Declaration of Invalidity Sample Clauses
Declaration of Invalidity. In the event that a court of competent jurisdiction declares that the County cannot pay and/or that the Agency cannot receive payments of the Tax Increment, declares that the Agency cannot pay the Tax Increment to developers, or takes any other action which has the effect of eliminating or reducing the payments of Tax Increment received by the Agency, the Agency’s obligation to pay the Tax Increment to developers shall be reduced or eliminated accordingly, the Agency, and the County shall take such steps as are reasonably required to not permit the payment and/or receipt of the Tax Increment to be declared invalid.
Declaration of Invalidity. In the event that any provision of this Agreement 29 is declared to be invalid, the parties shall, upon ten (10) days written notice to the other, 30 negotiate, in good faith, with a view toward agreeing upon a lawful substitute. In the 31 event the parties are unable to reach agreement on a substitute, an arbitrator shall be 32 appointed, pursuant to the procedure set forth in Article 7.
1 The arbitrator shall only have authority to select between the final proposals made by 2 each party. The decision of the arbitrator shall be final and binding on the parties. The 3 expense of any arbitration shall be shared equally by the Employer and the Association. 4 However, each party shall bear its own expenses of representation.
Declaration of Invalidity. In the event that a court of competent jurisdiction declares that the School District cannot pay and/or that the Agency cannot receive payments of the Tax Increment, declares that the Agency cannot pay the Tax Increment to Participant(s), or takes any other action which has the effect of eliminating or reducing the payments of Tax Increment received by the Agency, then the Agency, and the School District shall take such steps as are reasonably required to not permit the payment and/or receipt of the Tax Increment to be declared invalid and to otherwise preserve the intent and effect of this Agreement to the maximum extent possible.
Declaration of Invalidity. If, during the life of this Agreement, there exists any applicable law or any applicable rule, regulation, or order issued by governmental authority other than that of the District or decision of a court of competent jurisdiction, which shall render any provision of this Agreement invalid, such provision shall be immediately suspended and be of no effect hereunder so long as such law, rule, regulation, or order shall remain in effect. Such invalidation of a part or portion of this Agreement shall not invalidate any remaining portions which shall continue in full force and effect.
Declaration of Invalidity. In the event a court of competent jurisdiction after final adjudication (by the highest court to which the matter may be appealed)
(i) declares that the Agency cannot receive Tax Increment or reimburse the Participant from Tax Increment as provided in this Agreement, (ii) invalidates the Project Area, or (iii) takes any other action which eliminates or reduces the amount Tax Increment paid to the Agency, the Agency’s obligation to pay such amounts to the Participant hereunder shall be accordingly reduced or eliminated. The Participant specifically reserves and does not waive hereunder any right it may have to challenge a ruling, decision or order by any court that would reduce or eliminate the payment of Tax Increment to the Agency. The Participant acknowledges, understands and agrees that the Agency is under no obligation to challenge a ruling, decision or order by any court that reduces or eliminates the payment of Property Tax Increment to the Agency; provided, the Agency will not oppose the Participant and will cooperate with Participant if Participant challenges a ruling by any court. Additionally, if any court invalidates the Project Area Plan or Project Area Budget as a result of a procedural defect, the Agency shall take such actions as are necessary to correct such procedural defect and adopt the Project Area Plan and Project Area Budget. In the event any court invalidates the Tax Increment provided in support of the Project, the Participant is hereby released from any and all obligations made by the Participant to the Agency. For further clarity, the Participant at its sole and exclusive discretion may, without penalty, terminate its obligations under this Agreement if any court invalidates the Participant’s right to receive all or any portion of the Tax Increment.
Declaration of Invalidity. In the event that any provision of this Agreement 31 is declared to be invalid, the parties shall, upon ten (10) days written notice to the other, Page 55 of 60 Date Accepted / / 1 negotiate, in good faith, with a view toward agreeing upon a lawful substitute. In the 2 event the parties are unable to reach agreement on a substitute, an arbitrator shall be 3 appointed, pursuant to the procedure set forth in Article 7. 4 5 The arbitrator shall only have authority to select between the final proposals made by 6 each party. The decision of the arbitrator shall be final and binding on the parties. The 7 expense of any arbitration shall be shared equally by the Employer and the Association. 8 However, each party shall bear its own expenses of representation. 9
Declaration of Invalidity. Notwithstanding anything herein to the contrary, the Village, its Corporate Authorities, officials, agents, employees and independent contractors shallnot be liable to the Developer for damages of any kind or nature whatsoever or otherwise in the event that all or any part of the TIF Act, or any of the TIF Ordinances or other ordinances of the Village adopted in connection with either the TIF Act, this Agreement or the Redevelopment Plan, shall be declared invalid or unconstitutional in whole or in part by the final (as to which all rights of appeal have expired or have been exhausted) judgment of any court of competent jurisdiction, and by reason thereof either the Village is prevented from performing any of the covenants and agreements herein or the Developer is prevented from enjoying the rights and privileges hereof; provided that nothing in this Section 8.1 shall limit otherwise permissible claims by the Developer against the Fund or actions by the Developer seeking specific performance of this Agreement or other relevant contracts, if any, in the event of a Breach of this Agreement by the Village.
Declaration of Invalidity. In the event that (i) a court of competent jurisdiction declares that Cache County cannot pay and/or that the Agency cannot receive payments of the portion of the Tax Increment described herein, (ii) declares the Agency cannot pay proceeds from the portion of the Tax Increment that it receives pursuant to this Agreement to developers,
Declaration of Invalidity. In the event that a court of competent jurisdiction declares that the District cannot pay and/or that the Agency cannot receive payments of the Tax Increment, declares that the Agency cannot pay the Tax Increment to developers, or takes any other action which has the effect of eliminating or reducing the payments of Tax Increment received by the Agency, the Agency’s obligation to pay the Tax Increment to developers shall be reduced or eliminated accordingly, the Agency, and the District (at no out-of-pocket cost to the District) shall take such steps as are reasonably required to not permit the payment and/or receipt of the Tax Increment to be declared invalid.
Declaration of Invalidity. In the event that a court of competent jurisdiction declares that the County or the City cannot pay and/or that the Agency cannot receive payments of the Tax Increment, declares that the Agency cannot pay the Tax Increment to Participants, or takes any other action which has the effect of eliminating or reducing the payments of Tax Increment received by the Agency, the Agency's obligation to pay the Tax Increment to Participants shall be reduced or eliminated accordingly; provided, however, the Agency and the City shall take such steps as are reasonably required to not permit the payment and/or receipt of the Tax Increment to be declared invalid.