Common use of Noncompliance Points Clause in Contracts

Noncompliance Points. assessed for Noncompliance Events occurring prior to the date the Collateral Agent or its Substituted Entity obtains management, custody and control of the East End Crossing shall not be counted during the period available to the Collateral Agent or its Substituted Entity to cure the Noncompliance Events for the purpose of determining Persistent Developer Default. Once all such Noncompliance Events have been cured, IFA shall cancel any Noncompliance Points assessed with respect to such Noncompliance Events. The foregoing shall not, however, excuse the Collateral Agent or its Substituted Entity from any obligation to cure prior uncured breaches or failures to perform under the PPA Documents, and except for determination of Persistent Developer Default shall not affect any rights and remedies available to IFA respecting uncured breaches or failures to perform.

Noncompliance Points. assessed for Noncompliance Events occurring prior to the date the Collateral Agent or its Substituted Entity obtains management, custody and control of the East End Crossing Project shall not be counted during the period available to the Collateral Agent or its Substituted Entity to cure the Noncompliance Events for the purpose of determining Persistent Developer Default. Once all such Noncompliance Events have been cured, IFA shall cancel any Noncompliance Points assessed with respect to such Noncompliance Events. The foregoing shall not, however, excuse the Collateral Agent or its Substituted Entity from any obligation to cure prior uncured breaches or failures to perform under the PPA Documents, and except for determination of Persistent Developer Default shall not affect any rights and remedies available to IFA respecting uncured breaches or failures to perform.