Termination by City Upon the Occurrence of Certain Events. The City may terminate this Agreement immediately and without additional notice and without any additional compensation owing to Troon after the applicable termination date hereunder in the event that (i) Troon has committed an Event of Default which has not been cured in accordance with the terms of Article 12.1 hereof, (ii) Troon engages in conduct which materially impacts the reputation of the Golf Resort adversely after written notice from the City specifying in detail the conduct of Troon in that regard, and an opportunity to cure, or (iii) Troon files a petition of any type in bankruptcy, is declared bankrupt, becomes insolvent, makes an assignment for the benefit of creditors, or goes into liquidation or receivership. As a condition to any termination pursuant to this Article 6.2, the City shall pay Troon all Management Fees and other amounts due Troon under this Agreement for the period of time prior to the termination date, including, but not limited to, the Key Money Repayment Amount.
Termination by City Upon the Occurrence of Certain Events. The City may terminate this Agreement immediately and without additional notice and without any additional compensation owing to Birdies hereunder, in the event that (i) Birdies has committed an Event of Default which has not been cured in accordance with the terms of Section 10.01 herein, (ii) Birdies engages in conduct which materially impacts adversely the reputation of the Golf Facility after written notice from the City specifying in detail the conduct of Birdies in that regard, and an opportunity to cure as specified in said notice, or (iii) Birdies files a petition of any type in bankruptcy, is declared bankrupt, becomes insolvent, makes an assignment for the benefit of creditors, or goes into liquidation or receivership.
