Obligation of City Sample Clauses

Obligation of City. Neither the City nor the CFD has a legal or financial obligation to construct the Acquisition Improvements. All costs incurred for actual construction of the Acquisition Improvements, including all incidentals thereto, shall be borne by Developer, and the obligations of the City and CFD are limited to the acquisition of the Acquisition Improvements pursuant to the provisions of this Agreement.
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Obligation of City. In consideration of Developer entering into this Agreement, City agrees that it will comply with this Agreement, the Approvals that are consistent with the Agreement, and the Subsequent Approvals that are consistent with the Agreement (once approved).
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Obligation of City. The total dollar amount of economic incentives shall not exceed 20% of Developer’s estimated Project costs of $1,820,000. As a result, the maximum City approved TIF #1 incentives eligible to be paid to Developer would be $364,000.00. This maximum is calculated based on 20% of the estimated City approved eligible project costs in the Developer application (20% x $1,820,000) The Parties understand and agree TIF #1 is set to expire twenty-three (23) years from creation on April 23, 2018, expiring April 22, 2041. As a result, City agrees to provide assistance to the Developer under this Agreement until the date of expiration of April 22, 2041, the end of TIF #1 as it is currently established, or until the aforementioned cap is reached, or until there are no additional TIF eligible expenses to reimburse under the TIF Act, whichever occurs first. If any of the dates stated in this Agreement regarding the beginning or end of TIF #1 are not stated correctly, the legal dates established and confirmed by St. Clair County, IL will control. Only incentive money from the TIF #1 fund will be paid out as an incentive for this project, and there is no cause of action for breach of this agreement if the creation and end dates for TIF #1 are incorrectly stated herein. It is the sole responsibility of Developer to ensure the Property is wholly located within TIF # 1 and is eligible for any TIF #1 payments. Funding assistance is broken down as follows: Total Estimated TIF #1 District Eligible Costs: $1,820,000.00 The City may reimburse 50% of the City’s portion of property taxes from the incremental EAV generated by the purchase and development of the Property (reimbursements for expenses that qualify for payment under the TIF Act) up to the end of TIF #1 (in approximately 2041), or until the maximum funding amount is reached in combination with any other funding assistance from City, or until there are no additional TIF eligible expenses to reimburse under the TIF Act, whichever occurs first: The present base EAV, as provided by Developer, for assessment year 2022 is $222.00. Developer’s estimated EAV after redevelopment and completion of the Project is $25,000.00. Based on Developer’s estimate, the estimated EAV increase is estimated to be $24,778.00 upon completion of the Project. 50% of the property taxes from the estimated increase in EAV is $12,389.00. City’s estimated payment to Developer annually, for up to eighteen (18) years, assuming there are eighteen (18) years l...
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Obligation of City. 3.04.1 The City's obligation for payment under this Agreement, if any, is limited to funds received from a grant from the Federal Emergency Management Agency (FEMA) of the United States Department of Homeland Security and the current allocation set out in Section 3.05.2; unless adequate funds are received, the City shall have no obligation to pay Contractor/Subcontractor. Contractor/Subcontractor must look to these designated funds only and to no other funds for the City's payment under this Agreement.
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Obligation of City. All construction costs for the Baseball Facility and the operating reserve must be underwritten by corporate foundations and individual contributions with no cost or obligation whatsoever to the City.
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Obligation of City. During the term of this AGREEMENT, CITY hereby covenants and agrees to the following:
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Obligation of City. For the term set out in this Fire Service Contract, the City shall provide, through the Rome-Xxxxx Fire Department, Fire Service to the unincorporated areas of the County; provided, however, the Automatic Aid Agreement with the City of Cave Spring, Georgia, shall supersede this provision within the area covered by that Agreement.
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Obligation of City. If a determination is made that increases described in 1 Subsection G-2 must be paid, COUNTY thereafter shall include the pro-rata 2 charges for such increases in its monthly invoices to CITY for the balance 3 of the period between July 1, 2022 and June 30, 2023.
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Related to Obligation of City

  • OBLIGATION OF FUNDS This BPA does not obligate any funds. WCCA is obligated only to the extent of authorized purchases through Orders actually made under the BPA.

  • Obligations of City 8.1 City shall –

  • Obligations Unconditional The obligations of the Guarantors under Section 11.01 shall constitute a guarantee of payment and to the fullest extent permitted by applicable Law, are absolute, irrevocable and unconditional, joint and several, irrespective of the value, genuineness, validity, regularity or enforceability of the Guaranteed Obligations of the Borrower under this Agreement, the Notes, if any, or any other agreement or instrument referred to herein or therein, or any substitution, release or exchange of any other guarantee of or security for any of the Guaranteed Obligations, and, irrespective of any other circumstance whatsoever that might otherwise constitute a legal or equitable discharge or defense of a surety or Guarantor (except for payment in full). Without limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not alter or impair the liability of the Guarantors hereunder which shall remain absolute, irrevocable and unconditional under any and all circumstances as described above:

  • Obligation of Parties Following issue of Termination Notice by either Party, the Parties shall promptly take all such steps as may be necessary or required to ensure that;

  • Obligation of Confidentiality The parties agree to hold all Confidential Information in strict confidence and not to copy, reproduce, sell, transfer, or otherwise dispose of, give or disclose such Confidential Information to third parties other than employees, agents, or subcontractors of a party who have a need to know in connection with this Contract or to use such Confidential Information for any purposes whatsoever other than the performance of this Contract. The parties agree to advise and require their respective employees, agents, and subcontractors of their obligations to keep all Confidential Information confidential. Disclosure to a subcontractor is permissible where: (a) use of a subcontractor is authorized under this Contract; (b) the disclosure is necessary or otherwise naturally occurs in connection with work that is within the subcontractor's responsibilities; and (c) Contractor obligates the subcontractor in a written contract to maintain the State's Confidential Information in confidence. At the State's request, any employee of Contractor or any subcontractor may be required to execute a separate agreement to be bound by the provisions of this Section.

  • No Obligation by the Federal Government (A) The Purchaser and CONTRACTOR acknowledge and agree that, notwithstanding any concurrence by the Federal Government in or approval of the solicitation or award of the underlying contract, absent the express written consent by the Federal Government, the Federal Government is not a party to this contract and shall not be subject to any obligations or liabilities to the Purchaser, CONTRACTOR or any other party (whether or not a party to that contract) pertaining to any matter resulting from the underlying contract.

  • Obligations Absolute The obligation of the Borrower to reimburse the L/C Issuer for each drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following:

  • Obligation of the Parties The parties agree to the following obligations under this MOU:

  • NO OBLIGATION BY FEDERAL GOVERNMENT The U.S. federal government is not a party to this Contract or any purchase by a Participating Entity and is not subject to any obligations or liabilities to the Participating Entity, Supplier, or any other party pertaining to any matter resulting from the Contract or any purchase by an authorized user.

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