MIF Loan/Grant. The MIF Grant will be used by the City to make a loan to the Borrower of not more than $250,000 for the purchase of machinery, equipment, and tenant improvements. The City’s obligations under this Agreement are expressly contingent on the City’s receipt of funds from the Grantor Agency in an amount adequate to make the Loan.
Appears in 2 contracts
Sources: Loan Agreement, Loan Agreement (Biovest International Inc)