Common use of Project Completion Date Clause in Contracts

Project Completion Date. It is agreed between the Parties that the Project Completion Date is <END DATE, YEAR>. If the Project is not completed by such date then, subject to an amendment agreed to between the Parties, Alberta Innovates may elect to terminate this Investment Agreement. In such event, Alberta Innovates will notify the Applicant and the Service Provider of its decision to terminate as soon as reasonably practical and shall advise the Applicant and the Service Provider of the effective date of termination. Alberta Innovates will have no liability or obligation to reimburse the Applicant or the Service Provider for any Project Costs incurred after the effective date of termination and may require the Applicant and/or the Service Provider to return any portions of the Investment which were spent on Ineligible Expenses. Additionally, any portion of the Investment not used and accounted for in accordance with this Agreement as of the Project Completion Date or earlier termination is repayable by the Applicant to AI at AI’s request.

Project Completion Date. It is agreed between the Parties that the Project Completion Date is <END DATE, YEAR>. If the Project is not completed by such date then, subject to an amendment agreed to between the Parties, Alberta Innovates may elect to terminate this Investment Agreement. In such event, Alberta Innovates will notify the Applicant and the Service Provider of its decision to terminate as soon as reasonably practical practical, and shall advise the Applicant and the Service Provider of the effective date of termination. Alberta Innovates will have no liability or obligation to reimburse the Applicant or the Service Provider for any Project Costs incurred after the effective date of termination termination, and may require the Applicant and/or the Service Provider to return any portions of the Investment which were spent on Ineligible Expenses. Additionally, any portion of the Investment not used and accounted for in accordance with this Agreement as of the Project Completion Date or earlier termination is repayable by the Applicant to AI at AI’s request.

Project Completion Date. It is agreed between the Parties that the Project Completion Date is <END DATE, YEAR>. If the Project is not completed by such date then, subject to an amendment agreed to between the Parties, Alberta Innovates may elect to terminate this Investment Agreement. In such event, Alberta Innovates will notify the Applicant and the Service Provider of its decision to terminate as soon as reasonably practical and shall advise the Applicant and the Service Provider of the effective date of termination. Alberta Innovates will have no liability or obligation to reimburse the Applicant or the Service Provider for any Project Costs incurred after the effective date of termination termination, and may require the Applicant and/or the Service Provider to return any portions of the Investment which were spent on Ineligible Expenses. Additionally, any portion of the Investment not used and accounted for in accordance with this Agreement as of the Project Completion Date or earlier termination is repayable by the Applicant to AI at AI’s request.