Common use of Net Public Benefit Clause in Contracts

Net Public Benefit. Each Project agreed to by the Parties under this ARTICLE 6 shall have a Net Public Benefit determined by the applicable Parties consistent with Exhibit “B” hereto and such other terms, conditions and principles as such parties may mutually agree prior to entering into the Ancillary Agreements relating thereto, exclusive of any other Projects entered into by the Parties under the terms of this Agreement, and the amount of Net Public Benefit for a particular Project shall be determined annually subject to Section 2.3. Prior to the execution of any future Ancillary Agreement, the State Entity seeking such Project shall cause to be performed an independent review of the anticipated Project Benefits and State Investment for such Project to confirm that (a) the State Investment for such Project will be for a public purpose that comports with the governmental purpose for which the State Entity has the legal authority to pursue, (b) the anticipated value of the benefits of the Project to the State and its citizens will exceed the value of the State Investment undertaken for the Project so that all expenditures by the State Entity will not be gratuitous donations and (c) the State Entity will have a demonstrable, objective and reasonable expectation of receiving at least equivalent value in exchange for the State Investment for the Project. Such review shall be attached to and become part of the applicable future Ancillary Agreement.