Resolution 4756 - Laserfiche WebLink

Port Gardner Bay Outfall Replacement Agreement After the award of construction contract, and before Joint Use Facilities are operational, neither Participant may terminate in the absence of material breach by the other Participant. ER � • yea s'- ,� r After facilities are constructed and Ninety(90) Conveyance of such interests as are operational. days reasonably necessary for the non- terminating party to operate the Joint Use Facilities. The end of a term (Initial or Twelve (12) Conveyance of such interests as are Additional) months reasonably necessary for the non- written terminating party to operate the Joint notice Use Facilities. After a finding by the PRT that the Twelve (12) The terminating Participant shall pay end of useful life for the Joint Use months after a one time fee to the non-terminating Facilities will occur within five (5) written Participant equal to its proportionate years and that a decommissioning notice. share of reasonable and necessary program will be required by then decommissioning costs, as estimated applicable laws or regulations. by the PRT, which share shall correspond to the terminating Participant's percent interest in the Capacity of the Joint Use Facilities. 13.2 Default In the event of a default by a Participant, the non-defaulting Participant shall give written notice to the defaulting Participant, providing the non-performing Participant an opportunity to cure the default. The defaulting Participant must cure within ninety (90) days. If the default cannot be cured within ninety (90) days through no fault of the defaulting Participant, then the defaulting Participant must commence promptly and diligently prosecute such cure and take such steps as are necessary to effect a cure as soon as a possible. The period of time in which the default must be cured shall be that time 29 of 46