Project Commitments Sample Clauses
The Project Commitments clause defines the specific obligations and responsibilities that each party agrees to fulfill during the course of a project. This may include deliverables, timelines, resource allocation, and quality standards that must be met to ensure the project's success. For example, it might require the contractor to provide regular progress reports or the client to supply necessary information by certain deadlines. The core function of this clause is to establish clear expectations and accountability, thereby reducing misunderstandings and helping to ensure that the project proceeds smoothly and efficiently.
Project Commitments. This Agreement may not be rescinded or terminated, and Zone 7, MCWRA, and Watsonville may not withdraw from this Agreement while that Party’s contributions under this Agreement are used to fund Project Commitments, unless the PRFMA or another public agency has provided such reasonable written assurances to perform those Project Commitments as may be requested by the State, the Federal government, or other contracting parties to those Project Commitments. The PRFMA may assume Project Commitments of a Party by resolution of the PRFMA Board and in no other fashion.
Project Commitments. This Agreement may not be rescinded or terminated, the Authority dissolved, and no Member Agency may withdraw from the Authority while the Authority has outstanding legally enforceable commitments unless another public agency has provided such reasonable written assurances to perform those commitments as the State, the Federal government, tribal governments, or other contracting parties as to those commitments may request.
Project Commitments. This Award Agreement is based on Applicant’s compliance with certain continuing commitments regarding the Project, as more fully described and as contained in the Regulatory Agreements and the Application, including without limitation the following:
Project Commitments. The Company hereby agrees, warrants and commits that the Project will result in the following:
(a) a Capital Investment in the Project on the Project Site by the Company and/or any other Person, including any Landlords and/or Affiliates, from any source or combination of sources, of not less than [Five Hundred Million Dollars ($500,000,000.00)] by no later than [December 31, 2025] (the “Investment Commitment”); and
(b) the maintenance by the Company and/or one or more Affiliates thereof on the Project Site of no fewer than Four Thousand (4,000) Full-Time Jobs in the County during each year of the FIL Term (the “Jobs Maintenance Commitment”). The Parties hereby agree that such Full- Time Jobs maintained in satisfaction of the Jobs Maintenance Commitment may be direct employees of the Company and/or any Affiliate thereof provided that such Full-Time Jobs are located on the Project Site in connection with the Project. For purposes of this Agreement, the parties hereto agree that a Full-Time Job shall be deemed maintained if it is filled within ninety (90) days after having been vacated.
Project Commitments. Categorical Exclusion Approval
Project Commitments. Subject to the terms and conditions of this Agreement, each Lender severally shall make Project Advances to the Borrower on any Business Day on or prior to earlier of (A) the 60th day following the Second Completion Date and (B) the Date Certain. Any Project Advance or portion thereof which is prepaid cannot be reborrowed. At no time shall the aggregate principal amount of all outstanding Project Advances exceed the Aggregate Project Commitment. Each Lender's obligation to make Project Advances shall not in any event exceed the amount set forth next to such Lender's name as its "Project Commitment" on Schedule 1. Each Borrowing shall be in an aggregate amount not less than $1,000,000 or an integral multiple of $100,000 in excess thereof (or such lesser amount as shall be equal to the total amount of the unused Project Commitments available on such date). Each Lender's Project Commitment shall be reduced by the amount and on the date of such Lender's Project Advance. The Project Commitments shall terminate in their entirety at the earliest of (i) full utilization of the Aggregate Project Commitment and (ii) the earlier of (x) the Date Certain and (y) the 60th day following the Second Completion Date, unless earlier terminated by the Administrative Agent pursuant to Section 8.01 following the occurrence and during the continuation of a Borrower Event of Default.
Project Commitments