Common use of Good Faith Check Clause in Contracts

Good Faith Check. Delivered to the Board herewith is a corporate check of the Representative, payable to the order of the Board in the sum of $ (the "Good Faith Check"). In the event that this offer is accepted, the Good Faith Check shall be held uncashed by the Board until the Closing and in the event the Underwriters comply with their obligations to accept and pay for the Certificates, as provided herein, said check shall be returned to the Representative at the Closing. In the event that the Board does not approve this offer, the Good Faith Check shall be immediately returned to the Representative. In the event that the Underwriters fail (other than for a reason permitted hereunder) to accept and pay for the Certificates at the Closing as herein provided, the Board may cash the Good Faith Check and apply the funds to defray its expenses and to pay liquidated damages for such failure and for any defaults hereunder on the part of the Underwriters, and such use shall constitute a full release and discharge of all claims by the Board against the Underwriters arising out of the transactions contemplated hereby. In the event of the failure by the Board to deliver the Certificates at the Closing, or if the Board shall be unable to satisfy the conditions to the obligations of the Underwriters contained herein (unless such conditions are waived by the Representative), or if the obligations of the Underwriters shall be terminated for any reason permitted hereunder, the Board shall immediately cause the Good Faith Check to be returned to the Representative, and such return shall constitute a full release and discharge of all claims by the Underwriters against the Board arising out of the transactions contemplated hereby.

Good Faith Check. Delivered to the Board herewith is a corporate check of the Representative, payable to the order of the Board in the sum of $ (the "Good Faith Check"). In the event that this offer is accepted, the Good Faith Check shall be held uncashed by the Board until the Closing and in the event the Underwriters comply with their obligations to accept and pay for the Series 2015 Certificates, as provided herein, said check shall be returned to the Representative at the Closing. In the event that the Board does not approve this offer, the Good Faith Check shall be immediately returned to the Representative. In the event that the Underwriters fail (other than for a reason permitted hereunder) to accept and pay for the Series 2015 Certificates at the Closing as herein provided, the Board may cash the Good Faith Check and apply the funds to defray its expenses and to pay liquidated damages for such failure and for any defaults hereunder on the part of the Underwriters, and such use shall constitute a full release and discharge of all claims by the Board against the Underwriters arising out of the transactions contemplated herebyhereby by the parties. In the event of the failure by the Board to deliver the Series 2015 Certificates at the ClosingClosing as a result of no fault of the Underwriters, or if the Board shall be unable to satisfy the conditions to the obligations of the Underwriters contained herein (unless such conditions are waived by the Representative), or if the obligations of the Underwriters shall be terminated for any reason permitted hereunder, the Board shall immediately cause the Good Faith Check to shall be immediately returned to the Representative, and such return shall constitute a full release and discharge of all claims by the Underwriters against the Board arising out of the transactions contemplated hereby.

Good Faith Check. Delivered to the Board herewith Issuer with this Agreement is a corporate check of the Representative, Representative payable to the order of the Board Issuer in the sum amount of $ (the "Good Faith Check"). In the event that the Issuer accepts this offer is acceptedAgreement, such check shall be held by the Good Faith Check Issuer as security for the performance by the Underwriters of their obligations to purchase, accept delivery of and pay for the Bonds under this Agreement. Such check shall be held uncashed by the Board Issuer until the time of the Closing and in the event the Underwriters comply with their obligations to accept and pay for the Certificates(defined herein), as provided herein, said at which time such check shall be returned uncashed to the Representative at upon the Closingpurchase and delivery of the Bonds. In the event that the Board Issuer does not approve accept this offerAgreement, the Good Faith Check shall such check will be immediately returned to the Representative. Should the Issuer fail to deliver the Bonds at the Closing, or if the Issuer is unable to satisfy the conditions of the obligations of the Underwriters to purchase, accept delivery of and pay for the Bonds, as set forth in this Agreement (unless waived by the Representative), or if such obligations of the Underwriters are terminated for any reason permitted by this Agreement, such check shall immediately be returned to the Representative. In the event that the Underwriters fail (other than for a reason permitted hereunderunder this Agreement) to purchase, accept delivery of and pay for the Certificates Bonds at the Closing as herein providedprovided in this Agreement, such check shall be cashed and the Board may cash amount of the Good Faith Check check retained by the Issuer as and apply the funds to defray its expenses for fully liquidated damages, and to pay liquidated damages not as a penalty for such failure of the Underwriters, and for any defaults hereunder under this Agreement on the part of the Underwriters, and . Acceptance of such use check by the Issuer shall constitute a full release and discharge of all claims by and damages for such failure and/or any and all such defaults, and the Board Issuer shall have no further action for damages, specific performance or any other legal or equitable relief against the Underwriters arising out for the Underwriters’ failure to purchase, accept delivery of and pay for the transactions contemplated herebyBonds. In The Underwriters and the Issuer understand that in such event of the failure by the Board to deliver the Certificates at the ClosingIssuer’s actual damages may be greater or may be less than such amount. Accordingly, or if the Board shall be unable to satisfy the conditions to the obligations of the Underwriters contained herein (unless hereby waive any right to claim that the Issuer’s actual damages are less than such conditions are waived by the Representative), or if the obligations of the Underwriters shall be terminated for any reason permitted hereunder, the Board shall immediately cause the Good Faith Check to be returned to the Representativeamount, and such return the Issuer’s acceptance of this Agreement shall constitute a full release and discharge waiver of all claims by any right the Issuer may have to additional damages from the Underwriters against for the Board arising out Underwriters’ failure to purchase, accept delivery of and pay for the Bonds. The Representative agrees not to stop payment on such check, or cause payment on such check to be stopped, unless the Issuer has materially breached any of the transactions contemplated herebyterms of this Agreement.

