Common use of Conditions to Developer’s Obligations Clause in Contracts

Conditions to Developer’s Obligations. The Developer shall work expeditiously and with all speed to satisfy all such conditions as soon as reasonably possible upon the execution of this Agreement, subject to delays resulting from events of Force Majeure. Notwithstanding the foregoing, performance by the Developer of the Developer Obligations is subject to the timely and complete satisfaction of each of the following conditions, unless waived in writing by the Developer. A. Developer shall have acquired or determined in its reasonable discretion that it can acquire the Site. B. The Developer shall have obtained or determined in its reasonable discretion that it can obtain all Required Permits, approvals, and other authorizations including, but not limited to those items described in Section 4.3 hereof, for the construction of the Project upon the Site; C. The Developer shall have determined in its reasonable discretion that the Site includes all utilities sufficient for the Project; and D. The Developer shall have determined in its sole discretion that the Project is economically feasible. The Developer shall have obtained, and shall have provided evidence reasonably acceptable to the City that it has obtained, all necessary private financing for the development and construction of the Project upon terms acceptable to the Developer in its sole discretion. The City Bodies acknowledge and agree that as part of such financing of the Project, the Developer’s lender may require the City Bodies to execute and deliver other agreements that are commercially reasonable, but are not otherwise contemplated by this Agreement. The City Bodies each hereby agree to employ their best efforts to execute such agreements provided they are commercially reasonable and acceptable to City.

Conditions to Developer’s Obligations. The Developer shall work expeditiously and with all speed to satisfy all such conditions as soon as reasonably possible upon the execution of this Agreement, subject to delays resulting from events of Force Majeure. Notwithstanding the foregoing, performance by the Developer of the Developer Obligations is subject to the timely and complete satisfaction of each of the following conditions, unless waived in writing by the Developer. A. Developer shall have acquired or determined in its reasonable discretion that it can acquire the Site. B. The Developer shall have obtained or determined in its reasonable discretion that it can obtain all Required Permits, approvals, and other authorizations including, but not limited to those items described in Section Sections 4.3 and 4.4 hereof, for the construction of the Project upon the Fishers Site; C. B. The Developer shall have determined in its reasonable discretion that the Fishers Site includes all utilities sufficient for the Project; and D. C. The Developer shall have determined in its sole discretion that the Project is economically feasible. The Developer shall have obtained, and shall have provided evidence reasonably acceptable to the City that it has obtained, all necessary private financing for the development and construction of the Project upon terms acceptable to the Developer in its sole discretion. The City Bodies acknowledge and agree that as part of such financing of the Project, the Developer’s lender may require the City Bodies to execute and deliver other agreements that are commercially reasonable, but are not otherwise contemplated by this Agreement. The City Bodies each hereby agree to employ their best efforts to execute such agreements provided they are commercially reasonable and acceptable to Cityreasonable.