State Default. The failure by the Board, the Local Governmental Entities or the Governor, to approve the Exemption for the Company in the manner provided by the Rules, constitutes a default under this Agreement. Upon the occurrence of such default, Company is relieved of all obligations hereunder and this Agreement shall automatically terminate without any further remedy to or obligation imposed upon Company.
Appears in 5 contracts
Samples: Contract for Exemption of Ad Valorem Taxes, Contract for Exemption of Ad Valorem Taxes, Contract for Exemption of Ad Valorem Taxes
