Gap Assistance Sample Clauses

Gap Assistance. The parties acknowledge that the City Loan is intended to be gap assistance, not to exceed the amount needed to bridge the gap between the total Acquisition and Development Costs (as defined herein and in the Method of Financing) and the maximum loans obtainable by Owner. No portion of the City Loan may be used to pay for Commercial Improvements or rehabilitation of the Commercial Space.
Sample 1
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Gap Assistance. The Parties acknowledge that the Agency Loan is intended to be “gap” assistance, not to exceed the amount needed to bridge the gap between the total Rehabilitation Costs (as set forth in the Method of Financing) and the maximum loans and tax credits and rebates obtainable, but in any event not to exceed the respective dollar amounts set forth in the Method of Financing. The principal amount of the Agency Loan shall be reduced or repaid, or both, as provided in the Agency Note and the Method of Financing.
Sample 1Sample 2
Gap Assistance. Notwithstanding any other provisions of this Agreement, the Parties acknowledge that the Agency Loan is intended to be gap assistance, not to exceed the amount needed to bridge the gap between the total Rehabilitation Costs (as defined in the OPA) and the maximum loans obtained by Owner plus Owner’s Equity, but in any event not to exceed the respective dollar amounts set forth in this Method of Financing. In the event that both the actual amount of the Rehabilitation Costs is less than the total amount of Rehabilitation Costs set forth in the final Agency- approved Project Budget, and the permanent Sources of Financing for the Rehabilitation Costs are greater than the actual amount of the Rehabilitation Costs, then the Cost Savings (as defined below) shall be applied to reduce the principal amount of the Agency Loan as provided in Section 2.1.f below, and the Additional Proceeds (as defined below) shall be applied to repay the Agency Loan, as provided in Section 2.2.g below. Except as otherwise provided by the OPA (including Section 204.f thereof), the Agency Deed of Trust shall not be subordinated to such increased amount of any construction and permanent Sources of Financing beyond the sources and respective amounts allowed by the OPA and this Method of Financing, without the prior written approval of the Agency Board.
Sample 1
Gap Assistance. The Parties acknowledge that the City Loan is intended to be “gap” assistance, not to exceed the amount needed to bridge the gap between the total Additional Rehabilitation Costs (as set forth in the Project Budget) and the maximum loans and tax credits and rebates obtainable, but in any event not to exceed the respective dollar amounts set forth in the Project Budget. The principal amount of the City Loan shall be reduced or repaid, or both, as provided in the City Note.
Sample 1
Gap Assistance. The parties acknowledge that the City Loan is intended to be gap assistance, not to exceed the amount needed to bridge the gap between the total Acquisition and Development Costs (as defined herein and in the Method of Financing) and the maximum loans obtainable by Developer plus Developer’s equity. In furtherance of this acknowledgement, Developer agrees to the following conditions (“Conditions”): The maximum amount of the City Loan shall not exceed SEVENTEEN MILLION ONE HUNDRED SIXTY THOUSAND DOLLARS ($17,160,000), If there are any increases in Project’s funding gap due to lower tax credit pricing or development cost increases, the additional gap shall be funded by Developer through additional deferment of Developer fees, Developer equity, or other non-City sources. Developer understands and agrees that the Developer’s performance of the Conditions are a material inducement to the City’s execution of this Agreement and that in the event of any dispute between the parties, the Agreement shall be interpreted in a manner that furthers the intent of the Conditions for the benefit of the City. Developer understands and agrees that the Developer’s performance of the Conditions are a material inducement to the City’s execution of this Agreement and that in the event of any dispute between the parties, the Agreement shall be interpreted in a manner that furthers the intent of the Conditions for the benefit of the City. No portion of the City Loan may be used to pay construction costs directly attributable to the Retail Improvements.
Sample 1
Gap Assistance. The Agency Loans are intended to serve as gap assistance, not to exceed the amount needed to bridge the gap between other loans obtainable by Developer plus Developer’s equity and Development Costs (as defined herein and as set forth in the Project Budget (Attachment No. 7)). In furtherance of this acknowledgement, Developer agrees that if there are any increases in Project’s funding gap for whatever reason, including without limitation, lower tax credit pricing or development cost increases, the additional gap shall be funded by Developer through additional deferment of Developer fees, Developer equity, or other non-Agency sources. If Developer proposes to redesign the Project or add new features to the Project which result in a cost savings or Developer obtains additional sources of financing or equity, the savings or additional financing sources will be allocated in accordance with the terms set forth in the Amended Method of Financing (Attachment No. 3).
Sample 1
Gap Assistance. The parties acknowledge that the Agency Loan is intended to be gap assistance, not to exceed the amount needed to bridge the gap between the total Development Cost (as defined herein and in the Method of Financing) and the maximum loans obtainable by Owner plus Owner’s equity. In furtherance of this acknowledgement, Owner agrees to the following conditions (“Conditions”):
Sample 1
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Gap Assistance. Notwithstanding any other provisions of this Agreement, the Parties acknowledge that the City Loan is intended to be gap assistance, not to exceed the amount needed to bridge the gap between the total Improvement Costs (as defined in the OPA) and the maximum loans, grants, tax credit equity, and other financing sources obtainable by Owner plus Owner Equity and Deferred Developer Fee, but in any event not to exceed the respective dollar amounts set forth in this Method of Financing. In the event that both the actual amount of the Improvement Costs is less than the total amount of Improvement Costs set forth in the final City-approved Project Budget, and the permanent Sources of Financing for the Improvement Costs are greater than the actual amount of the Improvement Costs, then the Cost Savings (as defined below) shall be applied to reduce the principal amount of the City Loan as provided in Section 2.1.c.11 below, and the Additional Proceeds (as defined below) shall be applied to repay the City Loan, as provided in Section 2.2.j below. Except as otherwise provided by the OPA (including Section 204.f thereof), the City Deed of Trust shall not be subordinated to such increased amount of any construction and permanent Sources of Financing beyond the sources and respective amounts allowed by the OPA and this Method of Financing, without the prior approval of the City Council.
Sample 1
Gap Assistance. The parties acknowledge that the City Loan is intended to be gap assistance, not to exceed the amount needed to bridge the gap between the total Acquisition and Development Costs (as defined herein and in the Method of Financing) and the maximum loans obtainable by Developer plus Developer’s equity. In furtherance of this acknowledgement, Developer agrees to the following conditions (“Conditions”): The maximum amount of the City Loan shall not exceed ELEVEN MILLION SIX HUNDRED THOUSAND DOLLARS ($11,600,000). If there are any increases in Project’s funding gap due to lower tax credit pricing or development cost increases, the additional gap shall be funded by Developer through additional deferment of Developer fees, Developer equity, or other non-City sources. Developer understands and agrees that the Developer’s performance of the Conditions are a material inducement to the City’s execution of this Agreement and that in the event of any dispute between the parties, the Agreement shall be interpreted in a manner that furthers the intent of the Conditions for the benefit of the City.
Sample 1

