2A, City - County Joint Powers Agreement for TCAAP

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ARTICLE V DEFAULT AND TERMINATION Section 5.1. Events of Default Defined. The following shall be "Events of Default" under this Joint Agreement and the term "Event of Default" shall mean, whenever it is used in this Joint Agreement (unless the context otherwise provides), any failure by any Party to observe or perform any other covenant, condition, obligation or agreement on its part to be observed or performed hereunder, or under the terms of this Joint Agreement. Section 5.2. Remedies on Default. Whenever any Event of Default referred to in Section 5.1 of this Joint Agreement occurs, the non-defaulting Party may exercise its rights under this Section 5.2 after providing thirty days written notice to the defaulting Party of the Event of Default, but only if the Event of Default has not been cured within said thirty days or, if the Event of Default is by its nature incurable within thirty days, the defaulting Party does not provide assurances reasonably satisfactory to the non-defaulting Party that the Event of Default will be cured and will be cured as soon as reasonably possible: a. Suspend its performance under the Agreement until it receives assurances that the defaulting Party will cure its default and continue its performance under the Agreement. b. Take whatever action, including legal, equitable or administrative action, which may appear necessary or desirable to collect any payments due under this Agreement, or to enforce performance and observance of any obligation, agreement, or covenant under this Agreement. Section 5.3. No Remedy Exclusive. No remedy herein conferred upon or reserved to the Parties is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Agreement or now or hereafter existing at law or in equity or by statute. No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver thereof, but any such right and power may be exercised from time to time and as often as may be deemed expedient. In order to entitle a Party to exercise any remedy reserved to it, it shall not be necessary to give notice, other than such notice as may be required in this Article V. Section 5.4. No Additional Waiver Implied by One Waiver. In the event any agreement contained in this Joint Agreement should be breached by either Party and thereafter waived by the other Party, such waiver shall be limited to the particular breach so waived and shall not be deemed to waive any other concurrent, previous or subsequent breach hereunder. Section 5.5. Termination; Additional Term. Upon establishment of the JDA, this Joint Agreement may only be terminated by mutual agreement of the Parties prior to December 31, 21