim by either Party against the other; and b. each Party’s only remedy shall be to: i. take action as permitted under this Agreement to rectify or mitigate the effects of such circumstance or event; ii. if applicable, exercise its rights to pursue severance and/or substitution of any invalid clause, condition, term, provision, section, subsection or part of this Agreement pursuant to Part 2, Section 42.3; iii. Intentionally Omitted; and/or
Special Remedies for Mutual Breach of Warranty. If any circumstance or event exists or occurs that constitutes or results in concurrent breaches of any of the parallel representations and warranties made pursuant to Part 2, Section 5.1 by the O&M Contractor and the Developer, but which breaches do not also constitute or result in any other breach or default by either Party, including, subject to the passage of time and giving of notice, an O&M Contractor Default or a Developer Default, then: a. such breaches shall not result in a Supervening Event or form the basis for a damages claim by either Party against the other; and i. take action as permitted under this Agreement to rectify or mitigate the effects of such circumstance or event;

Related to Special Remedies for Mutual Breach of Warranty

  • Breach of Agreement Failure by the party to comply with or perform any agreement or obligation (other than an obligation to make any payment under this Agreement or delivery under Section 2(a)(i) or 2(e) or to give notice of a Termination Event or any agreement or obligation under Section 4(a)(i), 4(a)(iii) or 4(d)) to be complied with or performed by the party in accordance with this Agreement if such failure is not remedied on or before the thirtieth day after notice of such failure is given to the party;

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!