Special Funding Conditions. The terms that are applicable as of the Effective Date are set forth on Schedule 7.5 (Funding Source Terms and Conditions). Vendor agrees to the automatic revision of any such required terms upon notice from the relevant governmental funding authority.
Special Funding Conditions. In the performance of the Agreement, including the procurement and lease of materials or goods, Vendor must abide by all applicable special funding conditions related to grants or other special funding sources referenced in this Agreement and detailed in the Contract Documents. In the performance of the Agreement, including the procurement and lease of materials or Goods, Vendor must abide by all applicable conditions referenced in this Agreement and detailed in the Contract Documents. These conditions may include, but are not limited to, Special Conditions Regarding MBE/WBE Commitment, Target Market Special Conditions or Disadvantaged Business Enterprise Special Conditions, as governed by City of Chicago Municipal Ordinance or federal law. Vendor’s completed Schedules regarding commitment to and compliance with special funding conditions are a part of the Agreement, and may be modified only with the consent of the Director of Procurement. Throughout the term of the Agreement, Vendor must meet or exceed commitments stated in such Schedules. Vendor’s failure to use good faith efforts to meet its commitments will constitute an Event of Default.
Special Funding Conditions. Without limiting the generality of Sections 7.1 and 7.2 above, the obligations of Lenders to make the initial advance under the Term Loan, whether such initial advance is made on the Closing Date or thereafter, shall be subject to the additional condition precedent that, prior to the delivery of any Notice of Borrowing in respect of such initial advance, Primary Borrower shall have completed the authorization, issuance and sale of shares of additional “Series C” capital stock of Primary Borrower pursuant to a private placement, which such “Series C” capital stock shall not be subject to any mandatory repurchase or redemption provisions or put rights in favor of any holder thereof (not including any repurchase or redemption provisions exercisable solely at the option of Primary Borrower) or otherwise constitute Debt under the definition set forth herein or be subject to any provisions requiring the mandatory payment of any dividends at any time (not including any specified dividends which accrue at specified times but which are payable only as, when and if declared by the board of directors of Primary Borrower and/or upon liquidation of Primary Borrower), and Primary Borrower shall have received net proceeds of such issuance and sale of such “Series C” capital stock in an amount of not less than $20,000,000 and have deposited such net proceeds into a Deposit Account or Securities Account subject to Deposit Account Control Agreement or Securities Account Control Agreement (as applicable) in favor of Administrative Agent.
