Termination and Subsequent Legislation or Litigation. In the event of termination of the Plan of Development, including its TIF financing component, the Authority may terminate this Agreement by delivering written notice to the District. The Parties further agree that in the event legislation is adopted or a decision by a court of competent jurisdiction after the effective date of this Agreement that invalidates or materially effects any provisions hereof, the Parties will in good faith negotiate for an amendment to this Agreement that most fully implements the original intent, purpose and provisions of this Agreement, but does not impair any otherwise valid contracts in effect at such time.
Termination and Subsequent Legislation or Litigation. In the event of termination of the Plan, including its tax increment financing component, the Authority may terminate this Agreement by delivering written notice to the City. The Parties further agree that in the event legislation is adopted or a decision by a court of competent jurisdiction after the effective date of this Agreement that invalidates or materially effects any provisions hereof, the Parties will in good faith negotiate for an amendment to this Agreement that most fully implements the original intent, purpose and provisions of this Agreement, but does not impair any otherwise valid contracts in effect at such time.
Termination and Subsequent Legislation or Litigation. In the event of termination of the Plan, including its TIF financing component, the Authority may terminate this Agreement by delivering written notice to the School District. The Parties further agree that in the event legislation is adopted or a decision by a court of competent jurisdiction is rendered after the effective date of this Agreement that invalidates or materially effects any provisions or interests of the Parties hereof, including without limitation any effect upon the School District’s Total Program as defined in § 00-00-000, C.R.S. attributable to State of Colorado legislation that reduces the state’s share of Total Program with respect to urban renewal areas, plans or projects, the Parties will in good faith negotiate for an amendment to this Agreement that most fully implements the original intent, purpose and provisions of this Agreement, but does not materially impair any otherwise valid contracts in effect at such time or reduce the state’s share of the School District’s Total Program as provided herein and under current law.
Termination and Subsequent Legislation or Litigation. In the event the Bonds are not issued by July 1, 2021, the Replacement Agreement shall automatically terminate and each of the Taxing Entities shall receive all of the taxes produced by its tax levy. In the event of termination of the Revised Plan, including its TIF financing component, the Authority may terminate the Replacement Agreement by delivering written notice to the Taxing Entities. The Parties further agree that in the event legislation is adopted or a decision by a court of competent jurisdiction on or after the effective date hereof that invalidates or materially effects any provisions hereof, the Parties will in good faith negotiate for an amendment to the Replacement Agreement that most fully implements the original intent, purpose and provisions of the Replacement Agreement, but does not impair any otherwise valid contracts in effect at such time.
