Common use of Time of Repayment Clause in Contracts

Time of Repayment. In the event that the City requires repayment of the tax abatement benefits as provided hereunder, it shall provide Applicant with a written statement calculating the amount due (“Statement”), and the Applicant shall make such repayment to the City within thirty (30) days of the date of delivery of the Statement, unless such repayment has been stayed pending an appeal. If the Applicant does not make timely repayment, the City shall be entitled to all reasonable costs and attorneys fees incurred in the enforcement and collection of the tax abatement savings required to be repaid hereunder.

Time of Repayment. In the event that the City requires repayment of the tax abatement benefits as provided hereunder, it shall provide Applicant Company with a written statement calculating the amount due (“"Statement”"), and the Applicant Company shall make such repayment to the City within thirty (30) days of the date of delivery of the Statement, unless such repayment has been stayed pending an appeal. If the Applicant Company does not make timely repayment, the City shall be entitled to all reasonable costs and attorneys attorney’s fees incurred in the enforcement and collection of the tax abatement savings required to be repaid hereunder.