Common use of Suspension of Charter Clause in Contracts

Suspension of Charter. Notwithstanding any other provision of this Charter, the University may immediately suspend the Charter at any time upon notice pending completion of the procedures for revocation of the Charter if the President of the University determines that probable cause exists to believe that the Organizer or the Charter School: (i) has placed staff or students at risk; (ii) is not properly exercising its fiduciary obligations to protect and preserve the Charter School’s public funds and property; (iii) has lost its right to occupancy of the Charter School’s physical facilities, and cannot find another suitable physical facility for the Charter School prior to the expiration or termination of its right to occupy its existing physical facilities; (iv) has failed to secure or has lost the necessary fire, health, and safety approvals as required by Indiana law and applicable regulations; (v) has failed to obtain or has lost any of the insurance coverage required under the Charter; or (vi) has willfully or intentionally violated this Charter or Applicable Law.

Suspension of Charter. Notwithstanding any other provision of this Charter, the University may immediately suspend the Charter at any time upon notice pending completion of the procedures for revocation of the Charter if the President of the University determines that probable cause exists to believe that the Organizer or the Charter School: (i) has placed staff or students at risk; (ii) is not properly exercising its fiduciary obligations to protect and preserve the Charter School’s public funds and property;preserve (iii) has lost its right to occupancy of the Charter School’s physical facilities, and cannot find another suitable physical facility for the Charter School prior to the expiration or termination of its right to occupy its existing physical facilities; (iv) has failed to secure or has lost the necessary fire, health, and safety approvals as required by Indiana law and applicable regulations; (v) has failed to obtain or has lost any of the insurance coverage required under the Charter; or (vi) has willfully or intentionally violated this Charter or Applicable Law.