Good Faith Check. Delivered to the Board herewith is a corporate check of the Representative, payable to the order of the Board in the sum of $ (the "Good Faith Check"). In the event that this offer is accepted, the Good Faith Check shall be held uncashed by the Board until the Closing and in the event the Underwriters comply with their obligations to accept and pay for the Certificates, as provided herein, said check shall be returned to the Representative at the Closing. In the event that the Board does not approve this offer, the Good Faith Check shall be immediately returned to the Representative. In the event that the Underwriters fail (other than for a reason permitted hereunder) to accept and pay for the Certificates at the Closing as herein provided, the Board may cash the Good Faith Check and apply the funds to defray its expenses and to pay liquidated damages for such failure and for any defaults hereunder on the part of the Underwriters, and such use shall constitute a full release and discharge of all claims by the Board against the Underwriters arising out of the transactions contemplated hereby. In the event of the failure by the Board to deliver the Certificates at the ClosingClosing as a result of no fault of the Underwriters, or if the Board shall be unable to satisfy the conditions to the obligations of the Underwriters contained herein (unless such conditions are waived by the Representative), or if the obligations of the Underwriters shall be terminated for any reason permitted hereunder, the Board shall immediately cause the Good Faith Check to be returned to the Representative, and such return shall constitute a full release and discharge of all claims by the Underwriters against the Board arising out of the transactions contemplated hereby.

Good Faith Check. Delivered to the Board herewith is a corporate check of the RepresentativeUnderwriter, payable to the order of the Board in the sum of $ (the "Good Faith Check"). In the event that this offer is accepted, the Good Faith Check shall be held uncashed by the Board until the Closing and in the event the Underwriters comply Underwriter complies with their its obligations to accept and pay for the Certificates, as provided herein, said check shall be returned to the Representative Underwriter at the Closing. In the event that the Board does not approve this offer, the Good Faith Check shall be immediately returned to the RepresentativeUnderwriter. In the event that the Underwriters fail Underwriter fails (other than for a reason permitted hereunder) to accept and pay for the Certificates at the Closing as herein provided, the Board may cash the Good Faith Check and apply the funds to defray its expenses and to pay liquidated damages for such failure and for any defaults hereunder on the part of the UnderwritersUnderwriter, and such use shall constitute a full release and discharge of all claims by the Board against the Underwriters Underwriter arising out of the transactions contemplated hereby. In the event of the failure by the Board to deliver the Certificates at the ClosingClosing as a result of no fault of the Underwriter, or if the Board shall be unable to satisfy the conditions to the obligations of the Underwriters Underwriter contained herein (unless such conditions are waived by the RepresentativeUnderwriter), or if the obligations of the Underwriters Underwriter shall be terminated for any reason permitted hereunder, the Board shall immediately cause the Good Faith Check to be returned to the Representative, and such return shall constitute a full release and discharge of all claims by the Underwriters against the Board arising out of the transactions contemplated herebyUnderwriter.