Res 2016-112/Project Texas 380 - Laserfiche WebLink

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made a part of this Agreement for all purposes. Section 2.12. The "Term" of this Agreement shall commence on the Effective Date and continue until December 31, 2026 (unless terminated sooner, as provided in this Agreement), except that Company's obligation to submit in 2027 a Compliance Certificate for the year 2026 and the City's obligation, if any, to complete the Grant Payments due under this Agreement for the year 2026 shall continue until satisfied, subject to the limitations of this Agreement. The Term may be extended as provided in Section 4.03. ARTICLE 3. OBLIGATIONS OF COMPANY Section 3.01. Operation of Business. Company shall begin operation of the Business on the Site on or prior to the Effective Date, and shall continuously operate, maintain and manage the Business for the duration of the Term, unless Company determines that continued operation of the Business is not commercially reasonable. The Company shall install signage at the Site, displaying the name of the Business, which is permitted in accordance with applicable City ordinances. Section 3.02. Exclusive Operation of Business in Texas. During the Term, Company shall not operate any other internet retail sales operations center within the State of Texas. Section 3.03. Internet Retail Sales Attributable to the Business. The Parties acknowledge that there is no minimum annual internet retail sales required during the 2017 calendar year; however, during the third and fourth Sales Tax Revenue Computation Quarter, there will be a minimum of $30,000,000, subject to sales and use tax, and attributable to the Business which shall be generated and allocated to the City. For the calendar year starting on January 1, 2018 and ending December 31, 2018, and for each calendar year thereafter, during the Term, a minimum of $240,000,000 in internet retail sales, subject to sales and use tax, and 4