Common use of Declaratory Judgments Clause in Contracts

Declaratory Judgments. As permitted by Virginia Code §56-568 as it exists on the Agreement Date hereof, the Parties expressly agree to waive and declare inapplicable any requirement under Virginia Code §56-569 that the State Corporation Commission issue a declaratory judgment regarding a material default (as defined in Virginia Code §56-569) as a prerequisite to either Party exercising any remedy available under this Agreement or Applicable Law.

Declaratory Judgments. As permitted by Virginia Code §56-568 as it exists on the Agreement Date hereof, the Parties expressly agree to waive and declare inapplicable any requirement under Virginia Code §56-569 568 that the State Corporation Commission issue a declaratory judgment regarding a material default (as defined in Virginia Code §56-569557) as a prerequisite to either Party exercising any remedy available under this Agreement Agreement, any other Project Agreement, or Applicable Lawapplicable law.