Legal Challenges. Any and all undisbursed "Excess Excise Tax" subject to reimbursement hereunder shall be escrowed in the event there is a legal challenge affecting the obligations of the Parties pursuant this Agreement in general or to this Agreement specifically. In the event of such a legal challenge, Owner may continue to receive reimbursements under this Agreement if it posts a bond or other security, in a form acceptable to the City, for the full amount of such reimbursements. The City shall actively defend against any such legal challenge, and Owner may participate in such defense at its own cost and expense.
Appears in 4 contracts
Samples: Tax Incentive Program Agreement, Tax Incentive Program Agreement, Tax Incentive Program Agreement
