Examples of City Parties in a sentence
An indemnification item was added that would have the City Parties agree to indemnify the Developer, its successors, and assigns.By consensus, the council agrees with the significant changes outlined in the development agreement with final approval to be considered at the December 8th council meeting.
The Developer and City Parties mutually agree that the Phase II Infrastructure Project and issuance of the Phase II Bonds shall only occur upon the request being made by the Developer and that the Developer is not obligated pursuant to this Agreement to commence the Phase II Infrastructure Project unless such request is submitted to the City and the Phase II Bonds are issued.
In the event (i) the costs of the Project increase due to unforeseen or unknown reasons, or on account of any Force Majeure event, or (ii) the Project is not able to begin construction in accordance with the timeline depicted in Exhibit D due to unreasonable delay on the part of the City Parties or any Force Majeure delays, then the Developer shall not be obligated to proceed with the construction and development of the Project.
In the event of any assignment by the Developer, the Developer shall provide the City Parties with notice of such assignment within seven (7) business days thereof.
The Developer and City Parties mutually agree the incentives described in this Agreement (including, but not limited to, the issuance of the Bonds) are dependent on the current and known expected costs of the Project and the parties mutually working towards meeting the dates shown in the timeline depicted in Exhibit D for the Project.