Common use of Grant Limitations Clause in Contracts

Grant Limitations. Under no circumstances shall obligations of the City hereunder be deemed to create any debt within the meaning of any constitutional or statutory provision. Further, City shall not be obligated to pay any commercial bank, lender or similar institution for any loan or credit agreement made by the Applicant. None of the obligations of the City under this Agreement shall be pledged or otherwise encumbered in favor of any commercial lender and/or similar financial institution. Additionally, under no circumstance shall the Applicant use the program Grant for any other purposes other than for the promotion and advertisement of their qualifying local business within the Corridor.

Grant Limitations. Under no circumstances shall City obligations of the City hereunder be deemed to create any debt within the meaning of any constitutional or statutory provision. Further, City shall not be obligated to pay any commercial bank, lender or similar institution for any loan or credit agreement made by the ApplicantCompany. None of the City’s obligations of the City under this Agreement shall be pledged or otherwise encumbered in favor of any commercial lender and/or similar financial institution. Additionally, under no circumstance shall the Applicant use the program Grant for any other purposes other than for the promotion and advertisement of their qualifying local business within the Corridor.

Grant Limitations. Under no circumstances shall City obligations of the City hereunder be deemed to create any debt within the meaning of any constitutional or statutory provision. Further, City shall not be obligated to pay any commercial bank, lender or similar institution for any loan or credit agreement made by the ApplicantCompany. None of the City’s obligations of the City under this Agreement shall be pledged or otherwise encumbered by Company in favor of any commercial lender and/or similar financial institution. Additionally, under no circumstance shall the Applicant use the program Grant for any other purposes other than for the promotion and advertisement of their qualifying local business within the Corridor.