Common use of Type of Reimbursement Clause in Contracts

Type of Reimbursement. Subdivider shall be entitled to cash reimbursement, or FBA credits, for the Reimbursable Costs expended by Subdivider and approved by City in accordance with this Agreement and the Financing Plan. The Financing Plan currently has the Estimated Cost scheduled for reimbursement beginning in or after Fiscal Year 2010. Any changes to the timing of reimbursement shall be reflected in future updates to the Financing Plan without further amendment to this Agreement. Subdivider shall not receive cash reimbursement unless and until there are sufficient funds to reimburse Subdivider, in whole or in part, from the FBA. If sufficient funds are unavailable in the FBA, City shall reimburse Subdivider only if and as funds accrue in the FBA for the Project. Where FBA credits are requested and approved by City, credit reimbursement shall be made in accordance with the schedule in the Financing Plan. Subdivider acknowledges and agrees that in the event there are no additional FBA funds available for collection by City to fund this Project, Subdivider shall not be reimbursed by City for any portion of Subdivider’s outstanding Project costs or expenditures, and Subdivider expressly agrees to fully absorb all such outstanding costs without any reimbursement from City.

Type of Reimbursement. Subdivider Developer shall be entitled to cash reimbursement, reimbursement or FBA credits, DIF credits for the Reimbursable Costs expended by Subdivider Developer and approved by City in accordance with this Agreement and the Financing PlanPlan and in an amount not to exceed the Maximum Funds. The Financing Plan Downtown DIF fund currently has the Estimated Cost scheduled Maximum Funds available for reimbursement beginning in or after Fiscal Year 20102015. Any changes to the timing of reimbursement shall be reflected in future updates to the Financing Plan without further amendment to this Agreement. Subdivider Developer shall not receive cash reimbursement unless and until there are sufficient funds to reimburse SubdividerDeveloper, in whole or in part, from DIF funds available for the FBAPlaza Project. If sufficient funds are unavailable in the FBAunavailable, City shall reimburse Subdivider Developer only if and as DIF funds for the Plaza Project accrue in the FBA for the ProjectDowntown DIF fund. Where FBA DIF credits are requested and approved by City, credit reimbursement shall be made in accordance with the schedule in the Financing Planmade. Subdivider Developer acknowledges and agrees that in the event there are no additional FBA funds DIFs available for collection by City to fund this the Plaza Project, Subdivider Developer shall not be reimbursed by City in cash for any portion of SubdividerDeveloper’s outstanding Project costs or expenditures, and Subdivider Developer expressly agrees to fully absorb all such outstanding costs or expenditures without any cash reimbursement from City, but Developer retains the right to request DIF credits for such outstanding cost or expenditures in an amount not to exceed the Maximum Funds.