Related to Gap Assistance

  • Legal Assistance The Board shall give full support including legal and other assistance for any assault upon the employee while properly acting in the discharge of his/her duties.

  • Peer Assistance Both new and experienced teachers benefit from professional support provided by other classroom teachers. For the purpose of this article, peer assistance describes activities planned and implemented by the Consulting Teacher in collaboration with the Participating Teacher and the supervising administrator. The activities shall be designed to strengthen the Participating Teacher’s skill and expertise in accordance with the California Standards for the Teaching Profession in the following areas: mastery of content, instructional skills and techniques, alignment to District approved goals and objectives, classroom management, planning and designing lessons for all children, assessment of student progress toward established standards, appropriate learning environment.

  • Tuition Assistance Bargaining unit employees can enroll in university or college, vocational technical school or extension courses. The course may be by correspondence or attendance at classes during non-working hours or during working hours with approval of the Agency Head and/or his/her Designee. Where practicable, in relation to work requirements, the Employer shall be liberal with the approval of requests for accrued/unused vacation leave, flex-time scheduling, compensatory time, or leave without pay for the purpose of enabling employees to attend classes conducted during an employee's regularly scheduled work hours.

  • Educational Assistance To qualify for reimbursement, an employee must be a regular employee upon enrollment. To be approved, the courses described below must be related to the employee's present position or career development:

  • Client Assistance You acknowledge that the implementation of the Tyler Software is a cooperative process requiring the time and resources of your personnel. You agree to use all reasonable efforts to cooperate with and assist us as may be reasonably required to meet the agreed upon project deadlines and other milestones for implementation. This cooperation includes at least working with us to schedule the implementation-related services outlined in this Agreement. We will not be liable for failure to meet any deadlines and milestones when such failure is due to Force Majeure or to the failure by your personnel to provide such cooperation and assistance (either through action or omission).

  • Mutual Assistance Each party shall assist the other in complying with all applicable requirements of the Data Protection Legislation. In particular, each party shall:

  • Transition Assistance If this Contract is not renewed at the end of this term, if the Contract is otherwise terminated before project completion, or if particular work on a project is terminated for any reason, Contractor shall provide transition assistance for a reasonable, mutually agreed period of time after the expiration or termination of this Contract or particular work under this Contract. The purpose of this assistance is to allow for the expired or terminated portion of the services to continue without interruption or adverse effect, and to facilitate the orderly transfer of such services to State or its designees. The parties agree that such transition assistance is governed by the terms and conditions of this Contract, except for those terms or conditions that do not reasonably apply to such transition assistance. State shall pay Contractor for any resources utilized in performing such transition assistance at the most current Contract rates. If State terminates a project or this Contract for cause, then State may offset the cost of paying Contractor for the additional resources Contractor utilized in providing transition assistance with any damages State may have sustained as a result of Contractor’s breach.

  • Roadside Assistance If you purchase the optional Roadside Assistance, we will provide you with 24/7 breakdown assistance (where available) without additional charge. Roadside Assistance includes replacement of lost keys or key fobs, flat tire service, jumpstart, and key lockout services. When deciding whether to purchase Roadside Assistance, you may wish to check whether you have you have other coverage for the services. Roadside Assistance is not insurance. Roadside Assistance is void if you are in breach of this Agreement, including the prohibited uses in paragraph 5.

  • Study Assistance An employee who is approved by Australia Post as a student to undertake a course of study or a short course of instruction may be granted reimbursement in full or in part of fees incurred for the course.

  • Technical Assistance The State agrees to provide technical assistance regarding the State’s rules, regulations and policies to the Sub- Recipient and to assist in the correction of problem areas identified by the State’s monitoring activities.

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