Common use of Third Party Debt Clause in Contracts

Third Party Debt. The Commission acknowledges that Developer's funding sources for the construction and completion of the Project may include third party debt from Developer's Lender, and the Commission agrees to make commercially reasonable accommodations to such Lender for Developer to obtain such debt, including, without limitation, granting such third party written notice and a reasonable right to cure any failure of Developer to perform its obligations under this Agreement prior to exercising the Commission's Repurchase Right. The provisions of this Section 5.2 shall survive the termination of this Agreement or the Closing, and at the request of either party shall be memorialized in a recordable document.

Third Party Debt. The Commission acknowledges that Developer's funding sources for the construction and completion of the Project may include third party debt from Developer's Lender, and the Commission agrees to make commercially reasonable accommodations to such Lender for Developer to obtain such debt, including, without limitation, granting such third party written notice and a reasonable right to cure any failure of Developer to perform its obligations under this Agreement prior to exercising the Commission's Repurchase Right. The provisions of this Section 5.2 shall survive the termination of this Agreement or the Closing, and at the request of either party shall be memorialized in a recordable document.

Third Party Debt. The Commission acknowledges that Developer's funding sources for the construction and completion of the Project may include third party debt from Developer's Lender, and the Commission agrees to make commercially reasonable accommodations to such Lender for Developer to obtain such debt, including, without limitation, granting such third party written notice and a reasonable right to cure any failure of Developer to perform its obligations under this Agreement prior to exercising the Commission's Repurchase Right. The provisions of this Section 5.2 shall survive the termination of this Agreement or the Closing, and at the request of either party shall be memorialized in a recordable document.