Conditions Applicable to Mitigation Partners Sample Clauses

Conditions Applicable to Mitigation Partners. The Commonwealth’s goal is for the Forest Mitigation Partners and the Water Quality Mitigation Partners to receive, obligate and expend the mitigation funds paid by MVP under this Agreement in a manner that furthers the goals and objectives of this Agreement. As further assurance to the Commonwealth that the Forest Mitigation Partners or Water Quality Mitigation Partners will fully cooperate with the Commonwealth in the performance of its mitigation efforts, and as assurance to MVP of its right to the return of the Mitigation Amount under the limited circumstances set forth in this Paragraph 4 of this Agreement, each such partner entity shall be required to execute a binding and enforceable Mitigation Partner Memorandum of Agreement substantially in the form shown in Attachment C hereto prior to its receipt of mitigation funds hereunder. If any such partner entity were to refuse to execute such agreement in a timely manner, the Commonwealth may elect to seek a modification, including a substitute mitigation partner, pursuant to this Paragraph 4. MVP shall have no responsibility of any kind for the failure of any partner entity to execute such agreement in a timely manner, to accept funds that MVP is ready and willing to transfer pursuant to this Agreement, to comply with this Agreement, or to meet the expectations of the Commonwealth, nor shall any such failure by a mitigation partner in any way delay, impair or prevent MVP from proceeding with the Project.
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Related to Conditions Applicable to Mitigation Partners

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