Developer Financing Sample Clauses
The Developer Financing clause outlines the terms under which a developer provides or arranges financing for a project or property. Typically, this clause specifies the amount, interest rate, repayment schedule, and any security interests or collateral involved. For example, it may allow the buyer to pay a portion of the purchase price over time directly to the developer, rather than securing a traditional bank loan. The core function of this clause is to facilitate the transaction by offering flexible payment options, making it easier for buyers to acquire property or services when conventional financing is unavailable or impractical.
POPULAR SAMPLE Copied 2 times
Developer Financing. In accordance with the Schedule of Performance and the Financing Plan, the Developer shall apply for the LIHTC Reservation (on or before the deadlines set forth in the Schedule of Performance for the Option Period then in effect) and any additional funds to obtain the Developer Financing in an amount to Complete Construction of the Improvements. The terms of the Developer Financing must be adequate to construct the Improvements in accordance with this Agreement and shall be submitted to the Authority for approval in accordance with the Schedule of Performance, provided, however, that the Authority’s approval shall not be unreasonably conditioned, withheld or denied if the amounts and conditions of the various debt and equity financing commitments are sufficient to complete the Improvements within the applicable timeframes set forth in the Schedule of Performance. Subject to obtaining the Developer Financing, the Developer has the financial and legal ability and can bear the economic risk of financing and achieving Completion of Construction of the Improvements.
Developer Financing. The City shall have the right to review the material terms of any construction or permanent financing obtained by Developer. The City’s review of financing shall be limited to confirming that: (i) such financing is adequate to complete the Project, (ii) the terms of the financing are commercially reasonable, and (iii) such financing is being provided by an unaffiliated lender through a bona fide arms- length transaction.
Developer Financing. At the County’s request, and subject to subsection 7.22(B) (Conditions to Certain Developer Performance Obligations During the Design-Build Period), the Developer shall use all reasonable efforts to obtain the financing required to pay the capital costs that the County is obligated to pay for as referred to in subsection (A) of this Section 6.7, on commercially reasonable terms and subject to the consent of the Senior Lenders, acting reasonably. To the extent the Developer is able to obtain such financing, the cost of the financing will be included in the adjustment of the Service Fee resulting from the implementation of the Design and Construction Requirement Change made at the direction of the County or the Capital Modification. The County shall pay the Developer, as an Extraordinary Item, an amount equal to the reasonable out-of-pocket expenses incurred by the Developer in seeking such financing, provided that the County approved such expenses prior to the Developer incurring them.
Developer Financing. In the event the Developer intends to finance the development of the Development with the Developer's own funds, and will not utilize any third-party financing, then the Financing Plan shall consist of a letter from a reputable financial institution, reasonably acceptable to the City, stating that the Developer has currently available funds or assets to pay for all costs necessary for the development of the Development, substantially in the form attached as Exhibit E. The Developer hereby authorizes the City to contact the financial institution providing such documentation to the City to verify, or otherwise confirm, the Developer's ability to develop the Development and the Developer hereby agrees to provide such additional documentation and execute such additional agreements necessary for the City to determine the Developer's financial condition with the Developer's financial institution. To the extent permitted under applicable law, the City shall keep any financial information obtained confidential.
Developer Financing. Notwithstanding this Section 6.13, Developer may transfer, assign or encumber the Real Estate in order to secure financing for the acquisition of the Real Estate and/or for construction of the Project. Said lender(s) may place a lien and/or mortgage on the Real Estate, including any renewals, extensions, replacements, modifications or refinancing. ▇▇▇▇▇▇▇’ mortgages and/or loans may be transferred or assigned by lender in a secondary market without prior City Council approval. In the event of a foreclosure against Developer by lender or a deed transfer in lieu of foreclosure, lender shall assume the duties, obligations and rights of Developer under this Agreement. In such a circumstance, lender may transfer or assign this Agreement and its accompanying duties, obligations and rights, to another developer without prior City Council approval. In any circumstance, lender shall provide reasonable notice to City of such actions. This Section shall survive any foreclosure proceeding.
Developer Financing. The Developer may secure the financing for any or all of The Northline PUD Projects.
Developer Financing. The Developer is solely responsible for obtaining and repaying all construction and other financing necessary for the Project at its own cost and risk and without recourse to the County and, following the Financial Close Date, exclusively bears the risk of any changes in the interest rate, payment provisions or the other terms and conditions of its financing.
Developer Financing. Within ninety (90) days of the Effective Date, the Developer shall secure a binding financing commitment necessary to Substantially Complete the Development, including, without limitation, a loan commitment from a lender. The Developer’s financing commitments shall be sufficient to cover the equity and debt financing in the amounts set forth in Exhibit H. As a pre-condition of the Village’s conveyance of the Subject Property to the Developer, the Developer shall provide evidence of project financing acceptable to the Village, in the Village’s sole discretion, and provide the Village with the contact name, mailing address, phone number, and e-mail address for the Developer’s lender or lenders (collectively, “Developer’s Lender”). The Village may unilaterally terminate this Agreement and all of the Parties’ obligations hereunder if the Developer fails to provide evidence of Development financing and assurances that are acceptable to the Village.
Developer Financing. The City and TIRZ acknowledge and agree that after Initial Occupancy has occurred, Developer shall have the right to issue bonds or obtain financing for any of the Hotel Grants, Convention Center Grants, and/or the Parking Facility Contributions so long as no guarantee is required from the City or TIRZ. The City and TIRZ shall reasonably cooperate with Developer in connection with any such monetization, which monetization shall be subject to compliance with applicable laws.
Developer Financing. Developer to submit written evidence that Developer has obtained sufficient equity capital and/or debt necessary for the construction and development of the site. Within 30 days of Authority/Agency approval of Agreement but no later than December 1, 2008.