EDC definition
Examples of EDC in a sentence
In the event, Developer defaults and is unable or unwilling to cure said default within the prescribed time period, the amounts provided by EDC to Developer pursuant to Section 5 of this Agreement shall become immediately due and payable by Developer to EDC.
In no event shall the reimbursement provided by EDC to Developer exceed Twenty-Five Thousand and No/100 Dollars ($25,000.00).
Upon execution and Effective Date of this Agreement, Developer shall be entitled to reimbursement from the EDC for Qualified Expenditures made to the Property in the amount not to exceed the lesser of Twenty-Five Thousand and No/100 Dollars ($25,000.00) or fifty percent (50%) of the aggregate amount of invoices, receipts, or other documentation submitted by the Developer to EDC.
If the EDC has made any commitment to make any financial disbursement to Developer, whether under this Agreement or under any other agreement, the EDC shall have no obligation to advance or disburse any financial assistance if: (i) Developer becomes insolvent, files a petition in bankruptcy or similar proceedings, or is adjudged bankrupt; or (ii) an Event of Default occurs.
Developer shall submit to the EDC invoices, receipts, or other documentation acceptable to the EDC prior to any reimbursement.