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10-C LCWSD Wholesale Treated Water Contract
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10-C LCWSD Wholesale Treated Water Contract
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Last modified
5/5/2006 11:50:42 AM
Creation date
5/5/2006 11:50:36 AM
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AGENDA
Item Number
10-C
AGENDA - Type
RESOLUTION
Description
Terminating old contract & Approving new Wholesale Treated Water Contract with Lamar County WSD
AGENDA - Date
5/8/2006
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<br />proceeding remains uncontested for sixty (60) days or (ii) otherwise becomes <br />bankrupt or insolvent (however evidenced); or <br /> <br />(c) Any representation or warranty furnished by LCWSD is false or misleading in <br />any material respect when made. <br /> <br />6.2 DEFAULT BY PARIS. In addition to the other termination proVIsIOns of this <br />Agreement, each of the following events or conditions shall constitute an "Event of <br />Default" by Paris hereunder for which LCWSD may terminate the Agreement as <br />provided in Article 6.4: <br /> <br />(a) Paris fails to observe or perfonn any of its covenants or material duties or <br />obligations contemplated by this Agreement, and such failure is not cured within <br />thirty (30) days after notice thereof from LCWSD; <br /> <br />(b) Paris (i) files a petition or otherwise commences, authorizes or acquiesces in the <br />commencement of a proceeding or cause under any bankruptcy or similar law for <br />the protection of creditors, or have such petition filed against it, and such <br />proceeding remains uncontested for sixty (60) days, or (ii) otherwise become <br />bankrupt or insolvent (however evidenced); or <br /> <br />(c) Any representation or warranty furnished by Paris is false or misleading in any <br />material respect when made. <br /> <br />6.3 REMEDIES. Upon the occurrence of an Event of Default, the non-defaulting Party shall <br />have the right to the following remedies in addition to the right to terminate as provide in <br />Article 6.4: <br /> <br />(a) Suspend services and withhold any payments due hereunder until the defaulting <br />Party has cured such Event of Default; <br /> <br />(b) In the event of a Paris Event of Default, exercise equitable remedies, specifically <br />limited to the right of specific perfonnance and the right of injunctive relief; and <br /> <br />(c) In the event of a LCWSD Event of Default, exercise all remedies available at law <br />or at equity, except as limited herein. <br /> <br />6.4 TERMINATION RIGHTS. Either Party shall have the right to tenninate this <br />Agreement, without charge or penalty, upon the occurrence of an Event of Default by the <br />other Party that continues without cure for more than one hundred eighty (180) <br />consecutive days after notice. <br /> <br />ARTICLE VII - FORCE MAJEURE <br /> <br />7.1 FORCE MAJEURE. The tern1 "force majeure" as employed herein shall mean acts of <br />God, strikes, lockouts or other industrial disturbances, acts of public enemy, war, orders <br /> <br />20 Paris/LCWSD Wholesale Treated Water Contract <br />
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