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6.3A <br /> Page 13 <br /> 1 ARTICLE 2 TERM OF AGREEMENT <br /> 2 2.01 EFFECTIVE DATE <br /> 3 The Effective Date of this Agreement shall be November 30, 2009. <br /> 4 2.02 TERM <br /> 5 The Term of the Agreement shall begin on the Effective Date and shall end at midnight <br /> 6 on December 31, 2020, unless extended as provided in Section 2.03. Contractor's <br /> 7 obligation to operate the Shoreway Center shall commence January 1, 2011. i <br /> 8 2.03 OPTION TO EXTEND TERM <br /> 9 The Authority may extend the Term for one (1) or more periods of one (1) year, up to a <br /> 10 maximum of three (3) years (i.e., until December 31, 2023), on the same terms and <br /> 11 conditions. ff Authority wishes to extend the Term it shall deliver a written notice to <br /> 12 Contractor at least six (6) months before the expiration of the then-current Term, <br /> 13 specifying the number of additional years by which it wishes to extend the Term. If the <br /> 14 Authority initially elects to extend the Term for less than three (3) years, it may <br /> 15 subsequently elect to extend the Term in increments of one or two years, up to a total of <br /> 16 three years. <br /> 17 2.04 CONDITIONS TO EFFECTIVENESS OF AGREEMENT I <br /> I <br /> 18 A. The obligation of Authority to perForm under this Agreement is subject to I <br /> 19 satisfaction, on or before the Effective Date, of each and every one of the conditions <br /> 20 set out below: <br /> 21 1. Accuracv of Representations. The representations and warranties made by <br /> 22 Contractor in Article 3 of this Agreement shall be true and correct on and as <br /> 23 of the Effective Date, and a certification to that effect dated as of the Effective <br /> 24 Date shall be delivered by Contractor to Authority on the Effective Date. ! <br /> 25 2. Absence of Litiaation. There shall be no litigation pending on the Effective <br /> 26 Date in any court challenging the execution of this Agreement or seeking to <br /> 27 restrain or enjoin its performance. � <br /> 28 3. Sale of Bonds. The Authority shall have sold bonds, certificates of '' <br /> 29 participation, or other such instruments, or shall have secured a loan, in the <br /> 30 amount of $56.5 million, and received the proceeds thereof. , <br /> 31 4. Effectiveness of Authoritv's Approval. Authority's approval of this Agreement � <br /> 32 shall have become effective, pursuant to California law, on or before the , <br /> 33 Effective Date, through the action of eight or more Member Agencies' City <br /> 34 Councils or other governing bodies approving this Agreement. <br /> 35 5. Contract with Eauipment Manufacturer. Authority shall have entered into a <br /> 36 contract with Bulk Handling Systems for the fabrication, delivery, installation <br /> 37 and warranty service of the equipment described in Attachment 2-A for a <br /> 38 price and on terms and conditions acceptable to Authority. <br /> Operating Agreement for Shoreway Center <br /> Page - 4 - 7/30/09 <br />