Common use of Covenants of the County Clause in Contracts

Covenants of the County. (a) To the best of its ability, the County will at all times maintain its corporate existence and will use its best efforts to maintain, preserve, and renew all its rights, powers and privileges; and it will comply with all valid acts, rules, regulations, orders, and directions of any legislative, executive, administrative, or judicial body applicable to this Agreement. (b) The County acknowledges that the Park Agreement will expire pursuant to its terms on December 1, 2040 (the “Original Termination Date”). In the event of any early termination of the Park Agreement or the termination of the Park Agreement on the Original Termination Date, any of which affect payment or utilization of the Infrastructure Credits, the County agrees to use its best commercially reasonable efforts to cause the Project, at the Companies’ expense, pursuant to Section 4-1-170 of the Act or any successor provision, to be included in a duly authorized, executed and delivered successor joint county industrial park agreement with an adjoining South Carolina county, which successor agreement shall contain a termination date occurring no earlier than the final year as to which any Infrastructure Credit shall be payable under this Agreement. (c) The County covenants that it will from time to time, at the request and expense of the Operating Company, execute and deliver such further instruments and take such further action as may be reasonable and as may be required to carry out the purpose of this Agreement; provided, however, that such instruments or actions shall never create or constitute a general obligation or an indebtedness of the County within the meaning of any State constitutional provision (other than the provisions of Article X, Section 14(10) of the South Carolina Constitution) or statutory limitation and shall never constitute or give rise to a pecuniary liability of the County or a charge against its general credit or taxing power or pledge the full faith, credit or taxing power of the State, or any other political subdivision of the State.

Covenants of the County. (a) To the best of its ability, the County will at all times maintain its corporate existence and will use its best efforts to maintain, preserve, and renew all its rights, powers and privileges; and it will comply with all valid acts, rules, regulations, orders, and directions of any legislative, executive, administrative, or judicial body applicable to this Agreement. (b) The County acknowledges that the Park Agreement will expire pursuant to its terms on December 1, 2040 (the “Original Termination Date”). In the event of any early termination of the Park Agreement or the termination of the Park Agreement on the Original Termination Date, any of which affect payment or utilization of Date if the Infrastructure CreditsCredits authorized in this Agreement are still outstanding, the County agrees to use its best commercially reasonable efforts to cause the Project, at the Companies’ Company’s expense, pursuant to Section 4-1-170 of the Act or any successor provision, to be included in a duly authorized, executed and delivered successor joint county industrial park agreement with an adjoining South Carolina county, which successor agreement shall contain a termination date occurring no earlier than the final year as to which any Infrastructure Credit shall be payable under this Agreement. (c) The County covenants that it will from time to time, at the request and expense of the Operating Company, execute and deliver such further instruments and take such further action as may be reasonable and as may be required to carry out the purpose of this Agreement; provided, however, that such instruments or actions shall never create or constitute a general obligation or an indebtedness of the County within the meaning of any State constitutional provision (other than the provisions of Article X, Section 14(10) of the South Carolina Constitution) or statutory limitation and shall never constitute or give rise to a pecuniary liability of the County or a charge against its general credit or taxing power or pledge the full faith, credit or taxing power of the State, or any other political subdivision of the State.

Covenants of the County. (a) To the best of its ability, the County will at all times maintain its corporate existence and will use its best efforts to maintain, preserve, and renew all its rights, powers and privileges; and it will comply with all valid acts, rules, regulations, orders, and directions of any legislative, executive, administrative, or judicial body applicable to this Agreement. (b) The County acknowledges that the Park Agreement will expire pursuant to its terms on December 1, 2040 (the “Original Termination Date”). In the event of any early termination of the Park Agreement or the termination of the Park Agreement on the Original Termination Date, any of which affect payment or utilization of the Infrastructure Credits, the County agrees to use its best commercially reasonable efforts to cause the Project, at the Companies’ Company’s expense, pursuant to Section 4-1-170 of the Act or any successor provision, to be included in a duly authorized, executed and delivered successor joint county industrial park agreement with an adjoining South Carolina county, which successor agreement shall contain a termination date occurring no earlier than the final year as to which any Infrastructure Credit shall be payable under this Agreement. (c) The County covenants that it will from time to time, at the request and expense of the Operating Company, execute and deliver such further instruments and take such further action as may be reasonable and as may be required to carry out the purpose of this Agreement; provided, however, that such instruments or actions shall never create or constitute a general obligation or an indebtedness of the County within the meaning of any State constitutional provision (other than the provisions of Article X, Section 14(10) of the South Carolina Constitution) or statutory limitation and shall never constitute or give rise to a pecuniary liability of the County or a charge against its general credit or taxing power or pledge the full faith, credit or taxing power of the State, or any other political subdivision of the State.