Developer’s Financing for the Project Sample Clauses

Developer’s Financing for the Project. The Developer shall complete or cause to be completed all actions necessary to secure and provide evidence of adequate sufficient to complete development of the Project in accordance with the Agreement. Funding may be in the form of equity capital, preferred equity, debt financing, including both secured and unsecured debt (a “Loan”), disposition proceeds and cash flow from operations, in an amount sufficient to complete the development and construction of the Project on the Site, and to comply with all other requirements imposed upon Developer as provided herein. Within the time established in the Performance Schedule (Exhibit C), the Developer shall submit to the City evidence, in a form reasonably acceptable to the City, that it has the funds required to meet commitments to construct the Project in accordance with this Agreement. The evidence provided must demonstrate to the City’s reasonable satisfaction that the Developer’s equity investment and Loan secured by the Developer are equal to or exceed the total costs of the development and construction of the Project. A loan commitment from a Lender in suitable form shall satisfy this requirement as it relates to debt financing. Any encumbrance associated with financing of the Project that is approved by the City under this Agreement shall be deemed a Permitted Encumbrance. In the event the City disapproves of Developer’s evidence of equity investment and Loan or Developer is unable to obtain and deliver such evidence of financing commitments to the City as provided above, then either party may terminate this Agreement as provided herein by giving written notice to the other party, and thereafter neither party shall have any further rights or obligations hereunder.
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Related to Developer’s Financing for the Project

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