Economic Impracticability Sample Clauses

Economic Impracticability. The City hereby acknowledges that circumstances and events may occur whereby the Developer determines, for reasons of market considerations, adverse interest rates or other market factors, that it is no longer economically feasible to pursue or complete the development of the Property or an individual Phase therein in accordance with the PAD and/or the Schedule of Performance. In the event that the Developer makes such a determination and provides notice of such to the City, the City and Developer shall work together to mutually agree to a suspension of the Developer’s performance for a reasonable period of time, and a like suspension for any performance required of the City where performance by the Developer is practically required or is required as a condition precedent to the City’s obligation to perform, whereupon the Schedule of Performance shall be accordingly revised. In the event that the Developer and the City are unable to agree upon a reasonable revised Schedule of Performance, and either Developer or the City reasonably believe that the economic considerations of development of the Property can be cured by further modifying the PAD, then, in that event, the City and the Developer shall meet in good faith and attempt to resolve such economic infeasibility by, among other things, reallocating uses of the Parcels within the Property or processing further modifications and amendments to the PAD as may be reasonable to permit economically feasible development thereof. If the Developer and the City are unable to agree upon a reasonable revised Schedule of Performance and neither party believes the economic considerations of development of the Property can be cured by further modifying the PAD, then, in that event, the issue of the revision of the Schedule of Performance shall be submitted to mediation pursuant to the provisions of Section 10.3 below (it being understood by the parties that the mediator shall only be requested to address the issue of revising the Schedule of Performance and shall not have any authority with respect to modifications to the PAD).
Sample 1
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Related to Economic Impracticability

  • Applicability Unless you are exempt as provided in paragraph d. of this award term, you must report each action that obligates $25,000 or more in Federal funds that does not include Recovery funds (as defined in section 1512(a)(2) of the American Recovery and Reinvestment Act of 2009, Pub. L. 111-5) for a subaward to an entity (see definitions in paragraph e. of this award term).

  • Impossibility Neither party shall be in default of this Charter, if the performance of any or all of this Charter is prevented, delayed, hindered or otherwise made impracticable or impossible by reason of any strike, flood, hurricane, riot, fire, explosion, war, act of God, sabotage or any other casualty or cause beyond either party’s control, and which cannot be overcome by reasonable diligence and without unusual expense.

  • Non-Grievability No dispute over a claim for any benefits extended by this Health and Welfare Fund shall be subject to the grievance procedure.

  • Abuse, Neglect, Exploitation Grantee will;

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  • Unusual Circumstances If during a contract term where costs to the City are to remain firm or adjustments are restricted by a percentage or CPI cap, unusual circumstances that could not have been foreseen by either party of the contract occur, and those circumstances significantly affect the Contractor’s cost in providing the required prior items or services, then the Contractor may request adjustments to the costs to the City to reflect the changed circumstances. The circumstances must be beyond the control of the Contractor, and the requested adjustments must be fully documented. The City may, after examination, refuse to accept the adjusted costs if they are not properly documented, increases are considered to be excessive, or decreases are considered to be insufficient. In the event the City does not wish to accept the adjusted costs and the matter cannot be resolved to the satisfaction of the City, the City will reserve the following options:

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