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AgdaPkt 2008-09-08
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AgdaPkt 2008-09-08
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Last modified
9/9/2008 1:08:15 PM
Creation date
9/4/2008 3:01:29 PM
Metadata
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Closed
Agency Type
City Council
Date
9/8/2008
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<br />6.1C <br />Page 19 <br /> <br />ATTACHMENT 1 <br /> <br />(f) Any act of bankruptcy caused, suffered or permitted by licensee. For the <br />purposes of this Agreement, "act of bankruptcy" shall include any of the <br />following: <br /> <br />1. Any general assignment or general arrangement for the benefit of <br />creditors; <br /> <br />2. The filing of any petition by or against Licensee to have Licensee <br />adjudged a bankrupt or a petition for reorganization or <br />arrangement under any law relating to bankruptcy, unless such <br />petition is filed against Licensee and the same is dismissed within <br />sixty (60) days; <br /> <br />3. The appointment of a trustee or receiver to take possession of <br />substantially all of Licensee's assets located in the Premises or of <br />Licensee's interest in this Agreement; or <br /> <br />4. The attachment, execution or other judicial seizure of substantially <br />all of Licensee's assets located at the Premises or of Licensee's <br />interest in this Agreement. <br /> <br />(g) Licensee acknowledges that Licensor has executed this Agreement in <br />reliance on the financial information furnished by Licensee to Licensor as <br />to Licensee's financial condition. If it is determined at any time <br />subsequent to the date of this Agreement that any of the financial <br />information furnished by Licensee and relied upon by licensor in <br />executing this Agreement is substantially untrue or inaccurate, Licensee <br />shall be deemed to be in default under this Agreement, which default <br />shall not be subject to cure, and which shall entitle Licensor to exercise all <br />remedies reserved to Licensor under this Agreement or otherwise <br />available to Licensor at law. <br /> <br />(h) Failure to abide by any local, state, or Federal governmental laws or <br />regulations. <br /> <br />26. REMEDIES <br />26.1 In the event of any breach by Licensee, in addition to other rights or remedies of <br />Licensor at law or in equity, Licensor shall have the following remedies: <br /> <br />A. If Licensee breaches the license and abandons the Premises before the <br />end of the term, or if his right to possession is terminated by the Licensor <br />because of a breach of the license, the license terminates. Upon such <br />written notice of termination, the Licensor shall have the right to recover <br />against Licensee: <br /> <br />1. <br /> <br />The worth at the time of award of the unpaid license fee that had <br />been earned at the time of termination; <br /> <br />2. <br /> <br />The worth at the time of award of the amount by which the unpaid <br />license fee that would have been earned after termination until the <br /> <br />Atty/Agrl2008.049 <br />090208 <br /> <br />17 <br />
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