Common use of Nature and Sufficiency of Consideration Clause in Contracts

Nature and Sufficiency of Consideration. By and through the execution of this Contract, the Authority agrees to provide certain goods and services to Participant, including: (a) the development and administration of a GRP that includes Participant, (b) the design, permitting, construction, operation, maintenance, and administration of the Project and related facilities, improvements, appurtenances, property, and interests in property by the Authority, as necessary to implement the GRP and thereby benefit Participant, (c) the sale of treated surface water by the Authority to certain Participants, as necessary to implement the GRP and thereby benefit Participant, (d) the administration of the GRP and the Project by the Authority, (e) the financing by the Authority of design, permitting, construction, and other costs related to the Project, (f) the establishment and administration of the Project, the GRP, and the Rules, and (g) the establishment, collection, enforcement, and application of fees, rates, and charges. The Authority acknowledges that an essential element of the consideration for Participant to enter into this Contract is that the Authority will adopt, implement and enforce the GRP in good faith and with due diligence for the purpose and objective of achieving and maintaining compliance with the Plan. In consideration of the foregoing, Participant agrees to pay the Authority certain fees, rates, and charges pursuant to the terms and provisions of this Contact, including Article VI hereof. The Parties acknowledge the sufficiency of such consideration.

Nature and Sufficiency of Consideration. By and through the execution of this Contract, the Authority agrees to provide certain goods and services to Participant, including: (a) the development and administration of a GRP that includes Participant, (b) the design, permitting, construction, operation, maintenance, and administration of the Project and related facilities, improvements, appurtenances, property, and interests in property by the Authority, as necessary to implement the GRP and thereby benefit Participant, (c) the sale of treated surface water by the Authority to certain Participants, as necessary to implement the GRP and thereby benefit Participant, (d) the administration of the GRP and the Project by the Authority, (e) the financing by the Authority of design, permitting, construction, and other costs related to the Project, (f) the establishment and administration of the Project, the GRP, and the Rules, and (g) the establishment, collection, enforcement, and application of fees, rates, and charges. The Authority acknowledges understands that an essential element of the consideration for Participant to enter into this Contract is that the Authority will adopt, implement achieve and enforce the GRP in good faith and with due diligence for the purpose and objective of achieving and maintaining maintain compliance with the PlanPlan for the benefit of the Participants. In consideration of the foregoing, Participant agrees to pay the Authority certain fees, rates, and charges charges, the sufficiency of which are hereby acknowledged by the Parties, pursuant to the terms and provisions of this Contact, including Article VI hereof. The Parties acknowledge the sufficiency of such consideration.

Nature and Sufficiency of Consideration. By and through the execution of this Contract, the Authority agrees to provide certain goods and services to Participant, including: (a) the development and administration of a GRP that includes Participant, (b) the design, permitting, construction, operation, maintenance, and administration of the Project and related facilities, improvements, appurtenances, property, and interests in property by the Authority, as necessary to implement the GRP and thereby benefit Participant, (c) the sale of treated surface water by the Authority to certain Participants, as necessary to implement the GRP and thereby benefit Participant, (d) the administration of the GRP and the Project by the Authority, (e) the financing by the Authority of design, permitting, construction, and other costs related to the Project, (f) the establishment and administration of the Project, the GRP, and the Rules, and (g) the establishment, collection, enforcement, and application of fees, rates, and charges. The Authority acknowledges that an essential element of the consideration for Participant to enter into this Contract is that the Authority will adopt, implement and enforce the GRP in good faith and with due diligence for the purpose and objective of achieving and maintaining compliance with the Plan. In consideration of the foregoing, Participant agrees to pay the Authority certain fees, rates, and charges charges, the sufficiency of which are hereby acknowledged by the Parties, pursuant to the terms and provisions of this Contact, including Article VI hereof. The Parties acknowledge the sufficiency of such consideration.