Common use of Cross-Default Provision Clause in Contracts

Cross-Default Provision. This award was based on the total points awarded the Recipient’s Application, during a highly competitive process, That Application proposed an integrated combination of some or all of the following Project components: Affordable Housing Development (AHD); Housing-Related Infrastructure (HRI); Sustainable Transportation Infrastructure (STI); Transportation-Related Amenities (TRA); and Programs (PGM). The Application’s point score was based, in part, on the Project’s total projected reduction of greenhouse gas (GHG) emissions. The Project components (AHD, HRI, STI, TRA, and PGM) that were proposed in the Application and approved by the Department must be completed in order to achieve this projected reduction of GHG emissions. By executing this Standard Agreement, the Recipient acknowledges and agrees that in the event the AHD component is not timely completed pursuant to Program requirements that the Recipient will no longer qualify for the AHSC Grant award. In that event, all disbursements of AHSC Grant funds would cease and the Recipients would be responsible for repayment of all disbursed AHSC Grant funds.