PDDA definition
Examples of PDDA in a sentence
If those conditions have not been met within 90 days of signing the First Amendment, the PDDA would remain in its current form, and either party could terminate it with notice to the other parties.
As with any summary of an amendment to a lengthy and complex agreement, this Summary is not a complete description of the provisions of the First Amendment or the PDDA, and does not modify, and therefore is qualified in its entirety by reference to, the First Amendment and the PDDA itself.
Under the current PDDA, MTGA pays up to $500,000 of Town costs for attorneys, environmental consultants and other advisers from the Effective Date through the Conveyance Date.
Since the 2021 Loan will be drawn after conveyance and during the Phase B work, it is not contingent on obtaining Phase I Completion as in the current PDDA.
The 2013 Loan documents and the Jobs Creation Letter of Credit provisions in the PDDA will be amended so that the forgiveness provisions are the same as the 2021 Loan.
If this occurs, MTGA is required to take title to the Property (same as in the current PDDA).
In that event, also as currently provided in the PDDA, MTGA then has the option to either (a) fund the insufficiency to achieve Phase I Completion, or (b) take title to the Property notwithstanding that Phase I Completion has not been achieved.
Under the original PDDA, the Property was to be remediated to residential standards.
Inserts revised Proposed Consolidation Areas, Project Cost Report and a RAP Addendum to the Conceptual RAP included in the original PDDA.
Article I of the First Amendment provides that the PDDA is amended as shown in a marked version of the full PDDA attached as Annex I.