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Res 2006-035
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Res 2006-035
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Last modified
8/2/2006 10:34:15 AM
Creation date
8/2/2006 10:18:33 AM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Agreement
Number
2006-35
Date
2/21/2006
Volume Book
166
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<br />-I <br /> <br />except that no separate charge limit will be assigned. Your charge limit will apply to <br />Transactions on all Card Accounts, including those of your participating affiliates. <br /> <br />You may terminate an affiliate's participation by giving us written notice and a <br />reasonable time to act on such notice. If an approved participant is, or will no longer <br />be, majority-owned by you, you agree to notify us immediately, and we may immediately <br />terminate the Card Accounts of such participant. <br /> <br />SUPPLEMENTAL GOVERNING LAW AND RESOLUTION OF DISPUTES PROVISIONS <br />Notwithstanding anything to the contrary in the Governing Law provision in the General <br />Provisions section of this Booklet, the Commercial and Corporate Card Services are <br />governed by the laws respecting national banking associations and, to the extent not <br />covered by those laws, by the laws of the State of Arizona, without reference to that <br />state's principles of conflicts of law, regardless of where you reside or where a <br />Cardholder uses a Card Account. <br /> <br />Notwithstanding anything to the contrary in the Resolution of Disputes provision in <br />the General Provisions section of this Booklet, you agree to submit to the personal <br />jurisdiction of any state or federal court in Arizona and to binding arbitration in Arizona <br />with respect to disputes regarding the Commercial and Corporate Card Services. <br /> <br />-I <br /> <br />ADDITIONAL TERMINATION PROVISIONS <br />We may immediately terminate these Services if there occurs (i) a termination event set <br />forth in the "Termination" section of this Booklet with respect to you, a participating <br />affiliate or a guarantor of obligations under any Card Account, (ii) a change in your <br />ownership, if you are a privately-held entity, in excess of 50% or (iii) any of the following <br />with respect to you, a participating affiliate or a guarantor of obligations under any Card <br />Account: <br /> <br />. the failure to payor perform any obligation, liability or indebtedness to us or any of <br />our affiliates or subsidiaries. whether under this Booklet or any other agreement, as <br />and when due (whether upon demand, at maturity or by acceleration); <br /> <br />. the failure to payor perform any other obligation, liability or indebtedness to any <br />other party; <br /> <br />. death (if an individual) or resignation or withdrawal of any partner or material owner <br />(of a privately-held entity); <br /> <br />. merger or consolidation with or into another entity; <br /> <br />. the determination by us that any representation or warranty made to any of our <br />affiliates or subsidiaries in any agreement is or was, when it was made, untrue or <br />materially misleading; <br /> <br />. the failure to timely deliver such financial statements, including tax returns, other <br />statements of condition or other information, as we shall request from time to time; <br /> <br />. the entry of a judgment which we deem to be of a material nature; <br /> <br />, <br />
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