Common use of Immediate Notice Clause in Contracts

Immediate Notice. The School shall immediately notify the District of any of the following: a) Conditions that may cause it to vary from the terms of this Contract, applicable District requirements, or applicable local, state or federal law; b) Any circumstance requiring the unplanned closure of the School, including, but not limited to, a natural disaster, such as an earthquake, storm, flood or other weather related event, other extraordinary emergency, or destruction of or damage to the School facility or facilities; c) Any circumstances requiring lockdown or other emergency procedures due to immediate school health or safety concerns including health and safety concerns requiring material changes to the school program and/or operations; d) The arrest, dismissal or resignation of any members of the Charter Board, School employees, or EMP employees, for a crime punishable as a felony, any crime related to the misappropriation of funds or theft, or any misdemeanor criminal offenses involving children. Additionally, the School shall follow all reporting regulations as required in C.R.S. §22‐30.5‐110.7(a) & (b) and other relevant laws; e) Misappropriation of funds; f) A default on any obligation, which shall include debts for which payments are past due by sixty (60) days or more; or g) A failure to maintain its corporate status with the Colorado Secretary of State’s Office that is not cured within sixty (60) days of notice of the same or to maintain its corporate status as a 501(c)(3) tax‐exempt organization with the U.S. Internal Revenue Service.