Commencement of Process. The City shall commence the annual review process by notifying Developer in writing at least forty-five (45) days prior to the anniversary of the Effective Date each year that the annual review process shall commence as specified in Section 5.1. Failure of the City to send such notification shall be deemed to extend the time period in which annual review is required until at least forty-five (45) days after such notice is provided. City’s failure to perform an annual review pursuant to the terms of this Article 5 shall not constitute or be asserted as a default by Developer.
Appears in 2 contracts
Sources: Development Agreement, Development Agreement