Special provisions for Joint Ventures Sample Clauses

Special provisions for Joint Ventures. In the case of joint ventures, Landlord is committed to compliance with 49 CFR Part 23, the Joint Venture Guidance issued by the Federal Aviation Administration (the “FAA”) in July 2008, and any future guidance or regulations issued by the FAA. Tenant shall ensure, to the best of its ability that any joint venture agreement submitted complies with the regulation and guidance. In the event that Landlord determines that the joint venture agreement is not in compliance, Tenant shall either withdraw the joint venture application or work with the joint venture partners to address any deficiencies identified by the Landlord. The decision to accept any joint venture for ACDBE credit will be conditioned on the joint venture operating exactly as proposed, the submission of required quarterly reports, and the requirement for notification of any changes to the joint venture. ACDBE credit for any joint ventures shall be effective beginning on the date of approval by Landlord, as stated in the Landlord’s certification letter. In addition, Landlord will also monitor the joint venture and compliance with the Regulations, guidance, and these requirements.
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