Inability to Issue Bonds Clause Samples

Inability to Issue Bonds. Should Village be unable to issue and sell Bonds to generate the necessary monies to deposit into the Bond Fund contemplated in this Section, the parties agree to discuss and negotiate an alternative method for reimbursement of Developer’s Eligible Costs and, if necessary, to amend this Agreement. If Village and Developer cannot reach an agreement regarding an alternative method for reimbursement, this Agreement shall be null and void. Village intends to issue and sell Bonds, if all Developer’s obligations in 5.3 are timely satisfied, within 120 days after this Agreement is executed. [Bonds already issued and in possession of Village.]