Contingencies for Grant Clause Samples

Contingencies for Grant. Triumph’s funding of the Grant is expressly contingent upon all of the following: 3.1 Grantee having by June 30, 2020, cash in hand or firm and enforceable commitments for funding covering the entire planning and construction cost of the Project. The estimated total planning and construction cost of the Project is $199,019,000, with the Grant being $64,100,000, so Grantee’s cash or other funding commitments must total at least $134,919,000 (the “Matching Funds”), of which (a) $38,953,000 has been committed by Grantee from the new local option sales tax revenues (approved in November 2018), TIF proceeds, and local option gas tax revenues, and (b) $95,966,000 is expected to be committed by the Florida Department of Transportation (FDOT). The FDOT funds shall be deemed to be committed only when (i) such funds are designated for the Project in FDOT’s 5 year work plan and approved and appropriated by the Florida Legislature, and

Contingencies for Grant. Triumph’s approval of the Grant is expressly contingent upon all of the following occurring concurrently with or prior to the execution of this Agreement: 3.1 The estimated total planning and construction cost of the entire Project is