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Res 2015-094/approving a Chapter 380 Economic Development Incentive Agreement with Amazon.com.kydc, LLC, providing incentives in the form of annual refunds of 85 percent of ad valorem taxes generated from personal property over fifteen years, 40 percent
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Res 2015-094/approving a Chapter 380 Economic Development Incentive Agreement with Amazon.com.kydc, LLC, providing incentives in the form of annual refunds of 85 percent of ad valorem taxes generated from personal property over fifteen years, 40 percent
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Resolutions
City Clerk - Type
Approving
Number
2015-94
Date
7/21/2015
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obtained against the City. Notwithstanding any other provision in this Agreement, <br />Amazon will not be required to indemnify the City for any settlements reached with respect <br />to a third party claim unless Amazon has provided its prior written consent for such <br />settlement. Amazon's indemnification obligations under this Section 9.06 are subject to the <br />limitation of liability and any maximum liability amount set forth in Section 9.05. <br />Section 9.07. Offset. The City may deduct from any Chapter 380 Payments, as an <br />offset, any delinquent and unpaid fees, sums of money or other fees, charges or taxes assessed <br />and owed to or for the benefit of the City by Amazon; provided that before offsetting any <br />amounts the City must provide Amazon with (a) advance notice of such offset, (b) 60 days to <br />take action to remedy the situation giving rise to the offset, and (c) reasonable opportunity, at its <br />own expense, to contest such offset. <br />ARTICLE X <br />MISCELLANEOUS <br />Section 10.01. Entire Agreement. This Agreement, including any exhibits hereto, <br />contains the entire agreement between the parties with respect to the transactions contemplated <br />herein. <br />Section 10.02. Amendments. This Agreement may only be amended, altered, or <br />terminated by written instrument signed by all parties. <br />Section 10.03. Assignment. Neither Party may assign this Agreement without the prior <br />written consent of the other Party, except that Amazon may assign this Agreement in whole or in <br />part to an Affiliate or in connection with any merger, reorganization, sale of all or substantially <br />all of its assets or any similar transaction; provided that Amazon provides the City with written <br />notice promptly after any such assignment. The Agreement will be binding upon, inure to the <br />benefit of, and be enforceable by the Parties and their respective successors and assigns. <br />21 <br />
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