Common use of Possession and Use of the Project Clause in Contracts

Possession and Use of the Project. (a) The City covenants and agrees that as long as neither the City nor the Trustee has exercised any of the remedies set forth in Section 12.2 following the occurrence and continuance of an Event of Default, as defined in Section 12.1, the Developer shall have sole and exclusive possession of the Project (subject to Permitted Encumbrances and the City’s and the Trustee’s right of access pursuant to

Possession and Use of the Project. (a) The City covenants and agrees that as long as neither the City nor the Trustee has exercised any of the remedies set forth in Section 12.2 following the occurrence and continuance of an Event of Default, as defined in Section 12.1, the Developer shall have sole and exclusive possession of the Project (subject to Permitted Encumbrances and the City’s and the Trustee’s right of access pursuant toto Section