The following shall constitute events of default which may be declared by the City:
a. Failure of the Approved Company to report or to pay employee withholdings as required by this Subchapter or Chapter 18, whether from new jobs or existing jobs;
b. Failure of the Approved Company to substantially satisfy the projected schedule of employee withholdings submitted with its incentive program application or as set forth in the program agreement;
c. Failure of the Approved Company to pay any tax, license fee, penalty or other charge or obligation to the City pursuant to the Code of Ordinances;
d. Failure of the Approved Company to comply with any term, condition or obligation imposed by Chapter 18 or any other City ordinances;
e. Failure of the Approved Company to comply with any term, condition or obligation of the incentive program agreement;
f. The making of any material misrepresentation of any statement or fact on the Approved Company's incentive program application or supporting documents, whether or not relied upon by the City, Committee or Program Manager;
g. The abandonment or closing of the Approved Company’s business for a period of thirty (30) days; or,
h. If applicable, the Approved Company is determined to be in default under an incentive program or agreement administered by the Kentucky Economic Development Cabinet.
(Ord. BG94-47, 12/6/94; Ord. BG2006-32, 9/19/2006; Ord. BG2011-17, 4/19/2011)