Mixed-Use Component Minimum Developer Investment Sample Clauses

Mixed-Use Component Minimum Developer Investment. If, by the Reconciliation Date, the Developer fails to invest at least $111,000,000] of private funding in the Mixed-Use Component, the XXX Xxxxx will be proportionately reduced. If, by the Reconciliation Date, the Developer fails to invest at least $95,000,000 of private funding inincur at least $[95,000,000] in Direct Costs for the Mixed-Use Component, the XXX Xxxxx will be terminated and the Developer will repay the City the entire amount of the XXX Xxxxx that has been previously paid to the Developer, if any. Notwithstanding anything herein to the contrary, in the event there is Contractor Litigation on the Reconciliation Date: (i) the amount of Direct Costs incurred for the Mixed-Use Component as of the Reconciliation Date shall be deemed to include the maximum amount of the Direct Costs of the Mixed-Use Component that Developer or a Developer Subsidiary may be obligated to pay as a result of such Contractor Litigation, pending the resolution of such Contractor Litigation; and (ii) upon resolution of such Contractor Litigation by settlement, judgement, or binding arbitration (the “Final Reconciliation Date”), the amount of Direct Costs incurred for the Mixed-Use Component shall be recalculated for purposes of this Section 14.6, taking into consideration the payment of any Direct Costs as a result of such Contractor Litigation. If, by the Final Reconciliation Date, the Developer fails to incur at least $[95,000,000] in Direct Costs for the Mixed-Use Component, the XXX Xxxxx will be terminated and the Developer will repay the City the entire amount of the XXX Xxxxx that has been previously paid to the Developer, if any.
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