TIF Agreement. The signed TIF Agreement.
TIF Agreement. Borrower hereby represents and warrants, to the best of Borrower’s knowledge, after due inquiry, as follows: (a) the TIF Agreement is in full force and effect and contains all of the rights, duties, interests and obligations of the parties thereto with respect to the matters contained therein; (b) intentionally omitted; (c) there exists no material breach or default of any of the obligations under the TIF Agreement by Borrower; (d) there is no outstanding financial or other material obligation currently due or past due and owing by Borrower or any prior owner of the Property pursuant to the TIF Agreement; (e) Borrower has not received any notice from the City alleging or asserting that Borrower or any other party subject to the TIF Agreement is in breach of or default under the TIF Agreement; (f) there are no facts or circumstances in existence which with the passage of time or giving of notice or both would constitute a breach of, or default under, the TIF Agreement by Borrower; and (h) no consent is required to be obtained from the City or any other Governmental Authority in order for Borrower and Guarantor to execute and deliver the Loan Documents to which each is a party and to perform their respective obligations thereunder.
TIF Agreement. (a) Borrower shall timely and diligently perform and satisfy all of its duties, responsibilities and obligations under the TIF Agreement.
TIF Agreement. Without the prior written consent of Lender, such consent not to be unreasonably withheld, Borrower shall not: (i) agree, acquiesce or consent to any amendment, restatement, modification or supplement of the TIF Agreement; or (ii) execute any amendment of or modification to the TIF Agreement or otherwise execute any other document or agreement with the City or any other Governmental Authority pursuant to which Borrower assumes any additional obligation or responsibility or potential liability with respect to the Property or the TIF Agreement or the matters contained therein. Borrower shall not take any action, or fail to take any action, in contravention of the TIF Agreement.
TIF Agreement. The Parties agree to enter into the TIF Agreement, substantially in the form approved by Ordinance No. 5337, pursuant to which the Project will be subject to the Tax Exemptions approved by the TIF Ordinances pursuant to which the City will reimburse the Company from the TIF Funds for Qualifying Costs plus interest thereon for the Designated Improvements and Public Infrastructure Improvements and the School Districts will receive the amounts set forth in the Compensation Agreement.
TIF Agreement. The Parties hereby agree that the form of TIF Agreement attached hereto as Exhibit A shall be the form of TIF Agreement to be entered into at the Closing. The Parties agree in connection with the TIF Agreement:
TIF Agreement. The TIF Agreement is in full force and effect and there is no default thereunder by Borrower, and, to the best of Bxxxxxxx’s knowledge, any other party thereto, and, to the best of Borrower’s knowledge, no event has occurred that, with the passage of time and/or the giving of notice would constitute a default thereunder. Neither the execution and delivery of the Loan Documents nor Bxxxxxxx’s performance thereunder will adversely affect Borrower’s rights under the TIF Agreement. The Loan, and the encumbrance of the Property as security for the Loan, will not cause Borrower to violate any covenants contained in the TIF Agreement.
TIF Agreement. Borrower shall (i) pay all sums required to be paid by Borrower under the TIF Agreement, (ii) diligently perform and observe all of the material terms, covenants and conditions of Borrower under the TIF Agreement, (iii) promptly deliver to Lender a copy of any written notice to Borrower of any default by Borrower under the TIF Agreement, (iv) promptly deliver to Lender a copy of any written notice from Borrower to Grove City of any default by Grove City under the TIF Agreement and (v) not, without Lenxxx’x prior written consent, modify, amend, terminate, cancel or replace the TIF Agreement to the extent the same would have a material adverse effect on Borrower or the Property.
