Common use of Implementation Agreements Clause in Contracts

Implementation Agreements. (a) The MIDP will address the principal commercial terms for the potential implementation of the MIDP. The main agreements between the Parties to implement the MIDP are referred to herein as the “Principal Implementation Agreements.” Waterfront Toronto and Sidewalk Labs will seek to finalize the Principal Implementation Agreements in connection with, and subject to, the receipt of approvals necessary to proceed. (b) The Parties acknowledge that other agreements may be required in connection with the Project from time to time (the “Future Implementation Agreements”). The Principal Implementation Agreements and Future Implementation Agreements shall be referred to together as the “Implementation Agreements.” (c) The Implementation Agreements will include, among other things, customary commercial terms that are mutually acceptable to the Parties and provide appropriate and reasonable comfort regarding the satisfaction of each Party’s obligations.