15.2-6650 - Existing contracts, leases, franchises, etc., not impaired. - Virginia Statutes

§ 15.2-6650. Existing contracts, leases, franchises, etc., not impaired.

No provisions of this act shall relieve, impair, or affect any right, duty,liability, or obligation arising out of any contract, concession, lease, orfranchise now in existence except to the extent that such contract,concession, lease, or franchise may permit. Notwithstanding the foregoingprovisions of this section, the Authority may renegotiate, renew, extend theterm of, or otherwise modify at any time any contract, concession, lease, orfranchise now in existence in such manner and on such terms and conditions asit may deem appropriate, provided that the operator of or under any saidcontract, concession, lease, or franchise consents to said renegotiation,renewal, extension, or modification.

(2005, c. 842.)