Funding Delay definition
Funding Delay means either (i) any failure or delay by the MMEIA to timely provide any Local Public Infrastructure Funds to MCEDA to the extent it delays or forestalls MCEDA’s ability to perform its obligations under this Agreement with respect to any MCEDA- Funded CMU Infrastructure and/or MCEDA-Funded MCWA Infrastructure, or (ii) any failure or delay by the Company to timely provide Company-Provided CMU Infrastructure Funds or Company-Provided MCWA Infrastructure Funds to MCEDA to the extent it delays or forestalls the ability of MCEDA, CMU, or MCWA to perform their respective obligations under this Agreement with respect to any Company-Funded CMU Infrastructure and/or Company-Funded MCWA Infrastructure.
Examples of Funding Delay in a sentence
Subject to any Funding Delay, ▇▇▇▇▇ will use up to One Hundred Seventy-Eight Million One Hundred Fifteen Thousand Five Hundred Eighty-Two Dollars ($178,115,582.00) (the “MCEDA-Funded Infrastructure Cost Budget”) of the Local Public Infrastructure Funds to pay all of the costs of designing, engineering, constructing, installing, and undertaking all work necessary to deliver the MCEDA-Funded CMU Infrastructure and the MCEDA-Funded MCWA Infrastructure (together, the “MCEDA-Funded Infrastructure”).