Examples of Obligation in a sentence
All payments are interim payments only, and subject to Final Settlement in accordance with the Cost Report Paragraph of the Contract for which CONTRACTOR shall be reimbursed for the actual cost of providing the services hereunder; provided, however, the total of such payments do not exceed the Maximum Obligation as specified in the Referenced Contract Provisions of the Contract, and provided further, CONTRACTOR’s costs are reimbursable pursuant to COUNTY, state, and federal regulations.
The Total Maximum Obligation of COUNTY for services provided in accordance with this Contract, and the separate Maximum Obligations for each period under this Contract, are as specified in the Referenced Contract Provisions of this Contract, except as allowed for in Subparagraph B.
Notwithstanding the foregoing, the City agrees that it will not unreasonably withhold approval of Developer’s request to satisfy all or part of the Affordable Housing Obligation by including Low and/or Moderate-Income Housing within the property owned by Developer or Developer’s affiliates in the areas within Otay Ranch Village 8.
Based upon the attributes of those properties of related ownership interests, such as size, density and location, the applicable Affordable Housing Obligation, difficulty in integrating Low and/or Moderate-Income Housing due to price and product disparity, developer capability, the new construction of the Low and/or Moderate- Income Housing within residential development on such properties may present a hardship and alternative methods of compliance may be required.
If Counterparty fails to pay any Guaranteed Obligations when due, Guarantor shall, as an independent obligation, promptly upon receiving written notice of such failure from Guaranteed Party, pay such Guaranteed Obligation to Guaranteed Party in accordance with the terms and provisions of the Agreement.