Disposition Conditions Clause Samples

Disposition Conditions. ‌ Subject to City and Escrow Agent executing escrow instructions consistent with the requirements of this Agreement, City’s obligation to close Escrow on the Site shall be conditional and contingent upon the satisfaction, or waiver by City in its sole and absolute discretion, of each and all of the following conditions (collectively, the “City Disposition Conditions”): a. Developer shall have delivered to Escrow Agent (i) City Regulatory Agreement, (ii) Notice of Affordability Restrictions, and (iii) Memorandum of Ground Lease, all duly executed and acknowledged by Developer for recordation, and Escrow Agent shall have recorded, or shall record, each of the same. b. Developer shall have obtained all of the Project Entitlements for the development of the Project on the Site in accordance with this Agreement. c. Developer shall have processed through City a parcel map that established the Site as a separate legal parcel, subject to easements for public egress, access and parking.‌ Project on the Site. City Ground Lease. d. Developer has obtained permits for grading and building for the e. Developer shall have executed and delivered to Escrow Agent the f. Developer shall have submitted to the City Manager the evidence of insurance required pursuant to Section 3.5 of this Agreement. g. Developer shall have delivered to the City Manager the financial statements and other documents required by Section 2.1.5 herein, and the City Manager shall have approved the same (such approval not to be unreasonably withheld or delayed). h. Developer shall have obtained and delivered to the City Manager conditional financing commitment letters for all of the financing set forth in the Project Budget outlining the financial terms, conditions and requirements of an investment in or loan to the Developer’s limited partnership in the forms required by TCAC pursuant to its tax credit application. i. Developer has closed on the Construction Loan and all of the construction financing set forth in the Project Budget; or, concurrent with the Close of Escrow, Developer will close on the Construction Loan and all of the construction financing set forth in the Project Budget. Title Policy.‌ j. The Title Company shall be irrevocably committed to issue the City k. No administrative action/quasi-judicial proceeding or litigation has been filed or is pending or will be pending as of the Close of Escrow. l. Each of Developer’s representations and warranties contained in this Agreement are true a...
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Related to Disposition Conditions

  • Termination Conditions This Agreement terminates upon the earlier of any of the following events: a.

  • Prior Conditions Satisfied All conditions set forth in §10 shall continue to be satisfied as of the date upon which any Loan is to be made or any Letter of Credit is to be issued.

  • Test conditions 6.1.1. The test shall be performed on a flat, dry concrete or asphalt surface affording good adhesion. 6.1.2. The ambient temperature shall be between 0°C and 45°C. 6.1.3. The horizontal visibility range shall allow the target to be observed throughout the test.

  • Actions to Satisfy Closing Conditions Each Party shall take all actions as are within its power and otherwise use its commercially reasonable efforts so as to ensure compliance with the conditions set forth in this Section 6.

  • SUPERIOR CONDITIONS 21.01 All existing benefits, rights, privileges, practices, terms or conditions of employment which may be considered to be superior to those contained herein and which are set out in Appendix 4 are specifically retained by this Agreement unless otherwise agreed by the local parties. The parties agree to remove from Appendix 4 those superior conditions which no longer have application. Where the parties cannot agree on whether a superior condition continues to have application, the issue will be reduced to a grievance and referred to arbitration. 21.02 The Union and the Participating Hospitals agree to establish a committee consisting of two (2) representatives of the Union and two (2) representatives of the Participating Hospitals to review the superior conditions appendices in each of the participating hospitals. This committee will report to their respective negotiating committees prior to the next round of central negotiations.