Fair Share Contribution definition
Examples of Fair Share Contribution in a sentence
Each Guarantor is a third party beneficiary to the contribution agreement set forth in this Section 10.06 and a right to receive any Fair Share Contribution Amount shall be deemed an asset of the Guarantor entitled to such amount.
It shall be a condition to the City’s issuance of building permits for the Project that the Developer shall pay its Fair Share Contribution Requirement for the “Intersection and Street Improvements” as defined in and set forth on Exhibit L-2 attached hereto.
As part of the Fair Share Contribution Requirement, City and Developer shall coordinate on the timing of funding from Developer to ensure the Developer’s contribution of its proportionate share so the City has the funding available for the improvements when they are ready for construction; Developer will also fund at City’s request a City commissioned fair share allocation study to determine the appropriate fair share amounts of the projects in the Intersection Study Area.
In addition to assessing the Developer’s intersection improvement obligation, the Fair Share Contribution Requirement shall also apply to pending and future projects located in and around the Intersection Study Area that have not already obtained a vested development right, including but not limited to those related projects identified and evaluated in the 2022 SEIR for cumulative impact study purposes.
Subject to reimbursement from other projects that are also required to pay the Fair Share Contribution Requirement for the Intersection and Street Improvements, including the payment for acquisition of additional right-of-way, the Developer shall work with City and use its best efforts to ensure that as many as the above referenced Intersection and Street Improvements are funded and completed prior to issuance of any Certificate of Occupancy for the buildings within PA3(a).
Each Guarantor is a third party beneficiary to the contribution agreement set forth in this Section 13.6 and a right to receive any Fair Share Contribution Amount shall be deemed an asset of the Guarantor entitled to such amount.
Upon approval by the City of the Final PS&E, City shall calculate the Developer’s Fair Share Contribution by multiplying the Percentage of Construction by the total costs of the Construction of the Roundabouts identified in the Final PS&E.
Accordingly, Developer shall pay (a) at the Phase I Close of Escrow the sum of Two Hundred Sixteen Thousand Nine Hundred Fifty Nine ($216,959.00), comprising the agreed upon pro rata share of the Project Fair Share Contribution attributable to Phase I and (b) at the Phase II Close of Escrow, the sum Two Hundred Forty One Thousand Sixty Seven Dollars ($241,067.00) comprising the agreed upon pro rata share of the Project Fair Share Contribution attributable to Phase II.
Each Corporate Guarantor is a third party beneficiary to the contribution agreement set forth in this Section 11.06 and a right to receive any Fair Share Contribution Amount shall be deemed an asset of the Corporate Guarantor entitled to such amount.
Upon payment of the Fair Share Contribution for Off-Site Traffic Improvements, Developer shall have no further obligation to the City for the costs of design or construction of the Off-Site Traffic Improvements, regardless if such costs of construction exceed the estimate set forth on Exhibit P.