FAA Grants and Government Financing Clause Samples
FAA Grants and Government Financing. In accordance with the terms and conditions of this Agreement, Town will consider, in the exercise of its reasonable discretion, funding from the FAA during the Term, as such funding is necessary and appropriate to improve and upgrade the Airport Movement Areas. Moreover, the Town agrees to cooperate to extent required to assist Operator in securing applicable government financing for the Airfield Improvements during the entire Term hereof once the Town has agreed to the improvements and upgrades, subject to the availability of matching funds.
FAA Grants and Government Financing. The Town encourages, authorizes and charges Operator to seek funding from the FAA for improvement and upgrade of the Airport Movement Areas and Airfield Improvements, and shall consider such funding proposals brought to it by Operator. Further, the Town agrees to cooperate, to the extent required, and assist Operator in securing other types of applicable government financing for the Airfield Improvements during the Term. Operator agrees to be primarily responsible in the application for and administration of such funding, and the Town shall assist Operator as necessary. The Town shall be solely responsible for serving as the sponsor of such funding and for the payment of the sponsor's share. The Parties agree that any federal or state funds received shall be disbursed and accounted for in accordance with the terms and conditions of the applicable grant or loan program.