Common use of Reimbursement of Grants from TIF Bond Proceeds Clause in Contracts

Reimbursement of Grants from TIF Bond Proceeds. 1. In the event Redeveloper fails to substantially complete the New Building as provided in Section 304 (Commencement and Completion Deadline for New Building) above, Redeveloper agrees, subject to Section 901 (Remedies) below, to repay the City for any grant of funds from TIF Bond Proceeds to Redeveloper as provided for in this Agreement. Upon such repayment of such grant funds, this Redevelopment Agreement shall be null and void in regards to Redeveloper’s obligation to construct the New Building, subject to Section 901 (Remedies) below.

Reimbursement of Grants from TIF Bond Proceeds. 1. In the event Redeveloper fails to substantially complete the New Building as provided in Section 304 (Commencement and Completion Deadline for New Building) above, Redeveloper agrees, subject to Section 901 1201 (Remedies) below, to repay the City for any grant of funds from TIF Bond Proceeds paid to Redeveloper as provided for in this Agreement. Upon such repayment of such grant funds, this Redevelopment Agreement shall be null and void in regards to Redeveloper’s 's obligation to construct the New Building, subject to Section 901 (Remedies) below.

Reimbursement of Grants from TIF Bond Proceeds. 1. In the event Redeveloper fails to substantially complete the New Building as provided in Section 304 (Commencement and Completion Deadline for New Building) above, Redeveloper agrees, subject to Section 901 1201 (Remedies) below, to repay the City for any grant of funds from TIF Bond Proceeds and Revenue Bond Proceeds to Redeveloper as provided for in this Agreement. Upon such repayment of such grant funds, this Redevelopment Agreement shall be null and void in regards to Redeveloper’s obligation to construct the New Building, subject to Section 901 (Remedies) below.