Laserfiche WebLink
ARTICLE V <br /> EVENTS OF DEFAULT <br /> Section 5 . 1 . Events of Default Defined. The following are <br /> Events of Default under this Agreement : Failure in the substantial <br /> observance or performance of any covenant, condition, obligation, <br /> or agreement on the part of the Developer to be observed or <br /> performed under this Agreement . <br /> An Event of Default shall also include any occurrence which would <br /> with the passage of time or giving of notice become an Event of <br /> Default as defined hereinabove . <br /> Section 5 . 2 . Remedies on Default . Whenever any Event of <br /> Default occurs, in addition to all other remedies available to the <br /> Authority at law or in equity or elsewhere in this Agreement, <br /> (1) the Authority may suspend its performance under the Agreement <br /> until it receives assurances from the Developer, deemed adequate by <br /> the Authority, that the Developer has cured its default and will <br /> continue its performance under the Agreement and (2) , after <br /> provision of 30 days written notice from the Authority to the <br /> Developer of the Event of Default, but only if the Event of Default <br /> has not been cured within said 30 days, or if the Event of Default <br /> cannot be cured within 30 days, the Developer does not provide <br /> assurances to the Authority reasonably satisfactory to the <br /> Authority that the Event of Default will be promptly cured, then <br /> the Authority may terminate this Agreement . <br /> Section 5 . 3 . No Remedy Exclusive . No remedy herein <br /> conferred upon or reserved to the Authority is intended to be <br /> exclusive of any other available remedy or remedies, but each and <br /> every such remedy shall be cumulative and shall be in addition to <br /> every other remedy given under this Agreement or now or hereafter <br /> existing at law or in equity. No delay or omission to exercise any <br /> right or power accruing upon any default shall impair any such <br /> right or power or shall be construed to be a waiver thereof, but <br /> any such right and power may be exercised from time to time and as <br /> often as may be deemed expedient . <br /> Section 5 .4 . No Additional Waiver Implied by One Waiver. If <br /> any agreement contained in this Agreement should be breached by any <br /> Party and thereafter waived by any other Party, such waiver shall <br /> be limited to the particular breach so waived and shall not be <br /> deemed to waive any other concurrent, previous or subsequent breach <br /> hereunder. <br /> 334455.6 5-1 <br />