Development Default Sample Clauses

Development Default. A Development Default shall occur, in which case the TIFIA Lender may (A) suspend the disbursement of TIFIA Loan proceeds under this Agreement and (B) pursue such other remedies as provided in this Section 20 (Events of Default and Remedies). If so requested by the TIFIA Lender in connection with a Development Default, the Borrower shall immediately repay any unexpended TIFIA Loan proceeds previously disbursed to the Borrower.

Development Default. A Development Default shall occur.

Development Default. The Borrower fails to complete the Project by September 30, 2015, unless the Borrower demonstrates to the ▇▇▇▇▇ ▇▇▇▇▇▇’s satisfaction that it is proceeding with the construction of the Project with due diligence toward the date acceptable to the TIFIA Lender (a “Development Default”). In such a case, the TIFIA Lender may: (A) suspend the disbursement of the TIFIA Loan proceeds under this Agreement; and (B) pursue such other remedies as provided in Section 18 of this Agreement, including declaring the TIFIA Default Rate in effect. The Borrower shall immediately repay any unexpended TIFIA Loan proceeds previously disbursed to the Borrower. For the purposes of this Section 18(a)(iii), the Borrower shall have the right to amend the construction schedule to extend the date for Substantial Completion for a period of up to 60 days (unless a longer extension is required due to the occurrence of an Uncontrollable Force) within thirty (30) days of receipt of notice of an alleged Development Default; provided that the Borrower shall provide the TIFIA Lender with (x) a remedial plan with respect to the construction of the Project (a “Remedial Plan”) reviewed by a general engineering consultant satisfactory to the TIFIA Lender and (y) a certificate from such general engineering consultant concluding that Substantial Completion is likely to occur by the date specified in the Remedial Plan, and the TIFIA Lender approves the Remedial Plan (such approval not to be unreasonably withheld);

Development Default. NTI hereby grants to Cadence a ------------------- nonexclusive, worldwide, fully paid and royalty-free, perpetual and irrevocable (except as provided below) license to use, reproduce, modify, and create Derivative Works from the Source Code Materials in order to (i) complete the development work described in the Statement of Work, (ii) correct Errors in the NTI Product Components, maintain the compatibility of the NTI Product Components with the Cadence Products and third party software used in conjunction with the NTI Product Components, and provide minor functionality enhancements to the NTI Product Components consistent with the enhancements being made to the Cadence Products, and (iii) use, reproduce, distribute, make, have made, offer for sale, import, sell, and support the NTI Product Components in object code form pursuant to the licenses granted to Cadence in Section 3.1. The object code derived from the source code so modified shall be deemed to be Developed Software and the parties' respective rights in such code will be as provided in Section 6. The license granted in this paragraph (a) shall survive termination of this Agreement in accordance with Section 14 if the escrow provisions were triggered prior to termination or expiration of this Agreement, but Cadence may not trigger the escrow provisions post-termination or expiration.

Development Default. A Development Default shall occur in respect of such Funded MCA Project. If so requested by the TIFIA Lender in connection with a Development Default in respect of such Funded MCA Project, the Borrower shall immediately repay any unexpended TIFIA Loan proceeds previously disbursed to the Borrower under the TIFIA Loan Agreement related to such Funded MCA Project;

Development Default. A Development Default shall occur, and such failure continues for a period of ninety (90) days.

Development Default. Developer (1) fails to comply with Section 4 or Section 5 of this Agreement or (2) abandons the Project.

Development Default. A Development Default shall occur. If so requested by the RRIF Lender in connection with a Development Default, the Borrower shall immediately repay any unexpended RRIF Loan proceeds previously disbursed to the Borrower under this Agreement.

Development Default. The Concessionaire shall diligently prosecute the work relating to the Project and achieve Substantial Completion in accordance with the Financial Plan, unless the Concessionaire demonstrates to the TIFIA Lender’s satisfaction that it is proceeding with the construction of the Project with due diligence toward Substantial Completion by no later than 180 days after the then effective Substantial Completion Date. Failure of the Concessionaire to comply with the requirements of this covenant shall constitute a “Development Default”.