Examples of Owner Event of Default in a sentence
If any termination for cause by Owner pursuant to this Section 9.1(b) is ultimately determined to have been wrongful, then such termination shall be deemed a termination for an Owner Event of Default pursuant to Section 9.2(b), and O&M Contractor’s sole remedy shall be the receipt of the amounts set forth in Section 9.2(b).
Upon any Owner Event of Default, Contractor may terminate this Agreement thirty (30) days after giving written notice thereof to Owner so long as the amount owed by Owner (other than any amount disputed in accordance with the terms of this Agreement) is not paid within such thirty (30)-day period (a “Contractor Termination for Cause”).
Unless Contractor terminates this Agreement pursuant to the foregoing provisions, Contractor shall not suspend or delay performance of the Work because of any Owner Event of Default.
In the event of a Owner Event of Default, Manager shall have the right to institute any and all proceedings permitted by law or equity, including, without limitation, actions for specific performance and/or damages, provided except as expressly provided in this Agreement, Manager shall have no right to terminate this Agreement by reason of a Owner Event of Default.
Manager agrees that in no event shall Owner’s liability to Manager with respect to lost or future Management Fees upon any Owner Event of Default exceed the amount of the termination fee that would be payable to Manager under Section 16.4.2 upon a termination of this Agreement as of the date of such Owner Event of Default.