Bond Avenue Xxxxxx Public Funding Sample Clauses

Bond Avenue Xxxxxx Public Funding. Subject to the conditions of Section 6.5.3 above, pursuant to an IGA with PBOT, PDC will cause the designing of the Bond Avenue Xxxxxx Project, subject to the further precondition that ZRZ must first have filed a complete application for a Land Use Review approval with PDC for the Block 4 and Block 6 Project. Subject to the conditions of Section 6.5.3 above, PDC will cause the financing and construction of the Bond Avenue Xxxxxx Project, subject to the further precondition that ZRZ must first have achieved issuance of a Building Permit for the Block 4 Project and achieved Commencement of Construction for the Block 6 Project. The financing from PDC will consist of URA TIF. If funding from PDC is not available at the time ZRZ desires to construct the Block 4 Project, and the preconditions in the preceding sentences and the conditions of Section 6.5.3 above have been satisfied, then ZRZ may, in its sole and absolute discretion, design and construct all or a portion of the Bond Avenue Xxxxxx Project and in such event shall be reimbursed by PDC for ZRZ’s costs incurred in such design and construction, from cash or cash equivalent. PDC and ZRZ shall agree in writing to the terms and timeline for reimbursement by PDC to ZRZ in advance of any costs being incurred. PDC is not obligated to reimburse ZRZ for any costs incurred prior to both parties’ execution of a written agreement on the terms and timeline of reimbursement. If PDC and ZRZ are unable to agree to the terms and timeline of reimbursement, ZRZ shall have the right to construct the Bond Avenue Xxxxxx Project at its own cost and expense and/or may terminate this Agreement pursuant to Section 9.5.
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