Project Site Financing Clause Samples
The Project Site Financing clause outlines the terms and conditions under which financing for the project site will be arranged and managed. It typically specifies the responsibilities of the parties regarding securing loans or other funding, details any required documentation, and may set deadlines for obtaining necessary financing. This clause ensures that there is a clear process for funding the project site, reducing the risk of delays or disputes related to financial arrangements.
Project Site Financing. The parties acknowledge that the LCIDA will issue its negotiable note in the amount of $10,000,000 to pay for acquisition of the Project Site and to fund other incentives to be provided by the County hereunder. The County agrees to timely issue its general obligation bonds, as authorized by the Enabling Legislation, to repay the LCIDA’s note and to fund the County’s other obligations hereunder.