Developer Funds. The Developer will submit to the Agreement Administrator in conjunction with the project manager such documentation in order to demonstrate to the CITY the Developer's financial commitment to construct the Project. The documentation shall be due as set forth in the Project Schedule. The requirement to submit the documentation may be satisfied by submittal to the CITY of a letter, on the Developer's corporate letterhead, that Developer shall finance its commitment from corporate funds. The Developer's failure to provide such documentation shall constitute an Event of Default, as hereinafter defined, upon which occurrence the provisions of Article VII shall become applicable, unless the time for such submittal is extended by the CITY.
Appears in 3 contracts
Sources: Development Agreement, Development Agreement, Development Agreement