Common use of City Financing Clause in Contracts

City Financing. If requested by WPZS, the City will consider issuing debt for capital purposes at the Zoo. Funding for debt service on such debt, other than debt issued for the Parking Garage described in Section 8, shall be the responsibility of WPZS. In the event WPZS fails to provide funds to pay debt service in a timely fashion, the City will pay such debt service from its own funds and will reduce its payments under Section 5.2 by a corresponding amount.

City Financing. If requested by WPZS, the City will consider issuing debt for capital purposes at the Zoo. Funding for debt service on such debt, other than debt issued for the Parking Garage described in Section 8, shall be the responsibility of WPZSWPZS unless otherwise agreed by the City. The decision whether to issue debt will be in the sole discretion of the City and subject to such terms and conditions as the City may require. In the event WPZS fails to provide funds to pay debt service on any such City debt in a timely fashion, the City will may in its discretion or as otherwise agreed in writing pay such debt service from its own funds and will reduce its payments under Section 5.2 by a corresponding amount.