Termination Rights of Both Parties. Either Party may immediately terminate this Agreement in the event that the other Party fails to remedy a material breach of this Agreement within ___ days after written notice by the non-breaching Party of such breach; provided, however, that if the breach would affect the safety or well-being of a student or is not reasonably capable of being cured, then no such notice and opportunity to cure shall be required. In the event the TISD terminates the agreement before the agreement end date and if the OP has met performance goals, then TISD will pay a transition fee of $1,000,000 to the OP to support costs related with exiting the agreement. The TISD also agrees that the OP has the right to use the facility, on a market rate level, for the duration of the original agreement. In the event that the OP terminates the agreement early or has a material breach, then the OP agrees to pay the TISD pro-rated market rate rent for the time that the OP operated in the facility without rent.
Appears in 4 contracts
Samples: Agreement Between Texas Isd And, Agreement Between Texas Isd And, Agreement
