Reasonable estimates. The Agency and Developer acknowledge and agree that the first Annual Agency Budget and each Annual Agency Budget thereafter will contain their reasonable estimate of the Agency Costs that will be incurred during the applicable period. The Agency and Developer shall use their respective good faith efforts to cause the Agency Costs not to materially exceed the amounts set forth in each Annual Agency Budget or materially accelerate the period during which such Agency Costs are incurred.
Appears in 2 contracts
Sources: Disposition and Development Agreement (Five Point Holdings, LLC), Disposition and Development Agreement