Common use of OPTION TO TERMINATE AGREEMENT Clause in Contracts

OPTION TO TERMINATE AGREEMENT. In the event the Applicant determines that it will not commence or complete construction of the Applicant’s Qualified Investment, the Applicant shall have the option, prior to the commencement of the Tax Limitation Period, to terminate this Agreement by notifying the District in writing of its exercise of such option. In such event, any payment due from the Applicant to the District under Articles IV, V, and VI of this Agreement shall be due to the District within thirty (30) days after it delivers its termination election. Any termination of this Agreement under the foregoing provision of this Section 4.10 shall be effective immediately. ARTICLE V

OPTION TO TERMINATE AGREEMENT. In the event the Applicant determines that it will not commence or complete construction of the Applicant’s Qualified Investment, the Applicant shall have the option, prior to the commencement beginning of the Tax Limitation Period, to terminate this Agreement without penalty by notifying the District in writing of its exercise of such option. In such event, any Any payment otherwise due from the Applicant to the District under Articles IV, V, and VI of this Agreement shall be due paid to the District within thirty (30) 30 days after it the Applicant delivers its termination election. Any termination of this Agreement under the foregoing provision of this Section 4.10 shall be effective immediately. ARTICLE V

OPTION TO TERMINATE AGREEMENT. In the event the Applicant determines that it will not commence or complete construction of the Applicant’s Qualified Investment, the Applicant shall have the option, prior to the commencement of the Tax Limitation Period, to terminate this Agreement pursuant to Section 7.1 by notifying the District in writing of its exercise of such option. In such event, Applicant shall pay any payment payments due from the Applicant to the District and not yet paid as of termination under Articles IV, V, and or Supplemental Payments payable under Article VI for the year of this Agreement shall be due to the District termination within thirty (30) days after it Applicant delivers its termination election. Any termination of this Agreement under the foregoing provision of this Section 4.10 shall be effective immediately. ARTICLE V.

OPTION TO TERMINATE AGREEMENT. In the event the Applicant determines that it will not commence or complete construction of the Applicant’s Qualified Investment, the Applicant shall have the option, prior to the commencement of the Tax Limitation Period, to terminate this Agreement by notifying the District in writing of its exercise of such option. In such event, any payment due from the Applicant to the District under Articles IV, V, and VI of this Agreement shall be due to the District within thirty (30) days after it delivers its termination election. Any termination of this Agreement under the foregoing provision of this Section 4.10 shall be effective immediately. ARTICLE V.

OPTION TO TERMINATE AGREEMENT. In the event the Applicant determines that it will not commence or complete construction of the Applicant’s Qualified Investment, the Applicant shall have the option, prior to the commencement of the Tax Limitation Period, to terminate this Agreement by notifying the District in writing of its exercise of such option. In such event, Applicant shall remit any payment otherwise due from the Applicant to the District under Articles IV, V, and VI of this Agreement shall be due to the District accruing through (but not after) date of termination within thirty (30) days after it delivers its termination election. Any termination of this Agreement under the foregoing provision of this Section 4.10 4.11 shall be effective immediately. ARTICLE V