Common use of Payment by Developer Clause in Contracts

Payment by Developer. Developer shall pay, upon demand by Town, the amount of any liability paid by Town. Developer shall satisfy and discharge any judgment recovered against Town or the Dedications by reason of such liability promptly after the entry thereof, unless an appeal is taken and any bonds required to stay the collection thereof are procured and filed by Developer. If a final judgement is entered against the Town or the Dedication after the appeal, Developer shall satisfy and discharge such judgement. Towns may, in its reasonable discretion, make any payment as required herein, and Developer shall promptly repay to the Town the amount of such payment with interest. The Town may draw upon the Financial Guaranty of the Developer in order to satisfy any such obligations of the Developer.

Payment by Developer. Developer shall pay, upon demand by Town, the amount of any liability paid by Town. Developer shall satisfy and discharge any judgment judgement recovered against Town or the Dedications Declarations by reason of such liability promptly after the entry thereof, unless an appeal is taken taken, and any bonds required to stay the collection thereof are procured and filed by Developer. If a final judgement is entered against the Town or the Dedication after the appeal, Developer shall satisfy and discharge such judgement. Towns may, in its reasonable discretion, make any payment as required herein, and Developer shall promptly repay to the Town the amount of such payment with interest. The Town may draw upon the Financial Guaranty of the Developer in order to satisfy any such obligations of the Developer.