Algonquin’s Payment to the Town Sample Clauses

Algonquin’s Payment to the Town. Algonquin shall make a one-time payment to the Town of Ten Million Dollars ($10,000,000) (the “Capital Project Payment”). The Parties mutually acknowledge that such payment will be deposited in the Town’s General Fund and that its use will be subject to appropriation; provided, however, that the Parties agree that their intent is for these funds to be used for one or more capital projects determined by the Town to address a health, safety, environmental or economic priority identified by the Town, in its sole discretion. Payment of the Capital Project Payment shall be paid to the Town no later than December 1, 2020 and said payment shall not be dependent on the Compressor Station going into service or any other condition expressed or implied.
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