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AG 2015 03 16
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AG 2015 03 16
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3/17/2015 10:55:01 AM
Creation date
11/27/2017 10:37:15 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
3/16/2015
Board
Board of Commissioners
Meeting Type
Regular
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9. Ownership of Assets. <br />9.1 Ownership <br />The ownership of buildings and real estate, technical and office equipment and <br />facilities, furniture, displays, fixtures, vehicles and similar tangible property located at the Facili- <br />ty shall remain with the County. Ownership of and title to all intellectual property rights of <br />whatsoever value, related to the Facility in any way shall remain the sole property of the County, <br />with the exception of any proprietary software developed by SMG prior to the date of this <br />Agreement. The ownership of consumable assets (such as office supplies and cleaning mate- <br />rials) purchased with Operating Revenues or County funds shall remain with the County, but <br />such assets may be utilized and consumed by SMG in the performance of services under this <br />Agreement. The ownership of data processing programs and software owned by the County <br />shall remain with the County, and the ownership of data processing programs and Software <br />owned by SMG shall remain with SMG. SMG shall not take or use, for its own purposes, or for <br />those of third parties, customer or exhibitor lists or similar materials developed by the County for <br />the use of the Facility, unless written consent is granted by the County. Ownership of equip- <br />ment, furnishings, materials, or fixtures not considered to be real property and other personal <br />property purchased by SMG with County funds for use at and for the Facility shall vest in the <br />County automatically and immediately upon purchase or acquisition. The assets of the County <br />as described herein shall not be pledged, liened, encumbered or otherwise alienated or assigned <br />other than in the ordinary course of business of the Facility without the prior approval of the <br />County. <br />9.2 County Obligations <br />Except as herein otherwise set forth, throughout the term of this Agreement, the <br />County will maintain full beneficial use and ownership of the Facility and will pay, keep, ob- <br />serve and perform all payments, terms, covenants, conditions and obligations under any bonds, <br />debentures or other security agreements or contracts relating to the Facility to which the County <br />may be bound, and SMG shall reasonably cooperate with the County in this regard. <br />10. Assignment; Affiliates. <br />10.1 Assi ng ment <br />Neither this Agreement nor any of the rights or obligations hereunder may be as- <br />signed by either party hereto without the prior written consent of the other party hereto, which <br />consent shall not be unreasonably withheld, conditioned or delayed. The parties acknowledge <br />that the foregoing does not preclude the assignment by SMG of its rights to receive its manage- <br />ment and incentive fees hereunder to its lender(s) as collateral security for SMG's obligations <br />under any credit facilities provided to it by such lender(s), provided that such collateral assign- <br />ment shall not in any event cover SMG's rights to manage, promote or operate the Facility he- <br />reunder. <br />pdfconvert. 9450.1. cabarms_agreement_2015. doc <br />25 <br />F -1 <br />Attachment number 1 <br />Page 105 <br />
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