Monetary Commitments Clause Samples

Monetary Commitments. The Tribe agrees to provide the County with the total sum of $2.4 million to support construction of the Project in accordance with the plans and specifications approved by the Board of Supervisors on September 26, 2017 (subject to minor modifications and change orders duly approved by County during Project construction). This funding includes two components: (a) a $1.5 million contribution provided by the Tribe independent of any obligations or commitments set forth in the ▇▇▇▇ ▇▇▇; and (b) a $900,000 contribution provided by the Tribe in early satisfaction of its commitment under Section 1.c of the 2017 IGA to provide at least 300,000 annually following the commencement of Hotel Expansion Project (as defined therein) operations to community projects, initiatives, and services in the Capay Valley. The $900,000 contribution shall offset and fully satisfy the Tribe’s annual funding commitment under Section 1.c of the 2017 IGA until such time as said total amount would have been otherwise committed by Tribe in accordance with the terms thereof. The Tribe agrees to provide the total sum of $2.4 million to the County within 45 days after receiving a written invoice for the full amount following the commencement of Project construction. The Parties agree that this Agreement is a funding mechanism only, and further believe and agree that one of the activities contemplated by the Projects are a “project” within the meaning of the California Environmental Quality Act (“CEQA”). However, the Parties further agree that any activity essential to the Project and requiring compliance with any applicable state law (including but not limited to “CEQA”) will be satisfied before the Project may proceed.