Common use of Rescission or Termination Clause in Contracts

Rescission or Termination. This Agreement may be rescinded and the Authority terminated by unanimous written consent of the Board; provided that no such termination or rescission shall occur so long as the Authority has any outstanding obligations including, but not limited to, outstanding revenue bonds, or so long as the Development Lease is in effect.

Rescission or Termination. This Agreement may be rescinded and the Authority terminated by unanimous written consent of the Board; provided that no such termination or rescission shall occur so long as the Authority has any outstanding obligations including, but not limited to, outstanding revenue bonds, or so long as the Development Lease is in effect. If the Authority has not exercised its option to enter into the Authority Lease within the time set forth in Section 5.1 of this Agreement (including extensions pursuant to Section 5.1), this Agreement may be rescinded and the Authority terminated by vote of the Board.