City Contribution Commitment Sample Clauses
City Contribution Commitment. The City shall use its reasonable and best efforts to obtain funds from the issuance, sale, and delivery of one or more series of Henderson Event Center Bonds in an amount that is net after providing for the payment of issuance costs, the creation of reserves, and the deposit of capitalized interest, and upon terms and conditions that conform to Applicable Law, and that are satisfactory to the City, and, when combined with the RDA Funds, total the full amount of the Public Contribution. Approval of the Henderson Event Center Bonds and the RDA Funds by the City Council, and successful placement of the Henderson Event Center Bonds are conditions precedent to the effectiveness of this Agreement.
City Contribution Commitment. The City agrees to contribute to the County an amount equal to the lesser of: (i) twenty percent (20%) of the Total Project Cost and (ii) Thirty Million Dollars (U.S. $30,000,000.00) (such amount, the “City Contribution Commitment”). Notwithstanding provisions in the MOU which contemplated the possibility of the City issuing debt to pay all or a portion of the City Contribution Commitment, the City shall pay the City Contribution Commitment over time, as set forth below, and the City will not issue any debt to pay any portion of the City Contribution Commitment.