Common use of Review of financing information Clause in Contracts

Review of financing information. The City’s Finance Officer will review and analyze the proposed financing terms in order to determine that the terms are reasonable and competitive with financing available in this area. If the Finance Officer finds that the financing terms are acceptable, s/he may approve the rate to be reimbursed under this Agreement. The Finance Officer’s approval will not be unreasonably withheld. If the Finance Officer rejects the proposed financing, the Developer may appeal the Finance Officer’s decision to the City Council. If the interest rate is renegotiated or otherwise changes, Developer agrees to solicit competitive interest rates from three or more lenders, which will be submitted to the City Finance Officer no less than 60 days prior to the refinancing being finalized.

Review of financing information. The City’s Finance Officer will review and analyze the proposed financing terms in order to determine that the terms are reasonable and competitive with financing available in this area. If the Finance Officer finds that the financing terms are acceptable, s/he may approve the rate to be reimbursed under this Agreement. The Finance Officer’s approval will not be unreasonably withheld. If the Finance Officer rejects the proposed financing, the Developer may appeal the Finance Officer’s decision to the City Council. If the interest rate is renegotiated or otherwise changes, Developer Xxxxxxxxx agrees to solicit competitive interest rates from three or more lenders, which will be submitted to the City Finance Officer no less than 60 days prior to the refinancing being finalized.