Arena Group’s Funding Commitment Sample Clauses

Arena Group’s Funding Commitment. (a) Subject to the termination rights set forth in Section 6.1, the Arena Group shall provide the Arena Group Contribution which shall be deposited in the Arena Group Project Cost Account as and when needed to pay Project Costs on a pari passu basis with the Public Contribution and may provide funding and pay expenses in advance of the Public Contribution in accordance with Section 2.6(e), with all such funding to be detailed in and performed in accordance with the Funding Agreement. The Arena Group shall provide reasonably satisfactory assurances to the City and any bond insurer for the Arena Complex Bonds that the Arena Group Contribution will be available to pay Project Costs as and when needed. Notwithstanding the foregoing, if, prior to the Funding Date, the Arena Group determines that the aggregate of the Arena Group Contribution and the Available Bond Proceeds will not fully fund the Arena Project, the Arena Group shall have the right to terminate this Agreement and the Project Documents without further obligation or liability.
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Related to Arena Group’s Funding Commitment

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