OTHER-2025-049-Approval of Sportsplex Management Services Agreement

Browse Search

Docusign Envelope ID : 177AA06A-30B442FF-A85A-78B5A7C51DBE 4 . 1 Term . The Term of this Agreement shall begin on the Effective Date and , unless sooner terminated pursuant to the provisions of Section 4 . 2 below, shall expire on June 30 , 2030 . Notwithstanding anything to the contrary herein , Owner's engagement of Manager as provided herein and Manager' s acceptance of such engagement are each expressly subject to and conditioned upon Manager's presentation of a draft Pro Forma budget , and Owner' s approval of the draft Pro Forma budget , within sixty (60 ) days after the Effective Date . If Owner does not approve Manager' s draft Pro Forma budget , this Agreement shall be null and void and Manager shall retain the first two months fees paid to it , as full compensation for its consulting services in preparing the draft Pro Forma budget . 4 . 2 Early Termination . This Agreement may be terminated by Owner or Manager, with or without cause , at any time by providing the other party with written notice on or before the date such terminating party wishes to terminate this Agreement (the " Termination Date " ) as provided in this subsection . (a ) For Owner' s Convenience : Owner shall have the right to terminate this Agreement for any reason or no reason upon twelve ( 12 ) months ' notice to Manager. ( b ) For Manager' s Convenience : Manager shall have the right to terminate this Agreement for any reason or no reason upon twelve ( 12 ) months ' notice to Owner. 4 . 3 Effect of Early Termination . (a ) Upon termination or expiration of this Agreement for any reason , ( i ) Manager shall promptly discontinue the performance of all services hereunder, ( ii ) the Owner shall promptly pay Manager all fees due Manager up to the date of termination or expiration (subject to proration if the Term ends other than at the end of the Fiscal Year) , (iii ) Manager shall make available to the Owner all data , electronic files , documents , procedures , reports , estimates , summaries , and other such information and materials with respect to the Facility as may have been accumulated by Manager in performing its obligations hereunder, whether completed or in process , ( iv) Manager shall , in a commercially reasonable manner, cooperate and assist Owner in the transition of management to the successor Facility manager, and (v) Manager shall transfer to Owner all funds in all Operating Accounts . ( b ) Without any further action on part of Manager or Owner, the Owner shall , or shall cause the successor Facility Manager to , assume all obligations arising after the date of such termination or expiration , under any Service Contracts , Revenue Generating Contracts , booking commitments and any other Facility agreements entered into by Manager in furtherance of its duties hereunder. Any obligations of the parties that are designated herein to survive expiration or termination of this Agreement shall survive early termination hereof.