Equitable Contribution definition
Equitable Contribution means the reasonable cost of services contributed to a Joint Trail Project by one party, to perform work that would otherwise be the responsibility of the other party to this Agreement. An Equitable Contribution shall be mutually agreed in advance by both parties hereto. The parties both desire to look for opportunities for equitable contributions of services to each Joint Trails Project throughout the term of the Joint Trails Project, with the goal of achieving improved efficiency and/or cost savings. Each party agrees on an annual basis to reconcile the Equitable Contributions made by each party to all of the Joint Trails Projects, as further provided in section 3.e. hereto." The initial equitable contribution plan signifies the proposed Equitable Contributions of each party during the first year of the term of the Joint Trails Project Plan and Agreement, if any. City's contribution toward Recreational Improvements (see Exhibit 2) benefits Valley Water, City and the community at large. - City has secured a $5,256,000 Active Transportation Program (ATP) grant to fund the design and construction of the project. - City is contributing $3,927,600 toward the design and construction of the Joint Trails Project. - Valley Water is contributing 27,500 SF of land. City’s use of this land is not covered by the CAP and Parties agree through this agreement that City will identify 27,500 SF of City owned land for use by Valley Water for mitigation and flood control purposes associated with and in locations that benefit the CCFPP. This transaction will be documented as part of the agreement that will be needed to facilitate construction of the CCFPP elements that are proposed on City land. Valley Water’s contribution towards development of the Recreational Improvements benefits City and the community at large, while supporting a partial improvement for Valley Water to access the site. Valley Water lands contributed represent significant public value and are essential open space assets and space to construct the pedestrian bridge that benefit both City and the community at large. The land provided for public access and open spaces substantially reduces City's right-of-way acquisition costs for the proposed Project. This Joint Trails Project helps Valley Water achieve its policy of providing appropriate and equal public access to Valley Water’s streamside and watershed lands. City’s use of Valley Water land for the Project will negatively impact the CCFMMP by limiting it...
Equitable Contribution means all Liabilities of Seller undertaken in the GenAm/Equitable Settlement Agreement in consideration for the payment of $2,000,000 by Equitable at Closing pursuant to, and in accordance with, the GenAm/Equitable Settlement Agreement.
Examples of Equitable Contribution in a sentence
The parties shall enter into written amendments to this Agreement to identify any mutually agreed upon areas of Equitable Contribution.