Public Benefit Contribution Sample Clauses

Public Benefit Contribution. In the event that the Phase 1 Closing (as defined in the PSA) occurs, then concurrent with the Phase 2 Closing (as defined in the PSA), as such date may be extended pursuant to Section 32 below, Developer (excluding any Developer of an Affordable Housing Lot) shall pay to City a Public Benefit Contribution of Two Million Dollars ($2,000,000.00). In the event that the Phase 1 Closing occurs but the Phase 2 Closing does not occur, then no later than thirty (30) days after such Phase 2 Closing would otherwise have occurred pursuant to the PSA, Developer shall deliver written notice to the City of its election to do one of the following:
Sample 1Sample 2
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Public Benefit Contribution. City shall use the Public Benefit Contribution toward satisfaction of its obligations pursuant to Section 11(a) above; provided that, in the event that City provides evidence reasonably satisfactory to Developer that City has secured alternative funding sufficient to satisfy in full its obligations pursuant to Section 11(a) above, City may use the Public Benefit Contribution for other public purposes as determined by City. .
Sample 1
Public Benefit Contribution. Developer shall pay to the City a Public Benefit Contribution of Six Hundred Thousand Dollars ($600,000) on or before May 1, 2024; provided that if Developer does not do so, the liquidated damages provisions of clause (g) below shall apply. Concurrently with its execution and delivery of this Agreement, Developer shall deliver to the City a fully executed originals of (a) the promissory note in the form attached hereto as Exhibit B (“Note”) and (b) the deed of trust in the form attached hereto as Exhibit C, which must be duly acknowledged by a notary public (“Trust Deed”). The Note shall evidence, and the Trust Deed shall secure, the Developer’s obligation to pay the $800,000 of liquidated damages payable under clause (g) below. The Trust Deed shall be recorded against the Property by a title company acceptable to City which shall issue to the City, at Developer’s cost, an ALTA Lenders Policy of Title Insurance with coverage in the amount of $800,000 insuring the City that the Trust Deed is a first lien on the Property and that all property taxes and assessments are paid current. Developer shall pay the cost of recording the Trust Deed. If Developer pays the Public Benefit Contribution by May 1, 2024, or satisfies its obligations under such that liquidated damages could no longer be payable under Section 10(g) below, then the City shall promptly, upon request by the Developer, execute, acknowledge and deliver to the Developer a full reconveyance of the Trust Deed to be recorded releasing the Trust Deed from the Property (“Reconveyance”). The City shall executed reasonable recordable nondisturbance agreements in favor of tenants under leases permitted by this Agreement, such that such tenants’ leases will not be extinguished upon any foreclosure of the Trust Deed. For avoidance of doubt, if Developer pays the Public Benefit Contribution by May 1, 2024, the Note shall terminate and be returned to Developer, the Trust Deed shall be reconveyed and the provisions of Section 10(g) below shall terminate and be of no further force or effect.
Sample 1

Related to Public Benefit Contribution

  • Retirement Contribution 1. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay its cost of the 6.5% or 7.5% retirement contribution for employees in the bargaining unit who are covered under special Law Enforcement retirement plans. 2. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications.

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

  • Public Benefit It is Reaction Retail’s understanding that the commitments it has agreed to herein, and actions to be taken by Reaction Retail under this Settlement Agreement, would confer a significant benefit to the general public, as set forth in Code of Civil Procedure § 1021.5 and Cal. Admin. Code tit. 11, § 3201. As such, it is the intent of Reaction Retail that to the extent any other private party initiates an action alleging a violation of Proposition 65 with respect to Reaction Retail’s failure to provide a warning concerning exposure to DEHP prior to use of the Products it has manufactured, distributed, sold, or offered for sale in California, or will manufacture, distribute, sell, or offer for sale in California, such private party action would not confer a significant benefit on the general public as to those Products addressed in this Settlement Agreement, provided that Reaction Retail is in material compliance with this Settlement Agreement.

  • Compensation/Benefit Programs During the Term of Employment, the Executive shall be entitled to participate in all medical, dental, hospitalization, accidental death and dismemberment, disability, travel and life insurance plans, and any and all other plans as are presently and hereinafter offered by the Company to its executive personnel, including savings, pension, profit-sharing and deferred compensation plans, subject to the general eligibility and participation provisions set forth in such plans.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

  • Company Contributions The Company shall continue to make a Company Contribution for Plan Years 2017, 2018 and 2019, on the same terms and conditions set forth in the Participant Agreement, with the performance metrics and targets in connection with such Company Contributions for such Plan Years to be established in the sole discretion of the Committee, following consultation with the Chief Executive Officer of the Company.

  • Defined Contribution Plan The Employer will establish the following Employer contribution programs in the existing salary deferral plans: » Beginning in 2006 and continuing throughout the term of the Agreement, a performance-based contribution

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