Payment of Community Enhancement Contributions Sample Clauses

Payment of Community Enhancement Contributions. Developer acknowledges that the scale of the project requires a community partnership that will result in significant benefits to the Developer and City. To xxxxxx this partnership, Xxxxxxxxx agrees to provide Community Enhancement Contributions, hereinafter defined, to the City during the term of this Agreement. Upon annexation of substantially all of the Property as set forth in this Agreement, Developer shall make a non-refundable contribution to the City in the amount of Two Million ($2,000,000.00) Dollars (“Initial Community Enhancement Contribution”). Except for buildings exempt, as set forth below, upon receipt by Developer of subdivision approval and receipt of a building permit for any building to be constructed on the Property, the Developer shall pay to the City, in addition to all appropriate fees applied City-wide (listed below), a non-refundable contribution in an amount equal to the square feet contained in the building to be constructed multiplied by $0.33 (“Community Enhancement Contribution”). The total Community Enhancement Contribution, including the Initial Community Enhancement Contribution shall not exceed Six Million Six Hundred and Twenty Thousand ($6,620,000.00) Dollars. Developer shall have no obligation to pay a Community Enhancement Contribution for any building for which a majority of the square footage of the building is to be used for a manufacturing or office use or for which state sales tax is generated. For purposes of this Agreement, a manufacturing use is one in which materials or products, whether raw or processed, are produced, processed, assembled or in any way manipulated to add value as opposed to the strict distribution of materials and products. Xxxxxxxxx agrees to timely pay in full at the time of the issuance of a building permit for the subject property, the following items (“Development Fees”) in accordance with the applicable Ordinances, as such Ordinances may be presently constituted or as may hereafter be amended.
Sample 1
AutoNDA by SimpleDocs

Related to Payment of Community Enhancement Contributions

  • WHEREAS the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and

  • Termination This Agreement may be terminated at any time prior to the Closing:

  • Definitions For purposes of this Agreement:

  • General The Trustee shall keep proper books of record and account of all the transactions of each Trust under this Indenture at its corporate trust office, including a record of the name and address of, and the Units issued by each Trust and held by, every Unit holder, and such books and records of each Trust shall be open to inspection by any Unit holder of such Trust at all reasonable times during the usual business hours. The Trustee shall make such annual or other reports as may from time to time be required under any applicable state or federal statute or rule or regulations thereunder.

  • Entire Agreement This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter contained in this Agreement and supersedes all prior agreements, understandings and negotiations between the parties.

  • IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written.

  • NOW, THEREFORE the parties hereto agree as follows:

  • Notices Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance with the notice provisions of the Purchase Agreement.

  • Severability Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

Time is Money Join Law Insider Premium to draft better contracts faster.