Threshold Grant Criteria. In order for the Owners to receive the 380 Grant described in Article VI, the following are required; (i) Owners complete and obtain the Certificate of Occupancy for the Initial Commercial Space on or before the Performance Deadline, (ii) the Owners complete and obtain City acceptance of 35% ($3,150,000) of the Eligible Infrastructure; and (iii) the Owners shall be in compliance with Sections V.B-C. City acknowledges that Owners intend to develop the Property in phases and complete the Eligible Infrastructure in phases. Until such time as the Eligible Infrastructure is completed in full, Owners are limited to rebates not to exceed the Interim Maximum Grant Amount.
Threshold Grant Criteria. The following events must occur for the Company to receive the Chapter 380 Xxxxx described in Article V:
