Right to Termination. If an Event of Default shall occur, the non defaulting party may, at its option, give to the defaulting party notice of intention to terminate this Agreement after the expiration of a period of thirty (30) days from the date of such notice if the default has not been cured prior to expiration of such thirty (30) day period, and, upon expiration of such period, this Agreement shall terminate on the date specified in the notice. Such termination shall be without prejudice to any right to any and all remedies (including specific performance and other equitable relief or any and all right to damages) which the non-defaulting party may have against the defaulting party under applicable law or equity subject to the terms of this Agreement.
Appears in 3 contracts
Sources: Hotel Operating Agreement (Behringer Harvard Opportunity REIT I, Inc.), Apartment Management Agreement (Behringer Harvard Opportunity REIT I, Inc.), Apartment Management Agreement (Behringer Harvard Opportunity REIT I, Inc.)