Examples of Extended Outside Date in a sentence
In the event that Developer is awarded the LIHTCs that are necessary under the Financing Plan by the Extended Outside Date (or such longer period if Owner and Developer mutually decide not to terminate this Agreement if LIHTCs are not awarded by such date) , the Developer shall reimburse Owner for: (A) the One Hundred Thousand Dollars ($100,000.00) paid by the County in connection with the preparation of the Site Plan under the Interim Agreement.
The period between the Outside Date and Extended Outside Date shall be referred to herein as the “Tolling Period”.
In the event Developer is not awarded the LIHTCs before the Extended Outside Date, Section 9.01 shall apply.
If Developer is awarded such LIHTCs on the Extended Outside Date, the Development Schedule, and all dates set forth therein, shall be reset on day-for-day basis as the Tolling Period.
Upon the effectiveness of the Extension, a fee equal to one percent (1.00%) of the sum of the Lender’s Commitments, whether drawn or undrawn, available on the first day of the Extension (the “Extension Fee”) shall accrue; however, such Extension Fee shall be payable on the Extended Outside Date.