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2000-266H
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2000-266H
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Last modified
7/18/2024 3:41:42 PM
Creation date
7/18/2024 3:15:25 PM
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Template:
Official Documents
Official Document Type
Agreement
Approved Date
09/07/2000
Control Number
2000-266H
Agenda Item Number
10.B.7.
Entity Name
Los Angeles Dodgers, Inc.
Subject
Application for Certification of retained Spring Training Franchise to
Florida Office of Tourism, Trade & Economic Development
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(c) in the event any provision of this Capital Reserve Account Agreement shall be held <br />invalid or unenforceable by any court of competent jurisdiction, such holding shall not invalidate or <br />render unenforceable any other provisions hereof. <br />(d) This Capital Reserve Account Agreement shall inure to the benefit of and shall be <br />binding upon the parties hereto and their respective successors and assigns. <br />s <br />(e) This Capital Reserve Account Agreement may be executed in several counterparts, <br />each of which shall be an original and all of which shall constitute one and the same instrument (a <br />party may execute a copy of this Agreement and deliver it by facsimile transmission, provided <br />however, that any such party shall promptly deliver an original signed copy of this Agreement). <br />All notices to be given under this Capital Reserve Account Agreement shall be made <br />in writing and shall be deemed delivered when delivered by hand or by overnight courier delivery <br />service, to the other party at its address set forth opposite its signature below or at such address as <br />the party may provide in writing from time to time. <br />9, The Capital Reserve Account Agent may resign and be discharged of its duties <br />hereunder by executing an 'instrument in writing specifying the date when such resignation shall take <br />effect, and filing the same with the County and the Dodgers not less than thirty (30) days before the <br />date when such resignation shall take effect; provided, that such resignation shall not be effective <br />unless a new capital reserve account agent shall have accepted appointment hereunder. <br />10. The Capital Reserve Account Agent may be removed by agreement of the County <br />and the Dodgers at any time by an instrument in writing, filed with the Capital Reserve Account <br />Agent not less than thirty (30) days before the date when such removal shall take effect. No removal <br />of the Capital Reserve Account Agent shall be effective until a successor has been appointed and <br />agreed to serve hereunder. <br />11. Following the resignation or removal of the Capital Reserve Account Agent, a <br />successor escrow agent, acceptable to the Dodgers, shall be appointed by the County. Any such <br />successor escrow agent shall be a national banking association or other banking institution with trust <br />{ powers qualified to act as the capital reserve account agent hereunder under the laws of the State of <br />Florida and shall affinnatively agree to hold the Capital Reserve Account in accordance with the <br />terms hereof <br />l <br />12. This Capital Reserve Account Agreement shall terminate upon disbursement of all <br />funds in the Capital Reserve Account in accordance with Section 3 hereof. <br />I 13. Capital Reserve Account Agent shall not be required to recognize any other <br />reemcnt between the other parties hereto even though reference thereto may be made herein or <br />cc -pies or provisions thereof may be annexed as exhibits hereto and whether or not it may have <br />knowledge thereof; it being the intent of the parties hereto that Capital Reserve Account Agent's <br />A <br />
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