Developer’s Default Clause Samples
The "Developer’s Default" clause defines the circumstances under which a developer is considered to be in default under an agreement. Typically, this clause outlines specific actions or failures—such as missing deadlines, failing to meet project specifications, or breaching material terms—that would trigger a default. Once a default is established, the clause usually details the remedies available to the other party, such as the right to terminate the contract or seek damages. Its core function is to clearly allocate risk and set expectations by specifying what constitutes unacceptable performance and the consequences that follow, thereby protecting the interests of the non-defaulting party.
Developer’s Default. In the event of default by the Developer as to any of the work to be performed by it hereunder, the City may, at its option, perform the work and the Developer shall promptly reimburse the City for any expense incurred by the City, provided the Developer, except in an emergency as determined by the City, is first given notice of the work in default, not less than 48 hours in advance. This contract is a license for the City to act, and it shall not be necessary for the City to seek a court order for permission to enter the land. When the City does any such work, the City may, in addition to its other remedies, assess the cost in whole or in part.
Developer’s Default. The Developer agrees that should it default in performing any of its obligations under this Agreement, and it becomes necessary to engage an attorney to file necessary legal action to enforce provisions of this Agreement or sue for any sums of money due and owing or liability arising incidental to the Agreement, Developer shall pay to the Town all reasonable attorney's fees and expenses of litigation stemming from said default.
Developer’s Default. In the event of default by the Developer as to any of the work to be performed by it hereunder, the City may, at its option, perform the work and the Developer shall promptly reimburse the City for any expense incurred by the City, provided the Developer, except in an emergency as determined by the City, is first given notice of the work in default, not less than forty-eight
Developer’s Default. In the event that the Developer fails to properly install services, correct deficient work, or complete any part of the Pre-Servicing Works, then the Municipality may give notice to the Developer of any such deficiency or failure. In the event the Developer fails, within seven (7) days of such notice, to rectify the deficiency to the satisfaction of the Municipality, then the Municipality will be entitled to enter the Lands and correct the problem, or conduct any other remedial work, as it sees fit at the expense of the Developer. In the event of an emergency, the Municipality will be entitled to enter the Lands forthwith without notice to the Developer in order to secure the site and rectify the emergency situation, at the expense of the Developer. In the event the Developer fails to pay any costs or expenses without thirty (30) days of notice from the Municipality, then the Municipality will be entitled to realize upon the securities lodged in addition to any other rights or remedies the Municipality may have, including the right to add the costs or expenses to the tax roll of the Lands pursuant to the provisions of the Municipal Act whereupon such amount shall be conclusively deemed to be tax arrears and may be collected in the same manner as tax arrears. The Developer shall be responsible for any and all costs for enforcement of this Agreement for rectification of deficient work, including legal costs. Any costs or expenses incurred by the Municipality will constitute a lien against the Lands. Any entry onto the Lands by the Municipality to enforce its rights or to rectify deficient work will be as agent of the Developer only and shall not be construed as acceptance or assumption of any of the Pre-Servicing Works by the Municipality.
Developer’s Default. In the event that Developer fails to perform any of its obligations under this Agreement for any reason other than the Commission's default or the permitted termination of this Agreement by either the Commission or Developer as expressly provided in this Agreement, the Commission shall be entitled, as its sole remedy, to terminate this Agreement (except for rights or obligations which expressly survive the termination of this Agreement) and to recover all third party costs incurred with respect to the Agreement and the Project, including, but not limited to reasonably incurred attorney and other professional fees, in an amount not to exceed $50,000.00.
Developer’s Default. In the event of default by the Developer as to any of the work to be performed by it hereunder, the City may, at its option, after written notice thereof and expiration of the cure period, perform the work and the Developer shall promptly reimburse the City for any expense incurred by the City, provided the Developer, except in an emergency as determined by the City (in which event no notice is necessary), is first given notice of the work in default, not less than five (5) days in advance. This Contract is a license for the City to act, and it shall not be necessary for the City to seek a Court order for permission to enter the land. When the City does any such work, the City may, in addition to its other remedies, assess the cost in whole or in part upon the Property to recover the costs thereof. For this purpose, the Developer expressly waives any procedural and substantive objections to the special assessments, if any, including, but not limited to, hearing requirements and any claim that the assessments exceed the benefit to the property.
Developer’s Default. In the event of default by the Developer as to any of the work to be performed by it hereunder, the City may, at its option, perform the work and the Developer shall promptly reimburse the City for any expense incurred by the City, provided the Developer is first given notice of the work in default, not less than 48 hours in advance, unless this agreement provides for greater notice. This Agreement is a license for the City to act, and it shall not be necessary for the City to seek a Court order for permission to enter the land. When the City does any such work, the City may, in addition to its other remedies, assess the cost in whole or in part upon the Property to recover the costs. For this purpose, the Developer expressly waives any procedural and substantive objections to the special assessments, including, but not limited to, hearing requirements and any claim that the assessments exceed the benefit to the property as provided herewith.
Developer’s Default. The occurrence of any one of the following events shall be considered a "Default" of this Agreement by Developer:
Developer’s Default. In the event of default by the Developer as to any of the work to be performed by it hereunder, following at least thirty (30) days prior written notice and Developer’s failure to cure such default within such time-frame, except in an emergency as determined by the City, the City may, at its option, perform the work and the Developer shall promptly, following receipt of an invoice and reasonable substantiation of such costs, reimburse the City for any reasonable out-of-pocket expense incurred by the City.
Developer’s Default. The occurrence of any of the following shall be an “event of default” of Developer under this Agreement:
(a) The failure of Developer or any of its affiliates to fulfill any obligations with respect to the TIF, including specifically payment of Statutory Service Payments and Minimum Service Payments in its capacity as a TIF Parcel Owner (provided that nothing contained herein shall be construed as a default by Developer if a TIF Parcel Owner that is not affiliated with Developer fails to pay any applicable Statutory Service Payments or Minimum Service Payments).
(b) The dissolution of Developer or the filing of any bankruptcy or insolvency proceedings by or against Developer, the appointment of a receiver (temporary or permanent) for Developer, the attachment of, levy upon, or seizure by legal process of any property of Developer, or the insolvency of Developer.
(c) The failure of Developer to perform or observe any obligation, duty, or responsibility under this Agreement or any TIF Declaration to which the Developer or any of its affiliates is a party, and failure by Developer to correct such failure within thirty (30) days after Developer’s receipt of written notice thereof from the City; provided, however, that if the nature of the default is such that it cannot reasonably be cured within thirty (30) days, Developer shall not be in default so long as Developer commences to cure the default within such thirty day period and thereafter diligently completes such cure within ninety (90) days after Developer’s receipt of the City’s initial notice of default. The foregoing notwithstanding, if Developer’s failure to perform or observe any obligation, duty, or responsibility under this Agreement creates a dangerous condition or otherwise constitutes an emergency as determined by the City, an event of default shall be deemed to have occurred if Developer fails to take corrective action immediately upon discovering such dangerous condition or emergency.