Laserfiche WebLink
� `1 � 'j , <br /> (1) All necessary and appropriate corporate action has <br /> been taken by the City have been given to authorize <br /> the execution, delivery and performance of this <br /> Agreement and the instruments delivered by the <br /> City in the performance hereof; and this Agreement <br /> and the instruments delivered by the City to ADM <br /> are valid in accordance with their terms; and <br /> (2) There is no litigation pending or threatened which <br /> affects the title of the City to any of its assets <br /> subject to the Agreement or the ability to transfer <br /> same to ADM. <br /> (i) An Environmental Disclosure Document in the form of Exhibit F <br /> hereto updated through the Closing Date. <br /> 20. Man ower. ADM agrees to offer employment to as many of the City's water <br /> production personnel displaced by this Agreement as is practicable for ADM's intended <br /> operation of the North Plant. As to the remaining such City personnel prior to Closing, ADM <br /> agrees to pay the reasonable cost of retraining and out-placement. <br /> 21. Joint Chemical Purchases. To the extent practicable, the parties agree to jointly <br /> purchase equipment and supplies, including chemicals, for the North Plant and the City's South <br /> Plant respectively, where such joint purchases may result in cost savings. <br /> 22. Outstanding Public Financing. The Closing under this Agreement is subject to <br /> the prior consent of the indenture trustees National Bank of Decatur and Texas Commerce Bank, <br /> National Association, or their successors, and of the letter of credit banks, including Sumitomo <br /> Bank, Limited, or the prior substitution of the bank letter of credit or other arrangement <br /> satisfactory to the City, respecting the outstanding bonds of the City in connection with its water <br /> -18- <br />