Common Contracts
1 similar Grant Award Contract contracts
TERM SHEET FORGrant Award Contract • April 26th, 2018
This Term Sheet summarizes the basic terms upon which Triumph Gulf Coast, Inc. (“Triumph”) is considering awarding a grant to the Panama City Port Authority (the “Authority”) under the Triumph Gulf Coast Trust Fund. This Term Sheet is intended for discussion and negotiation purposes only and (a) does not constitute a grant, or an approval of a grant, by Triumph to the Authority, and (b) does not create any binding obligations on Triumph or the Authority with respect to (i) any grant, (ii) any approval of a grant, or (iii) engaging in any further discussions or negotiations with respect to a grant. Any binding agreement between Triumph and the Authority with respect to any grant must be contained in a definitive grant award contract (“Contract”), approved by the respective Boards of Directors of Triumph and the Authority and executed by Triumph and the Authority. At any time prior to such execution of a Contract, either Triumph or the Authority may terminate negotiations, and upon such
