Common use of Finance Contingency Clause in Contracts

Finance Contingency. It is acknowledged and agreed by the Parties that the continued existence of this Contract is expressly contingent upon District closing financing that will allow it to make the payments to ENGIE Services U.S. required by this Contract. District will have one hundred eighty thirty (3180) calendar days after the Contract Effective Date to close such financing. If the financing is not closed within this time, for any reason, either Party may by written notice to the other Party declare this Contract to be null and void; and the Contract will be null and void as of the other Party’s receipt of this notice; provided that District may not declare this Contract to be null and void after it has issued the Notice to Proceed. It is acknowledged and agreed that ENGIE Services U.S. will have no obligation to commence performance of the Work unless and until the financing has been closed. Notwithstanding the foregoing, ENGIE Services U.S. reserves the right to refresh the pricing for the Project thirty (30) days prior to the estimated financing close date. In the event the Contract Amount is adjusted as a result of the repricing, District may elect to terminate the Contract by providing written notice to ENGIE Services U.S. In such event, the Contract will be null and void as of ENGIE Services U.S.’s receipt of such notice.

Finance Contingency. It is acknowledged and agreed by the Parties that the continued existence of this Contract is Contract, and the District’s obligations set forth herein, are expressly contingent upon District ▇▇▇▇ ▇▇▇▇▇▇▇▇ closing financing with an investor of District’s choosing, subject to terms agreeable to District, in its sole and absolute discretion, that will allow it to make the payments to ENGIE Services U.S. required by this Contract. District will have one hundred eighty thirty (318030) calendar days after the Contract Effective Date to close such financing. If the financing is not closed within this time, for any reason, either Party may by written notice to the other Party declare this Contract to be null and void; and the Contract will be null and void as of the other Party’s receipt of this notice; provided that District may not declare this Contract to be null and void after it has issued the Notice to Proceed. It is acknowledged and agreed that ENGIE Services U.S. will have no obligation to commence performance of the Work unless and until the financing has been closed. Notwithstanding the foregoing, ENGIE Services U.S. reserves the right to refresh the pricing for the Project thirty (30) days prior to the estimated financing close date. In the event the Contract Amount is adjusted as a result of the repricing, District may elect to terminate the Contract by providing written notice to ENGIE Services U.S. In such event, the Contract will be null and void as of ENGIE Services U.S.’s receipt of such notice.thirty