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Agenda - 03-21-2000-5a
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Agenda - 03-21-2000-5a
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Last modified
8/29/2008 6:01:18 PM
Creation date
8/29/2008 11:16:25 AM
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BOCC
Date
3/21/2000
Document Type
Agenda
Agenda Item
5a
Document Relationships
2000 S EDC - Approval of Resolution Concerning Revised Documents Governing Orange County Small Business Loan Program
(Linked From)
Path:
\Board of County Commissioners\Contracts and Agreements\General Contracts and Agreements\2000's\2000
Minutes - 03-21-2000
(Linked To)
Path:
\Board of County Commissioners\Minutes - Approved\2000's\2000
RES-2000-021 Resolution Regarding Orange County Small Business Loan Program
(Linked From)
Path:
\Board of County Commissioners\Resolutions\2000-2009\2000
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io <br />ARTICLE V <br />l1'II~CELLANEOUS <br />5.01. Remedies on Default. (a) Upon the occurrence and continuation of <br />any Event of Default, the non-defaulting party may (i) incur and pay such reasonable <br />expenses for the defaulting party's account as may be necessary to cure the cause of any <br />default, (ii) avail itself of all remedies available under this Support Agreement, and (iii) <br />proceed to protect and .enforce its rights under this Support Agreement by all means <br />available a law or in equity, including by an action for the specific performance of any <br />covenant, agreement or other provision of this Support Agreement as may be most <br />effectual to protect and enforce such rights. <br />(b) All remedies under this Support Agreement are cumulative and may be <br />exercised concurrently or separately. The exercise of any one remedy shall not be deemed <br />an election of such remedy or preclude the exercise of any other remedy. If any Event of <br />Default shall occur and thereafter be waived, such waiver shall be limited to the <br />particular breach so waived and shall not be deemed a waiver of any other breach under <br />this Support Agreement. <br />5.02. ~ ' i i To the extent permitted by law, the Company shall <br />indemnify, protect and save the County and its officers harmless from all liability, <br />obligations, losses; claims, damages, actions, suits, proceedings, costs and expenses, <br />including attorneys' fees and costs of investigation and discovery, arising out of, <br />connected with, or resulting dixectly or indirectly from the transactions contemplated by <br />this Support Agreement, the Loan Agreement or otherwise with respect to the Loan <br />Program. The indemnification arising under this Section shall survive this Support <br />Agreement's termination. <br />5.03. Rights of Third Parties. The Banks are the only intended third-party <br />beneficiaries of this Support Agreement. <br />5.04. f ili No covenant, condition or agreement <br />contained in this Support Agreement shall be deemed to be a covenant, agreement ar <br />obligation of a present or fixture officer, employee or agent of the Company or the County <br />in such person's individual capacity. No Company or County officer, employee or agent <br />shall incur any personal liability with respect to any action taken pursuant to this Support <br />Agreement, provided such person acts in goad faith. <br />5.05. Severabilitv. The provisions of this Support Agreement are hereby <br />declared to be severable. if any court of competent jurisdiction shall hold any provision <br />of this Support Agreement to be invalid and unenforceable, such holding shall not <br />invalidate any other provision. <br />5 <br />
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