2025-067 Resolution - Laserfiche WebLink

Home Browse Search

Transfer and Assignment This Agreement and rights and obligations under the Agreement are not transferable or assignable without the express written approval of the City. The City shall not unreasonably withhold consent so long as the proposed transfer or assignment is to a proposed transferee or assignee that adequately and sufficiently demonstrates to the City that the transferee or assignee has the financial ability and business experience to continue the Company's operations at the Site. 12. Termination or Modification of Incentives A. If the Company fails to meet the MAP in any given year, the grant shall not be awarded for that year. B. If the Company fails to meet 75% of the MAP for three consecutive years, this Agreement shall be terminated by the City. C. If the Company fails to submit the required information and/or reports required by this Agreement, the City may terminate or modify this Agreement and deny or modify future grant payments after the date of the Company's breach or default. The City may terminate or modify this Agreement if the Company fails to cure any breach of any term of this Agreement, as determined by the City, within thirty days of receiving written notice of such failure from the City or, if cure of the breach cannot be completed within thirty days, if the Company has not in good faith commenced and diligently pursued the same. D. Nothing in Sections 12(A) through (C) shall permit the City to recapture or otherwise deny the Company the benefit of a grant in respect of any period prior to the date of the termination or modification by the City. E. The City may terminate or modify this Agreement and may also require the repayment of the grant payments awarded under this Agreement, upon the occurrence of either of the following: (1) The City reasonably determines that the certification as to delinquent taxes required by this Agreement is fraudulent; or, (2) The Company voluntarily (a) moves its headquarter from the Site, (b) vacates the Site and moves its operations out of the City or (c) voluntarily terminates its operations at the Site during the Term of this Agreement. The City may, absent any legislative action, resolution or court ordered mandate to the contrary, collect any and all grant payments awarded under this Agreement, and the Company shall pay directly to the City or its authorized agent any and all grant payments awarded under this Agreement due on the date any of the events described in Section 12(E)(2) occurs; or within fourteen days from the date the Company is notified by the City that any tax certification is fraudulent. 4