Agenda 04/27/1999 - Laserfiche WebLink

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request for supplemental appropriation in an amount sufficient to pay when due the rental payments and other mounts due under this Lease, the Lessee may terminate this Agreement as of the end of the last fiscal year for which such funds were appropriated and shall not be obligated to pay any rental payments or other amounts following the .end of such fiscal year. Termination of this Agreement pursuant to this Section 14 as a result of non- appropriation shall not be deemed to be an Event of Default, but such termination shall entitle the Lessor to re-enter and take possession of the Equipment and. terminate this Agreement. Notice of Appropriation. The Lessee shall give notice to the Lessor by no later than June 30 of each year of the amount budgeted by the Lessee and appropriated by the City Council for all payments required to be. made by the Lessee under the Agreement in the Fiscal Year commencing on the immediately succeeding July 1 and whether such amount is sufficient to meet all such required payments during such period. 15. ASSIGNMENT Assignment By Lessee. The Lessee agrees not to sell, assign, lease, sublease, pledge or otherwise encumber or suffer a lien or encumbrance upon or against any interest in this Agreement or the Equipment (except for the lien and security interest of the Lessor therein) or to remove the Equipment from its place of installation without the Lessor's prior written consent which shall not be unreasonably withheld. The Lessee's interest herein may not be assigned or transferred by operation of law. Assignment By The Lessor. The Lessor may, at any time and from time to time, assign all or any part of its interest in the Equipment or this Agreement, including without limitation, the Lessor's rights to receive the rental payments and any additional payments due and to become due hereunder. The Lessee agrees that this Agreement may become part of a pool of agreement obligations at the Lessor's or its assignee's option. The Lessor or its assignees may assign or reassign either the entire pool or any partial interest herein. Notwithstanding the foregoing, no assignment or reassignrnent in the Equipment or this Agreement shall be effective unless and until the Lessee shall receive a duplicate original counterpart of the document by which such assignment or reassignment is made disclosing the name and address of each-such assignee. The Lessee agrees to execute any document reasonably required by the Lessor in connection with any such assignment. After the giving of notice described above to the Lessee, the Lessee shall therefore make all payments in accordance with the notice to the assignee named therein and shall, if so requested, acknowledge such assignment in writing, but such acknowledgement shall in no way be deemed necessary to make the assignrnent effective. Escrow Assigm'nent by the Lessor. The Escrow Agent may assign all or any part of its interest in the Escrow Fund established pursuant to Section 5 hereof to a successor escrow agent reasonably acceptable to both the Lessor and the Lessee. t5