Common use of Termination by the District Clause in Contracts

Termination by the District. The District may terminate this Agreement only in the event of a noticed and uncured default of the Developer. If the District elects to terminate this Agreement due to a default of the Developer, then the District shall deliver a notice of termination of this Agreement to the Developer, the City, and any trustee under an Indenture, which specifies the nature of the alleged default, and this Agreement shall thereby be terminated ninety (90) days thereafter; provided, however, that if the Developer, the City, and/or a trustee under an Indenture files an action to challenge the termination of this Agreement within such ninety (90) day period, then this Agreement shall remain in full force and effect until a trial court has ruled upon the termination of this Agreement and all appeals have been exhausted (or the time for requesting any and all appellate review has expired).

Termination by the District. The District may terminate this Agreement only in the event of a noticed and uncured default of the Developer. If the District elects to terminate this Agreement due to a default of the Developer, then the District shall deliver a notice of termination of this Agreement to the Developer, the City, and any trustee under an Indenture, which specifies the nature of the alleged default, and this Agreement shall thereby be terminated ninety (90) days thereafter; provided, however, that if the Developer, the City, the District and/or a trustee under an Indenture files an action to challenge the termination of this Agreement within such ninety (90) day period, then this Agreement shall remain in full force and effect until a trial court has ruled upon the termination of this Agreement and all appeals have been exhausted (or the time for requesting any and all appellate review has expired).