Common use of Default by OBDD Clause in Contracts

Default by OBDD. In the event OBDD defaults on any obligation in this Contract, Recipient’s sole remedy will be for disbursement of Financing Proceeds for Costs of the Project, not to exceed the Grant Amount, less any claims OBDD has against Recipient.

Default by OBDD. In the event OBDD defaults on any obligation in this Contractof default by OBDD, Recipient’s sole remedy will be for disbursement of Financing Proceeds for Costs of the Project, not to exceed the Grant Amounttotal amount of Financing Proceeds, less any claims OBDD has against Recipient.