Selected Preliminary Project Sample Clauses

Selected Preliminary Project. Upon a Submitted Preliminary Project becoming a Selected Preliminary Project, the Pursuit Budget shall be deemed approved and APFC shall from time to time within ten (10) Business Days of receipt of written request, reimburse Aimco for the APFC Percentage Interest of the portion of the Pursuit Budget incurred to date by Aimco with respect to such Selected Preliminary Project. If APFC declines or is deemed to have declined Preliminary Approval of a Submitted Preliminary Project, then such Submitted Preliminary Project shall constitute a “Rejected Project”, but shall be offered again to APFC pursuant to Section 2.3.