Common use of BSD Financing Clause in Contracts

BSD Financing. BSD shall have provided evidence, satisfactory to the City in its discretion, that all Air Rights Infrastructure Costs shall be available for disbursement when due pursuant to the Venue Construction Contract; provided, however, that to the extent that the Air Rights Infrastructure Costs are eligible for payment by the City pursuant to the terms and conditions of the Bull Street Agreement, then in lieu of such evidence BSD shall, by document acceptable to City, irrevocably authorize City to fund the Air Rights Infrastructure Costs by disbursement pursuant to the Bull Street Agreement. Any such disbursements shall reduce the balance remaining available to BSD under the Bull Street Agreement. In the event that BSD elects not to proceed with the Air Rights Improvements, this Condition to Commencement shall be deemed satisfied.