Common use of City Funds Clause in Contracts

City Funds. Subject to the provisions hereof, the City will advance the amount of XXXXXXXX Dollars ($XXXXX), as a grant by way of forgivable loan, from the City's Development Charges Reserve Fund for Subsidized Housing. The City Funds will be advanced upon the conditions set out in Section 4.6, either being satisfied or waived and in accordance with Article 5 and which funds are to be used solely to fund the development of the Project and to enhance the affordability of the Affordable Housing funded hereunder;

City Funds. Subject to the provisions hereof, the City will advance the amount of XXXXXXXX Dollars ($XXXXX), as a grant by way of forgivable loan, from the City's Development Charges Reserve Fund for Subsidized Housing. The City Funds will be advanced upon the conditions set out in Section 4.64.5, either being satisfied or waived and in accordance with Article 5 and which funds are to be used solely to fund the development Development Activities of the Project and to enhance the affordability of the Affordable Housing funded hereunder;