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Res 2016-112/Project Texas 380
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Res 2016-112/Project Texas 380
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9/20/2016 1:50:06 PM
Creation date
9/12/2016 2:55:02 PM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
2016-112
Date
8/16/2016
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such termination to be effective as of the end of the full Sales Tax Revenue Computation <br /> Quarter. <br /> Section 5.05 Other Termination Rights. The Parties acknowledge and agree that this <br /> Agreement will automatically terminate and the Parties herein will be relieved of their <br /> obligations and rights set forth herein if the Company does not receive a ruling from the State of <br /> Texas, deemed favorably to the Company, confirming the Sales Tax Revenue definition set forth <br /> herein. <br /> Section 5.06. Other Remedies. Upon breach of any obligation under this Agreement, <br /> in addition to any other remedies expressly set forth in this Agreement with respect to such <br /> breach, the City may pursue such remedies as are available at law or in equity for breach of <br /> contract. Similarly, with regard to violations of applicable ordinances of the City, the City may <br /> seek such relief as is available for violation so such ordinances, including fines and injunctive <br /> relief. <br /> Section 5.07. Offset. With sixty (60) days prior written notice, the City may deduct <br /> from any Grant Payments, as an offset, any delinquent and unpaid fees, sums of money or other <br /> fees, charges or taxes assessed and owed to or for the benefit of the City by Company, if such <br /> delinquency is not Cured within the sixty (60) days. If such amounts are deducted from any <br /> Grant payment, Company shall have an opportunity to cure or resolve the underlying <br /> delinquency of unpaid sums within 120 after the date of the Grant Payment. If the deficiency is <br /> cured within such 120 period, the amount deducted from the Grant Payment will be added back <br /> to the next Grant Payment. <br /> Section 5.08. Force Majeure. A force majeure event means an event beyond the <br /> reasonable control of a Party obligated to perform an act or take some action under this <br /> 11 <br />
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