Developer Default definition

Developer Default shall have the meaning set forth in Clause 16.1.1;
Developer Default is defined in Section 8.1.1.
Developer Default shall have the meaning set forth in Clause 16.1.1; "Dispute" shall have the meaning set forth in Clause 18.2;

Examples of Developer Default in a sentence

  • If the Senior Lender does not exercise its right of substitution of the Developer within the time limit specified in the Article 31.1.3, the Senior Lender’s right to substitution shall cease to have effect for that Developer Default.

  • For the avoidance of doubt, no Termination Payment shall be due or payable on account of a Developer Default occurring prior to COD.

  • Upon the Developer having cured the Developer Default within a period not exceeding 90 (ninety) days from the date of such removal of Developer Default, the Authority shall revoke the Suspension forthwith and restore all rights of the Developer under this Agreement.

  • Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Developer shall be entitled to an additional Cure Period of 90 (ninety) days for remedying the Developer Default, and in the event of the Developer not curing its default within such Cure Period, the Authority shall be entitled to encash, invoke and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 31.

  • Upon occurrence of a Developer Default, the Authority shall be entitled, without prejudice to its other rights and remedies under this Agreement including its rights of Termination hereunder, to (i) suspend all rights of the Developer under this Agreement including the Developer’s right to collect User Charges pursuant hereto, and (ii) exercise such rights itself or authorise any other person to exercise the same on its behalf during such suspension (the “Suspension”).


More Definitions of Developer Default

Developer Default means the occurrence of any of the events set out in Clause 13.1;
Developer Default has the meaning assigned to it in the Project Agreement.
Developer Default shall occur if the Developer shall default in performing any duty or obligation to be performed by the Developer under this Agreement and such default shall not be remedied within (a) thirty (30) calendar days after written notice of such default shall have been given by the Owner to the Developer describing the default in reasonable detail, or (b) in the case of any such default which is capable of being cured, but which cannot with due diligence and in good faith be cured within thirty (30) calendar days, within such additional period as may be reasonably required to cure such default with due diligence and in good faith, provided that the Developer has commenced such cure within such thirty (30) calendar day cure period.
Developer Default means and includes, jointly and severally, any of the following or any combination thereof:
Developer Default has the meaning given in Section 11.
Developer Default shall have the meaning set forth in Article 21.1;
Developer Default shall have the meaning attributed to it in Section 3.3.1.