Common use of Termination by Redeveloper Clause in Contracts

Termination by Redeveloper. In the event that the City does not cure its Event of Default within ninety (90) days after the Redeveloper’s notice of the same pursuant to Paragraph 4.b above, then this Agreement shall, at the option of the Redeveloper, be terminated by written notice thereof to the City, at which point neither the City nor the Redeveloper shall have any further rights against, or obligations or liability to, the other under the Agreement, with respect to the Agreement.

Termination by Redeveloper. In the event that the City does not cure its Event of Default within ninety (90) days after the Redeveloper’s notice of the same pursuant to Paragraph 4.b 5.b. above, then this Agreement shall, at the option of the Redeveloper, be terminated by written notice thereof to the City, at which point neither the City nor the Redeveloper shall have any further rights against, or obligations or liability to, the other under the Agreement, with respect to the Agreement.