Local Community Fund Clause Samples
Local Community Fund. 6.1 ECS shall procure that monies paid to the local community fund pursuant to Clause 5(d)(ii) shall be held on trust to be used solely to facilitate further projects relating to the area(s) in which Landlord owns Installed Properties and for the benefit of the communities within those areas. ECS shall:
7.1 maintain all records relating to the calculations made under this Schedule;
7.2 provide to Landlord promptly on demand full details of and all information relating to such calculations and any other information which may be reasonably required by Landlord to satisfy itself that the provisions of this Schedule are complied with including where necessary access to such records and information as ECS may hold.
Local Community Fund. Within one year of final building permit sign off allowing occupancy of the West Campus by Owner, Owner shall contribute an additional One Hundred Thousand Dollars ($100,000) to the Local Community Fund (“LCF”) previously established and funded by Facebook; provided, however, if the LCF is depleted at the time Owner receives a building permit for the office building to be built as part of the Project, Owner will make the contribution within six months of satisfaction of the Conditions Precedent. The benefit under this Section 8 shall not be payable unless the City signs off on building permits allowing occupancy by Owner of the building to be built on the West Campus.