Common use of Failure of Holder to Complete Improvements Clause in Contracts

Failure of Holder to Complete Improvements. In any case where six (6) months after default by Developer in completion of construction of the Improvements under this Agreement, the holder of record of any Security Financing Interest, having first exercised its option to construct pursuant to the Security Financing Interest Assignment, has not proceeded diligently with construction (as reasonably determined by the County), the County shall be afforded those rights against such holder it would otherwise have against Developer under this Agreement.

Failure of Holder to Complete Improvements. In any case where six (6) months after default by the Developer in completion of construction of the Improvements under this Agreement, the holder of record of any Security Financing Interest, having first exercised its option to construct pursuant to the Security Financing Interest Assignment, has not proceeded diligently with construction (as reasonably determined by the County), the County shall must be afforded those rights against such holder it would otherwise have against Developer under this Agreement.

Failure of Holder to Complete Improvements. In any case where six (6) months after default by Developer in completion of construction of the Improvements under this Agreement, the holder of record of any Security Financing Interest, having first exercised its option to construct pursuant construct, or the assignment of its option to the Security Financing Interest Assignmentconstruct, has not proceeded diligently with construction (as reasonably determined by the County)construction, the County City shall be afforded those rights against such holder it would otherwise have against Developer under this Agreement.

Failure of Holder to Complete Improvements. In any case where six (6) months after default by the Developer in completion of construction of the Improvements under this Agreement, the holder of record of any Security Financing Interest, having first exercised its option to construct pursuant to the Security Financing Interest Assignment, has not proceeded diligently with construction (as reasonably determined by the County), the County shall be afforded those rights against such holder it would otherwise have against Developer under this Agreement.

Failure of Holder to Complete Improvements. In any case where six (6) months after default by Developer Borrower in completion of construction of the Improvements under this Agreement, the holder of record of any Security Financing Interest, having first exercised its option to construct pursuant to the Security Financing Interest Assignment, has not proceeded diligently with construction (as reasonably determined by the County), the County shall be afforded those rights against such holder it would otherwise have against Developer Borrower under this Agreement.

Failure of Holder to Complete Improvements. In any case where six (6) months after default by the Developer in completion of construction of the Improvements Development under this Agreement, the holder of record of any Security Financing Interest, having first exercised its option to construct pursuant to the Security Financing Interest AssignmentImprovements, has not proceeded diligently with construction (as reasonably determined by the County)construction, the County Agency shall be afforded those rights against such holder it would otherwise have against the Developer under this Agreement.

Failure of Holder to Complete Improvements. In any case where six three (63) months after default by Developer in completion of construction the execution of the Improvements under this AgreementSecurity Financing Assignment, the holder of record of any Security Financing Interest, having first exercised its option to construct the Improvements, pursuant to the Security Financing Interest AssignmentAssignment described in Section 9.3, has not proceeded diligently with construction (as reasonably determined by of the County)Improvements, then such failure shall constitute a Developer Event of Default pursuant to Section 7.4, and the County shall be afforded those rights against such holder it would otherwise have against Developer under this Agreement.