Modification of Project. (a) As long as no event of default exists hereunder, the Company shall have the right at any time and from time to time during the Term hereof to undertake any of the following: (i) The Company may, at its own expense, add to the Project all such real and personal property as the Company in its discretion deems useful or desirable; provided, however, such real and personal property is located in the same taxing district as the Project. The Company may add Land to the Project by delivering to the County a new EXHIBIT “A” to this Agreement reflecting such addition. (ii) In any instance where the Company in its discretion determines that any items included in the Project have become inadequate, obsolete, worn out, unsuitable, undesirable, or unnecessary for operations at the Project, the Company may remove such items or portions from the Project and sell, trade in, exchange, or otherwise dispose of them (as a whole or in part) without the consent of the County. The Company may sell, lease, or otherwise dispose of any portion of the Land, in which event the Company shall deliver to the County, within 30 days thereafter, a new EXHIBIT “A” to this Agreement. (b) No release of Project property effected under the provisions of Section 7.01 or 7.02 hereof or of this Section 4.03 shall entitle the Company to any abatement or diminution of the amounts payable by the Company hereunder except the FILOT Payments as specified in Section 5.01(d) hereof.
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Samples: Fee in Lieu of Tax Agreement, Fee in Lieu of Tax Agreement, Fee in Lieu of Tax Agreement
