Purchase of System by City on Nonrenewal Clause Samples

Purchase of System by City on Nonrenewal. If the City determines not to renew a ▇▇▇▇▇▇▇'s Franchise, the Grantee shall first offer the Cable System for sale to the City at fair market value, determined on the basis of the Cable System valued as a going concern but with no value allocated to the Franchise itself. The following procedures shall be followed: (i) If the determination of fair market value cannot be negotiated or determined, the value shall be determined by an impartial appraisal procedure pursuant to Ch. 788, Wis. Stats., wherein the Grantee and the City shall each choose an appraiser and the appraisers chosen shall choose a third appraiser and the valuation determined by such appraisers shall be considered the fair market value at which the Cable System will be offered to the City. The determination of the value of the Cable System shall be decreased by the amount of any damages sus tained by the City in connection with nonrenewal, including without limitation, payment made by the City to another Person or entity to operate the Cable System for a temporary period after nonrenewal. The cost of the appraisal procedure shall be shared equally by the City and the Grantee. (ii) The City shall have ninety (90) days commencing on the day the fair market value of the Cable System is determined either through negotiation or the appraisal procedure to exercise its option to purchase. If the City does not exercise its option to purchase, and the Cable System is not sold to another operator who has obtained a Franchise from the City, the Grantee, upon request by the City, shall promptly remove all its facilities. While transfer of the Cable System and Franchise is being negotiated, arranged or ordered, the Grantee may be required to continue service to the public.
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Related to Purchase of System by City on Nonrenewal

  • COMMERCIAL REUSE OF SERVICES The member or user herein agrees not to replicate, duplicate, copy, trade, sell, resell nor exploit for any commercial reason any part, use of, or access to 's sites.

  • Termination and Renewal This Agreement shall be in full force and effect until March 31, 2024 2027 and shall continue in effect from year to year thereafter unless either party gives notice, in writing, not more than ninety (90) days nor less than sixty (60) days prior to any expiration or modification date of its desire to terminate or modify such Agreement; provided that, in the event the Union serves written notice in accordance with this Section, any strike or stoppage of work after any expiration or modification date shall not be deemed in violation of any provision of this Agreement, any other provision to the contrary notwithstanding.

  • Nonrenewal We may elect not to renew this policy. We may do so by delivering to you, or mailing to you at your mailing address shown in the Declarations, written notice at least 30 days before the expiration date of this policy. Proof of mailing will be sufficient proof of notice.

  • 2Renewal (a) This Agreement will be renewed for successive periods of ten (10) years upon the expiration of the initial Term set forth in Section 4.1 and each successive Term, unless: (i) Following notice by ICANN to Registry Operator of a fundamental and material breach of Registry Operator’s covenants set forth in Article 2 or breach of its payment obligations under Article 6 of this Agreement, which notice shall include with specificity the details of the alleged breach, and such breach has not been cured within thirty (30) calendar days of such notice, (A) an arbitrator or court of competent jurisdiction has finally determined that Registry Operator has been in fundamental and material breach of such covenant(s) or in breach of its payment obligations, and (B) Registry Operator has failed to comply with such determination and cure such breach within ten (10) calendar days or such other time period as may be determined by the arbitrator or court of competent jurisdiction; or (ii) During the then current Term, Registry Operator shall have been found by an arbitrator (pursuant to Section 5.2 of this Agreement) or a court of competent jurisdiction on at least three (3) separate occasions to have been in (A) fundamental and material breach (whether or not cured) of Registry Operator’s covenants set forth in Article 2 or (B) breach of its payment obligations under Article 6 of this Agreement. (b) Upon the occurrence of the events set forth in Section 4.2(a) (i) or (ii), the Agreement shall terminate at the expiration of the then-current Term.

  • Auto-Renewal In the event that this Agreement is automatically renewed, the Business Associate agrees to be bound by the terms of this Agreement and laws referenced in this Agreement that are current and in effect at the time of renewal.