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i <br /> deadline . Lead Agency assignment for SWG Administration shall be recommended by the SWG <br /> to all three governing boards represented through this Agreement for approval . <br /> i <br /> Article IV <br /> Term , Termination , Amendment <br /> 4 . 01 Term . <br /> a . Effective Date . This Agreement shall become effective upon the properly authorized <br /> execution of the Agreement by all Parties . <br /> b . This Agreement shall continue for a period of seventeen ( 17 ) years from the Effective <br /> Date , unless otherwise amended by the prior express written agreement of the Parties . <br /> This term aligns with horizon year of the current County Transit Multi -year Vision Plan at <br /> the time of execution of this Agreement . <br /> c . Any amendment, termination , or renewal of the Term must be in the form of a written <br /> instrument properly authorized and executed by the governing boards of each Party . <br /> d . The Parties agree that the Term shall be extended by mandatory amendment though <br /> the final maturity dates of any debt issued and payable from Orange County Transit Tax <br /> Revenues seventeen ( 17 ) year initial term . <br /> 4 . 02 Termination . <br /> a . Material Breach . If any Party violates a responsibility, duty, or assumption stated in <br /> Article V, the other Party ( ies ) shall give written notice of the breach and request to cure . <br /> If such breach is not cured within thirty ( 30 ) days of written notice thereof, any non - <br /> breaching Party may, without further notice or demand , in addition to all other rights <br /> and remedies provided in this Agreement, at law or in equity, terminate this Agreement <br /> and recover any damages to which it is entitles because of said breach . In the event of a <br /> non - material breach of the Agreement, the termination procedure set forth in 4 . 02 ( b ) <br /> shall apply . <br /> b . Termination upon one ( 1 ) year' s notice . Any Party may terminate its participation in this <br /> Agreement with or without breach by giving written notice to each other Party of intent <br /> to terminate, as well as reasons for terminating ( which shall be in the sole discretion of <br /> the terminating party ) , at least one ( 1 ) year prior to the effective termination date . j <br /> c . Bankruptcy/ Insolvency Special Provisions . If any Party applies for or consents to the <br /> appointment of a receiver, trustee or similar officer for it or any substantial part of its <br /> property or assets, or any such appointment is made without such application or <br /> consent by such Party and remains discharged for sixty ( 60 ) days, or files a petition in <br /> bankruptcy or makes a general assignment for the benefit of creditors, then such action <br /> shall constitute a material breach of this Agreement not requiring notice and <br /> opportunity to cure and the other Party ( ies ) may terminate effective immediately . <br /> d . Cooperation Provisions . In the event of termination pursuant to any subsection <br /> hereunder, the terminating Party shall not be relieved of any existing and <br /> underperformed obligations up until the effective date of termination , and the <br /> Agreement shall remain in effect as to the non -withdrawing Parties . The non - <br /> withdrawing Parties, beginning at the time of notice of termination is received , shall <br /> work together in good faith to determine if the intent and purpose of the Agreement <br />