Common use of Rights and Remedies of City Clause in Contracts

Rights and Remedies of City. The rights and remedies reserved by City under this Agreement and those provided by law shall be construed as cumulative and continuing rights, no one of which shall be exhausted by the exercise of any one or more of such rights or remedies on any one or more occasions. Whenever any Developer Default has occurred as to a Phase of the Project, subject to applicable cure periods as set forth in Section 7.01 above, City may, at its option and without limitation as to such affected Phase: (i) terminate this Agreement as to the applicable Phase and as to any Phase for which this Agreement remains in effect; (ii) terminate or cancel any tax exemption or abatement for Developer and the applicable Phase or Project Area for which the Developer Default has occurred, and take such steps with as may be necessary or appropriate to do so (but shall not be entitled to recapture any prior tax exemptions or tax abatements previously granted or received by the Developer); (iii) terminate or cancel any payments, waivers, or grants of funds appropriated or scheduled to be appropriated to Developer to the extent not received; and/or (iv) exercise any other rights or remedies available to City at law or equity. Without limiting the generality of the foregoing, the City shall be entitled to specific performance and injunctive or other equitable relief for any breach or threatened breach of any of the provisions of this Agreement, notwithstanding the availability of an adequate remedy at law, and each Party hereby waives the right to raise such defense in any proceeding in equity. Notwithstanding the above, if there is a Developer Default as to a certain Phase and the City desires to exercise rights and remedies in connection therewith, then such Developer Defaults, and the rights and remedies exercised in connection therewith, shall only apply as to the defaulted Phase and shall not affect any other Phase. If any Developer Default occurs, City may take such actions, or pursue such remedies, as exist hereunder or at law or in equity; and if the City is the prevailing Party in an action to enforce its remedies hereunder, City shall be entitled to reasonable costs and charges, including attorneys' fees, lawfully and reasonably incurred by or on behalf of City in connection with the enforcement of such actions or remedies. The provisions of this Section 7.02 shall be included in the IRB Documents which may become effective in place of this Agreement.

Rights and Remedies of City. The rights and remedies reserved by City under this Agreement and those provided by law shall be construed as cumulative and continuing rights, no one of which shall be exhausted by the exercise of any one or more of such rights or remedies on any one or more occasions. Whenever any Developer Default has occurred as to a Phase of the ProjectProject and continues to exist and so long as it continues to exist, subject to applicable cure periods as set forth in Section 7.01 above, City may, at its option and without limitation as to such affected Phase: (i) terminate this Agreement as to the applicable Phase and as to any Phase for which this Agreement remains in effect; (ii) terminate or cancel any tax exemption or abatement for Developer and the applicable Phase or Project Area for which the Developer Default has occurred, and take such steps with as may be necessary or appropriate to do so (but shall not be entitled to recapture any prior tax exemptions or tax abatements previously granted or received by the Developer); (iii) terminate or cancel any payments, waivers, or grants of funds appropriated or scheduled to be appropriated to Developer to the extent not received; and/or (iv) exercise any other rights or remedies available to City at law or equity. Without limiting the generality of the foregoing, the City shall be entitled to specific performance and injunctive or other equitable relief for any breach or threatened breach of any of the provisions of this Agreement, notwithstanding the availability of an adequate remedy at law, and each Party hereby waives the right to raise such defense in any proceeding in equity. Notwithstanding the above, if there is a Developer Default as to a certain Phase and the City desires to exercise rights and remedies in connection therewith, then such Developer Defaults, and the rights and remedies exercised in connection therewith, shall only apply as to the defaulted Phase and shall not affect any other Phase. If any Developer Default occurs, City may take such actions, or pursue such remedies, as exist hereunder or at law or in equity; and if the City is the prevailing Party in an action to enforce its remedies hereunder, City shall be entitled to reasonable costs and charges, including attorneys' fees, lawfully and reasonably incurred by or on behalf of City in connection with the enforcement of such actions or remedies. The provisions of this Section 7.02 shall be included in the IRB Documents which may become effective in place of this Agreement.