CALIFORNIA YELLOW CAB-2016 - Laserfiche WebLink

Home Browse Search

DO NOT RECORD Section 5.02 'termination/Events of Default (a) In the event of a monetary default by Licensee, Licensor shall provide written notice to Licensee detailing the amount owed and demanding payment, If the monetary default is not cured within fifteen (15) days of the written notice, Licensor may terminate the Agreement. (b) Licensor shall have at its sole discretion the option of terminating this Agreement if Licensee loses its license to provide taxi cab transportation services for any reason. Licensee shall notify the City immediately and in writing of its inability to obtain or maintain such permits, licenses, approvals, waivers, and exemptions. Said inability shall be cause for immediate termination of this Agreement. (c) Failure of Licensee to maintain Current insurance coverage in the amounts and pursuant to the terms contained herein shall constitute default of contract which shall be cause for immediate termination of this Agreement. (d) Failure of Licensee to maintain current OCTAP certification and required permits shall constitute default of contract which shall be cause for immediate termination of this Agreement by Licensor. ARTICLE 6 - ASSIGNMENT, ABANDONMENT, DEFAULT, INSOLVENCY Section 6.O1 Assignment Licensee may not assign this Agreement. This Agreement is personal to Licensee, and Licensee will not assign, transfer or sell this Agreement or any privilege hereunder in whole or in part, and any attempt to do so will be void and confer no right upon any third party. Section 6.02 Abandonment by Licensee Should Licensee breach this Agreement and abandon the License Area prior to the expiration of the "term or Renewal Term, Licensor may: (a) Continue this License in effect by not terminating Licensee's right to the License Area, in which event Licensor shall be entitled to enforce all of its rights and remedies under this Agreement, including the right to recover the compensation/consideration specified in this Agreement as it becomes due under this Agreement; or (b) Terminate this Agreement and recover from Licensee: