Common use of Conditions Precedent to Reimbursements Clause in Contracts

Conditions Precedent to Reimbursements. Developer hereby understands and agrees that it shall not receive any reimbursements for Eligible Expenses from Pay-As-You- Go CID Financing unless and until the conditions precedent set forth below have been fully satisfied as determined by City in its sole reasonable discretion: (a) City has approved Certificates of Expenditure for such CID Improvement (b) Construction of the Container Store described in Section 2.01(a) shall be completed, and the Container Store shall be fully stocked and opened for business for at least one day; (c) Construction of the Pocket Park as described in Section 2.01(f) shall be completed; and (d) Developer shall be in full compliance with the terms and conditions of this Agreement and shall not be in default hereunder, nor shall there be conditions, actions or omissions of Developer which will, with the passage of time, become occurrences of default hereunder.

Appears in 1 contract

Sources: Redevelopment Agreement

Conditions Precedent to Reimbursements. Developer hereby understands and agrees that it shall not receive any reimbursements for Eligible Expenses from Pay-As-You- Go CID Financing unless and until the conditions precedent set forth below have been fully satisfied as determined by City in its sole reasonable discretion:: Costs; (a) City has approved Certificates of Expenditure for such CID Improvement (b) Construction of the Container Store described in Section 2.01(a) shall be completed, and the Container Store shall be fully stocked and opened for business for at least one day; (c) Construction of the Pocket Park as described in Section 2.01(f) shall be completed; and (d) Developer shall be in full compliance with the terms and conditions of this Agreement and shall not be in default hereunder, nor shall there be conditions, actions or omissions of Developer which will, with the passage of time, become occurrences of default hereunder.

Appears in 1 contract

Sources: Redevelopment Agreement