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AG 2002 08 19 (Regular)
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AG 2002 08 19 (Regular)
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Last modified
3/2/2006 5:01:40 PM
Creation date
11/27/2017 11:43:52 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
8/19/2002
Board
Board of Commissioners
Meeting Type
Regular
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third parties, or which are not under or are caused by events or causes beyond the control of <br />Ticketmaster. PRINCIPAL HEREBY ACKNOWLEDGES THAT ALL IMPLIED <br />WARRANTIES EXISTING BY OPERATION OF LAW, INCLUDING SPECIFICALLY ANY <br />IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR <br />PURPOSE, ARE EXPRESSLY DISCLAIMED AND NEGATED BY THE EXPRESS <br />WARRANTIES PROVIDED HEREIN. <br /> <br />(c) Principal represents, warrants and covenants to Ticketmaster that: <br /> <br /> (i) Principal is the sole and exclusive owner of the Facility and has the <br />sole and exclusive right and authority to enter into this Agreement and to schedule and present <br />the Attractions at the Facility; and <br /> <br /> (ii) No agreement or understanding between Principal and any third <br />party (including, without limitation, the promoter or sponsor of any Attraction or the act or event <br />itself) with respect to rights to sell Tickets contains or shall contain any provision inconsistent <br />with any provision, or the purpose or intent, of this Agreement. <br /> <br /> (d) The representations and warranties contained in this Section shall be <br />deemed "material" as such term is used in Section 18, for all purposes related to this Agreement. <br /> <br />18. Event of Default. <br /> <br /> (a)' The occurrence of any of the following events, continued for thirty (30) <br />days after receipt by the defaulting party of written notice thereof and the defaulting party's <br />failure to cure the same shall, at the non-defaulting party's option, constitute an "Event of <br />Default" hereunder: <br /> <br /> (i) the nonpayment by either party of any sums required to be paid or <br />remitted to the other party hereunder; <br /> <br /> (ii) the default by either party under any material term, covenant or <br />condition of this Agreement, or the breach by either party of any material representation or <br />warranty contained herein; <br /> <br /> (iii) any affirmative act of insolvency by either party, whether voluntary <br />or involuntary, or the filing by either party, or any third person against either party, of any <br />petition or action under any bankruptcy, reorganization, insolvency or moratorium law or any <br />other law or laws for the relief of, or relating to, debtors; provided, however, that no such act <br />shall constitute an Event of Default unless and until such party shall be unable to meet its <br />obligations to the other party under the terms of this Agreement; and provided that the parties <br />agree that this Agreement constitutes a financial accommodation by Ticketmaster to Principal as <br />such term is utilized in 11 U.S.C. § 365; and <br /> <br /> (iv) the exposure of a substantial part of either party's property or of the <br />Hardware to any levy, seizure, assignment or sale for, or by, a creditor or governmental agency. <br /> <br /> 14 <br />C:\WINDOW$~l)esktop\Cabarms Arena LUA Final 081702.doc <br /> <br /> <br />
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