Relocation Default definition

Relocation Default means the failure of TeamCo to keep, observe or perform any of the covenants or agreements contained in Article 3 of this Non-Relocation Agreement.
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Examples of Relocation Default in a sentence

  • For the avoidance of doubt, the availability to the Authority (or to any express beneficiary of the Authority’s rights under this Non-Relocation Agreement) of the remedy of liquidated damages under Section 4.4 hereof shall be available only as a remedy for a Specified Relocation Default.

  • The Parties hereby acknowledge that they have negotiated the above amounts in an attempt to make a good faith effort in quantifying the amount of damages due to a Specified Relocation Default despite the difficulty in making such determination.

  • Accordingly, the magnitude of the damages that would result from a Specified Relocation Default would be significant in size but difficult to quantify including damages to the finances of the Authority and the County.

  • Accordingly, the magnitude of the damages that would result from a Specified Relocation Default would be significant in size but difficult to quantify including damages to the finances of the Authority, the County and the State.

  • For the avoidance of doubt, the availability to the Authority (or to any express beneficiary of the Authority’s rights under this Non-Relocation Agreement) of the remedy of liquidated damages under Section 4.4 hereof shall be available only as a remedy for a Specified Relocation Default and subject to Section 4.3(d) hereof.

  • It is specifically contemplated by the Parties that in the event the Non-Relocation Term expires, this Agreement and the Non-Relocation Covenants herein shall be terminated as of the Stadium Lease Expiration Date without affecting any obligation, for liquidated damages or otherwise, arising from any Non- Relocation Default which occurred prior to such Stadium Lease Expiration Date.

  • Notwithstanding the foregoing, for clarity the County and the ECSC specifically consent and agree that neither Party shall be permitted to enforce the provisions of this Agreement against the Bills, including, without limitation, the equitable remedies or liquidated damages provisions set forth in Sections 5(a) or 5(b) herein, except with respect to any conduct engaged in by the Bills prior to the expiration of the Non-Relocation Term, which conduct constitutes or results in a Non- Relocation Default.

  • Therefore, the Parties agree that upon the occurrence of a Specified Relocation Default, including any such default arising pursuant to the provisions of Section 365(g) of the 1 Note to Draft – Liquidated Damages schedule to be confirmed.

  • United States Bankruptcy Code or similar provision of any successor thereto, the Authority will be entitled to recover from TeamCo a sum equal to the outstanding principal balance on stadium bonds issued; or, in the event that the repayment of those stadium bonds is accelerated, in part or in whole, an amount equal to the scheduled principal balance at the beginning of the year in which there is a Specified Relocation Default.

  • EDA shall be entitled to obtain injunctive relief prohibiting action, directly or indirectly, by Tenant that causes or would reasonably be expected to cause a Non- Relocation Default or mandating action that averts or will avert such Non-Relocation Default (“Injunctive Relief”), and Tenant hereby consents to the entry of an order granting such Injunctive Relief by any court of competent jurisdiction.

Related to Relocation Default

  • Modification Default Loss means the loss calculated in Exhibits 2a(1)-(3) for single family loans previously modified pursuant to this Single Family Shared-Loss Agreement that subsequently default and result in a foreclosure, short sale or Deficient Loss.

  • Non-default Rate means a rate per annum equal to the cost (without proof or evidence of any actual cost) to the Non-defaulting Party (as certified by it) if it were to fund the relevant amount.

  • in default means that, as to any Mortgage Loan, any Mortgage Note payment or escrow payment is unpaid for thirty (30) days or more after its due date (whether or not the Seller has allowed any grace period or extended the due date thereof by any means) or another material default has occurred and is continuing, including the commencement of foreclosure proceedings or the commencement of a case in bankruptcy for any Customer in respect of such Mortgage Loan.

  • Non-Defaulting Lender means, at any time, each Lender that is not a Defaulting Lender at such time.