Common use of Failure to Restore Clause in Contracts

Failure to Restore. In the event Redeveloper fails for any reason to restore the Redeveloper Improvements as provided in A and/or B above, Redeveloper shall either forgive any remaining TIF Indebtedness and interest thereon if the Redeveloper was the TIF Bond Purchaser, or pay to the City the necessary amount to retire the TIF Indebtedness in full (including interest) if the TIF Bond was purchased by Redeveloper’s lender.

Failure to Restore. In the event Redeveloper fails for any reason to restore the Redeveloper Private Improvements as provided in A and/or B above, Redeveloper shall either forgive any remaining TIF Indebtedness and interest thereon if the Redeveloper was the TIF Bond Purchaser, or pay to the City the necessary amount of to retire the TIF Indebtedness in full (including interest) if the TIF Bond was purchased by the Redeveloper’s lenderLender.

Failure to Restore. In the event Redeveloper fails for any reason to restore the Redeveloper Private Improvements as provided in A and/or B above, Redeveloper shall either forgive any remaining TIF Indebtedness and interest thereon if the Redeveloper was the TIF Bond Purchaser, Purchaser or pay to the City the necessary amount to retire the TIF Indebtedness in full (including interest) if the TIF Bond was Bonds were purchased by Redeveloper’s lender.

Failure to Restore. In the event Redeveloper fails for any reason to restore the Redeveloper Private Improvements as provided in A and/or B above, Redeveloper shall either forgive any remaining TIF Indebtedness and interest thereon if the Redeveloper was the TIF Bond Purchaser, or pay to the City the necessary amount to retire the TIF Indebtedness in full (including interest) if the TIF Bond was purchased by Redeveloper’s lender.

Failure to Restore. In the event Redeveloper fails for any reason to restore the Redeveloper Private Improvements as provided in A and/or B above, Redeveloper shall either forgive any remaining TIF Indebtedness and interest thereon if the Redeveloper was the TIF Bond Purchaser, or pay to the City the necessary amount to retire the TIF Indebtedness in full (including interest) if the TIF Bond was Bonds were purchased by Redeveloper’s lender.

Failure to Restore. In the event Redeveloper fails for any reason to restore the Redeveloper its Private Improvements as provided in A and/or B above, Redeveloper shall either forgive any remaining TIF Indebtedness and interest thereon if the Redeveloper was the TIF Bond Purchaser, or pay to the City the necessary amount to retire the TIF Indebtedness in full (including interest) if the TIF Bond was purchased by Redeveloper’s lenderLender or an Investor.

Failure to Restore. In the event Redeveloper fails for any reason to restore the Redeveloper Private Improvements as provided in A and/or B above, Redeveloper shall either forgive any remaining TIF Indebtedness and interest thereon if the Redeveloper was the TIF Bond Purchaser, Purchaser or pay to the City the necessary amount to retire the TIF Indebtedness in full (including interest) if the TIF Bond was Bonds were purchased by Redeveloper’s lender.

Failure to Restore. In the event Redeveloper fails for any reason to restore the Redeveloper Private Improvements as provided in A and/or B above, Redeveloper shall pay the City the necessary amount for the City to retire the TIF Bond A in full, including interest. In addition, Redeveloper shall either forgive any remaining TIF Indebtedness indebtedness and interest thereon on TIF Bond B if the Redeveloper was the TIF Bond B Purchaser, or pay to the City the necessary amount of to retire the TIF Indebtedness BOND B in full (including interest) if the TIF Bond B was purchased by the Redeveloper’s lenderLender.

Failure to Restore. In the event Redeveloper fails for any reason to restore the Redeveloper Improvements New Building as provided in A and/or B above, Redeveloper shall either forgive any remaining TIF Indebtedness and interest thereon if the Redeveloper was the TIF Bond Purchaser, or pay to the City the necessary amount to retire the TIF Indebtedness in full (including interest) if the TIF Bond was Bonds were purchased by Redeveloper’s lender.

Failure to Restore. In the event Redeveloper fails for any reason to restore the Redeveloper applicable Private Improvements as provided in Subsection 509. A and/or B above, Redeveloper shall either forgive any applicable remaining TIF Indebtedness and interest thereon if the Redeveloper was the TIF Bond Purchaser, or pay to the City the necessary amount to retire the applicable TIF Indebtedness in full (including interest) if the TIF Bond was purchased by Redeveloper’s lenderlender or an Investor.