Common use of Defaults Under Project Contracts Clause in Contracts

Defaults Under Project Contracts. In the event of any default under any Project Contract, or in the event of a breach of warranty with respect to any materials, workmanship or performance or with respect to the Project, which default or breach results in frustration of the purpose for which the Leased Property was intended, the City shall promptly proceed, either separately or in conjunction with others, to pursue diligently its remedies, including any remedy against the surety of any bond securing the performance of the Project Contract.

Defaults Under Project Contracts. In the event of any default under any Project Contract, or in the event of a breach of warranty with respect to any materials, workmanship or performance or with respect to the Projectother Work, which default or breach results in frustration of the purpose for which the Leased Property property improved by the Work was intended, the City County shall promptly proceed, either separately or in conjunction with others, to pursue diligently its remedies, including any remedy against the surety of any bond securing the performance of the Project Contract.

Defaults Under Project Contracts. In the event of any default under any Project Contract, or in the event of a breach of warranty with respect to any materials, workmanship or performance or with respect to the Project, which default or breach results in frustration of the purpose for which the Leased Property was intended, the City County shall promptly proceed, either separately or in conjunction with others, to pursue diligently its remedies, including any remedy against the surety of any bond securing the performance of the Project Contract.