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Res 2017-078/approving a Chapter 380 economic development incentive agreement for Urban Mining Company
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Res 2017-078/approving a Chapter 380 economic development incentive agreement for Urban Mining Company
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12/28/2017 9:03:14 AM
Creation date
5/3/2017 4:12:07 PM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
2017-78
Date
4/18/2017
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Section 10.02. Termination for Misrepresentation. Notwithstanding any provision for <br />notice of default and any opportunity to cure under Section 10.01, the City may terminate the <br />Agreement immediately by providing written notice to Company if Company, its officers or <br />signatories to this Agreement intentionally misrepresented or misrepresents any material fact or <br />information: (i) upon which the City relied in entering into this Agreement; (ii) upon which the <br />City relies in making a Grant Payment to Company; or (iii) as an inducement for the City to make <br />a Grant Payment to Company. <br />Section 10.03. Other Remedies. Upon breach of any obligation under this Agreement, in <br />addition to any other remedies expressly set forth in this Agreement with respect to such breach, <br />the City may, pursue such remedies as are available at law or in equity for breach of contract. <br />a. Effect of Force Majeure Event. A Party will not be deemed to be in <br />breach, default or otherwise in violation of any term of this Agreement to the extent such <br />Party's action, inaction or omission is the result of Force Majeure Event. Company and <br />the City agree to use commercially reasonable efforts to promptly resolve any Force <br />Majeure Event that adversely and materially impacts their performance under this <br />Agreement. A force majeure event pauses a Party's performance obligation for the <br />duration of the event but does not excuse it. "Force Majeure Event" means any event or <br />occurrence that is not within the control of such Party and prevents a Party from performing <br />its obligations under this Agreement, including, without limitation, any act of God; act of <br />a public enemy; war; riot; sabotage; blockage; embargo; failure or inability to secure <br />materials, supplies or labor through ordinary sources by reason of shortages or priority; <br />labor strike, lockout or other labor or industrial disturbance (whether or not on the part of <br />agents or employees of either Party); civil disturbance; terrorist act; power outage; fire, <br />IIV <br />
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