NWS HOLDINGS LLC 12/30/2024 - Laserfiche WebLink

Convenience Termination Payment= s Ram 1.2 x (NSI Project(s)Total Cost) x Days 4015 in9 Other Payments 4015 "NWS Project(s) Total Cost" is the cost established under Section D.4 above for the NWS Initial Project (plus costs for additional approved projects under Section F below, if any). NWS Project(s) Total Cost does not include costs related to the NWS Extension Term Turf Project. "Days Remaining" means the number of days between the Agreement termination date and December 31, 2035. "Other Payments" means the total of all other payments due from NWS to the City as of the Agreement termination date, such as, but not limited to, monthly fees and utility payments accruing up to the Agreement termination date and any interest thereon. Example Calculation: With the initial Term as 1.1.25 to 12.31.35, if the NWS Project(s) Total Cost is $2,000,000 and the termination date is 12.31.30, then the Convenience Termination Payment would equal: = 1.2 X ($2,000,000) X 1825/4015 = $1,090,909.09 The Convenience Termination Payment only applies to termination for convenience under Agreement Section 5(b) and Section 5(c) and does not apply to any other termination in the Agreement. The City will pay the Convenience Termination Payment within thirty (30) days after the Agreement termination date. F. Additional NWS Projects. NWS may request to undertake at NWS's sole cost one or more additional projects on the Ballfield Property and to include total costs of such project(s) in the Convenience Termination Payment calculation in subsection E above. If the Parks & Facilities Director or designee approves the request (which is at the Director or designee's sole discretion), then such project will be undertaken by NWS using the same procedures and requirements as set forth in this Exhibit,with deadlines as mutually agreed in writing at the time of such approval. Exhibit C-4