Acquisition by Construction and Purchase of Project. (a) The Company hereby agrees to expend upon the Cost of the Project the sum of not less than Three Million, Eight Hundred Thousand and No/100ths Dollars ($3,800,000.00) of otherwise taxable investment prior to the Threshold Date. The Company shall use its best efforts to cause such acquisition as promptly as is, in the Company’s sole judgment, practicable.
Acquisition by Construction and Purchase of Project. (a) The Company hereby agrees to expend upon the Cost of the Project an expected Thirty Seven Million Dollars ($37,000,000) (and has already invested, in the Project, more than the Fifteen Million Dollars ($15,000,000 minimum investment originally agreed upon)) during the Extended Investment Period. The Company shall use its best efforts to cause such acquisition as promptly as is, in the Company’s sole judgment, practicable.
Acquisition by Construction and Purchase of Project. The Tenant hereby agrees to acquire the Project by constructing and purchasing the Project in accordance with the Plans and Specifications and to convey to the County on or before December 31 of each calendar year through the Completion Date title to the Financed Increment placed in service during such calendar year upon payment from the proceeds of the Bonds, of Costs of the Project as provided in Sections 4.02 and 4.03 of an amount sufficient in each case to reimburse the Tenant for Cost of such Financed Increment. Such conveyance shall be made in the manner set forth in the Escrow Agreement. The Tenant further agrees to use its best efforts to cause such acquisition as promptly as practicable and to expend upon the acquisition and expansion of the Project not less than $5,000,000 by the Threshold Date. The Tenant reasonably expects to invest in excess of $40,000,000 in the Project prior to the Completion Date. Title to the Project shall be and remain in the name of the County throughout the Term of this Lease, subject to the Tenant's rights hereunder to purchase the Project, or portions thereof.
Acquisition by Construction and Purchase of Project. The Tenant hereby agrees to acquire in the name of the County by construction and purchase, or convey to the County after acquisition by Tenant, the Project, to the extent comprising the Leased Improvements, in accordance with the Plans and Specifications, and all other things deemed necessary by the Tenant in connection with the Project. The Tenant agrees to maintain such records in connection with the acquisition by construction and purchase of the Project as to permit ready identification thereof. The Tenant further agrees (a) to use its best efforts to cause such acquisition as promptly as practicable and (b) to expend upon the acquisition of the Project not less than $19,000,000 prior to seven years following the end of the property tax year in which this Agreement is executed. The Tenant agrees to convey to the County, from time to time and in any event prior to the end of each calendar year, by xxxx of sale or other instrument of conveyance reasonably satisfactory to the County, all property comprising the Project which is placed in service during the year by the Tenant. Title to the Project shall thereafter be and remain in the name of the County throughout the Term of this Lease.
Acquisition by Construction and Purchase of Project. (a) The Company hereby agrees to expend upon the Cost of the Project the sum of not less than Twelve Million and No/100ths Dollars ($12,000,000.00) of otherwise taxable investment and, in connection therewith, to create at least Fifty (50) new, full-time equivalent jobs, with benefits, in the County, all prior to the Threshold Date. The Company shall use its best efforts to cause such acquisition as promptly as is, in the Company’s sole judgment, practicable.
