Common use of CONTROL OVER MATTERS RELATED TO INFRASTRUCTURE Clause in Contracts

CONTROL OVER MATTERS RELATED TO INFRASTRUCTURE. Notwithstanding anything to the contrary herein, WPHC shall have sole and exclusive control over all decisions of the Company relating to the sale, financing, construction and development of the Infrastructure. In connection with the financing of the Infrastructure and as directed by WPHC, the Company shall cause the Land to be included within a special assessment district or similar district in connection with the financing of the Infrastructure and/or shall cause the Project to be subject to special assessments, general assessments and/or consensual liens. In addition, the Company shall enter into such agreements as WPHC may require, which agreements obligate the Company to pay or reimburse the costs of operating and maintaining the Infrastructure.

Appears in 2 contracts

Sources: Operating Agreement (Wellsford Real Properties Inc), Operating Agreement (Wellsford Real Properties Inc)