2015-03-03 Planning & Organisation Agenda

PLANNING & ORGANISATION COMMITTEE MEETING AGENDA   3 MARCH 2015




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PLANNING & ORGANISATION COMMITTEE MEETING AGENDA                                                         3 MARCH 2015

                   a)  NBFR breaches any provision of this Deed and fails to remedy the breach within 30 days, or
                       such longer period as Council stipulates, after receiving notice requiring it to do so;
                   b)  NBFR breaches a material provision of this Deed and that breach is not, in the opinion of the
                       Council, capable of remedy;
                   c)  NBFR notifies the Council that the NBFR program is not to proceed; or
                   d)  NBFR becomes insolvent, subject to administration, unable to meet its debts, or decides to
                       wind up the Company and Public Trust.

               9.2   Obligation Upon Termination
               On receipt of a notice of termination or reduction of the Funding, NBRF must:
                   a)  Stop or reduce the performance of NBFR’s obligations related to the Funding as specified in
                       the notice;
                   b) Take all available steps to minimise loss resulting from the termination or reduction;
                   c)  Continue work on any part of the NBRF programpnot affected by the notice; and
                   d)  Immediately return to Council any Funding relating to the part of the NBRF program affected
                       by the notice and that has not in the Council’s opinion:

                          iv) Been spent in accordance with the Deed},or
                          v)  Been committed by NBRPin accordance with the Deed and is payable as a current
                              liability,
                       Or otherwise deal with any Funding held by NBRF as directed by the Council.

               9.3   Council’s Liability Upon Termination forDefault
               Where Council terminates this Deed under clause 9, the Council:

                   a)  Will be liable only for payments due and owing to NBRF under the payment provisions of the
                       Deed as atthe date of the notice; and
                   b). Will be entitled to recover from NBRF:

                          i)  Any part of the Funding which has not been legally committed for expenditure by
                              NBRF in accordance with the.Deed and is not payable for NBRF as a current liability
                              by. the date of the notice of termination is received; or
                          ii) Any part of the Funding which has not, in the Council’s opinion, been spent by NBRF
                              in accordance with the Deed; and
                          iii) Where NBRF becomes liable to repay the Funds to the Council under paragraph 6.2
                              a).

               9.4   Preservation of Other Rights
               Clause 9 does not limit or exclude any of the Council’s rights under this Deed.

               10    DISPUTE RESOLUTION AND MEDIATION
               Both parties shall make genuine efforts to resolve any dispute arising out of, or in connection with
               this Deed by negotiation and discussion. If the parties are unable to resolve a dispute within 14
               days, then the dispute shall be referred to an agreed, qualified independent person to mediate

               Funding Deed — Noosa Biosphere Reserve Foundation Ltd & Noosa Council                    Page 11

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