Common use of Project Characteristics Clause in Contracts

Project Characteristics. The Parties agree that it is their common intention that the Project will have the following characteristics: (a) The Project shall be undertaken jointly by the Parties; (b) The primary parameter for the servicing structures to be contemplated under the Project involve: (i) Development of a raw water intake and trunk main and appurtenances, including pump stations, for the transmission of raw water to the location to be agreed upon by the Parties; (ii) Upon the agreement of the foregoing, the production of a trusted water supply within existing, future upgraded water treatment facilities or new water treatment facilities located or to be located within the municipal boundaries of both Parties or either one of them; (iii) the transmission of treated water to the Parties; and (iv) the direct or indirect distribution of treated water within those areas that the Parties will so determine; or a combination of the above, based on factors such as the practicality, feasibility, relative costs and benefits, and legality of either approach; (c) The purpose of the Project shall be to provide the Parties with options and alternatives to consider in relation to the provision of Water Services to the Parties within those areas that the Parties will determine; (d) The Parties shall, to the extent possible, apply for and access grants and assistance that may be available in relation to the Project from Canada, Alberta, developers (including in the payment of off-site levies and similar funding) or from any other person or entity other than the Parties that may financially contribute to this Project; (e) The Parties intend that the Project Costs shall be funded firstly through the grants that are made available to the Parties and secondly through their own municipal financial resources. In the event that the amount of the grant funds received exceeds the amount of the required for this particular Project, the Parties shall mutually agree upon the appropriate distribution of the excess grant funds amongst each of them, considering always the terms imposed upon the payment of the grant funds by the grant funder(s). Should the Parties not agree upon the terms of the distribution of any excess grant funds, then the Conflict Resolution terms that are set forth in the terms of reference for the Intermunicipal Committee shall be utilized to resolve the issue.