Common use of Charter School Debt Clause in Contracts

Charter School Debt. The Charter School is solely responsible for all debt it incurs, and the Chartering Authority shall not be contractually bound on Charter School’s account to any third party. The Chartering Authority shall not be liable for the Charter School’s unpaid debts if the Charter School does not have sufficient funds to pay all of its debts in the event that it ceases operations. The Charter School shall notify the Chartering Authority immediately of a default on any obligation owed to the Chartering Authority, which shall include debts for which payments are past due by sixty (60) business days or more. If debts are incurred in the provision of employee benefits pursuant to T.C.A. § 49- 13-119, the Chartering Authority may withhold the amount owed from the monthly payment until such debts are satisfied. Any other debts owed to the Chartering Authority must be satisfied prior to the release of the last annual payment.

Charter School Debt. The Charter School is solely responsible for all debt it incurs, and the Chartering Authority Authorizer shall not be contractually bound on the Charter School’s account to any third party. The Chartering Authority Authorizer shall not be liable for the Charter School’s unpaid debts if the Charter School does not have sufficient funds to pay all of its debts in the event that it ceases operations. The Charter School shall notify the Chartering Authority Authorizer immediately of a default on any obligation owed to the Chartering AuthorityAuthorizer, which shall include debts for which payments are past due by sixty (60) business days or more. If debts are incurred in the provision of employee benefits pursuant to T.C.A. § 49- 1300-11900-000, the Chartering Authority Authorizer may withhold the amount owed from the monthly payment until such debts are satisfied. Any other debts owed to the Chartering Authority Authorizer must be satisfied prior to the release of the last annual payment.

Charter School Debt. The Charter School is solely responsible for all debt it incurs, and the Chartering Authority shall not be contractually bound on the Charter School’s account to any third party. The Chartering Authority shall not be liable for the Charter School’s unpaid debts if the Charter School does not have sufficient funds to pay all of its debts in the event that it ceases operations. The Charter School shall notify the Chartering Authority immediately of a default on any obligation owed to the Chartering Authority, which shall include debts for which payments are past due by sixty (60) business days or more. If debts are incurred in the provision of employee benefits pursuant to T.C.A. § 49- 1300-11900-000, the Chartering Authority may withhold the amount owed from the monthly payment until such debts are satisfied. Any other debts owed to the Chartering Authority must be satisfied prior to the release of the last annual payment.

Charter School Debt. The Charter School is solely responsible for all debt it incurs, and the Chartering Authority shall not be contractually bound on Charter School’s account to any third party. The Chartering Authority shall not be liable for the Charter School’s unpaid debts if the Charter School does not have sufficient funds to pay all of its debts in the event that it ceases operations. The Charter School shall notify the Chartering Authority immediately of a default on any obligation owed to the Chartering Authority, which shall include debts for which payments are past due by sixty (60) business days or more. If debts are incurred in the provision of employee benefits pursuant to T.C.A. § 49- 1300-11900-000, the Chartering Authority may withhold the amount owed from the monthly payment until such debts are satisfied. Any other debts owed to the Chartering Authority must be satisfied prior to the release of the last annual payment.

Charter School Debt. The Charter School is solely responsible for all debt it incurs, and the Chartering Authority shall not be contractually bound on the Charter School’s account to any third party. The Chartering Authority shall not be liable for the Charter School’s unpaid debts if the Charter School does not have sufficient funds to pay all of its debts in the event that it ceases operations. The Charter School shall notify the Chartering Authority immediately of a default on any obligation owed to the Chartering Authority, which shall include debts for which payments are past due by sixty (60) business days or more. If debts are incurred in the provision of employee benefits pursuant to T.C.A. § 49- 1300-11900-000, the Chartering Authority may withhold the amount owed from the monthly payment until such debts are satisfied. Any other debts owed to the Chartering Authority must be satisfied prior to the release of the last annual payment.