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Resolution 5871
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Resolution 5871
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12/13/2016 9:14:32 AM
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Resolutions
Resolution Number
5871
Date
2/21/2007
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20.11 Waiver <br /> No delay in exercising any right or remedy shall constitute a waiver thereof, and no <br /> waiver by OM or the City of the breach of any obligation under this Agreement shall be <br /> construed as a waiver of any preceding or succeeding breach of the same or any other covenant, <br /> term or condition of this Agreement. <br /> 20.12 Further Assurances <br /> If at any time either of the Parties reasonably determines that any further assignments, <br /> conveyances, assurances or instruments are reasonably necessary or desirable to carry out the <br /> provisions hereof and the transactions contemplated herein, the appropriate Party shall execute <br /> and deliver, or cause to be executed and delivered, any and all proper assignments and <br /> assurances and to do, or cause to be done, all things reasonably necessary or proper to carry out <br /> fully the provisions hereof, provided that such things shall be at no additional material cost, <br /> expense or liability(beyond that set forth in this Agreement)to such Party. <br /> 20.13 No Third Party Beneficiaries <br /> This Agreement is intended for the benefit of OM and the City, and except as otherwise <br /> provided with regard to the Surviving Obligations and with respect to the City and OM <br /> Indemnified Parties, no other person or entity shall be entitled to rely on this Agreement, receive <br /> any benefit from it or enforce any provisions of it against OM or the City. <br /> 20.14 Time <br /> The Parties agree that time is of the essence in the performance of the provisions of this <br /> Agreement. <br /> 20.15 Consent and Approval Standard <br /> During the term of this Agreement, except as may be expressly stated otherwise, OM and <br /> the City agree to act reasonably and in good faith, use commercially reasonable standards and <br /> exercise reasonable judgment with respect to all matters described in this Agreement that pertain <br /> to a required approval or consent and not to act arbitrarily or capriciously. Any dispute <br /> regarding any denied approval or consent maybe considered by the Steering Committee and shall <br /> be subject to the mediation requirement set forth in Section 19.13 above. <br /> -62- <br /> 06107-0063/LEGAL 13023969.1 <br />
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