Common use of SHARED OBJECTIVES Clause in Contracts

SHARED OBJECTIVES. (i) Both Waterfront Toronto and Sidewalk Labs are committed to a new, first of its kind, innovative approach to city-building that combines world-class urban design and cutting-edge technology in order to deliver transformative benefits in quality of life to a diverse set of city residents, workers and visitors. (ii) Both Parties believe in the potential for technology to improve urban life and to create people-centered communities that are more livable, connected, prosperous and resilient. (iii) Both Parties seek to establish a complete community that serves as a model for sustainable and resilient neighborhoods throughout Toronto and cities around the world. (iv) Both Parties aim to create a destination for people, companies, startups, and local organizations to advance solutions to the challenges facing cities, such as energy use, housing affordability, and transportation, and make Toronto the global hub of a rising new industry focused on urban innovation.