MUTUAL UNDERTAKING TO RE-ADJUST Sample Clauses

MUTUAL UNDERTAKING TO RE-ADJUST. The Owner and the Town mutually undertake to pay to the other as applicable, immediately upon the “By-law” contemplated by this agreement being passed by the Town, the difference if any between the Estimated Costs and the amount that would have been payable by the Owner and otherwise chargeable against the Lands under the By-law. To the extent the Owner fails to pay any sum due upon re-adjustment, the Owner acknowledges and agrees that the Town reserves its rights to collect that amount by adding it to the property taxes assessed against the lands and collecting it in like manner as taxes as permitted under the Municipal Act;
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Related to MUTUAL UNDERTAKING TO RE-ADJUST

  • General Undertakings The undertakings in this Clause 22 remain in force from the date of this Agreement for so long as any amount is outstanding under the Finance Documents or any Commitment is in force.

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  • Mutual Understanding Each party has read this Agreement, fully understands the contents of it, has had the opportunity to obtain independent legal advice regarding the Agreement’s legal effect, and is under no duress regarding its execution.

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  • NOW IT IS HEREBY AGREED AS FOLLOWS 1. Words and expressions defined in the Principal Agreement when used in this Agreement have, unless the context otherwise requires, the same meanings as in the Principal Agreement and the provisions of clause 2 of the Principal Agreement as to the interpretation thereof shall apply to this Agreement.

  • Violation of Agreement If Guest or any member of the Rental Party violates any of the terms of this Agreement, including but not limited to maximum occupancy, visitors and rental rules and restrictions, Owner may evict Guest and the Rental Party from the Property and Guest will forfeit all rent and security deposit paid.

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