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conducted or as proposed or contemplated to be conducted. <br />Section 5.07. No Defaults. Grifols is current in its obligation to pay taxes to the City, <br />and is not in default in the performance, observance or fulfillment of any of the obligations, <br />covenants or conditions contained in any agreement or instrument to which Grifols is a party or <br />by which Grifols or any of its property is bound that would have any material adverse effect on <br />Grifols' ability to perform under this Agreement. <br />Section 5.08. Full Disclosure. Neither this Agreement nor any schedule or exhibit <br />attached hereto in connection with the negotiation of this Agreement contains any untrue <br />statement of a material fact or omits to state any material fact necessary to keep the statements <br />contained herein or therein, in the light of the circumstances in which they were made, from <br />being misleading. <br />ARTICLE VI <br />PERSONAL LIABILITY OF PUBLIC OFFICIALS; <br />LIMITATIONS ON CITY OBLIGATIONS <br />Section 6.01. Personal Liability of Public Officials. No employee or elected official of <br />the City shall be personally responsible for any liability arising under or growing out of this <br />Agreement. <br />Section 6.02. Limitations on City Obligations. The Grant Payments made and any <br />other financial obligation of the City hereunder shall be paid solely from lawfully available funds <br />that have been budgeted and appropriated each year during the Term by the City as provided in <br />this Agreement. Under no circumstances shall the City's obligations hereunder be deemed to <br />create any debt within the meaning of any constitutional or statutory provision. Consequently, <br />notwithstanding any other provision of this Agreement, the City shall have no obligation or <br />liability to pay any Grant Payments or other payments unless the City budgets and appropriates <br />Page 9 of 22