Funding of Construction Sample Clauses

Funding of Construction. Once the Program is adopted by the Parties and after the Operative Date, the Participants will fund the Program in accordance with each of their proportionate Shares in the Property. If any Participant elects not to contribute to a Program, it will have its Interest diluted in the manner contemplated in Sections 15.5 and 15.6.
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Funding of Construction. Gatherer shall contribute, in accordance with the procedures set forth in Section 6.3 of this Agreement, up to $750,000 (the "Funded Amount") to be used solely for all costs and expenses associated with the construction of the Collection Facilities.
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Funding of Construction. (1) The City is responsible for paying the costs of constructing the Offsite Improvements, subject to specific annual appropriation therefor by the City Council. The City Manager or other officer of the City at any time charged with the responsibility of formulating budget proposals for the City is hereby directed to include items for all payments required for the construction of the Offsite Improvements in the ensuing fiscal year, if any, in the annual budget proposals submitted to the City Council. Notwithstanding this directive regarding the formulation of budget proposals, it is the intention of the City that any decision to effect an appropriation for the Offsite Improvements will be made solely by the City Council in its absolute discretion and not by any other official of the City. The City anticipates that it will use a combination of cash on hand and grants to pay the costs of the Offsite Improvements, provided, however, that the City may choose to obtain financing for the Offsite Improvements and may use any financing mechanism available to it under the Charter and the laws of the State. The Parties agree that the City may use the Developer’s contribution of open space, including any contributions made in accordance with Section II(c)(i) above, or the value thereof, as a match for any available grant funding for the Offsite Improvements. (2) Nothing contained in this Agreement will prevent the City from seeking to recapture costs related to the construction of the Offsite Improvements from other properties through the imposition of fees and third-party reimbursement obligations that are imposed in accordance with the City Code and applicable State statutes.
Sample 1
Funding of Construction. The City is responsible for paying the costs of constructing the Phase 1 Onsite Public Improvements, subject to specific annual appropriation therefore by the City Council. The City Manager or other officer of the City at any time charged with the responsibility of formulating budget proposals for the City is hereby directed to include items for all payments required for the construction of the Phase 1 Onsite Public Improvements in the ensuing fiscal year, if any, in the annual budget proposals submitted to the City Council. Notwithstanding this directive regarding the formulation of budget proposals, it is the intention of the City that any decision to effect an appropriation for the Phase 1 Onsite Public Improvements will be made solely by the City Council in its absolute discretion and not by any other official of the City. The City anticipates that it will use a combination of cash on hand and grants to pay the costs of the Phase 1 Onsite Public Improvements, provided, however, that the City may choose to obtain financing for the Phase 1 Onsite Public Improvements and may use any financing mechanism available to it under the Charter and the laws of the State.
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Funding of Construction. The Developer is responsible for paying the costs of constructing the Phase 1 Onsite Private Site and Vertical Improvements.
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Funding of Construction. The Developer is responsible for paying the costs of constructing the Future Improvements. The costs for the Future Onsite Public Improvements may be paid for by a metropolitan district, if in accordance with such district’s service plan, or other quasi-municipal governmental entity with boundaries overlapping a portion of the Property, if permitted by such entity’s organizational documents.
Sample 1
Funding of Construction. (a) The parties acknowledge that the total project cost for acquisition of the Land and construction of the Building and related improvements and fixturization in accordance with the Drawings and Specifications is Fifty-Seven Million Seven Hundred Ninety Five Thousand Three Hundred Eighty Three Dollars ($57,795,383.00) as set forth on the detailed line item budget and schedule of values (the “Budget”) on Exhibit C attached hereto and consists of (i) a purchase price of Forty Seven Million Dollars ($47,000,000.00) (the “Purchase Price”) payable by Owner pursuant to the Sale Agreement to acquire the Land and the Improvements, of which $27,830,049.74 Owner is funding at Closing (the “Closing Funds”) and the balance of $19,169,950.26 (the “Holdback Funds”) are to be disbursed in accordance with this Agreement, (ii) Ten Million Seven Hundred Ninety Five Thousand Three Hundred Eighty Three Dollars ($10,795,383.00) in costs for construction and fixturization of the Improvements previously funded by Tenant (“Tenant’s Contribution”) in accordance with the Tenant Contribution Budget attached hereto as Exhibit E, and (iii) subject to the terms and conditions herein set forth, the balance of the construction costs of the Improvements, which cost is currently anticipated to be $5,004,750.86 (the “Completion Funds”). The Holdback Funds in the amount of $19,169,950.26 is hereafter sometimes referred to as “Owner’s Maximum Cost”. Subject to the limits on Change Orders set forth in Section 8, in no event shall Owner’s payments exceed Owner’s Maximum Cost as such amount may be decreased, from time to time, pursuant to Section 9. The parties acknowledge that the Budget contains $0 in contingencies (the “Contingency”). (b) Any change by Tenant to the Drawings and Specifications, the Project Schedule and/or the Budget which constitutes a “Material Deviation” from the standards set forth in the Specifications shall be submitted by Tenant in writing to Owner (“Change Order(s)”), and Owner shall not unreasonably withhold its consent thereto, so long as appropriate adjustments are made to the Drawings and Specifications, the Project Schedule and the Budget. As used herein, a “Material Deviation” shall be deemed to mean one which either (1) results in an increase or decrease in the square footage of the Building of one percent (1%) or more, (2) changes the footprint of the Building, (3) alters the structure of the Building (including the specifications of the structure), or (4) alt...
Sample 1
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Related to Funding of Construction

  • Completion of Construction Within 60 days of the completion of construction of the Project, Project Owner shall deliver to DoD copies of the FAA form 7460-2 for each ASN, including the final coordinates for each turbine erected.

  • Rules of Construction Unless the context otherwise requires: (1) a term has the meaning assigned to it; (2) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP;

  • Interpretation and Construction When a reference is made in this Agreement to a Section, such reference shall be to a Section of this Agreement, unless otherwise indicated. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Whenever the words “include,” “includes” and “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” The words “hereof, “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The word “will” shall be construed to have the same meaning as the word “shall.” The words “dates hereof” will refer to the date of this Agreement. The word “or” is not exclusive. The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms. Any agreement, instrument, law, rule or statute defined or referred to herein means, unless otherwise indicated, such agreement, instrument, law, rule or statute as from time to time amended, modified or supplemented. Each of the parties hereto acknowledges that it has been represented by counsel of its choice throughout all negotiations that have preceded the execution of this Agreement, and that it has executed the same with the advice of said independent counsel. Each party cooperated and participated in the drafting and preparation of this Agreement and the documents referred to herein, and any and all drafts relating thereto exchanged among the parties shall be deemed the work product of all of the parties and may not be construed against any party by reason of its drafting or preparation. Accordingly, any rule of law or any legal decision that would require interpretation of any ambiguities in this Agreement against any party that drafted or prepared it is of no application and is hereby expressly waived by each of the parties hereto, and any controversy over interpretations of this Agreement shall be decided without regards to events of drafting or preparation.

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