CONDITIONS PRECEDENT TO PAYMENT OF GRANT Sample Clauses

CONDITIONS PRECEDENT TO PAYMENT OF GRANT. Grant payments hereunder shall be made during the first three years that Grantee is redeveloping the Property pursuant to the Redevelopment Contract. Such three year period shall begin on January 1, 2018. Quarterly Grant Payments shall begin on April 1, 2018 and continue each quarter thereafter until January 1, 2021. Quarterly Grant Payments shall be made as a reimbursement for the redevelopment costs incurred by Grantee during such three year period as shown on Exhibit A attached hereto and incorporated herein by reference. The amount of the Quarterly Grant Payments shall be as shown on Exhibit A attached hereto and incorporated herein by reference. At or before the end of each quarter Grantee shall present to City a grant payment request supported by documentation, satisfactory to the City, which establishes the amount that Grantee has invested in the redevelopment of the Property during the previous three months pursuant to the terms of the Redevelopment Contract between Grantee and City. City shall review such documentation and upon verification and approval of the same shall pay to Grantee a Quarterly Grant Payment in the amount and pursuant to the payment schedule shown on Exhibit A. Provided, however, that in the event the payment request does not establish that the Grantee has incurred the redevelopment costs as shown on Exhibit A at least equivalent to the amount of the Quarterly Grant Payment then due, the City may withhold such Quarterly Grant Payment until such time as Grantee establishes that Grantee has incurred redevelopment costs in the amounts shown on Exhibit A. Provided, further, that the City may withhold the final grant payment for each year until such time that Grantee submits a payment request, which establishes that Grantee has incurred redevelopment costs equivalent to the minimum annual investment as shown on Exhibit A.
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CONDITIONS PRECEDENT TO PAYMENT OF GRANT. (s): The Municipality shall have no obligation to pay the Grant(s) until the Recipient has:
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Related to CONDITIONS PRECEDENT TO PAYMENT OF GRANT

  • Conditions Precedent The effectiveness of this Amendment is subject to the satisfaction of all of the following conditions precedent:

  • Conditions Precedent to Disbursement Agency’s obligation to disburse Grant Funds to Grantee under this Grant is subject to satisfaction of each of the following conditions precedent:

  • Conditions Precedent to Effectiveness This Agreement shall become effective on and as of the first date (the “Effective Date”) on which the following conditions precedent have been satisfied:

  • Conditions Precedent to Closing The Local Church and Annual Conference acknowledge and agree that the obligations of the parties to effectuate the Closing on or about the Disaffiliation Date are expressly contingent and conditional on the following:

  • Further Conditions Precedent The Lenders will only be obliged to comply with Clause 5.4 (Lenders’ participation) if on the date of the Utilisation Request and on the proposed Utilisation Date:

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