Examples of Cash Grant in a sentence
The Developer acknowledges that the Cash Grant is being provided by the City in reliance upon the future generation of general property taxes which will generate revenues for the City, including the revenues necessary to repay the City’s debt on all amounts disbursed for or on behalf of the Developer under this Agreement.
Except for the Cash Grant, the Developer shall have no interest therein or right to receive any portion thereof.
In the event the Developer should violate any of the restrictions set forth in Section 6.3 hereof, then in such event, the Developer shall repay to the City the remaining balance due of the Cash Grant.
Until Developer has reimbursed the City for the Cash Grant in full, in the event of fire, damage, or any other casualty to any part of the Project, the Developer agrees, at its cost and expense, to rebuild, repair and replace the Project in the condition it was immediately prior to the casualty.
The payment of the Cash Grant shall credit against the first $5 million of payments owed by AAC to AFGI in the aggregate with respect to any Taxable Period under each of NOL Usage Tier A, NOL Usage Tier B and NOL Usage Tier C in clauses 3(c)(i), (ii) or (iii), provided that the sum of credits for all tiers shall not exceed $15 million.