Common use of Developer’s Equity Contribution Clause in Contracts

Developer’s Equity Contribution. Developer shall have provided to City credible and reliable evidence of the Developer’s Equity Contribution on or before the Closing Date. If one or more of the conditions set forth in this Section is not, or cannot be, timely and completely satisfied, then, as their sole and exclusive remedy, City either may elect to: (i) waive in writing satisfaction of the conditions and proceed to the Closing; or (ii) terminate this Agreement by a written notice to Developer; provided that, with respect to any unsatisfied conditions resulting from a breach of this Agreement by Developer, City and/or the applicable City Body shall have all of the rights and remedies set forth in Sections 16 and/or 17, as applicable. Notwithstanding anything to the contrary set forth herein, (1) City shall work diligently and in good faith to satisfy the conditions set forth in this Section; and (2) if City fails to terminate this Agreement for any unsatisfied condition; on or before the earlier of (i) the later of the Closing Date; or (ii) two (2) business days after the applicable deadline set forth in each of the foregoing subsections; City shall be deemed to have waived such condition.

Developer’s Equity Contribution. Developer shall have provided to City credible and reliable evidence of the Developer’s Equity Contribution on or before the Closing Date. If one or more of the conditions set forth in this Section is not, or cannot be, timely and completely satisfied, then, as their sole and exclusive remedy, City either may elect to: (i) waive in writing satisfaction of the conditions and proceed to the Closing; or (ii) terminate this Agreement by a written notice to Developer; provided that, with respect to any unsatisfied conditions resulting from a breach of this Agreement by Developer, City and/or the applicable City Body shall have all of the rights and remedies set forth in Sections 16 and/or 17, as applicable. Notwithstanding anything to the contrary set forth herein, (1) City shall work diligently and in good faith to satisfy the conditions set forth in this Section; and (2) if City fails to terminate this Agreement for any unsatisfied condition; on or before the earlier of (i) the later of the Closing Date; or (ii) two (2) business days after the applicable deadline set forth in each of the foregoing subsections; City shall be deemed to have waived such condition.”

Developer’s Equity Contribution. Developer shall have provided to City credible and reliable evidence of the Developer’s Equity Contribution on or before the Closing Bond Proceeds Date. If one or more of the conditions set forth in this Section is not, or cannot be, timely and completely satisfied, then, as their sole and exclusive remedy, City either may elect to: (i) waive in writing satisfaction of the conditions and proceed to the ClosingClosing and/or the Bond Proceeds Date; or (ii) terminate this Agreement by a written notice to Developer; provided that, with respect to any unsatisfied conditions resulting from a breach of this Agreement by Developer, City and/or the applicable City Body shall have all of the rights and remedies set forth in Sections 16 and/or 17, as applicable. Notwithstanding anything to the contrary set forth herein, (1) City shall work diligently and in good faith to satisfy the conditions set forth in this Section; and (2) if City fails to terminate this Agreement for any unsatisfied condition; on or before the earlier of (i) the later of the Closing Date and the Bond Proceeds Date; or (ii) two (2) business days after the applicable deadline set forth in each of the foregoing subsections; City shall be deemed to have waived such condition.