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Agenda - 06-19-2012 - 5n
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Agenda - 06-19-2012 - 5n
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Last modified
1/12/2016 12:30:31 PM
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6/15/2012 12:17:37 PM
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BOCC
Date
6/19/2012
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
5n
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Minutes 06-19-2012
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\Board of County Commissioners\Minutes - Approved\2010's\2012
NS Lease Valley Forge Road Property Least Rate for Builders FirstSource
(Linked From)
Path:
\Board of County Commissioners\Contracts and Agreements\Contract Routing Sheets\Routing Sheets\2012
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17 <br />Paragraph, for a period of thirty days after written notice, <br />specifying such failure and requesting that it be remedied, given <br />to Tenant by Landlord, unless Landlord shall agree in writing to <br />an extension of such time prior to its expiration, or if the <br />default be of a nature that it is not reasonably susceptible to <br />being cured within thirty (30) days, the time to cure may be <br />extended by Landlord so long as Tenant is diligently attempting <br />to cure such default. Landlord shall not unreasonably withhold <br />agreement to extend the time period to cure. <br />(iii) The dissolution or liquidation of Tenant or <br />the filing by Tenant of a voluntary petition in bankruptcy, or <br />failure by Tenant promptly to lift any execution, garnishment or <br />attachment of such consequence as will impair its ability to <br />carry on its operations at the Premises, or the commission by <br />Tenant of any act of bankruptcy, or adjudication of Tenant as a <br />bankrupt, or assignment by Tenant for the benefit of its <br />creditors, or the entry by Tenant into an agreement of <br />composition with its creditors, or the approval by a court of <br />competent jurisdiction of a petition applicable to Tenant in any <br />proceeding for its reorganization instituted under the provisions <br />of the Bankruptcy Act, as amended, or under any similar act which <br />may hereafter be enacted. The term 'dissolution or liquidation <br />of Tenant," as used in this subsection, shall not be construed to <br />include the cessation of the corporate existence of Tenant <br />resulting either from a merger or consolidation of Tenant into or <br />with another corporation or a dissolution or liquidation of <br />Tenant following a transfer of all or substantially all of its <br />assets as an entirety. <br />The foregoing provisions of this Paragraph are subject to <br />the following limitations: If by reason of force majeure Tenant <br />is .. unable- in whole or in part to car- . out ___i.ts_..agre.ements.._...o.n ....ita .____... <br />part herein contained, other than the obligations on the part of <br />Tenant, contained in Paragraphs 3.a., b., and c., 5, 6 and 9 <br />hereof, Tenant shall not be deemed in default during the <br />continuance of such inability. The term "force majeure° as used <br />herein shall mean, without limitation, the following: Acts of <br />God, strikes, lockouts or other industrial disturbances; acts of <br />public enemies; orders of any kind of the government of the <br />United States or of North Carolina or any of their departments, <br />agencies, or officials, or any civil or military authority; <br />insurrections; riots; epidemics; landslides; lightning; <br />earthquake;- fire; hurricanes; storms; floods; washouts; droughts; <br />arrests; restraint of government and people; civil disturbances; <br />explosions; breakage or accident to machinery; transmission pipes <br />or canals; partial or entire failure of utilities; or any other <br />cause or event not reasonably within the control of Tenant. <br />Tenant agrees, however, to remedy with all reasonable dispatch <br />the cause or causes preventing 'Tenant from carrying out its <br />agreements; provided, that the settlement of strikes, lockouts <br />and other industrial disturbances shall be entirely within the <br />discretion of Tenant, and Tenant shall not be required to make <br />settlement of strikes, lockouts and other industrial disturbances <br />15 <br />
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