Common use of Acquisition of Project Clause in Contracts

Acquisition of Project. (a) The Company hereby agrees to construct and acquire the Project, and to use commercially reasonable efforts to invest, in the aggregate and together with any Sponsor Affiliates, at least $25,000,000 of new investment in the County in the Project; provided, that a failure to meet such investment shall not result in an Event of Default hereunder, but shall have the consequences set forth below in Section 5.02 (d). In addition, the Company intends to create (but is not required to), in the aggregate and together with any Sponsor Affiliates, 119 new, full-time jobs. (b) Each year during the term of the Agreement, the Company shall deliver to the County Clerk to Council, County Auditor, County Treasurer, and County Assessor a copy of its most recent annual filings made with the Department with respect to the Project, not later than thirty (30) days following delivery thereof to the Department. (c) The Company shall cause a copy of this Agreement, as well as a copy of the completed form PT-443 of the Department, to be filed with the County Clerk to Council, the County Auditor, the County Assessor, the County Treasurer and the Department within thirty (30) days after the date of execution and delivery hereof.