Incentive Contingencies Clause Samples

Incentive Contingencies. The obligations of the City to provide Incentives for a Block are contingent upon the satisfaction of all of the following contingencies with respect to that Block (collectively, the “Incentive Contingencies”). Each of the agreements, evidence or other document required to be submitted to satisfy an Incentive Contingency must be in form and substance acceptable to City in order for the Incentive Contingency to be satisfied. The Parties will proceed diligently and in good faith to pursue the satisfaction of the Incentive Contingencies in a timely and coordinated manner intended to result in the timely development of each Block in accordance with the Conceptual Development Plan and final development plan approvals. The Parties will coordinate their efforts to pursue the satisfaction of the Incentive Contingencies in a logical order intended to result in the satisfaction of all of the Incentive Contingencies as soon as practical. From time to time, at the request of the Developer, the City shall confirm the satisfaction, waiver or failure of any of the Incentive Contingencies which have been satisfied, waived or have not been met.