AG 2015 11 16 - Laserfiche WebLink

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B. If for any reason Company fails to make the $53,000,000 investment set forth in Section II C then the County will have no further responsibility to make any EDI Grants to Company for investment made after the completion deadline, but agrees to complete EDI Grants pursuant to this Agreement on any investment that has been made as of the completion deadline. C. The EDI Grant for any phase will be reduced by the percentage by which Company's capital investment fell short of the target investment for that phase. D. The County is not required to make any EDI Grants to Company at any time after any public announcement by Company of its plan to cease construction at the Facility. E. If the Company ceases operations completely at the Facility, substantially curtails operations at the Facility for a period of more than one month or otherwise ceases to use the Site for the purposes contemplated herein (or some other purpose such as manufacturing or distribution), in any such case within ten years after the Opening Date, for any reason other than nonperformance by the County of its covenants under this Agreement, then, at the County's request, the Company will refund to the County a percentage of the EDI Grants previously paid to the Company, in each case depending on the year in which one of the above circumstances occurs, as determined by the following table: Table 2 Reimbursement Year Percentage 1 -4 100 5 65 6 50 7 40 8 30 9 20 10 10 F. The Company shall secure its potential repayment obligation with an irrevocable, standby letter of credit in an amount equal to the EDI Grants to be paid by County, in a form acceptable to County. G. The provisions of this Section IV survive the termination of this Agreement. IV. Indemnification and Limitations Pag@ 2 number 2 \n G -1 Page 157