Extension of Repayment Term Sample Clauses

Extension of Repayment Term. As of the date of this Agreement, the City is legally permitted to incur debt within the Waterfront TIF District through December 31, 2019, and such debt must be fully paid by December 31, 2025. Owner estimates that the hard and soft costs of constructing the Public Improvements, plus the agreed-upon or appraised value of the real property interest in St. Xxxx Street and Pine Street that Developer will convey to the City (as further described in Section 4(e), shall not exceed a total cost to complete of $21,829,890.00, as outlined with more particularity on Exhibit E attached hereto and made a part hereof (the “Not to Exceed TIF Funding Amount”). As the Project moves through the design development process and more detailed construction drawings are developed, the Parties shall refine the Not to Exceed TIF Funding Amount to determine if the direct costs of the Public Improvements (and the Not to Exceed TIF Funding Amount) should be adjusted prior to finalization. The Parties acknowledge that the remaining available amortization period within the Waterfront TIF District severely limits the City’s maximum investment in the Public Improvements; however, if the expiration date for the Waterfront TIF District were extended until December 31, 2035, the City would anticipate being able to invest sufficient funds to construct and acquire the Public Improvements so long as the debt is committed prior to December 31, 2019, and the tax increment generated by the Property as improved by the Private Improvements would be sufficient to service the debt incurred. The City acknowledges that but for the City’s agreement to utilize the public financing resources available through the Waterfront TIF District, the Public Improvements would not be included as components of the Project or would have occurred in a significantly different and less desirable manner. Accordingly, in order to facilitate the Owner’s construction of the Public Improvements and the City’s payment for and acquisition of the Public Improvements, it will be necessary for the Vermont Legislature to permit the parcels that contain the Project to allow for full payment of TIF incurred debt by the end of 2035. The Parties agree to work cooperatively to facilitate adoption of a state law achieving this outcome during the 2016 legislative session ending in mid-May 2016, so as to reasonably facilitate Owner’s adherence to the Project Schedule, and they further agree that if the Vermont Legislature fails to grant ...
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Extension of Repayment Term. As of the date of this Agreement, the City is legally permitted to incur debt within the Waterfront TIF District through December 31, 2019, and such debt must be fully paid by December 31, 2025. Owner estimates that the hard and soft costs of constructing the Public Improvements, plus the agreed-upon or appraised value of the real property interest in St. Xxxx Street and Pine Street that Developer will convey to the City (as further described in Section 4(e), shall not exceed a total cost to complete of $21,829,890.00, as outlined with more particularity on Exhibit E attached hereto and made a part hereof (the “Not to Exceed TIF Funding Amount”). As the Project moves through the design development process and more detailed construction drawings are developed, the Parties shall refine the Not to Exceed TIF Funding Amount to determine if the direct costs of the Public Improvements (and the Not to Exceed TIF Funding Amount) should be adjusted prior to finalization. The Parties acknowledge that the remaining available amortization period within the Waterfront TIF District severely limits the City’s maximum investment in the Public Improvements; however, if the expiration date for the Waterfront TIF District were extended until December 31, 2035, the City would anticipate being able to invest sufficient funds to construct and acquire the Public Improvements so long as the debt is committed prior to December 31, 2019, and the tax increment generated by the Property as improved by the Private Improvements would be sufficient to service the debt incurred.
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Related to Extension of Repayment Term

  • F8 Extension of Initial Contract Period F8.1 The Authority may, by giving written notice to the Contractor, extend the Contract for a further period up to the date set out in the Form of Contract. The provisions of the Contract will apply throughout any such extended period.

  • Extension of Initial Contract Period 31.1 Subject to clause 13 (Price Adjustment on Extension of the Initial Contract Period), the Authority may, by giving written notice to the Contractor not less than three (3) Month(s) prior to the last day of the Initial Contract Period, extend the Contract for such further period as may be specified in the notice. The provisions of the Contract will apply (subject to any Variation or adjustment to the Contract Price pursuant to clause 13) throughout any such extended period.

  • Extension Term Provided Lessee is not in default in the performance of any term or condition of this Lease, Lessee shall have the option to extend this Lease for two (2) additional terms of five (5) years per term, commencing with the expiration of the first or additional term, upon the following conditions:

  • Extension No 1. Trade name or xxxx of vehicle: .........................................................................

  • Term of Contract; Contract Extension The Contract will be in effect from the Effective Date (15 December 2016) through 31 December 2018. DAS, in its sole discretion, may extend this Contract for additional terms beyond the original term, prior to Termination or expiration, one or more times for a combined total period not to exceed the complete length of the original term.

  • Extended Term Tenant shall have the option to extend the Term for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before the expiration of the Term or First Extended Term, as the case may be. In the event Tenant fails to deliver the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not to extend the Term of this Lease and thereafter, Tenant shall have no further right to extend the Term of this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicable.

  • EXTENSION OF USE COMMITMENT The Contractor agrees to honor all orders from State Agencies, political subdivisions and others authorized by law (see Section 25 Extension of Use) which are in compliance with the pricing, terms, and conditions set forth in the Contract. Any unilateral limitations/restrictions imposed by the Contractor on eligible Authorized Users will be grounds for cancellation of the Contract.

  • C4 Price adjustment on extension of the Initial Contract Period C4.1 The Contract Price shall apply for the Initial Contract Period. In the event that the Client agrees to extend the Initial Contract Period pursuant to clause F8 (Extension of Initial Contract Period) the Client shall, in the 6 month period prior to the expiry of the Initial Contract Period, enter into good faith negotiations with the Contractor (for a period of not more than 30 Working Days) to agree a variation in the Contract Price.

  • Listing Period Extension The Commission shall be due if the Property is sold, conveyed, exchanged, optioned, or otherwise transferred within _ _ days (“Extension Period”) after the expiration of the Listing Period to anyone with whom the Broker or Agency has negotiated unless the Property is listed, in good faith, with another real estate agency. The term “negotiation” shall include providing information about the Property, showing the Property, or presenting an offer on the Property. All rights under this Section shall terminate upon the expiration of the Extension Period.

  • Extension Terms County may, at its sole option, extend the term of this Agreement beyond the Initial Term for up to ___ additional one-year terms at the same rates and under the same terms provided for herein (each such period being an “Extension Term”). County shall notify Contractor of its election for an Extension Term(s) as provided for in §6.

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