Voter Referendum Requirement Sample Clauses

Voter Referendum Requirement. The parties acknowledge and agree that, pursuant to Section 1.03(b)(1) of the City Code, the Marina Lease and the Purchase and Sale Agreement for the Residential Parcel, each as hereinafter defined, forms of which are attached to this Agreement, and the rights and obligations therein, are subject to and contingent upon the approval of the Marina Lease and the sale of the Residential Parcel by vote of a majority of the voters voting thereon in a City-wide referendum on November 3, 2020 (the “2020 Referendum”) or such later date in 2021 as further described in this Section (each, a “2021 Referendum” and together with the 2020 Referendum, each, a “Referendum”). In the event that the 2020 Referendum is not successful, or if the ballot question is removed or election results are invalidated by a court of competent jurisdiction, then Developer may, within 90 days after the date on which it is determined that the 2020 Referendum was not successful, request that the City Commission consider adopting a resolution calling for a special election for approval of the Agreement in a 2021 Referendum. If (a) the City Commission declines to adopt a resolution calling for approval of the Agreement in a 2021 Referendum or (b) within such ninety (90) day period, Developer either fails to so notify the City or notifies the City that it wishes to terminate this Agreement, then in any such event, this Agreement shall be deemed null and void and the parties shall have no obligations or liabilities of any kind or nature whatsoever hereunder. In the event that, following Xxxxxxxxx’s request, the City Commission adopts a resolution calling for a 2021 Referendum and the 2021 Referendum is not successful, or if the ballot question is removed or election results are invalidated by a court of competent jurisdiction, in each case following the last date on which a 2021 Referendum occurred, this Agreement shall be deemed null and void and the parties shall have no obligations or liabilities of any kind or nature whatsoever hereunder.
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