Examples of Specified Relocation Default in a sentence
Therefore, the Parties agree that upon the occurrence of a Specified Relocation Default, including any such default arising pursuant to the provisions of Section 365(g) of the 1 Note to Draft – Liquidated Damages schedule to be confirmed.
Accordingly, the magnitude of the damages that would result from a Specified Relocation Default would be significant in size but difficult to quantify including damages to the finances of the Authority and the County.
United States Bankruptcy Code or similar provision of any successor thereto, the Authority will be entitled to recover from TeamCo a sum equal to the outstanding principal balance on stadium bonds issued; or, in the event that the repayment of those stadium bonds is accelerated, in part or in whole, an amount equal to the scheduled principal balance at the beginning of the year in which there is a Specified Relocation Default.
For the avoidance of doubt, the availability to the Authority (or to any express beneficiary of the Authority’s rights under this Non-Relocation Agreement) of the remedy of liquidated damages under Section 4.4 hereof shall be available only as a remedy for a Specified Relocation Default.
The Parties hereby acknowledge that they have negotiated the above amounts in an attempt to make a good faith effort in quantifying the amount of damages due to a Specified Relocation Default despite the difficulty in making such determination.