Funding of the Project. The Agency has agreed by resolution to approve the Project and to fund all costs for the design, installation, and maintenance of the Project, and such resolution is attached and incorporated in this Agreement as Exhibit “D”. The Department shall not be responsible for any costs associated with the Project. All improvements funded, constructed, and installed by the Agency shall remain the Agency’s property. However, this permissive use of the Department’s right-of-way where the Project is located does not vest any property right, title, or interest in or to the Agency for the Department’s right-of-way.
Funding of the Project. Until Donor has received adequate funding for the Project detailed on Exhibit B, no work shall commence on the Project.
Funding of the Project. (a) The Project shall be funded solely with the proceeds of the Loan (excluding the first $13.2 million previously paid by the Company for the Project), and the proceeds of the Loan shall be used solely to fund the Project, including changes in working capital related to the Project and interest on the Loan. Marathon and the Company shall not amend, modify or supplement the Loan Agreement without prior approval of the Board of Managers in accordance with the Super Majority Decision voting procedures contained in Section 8.07(b) of the MAP LLC Agreement. The Company shall not reduce the Commitment (as defined in the Loan Agreement) or waive any rights under the Loan Agreement without prior approval of the Board of Managers in accordance with the Super Majority Decision voting procedures contained in Section 8.07(b) of the MAP LLC Agreement. In the event that the Commitment is not sufficient to fully fund the Project, Marathon and the Company shall amend the Loan Agreement to increase the Commitment to an amount sufficient to complete the Project.
Funding of the Project. As consideration for this Agreement, PARTY1 agrees to provide all necessary funding for the purchase and future development of the Property.
Funding of the Project. As consideration for this Agreement, PARTY1 agrees to assist both parties by obtaining the property under fair market value. It is estimated that the current fair market value of the Property is $Xxxxxx,xxx. The parties shall obtain the Property for $Xxxx,xxx. Thus PARTY1’s contribution to the Joint Venture is $Xxxx,xxx. PARTY2 shall provide the cash purchase price of $Xxxx,xxx in order to close on the purchase of the Property. Hence the initial percentages of the partners set forth in Section X above are based on their respective initial investment.
Funding of the Project. In accordance with Section 1.8 of this Agreement, the CITY shall pay INDOT for the cost of constructing the 000xx Xxxxxx Bridge in the amount of $4,264,000.00. To assist the CITY in funding the construction of the 156th Street Bridge, INDOT has invited the CITY to apply for a loan in the amount of $4,264,000.00 from the State Infrastructure Bank (“SIB”). Westfield understands that it must meet all statutory requirements for an SIB loan under IC 4-10-19, and must execute a separate Loan Agreement (a draft of which is attached as Exhibit K and herein incorporated by reference) in order to secure an SIB loan for the 000xx Xxxxxx Bridge. In the event that Westfield fails to meet the statutory prerequisites or otherwise declines to enter into an SIB Loan Agreement that complies with all requirements of IC 4-10-19, Westfield understands and agrees that it shall be solely responsible to provide other funding to INDOT to finance construction of the 000xx Xxxxxx Xxxxxx. If Westfield fails to secure funding by either obtaining an SIB Loan or providing other funds to INDOT sufficient to cover all costs of constructing the 000xx Xxxxxx Bridge no later than 5:00 PM on November 15, 2012, INDOT may: (1) eliminate the 000xx Xxxxxx Xxxxxx from its U.S. 31 Project contracts and construct the U.S. 31 Project as originally planned (bisecting 156th Street), and shall have no further responsibility under this Agreement; or (2) proceed with construction of the Project as planned, but act in accordance with Section 2.16 of this agreement to recover all costs of constructing the 000xx Xxxxxx Xxxxxx.
Funding of the Project. Section 1. <ABBREVIATION OF FUNDING AGENCY> and <RDI>shall pay for the costs and expenses as indicated in the Line Item Budget attached as Annex “B.”
Funding of the Project. Conditions of funding will be recorded in the addendum of particular clauses in case they are needed to be reflected.
Funding of the Project. Donor will make payments to Contractor as provided in Section 3.7. of this Agreement in support of the Project. Until Donor has received adequate funding for the Project detailed on Exhibit B, Contractor shall not commence work on the Project.
Funding of the Project. Notwithstanding any provision in this Agreement to the contrary, the following provisions will apply to all payments made under this Agreement:
