Developer Default definition

Developer Default shall have the meaning set forth in Clause 16.1.1;
Developer Default is defined in Section 8.1.1.
Developer Default shall have the meaning set forth in Clause 19.1.1; “Dispute” shall have the meaning set forth in Clause 22.1.1;

Examples of Developer Default in a sentence

  • In case of termination following an incurable Developer Default such as Developer bankruptcy or the inability of Lenders to obtain possession or control of the Project within the prescribed period despite diligent efforts, Lenders have the right to obtain a new Agreement, on the same terms, subject to curing prior Developer defaults and reimbursing TxDOT’s costs.

  • The failure to achieve Financial Close by the Project Financing Deadline, unless such failure is directly attributable to any of the circumstances described in Section 3.4.2, shall be considered a Developer Default (for which TxDOT may give notice and seek liquidated damage and termination remedies under Section 29.5.6 and terminate this Agreement under Section 31.3.1).

  • If an Event of Developer Default shall occur and be continuing beyond any applicable cure period, then City shall, in addition to other rights available to it under law or this Agreement, have the right to terminate this Agreement.

  • In addition, if the accumulated number of Noncompliance Points meets the threshold for a Persistent Developer Default, and Developer either fails to timely submit or comply with an approved remedial plan, TxDOT’s remedies include termination of the Agreement.

  • In respect of a Developer Default for breach of this Section 24.2, TxDOT shall be entitled to (in addition to any other remedies) disgorgement of all Developer’s profits from the prohibited activity, together with interest thereon, at a floating rate equal to the LIBOR in effect from time to time plus 200 basis points, from the date of collection until the date disgorged, and to sole title to and ownership of the prohibited assets and improvements and revenues derived therefrom.


More Definitions of Developer Default

Developer Default has the meaning assigned to it in the Project Agreement.
Developer Default means and includes, jointly and severally, any of the following or any combination thereof:
Developer Default means the occurrence of any of the events set out in Clause 13.1;
Developer Default shall occur if the Developer shall default in performing any duty or obligation to be performed by the Developer under this Agreement and such default shall not be remedied within (a) thirty (30) calendar days after written notice of such default shall have been given by the Owner to the Developer describing the default in reasonable detail, or (b) in the case of any such default which is capable of being cured, but which cannot with due diligence and in good faith be cured within thirty (30) calendar days, within such additional period as may be reasonably required to cure such default with due diligence and in good faith, provided that the Developer has commenced such cure within such thirty (30) calendar day cure period.
Developer Default has the meaning set forth in Section 29.1.
Developer Default has the meaning given in Section 11.
Developer Default means a Default by Developer.