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Agmt12 Badawi & Associates
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Agmt12 Badawi & Associates
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Last modified
9/10/2012 11:40:55 AM
Creation date
6/19/2012 5:13:11 PM
Metadata
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Template:
Agreement
Contractor Name
Badawi & Associates
PROJECT NAME
Consent to Assignment Agreement
RMP File Number
304
Date
6/19/2012
Reso Ref
15197
MO Ref
12-069
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or any of its affiliates. This covenant shall become an asset of the Seller and mav be <br /> ' transferred as part of anv future sale or other transfer of the Setler or the Seller's assets. <br /> (d) Buyer agrees that in the event of a breach of terms of Sections <br /> , 3.5(b) and/or 3.5(c) of this Agreement, prior to Seller securing an injunction restraining Buyer <br /> from coinmitting breaches, Buyer shall pay Seller liquated damages upon demand as follows: (i) <br /> � for services that are substantially similar to the ones previously provided, in an amount equal to <br /> one hundred twenty-five percent (125%) of the immediately prior twelve (12) months billing to <br /> such client prior to the breach, amlualized aiid determined on an accrual basis, (ii) for services <br /> that are considered smaller projects than the services previously provided, in an amount equal to <br /> , fifty percent (50%) of the subsequent twelve (12) months billing to such client prior to the <br /> ' breach, annualized and determined on an accrual basis. The compensatory damages to be paid <br /> following a breach by Buyer hereunder shall be paid to Seller in twenty four (24) equal monthly <br /> , installments, without interest, commencing on the first day of the month following the breach. <br /> ', An accounting will be provided by Buyer to Seller and all records shall be available for <br /> ! inspection in the event any good faith inquiries are made as to whether Buyer or an affiliate has <br /> � performed any services or has entered into agreement to perform any services in violation of this <br /> Agreement. <br /> (e) The covenants in Sections 3.5(b), 3,5(c) and 3.5(d) are intended to <br /> comply with California Business and Professions Code Section 16601 and in no event will <br /> ' extend longer than five (5) years from the Effective Date. It is the desire and intent of the parties <br /> hereto that the provisions of these covenants be enforced to the fullest extent permissible under the <br /> ' laws and public policies applied in each jurisdiction in which enforcement is sought. If, in any <br /> , judicial proceeding, a court shall refuse to enforce any of the covenants deemed included in <br /> Sections 3.5(b}, (c) and (d), the unenforceable covenant shall be deemed eliminated from these <br /> , provisions for the purpose of those proceedings to the extent necessary to permit the remaining <br /> ' separate covenants to be enforced. <br /> (� Consents. Buyer shall undertake on or after the Effective Date to <br /> obtain the consents and appropriate waivers from the Accounts to transfer their contracts to <br /> ' Buyer. Seller shall assist Buyer in obtaining such consents and/or waivers to the extent <br /> ' reasonably requested by Buyer. <br /> (g) Although Seller is retaining the Accounts Receivable, the parties <br /> acknowledge that payment may be made on the Aceounts Receivable to Buyer before payment <br /> has been made in full on the Accounts Receivable retained by Seller. Buyer agrees that any such <br /> payments received by Buyer shall be remitted to Seller within five days of Buyer's receipt, <br /> whether or not such payment was intended by the client to be applied to the Accounts <br /> Receivable. <br /> ' 3.6 Costs of the Transaction. <br /> (a) Finder's or Broker's Fees. Each of the parties represents and <br /> warrants that it has dealt with no broker or finder in connection with any of the transactions <br /> 10 <br />
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