Examples of Additional Funding in a sentence
For the purposes of clarity, the Districts acknowledge that, if and to the extent School Fees increase over current rates, the amount of Additional Funding will be reduced accordingly such that the Project will not be required to pay any more than the Total Funding Amount.
The Additional Funding shall be adjusted starting on the later of two (2) years from the issuance of the first building permit for any Phase of the Project or June 30, 2022 (“Date of Adjustment”), and on each annual anniversary of the Date of Adjustment, based on the Engineering News-Record construction cost index for San Francisco, California for the prior year (“CCI”).
In addition to the School Fees, the Developer shall pay the Additional Funding due for each of the First Residential Phase and the Second Residential Phase at the time of issuance of the first building permit for each such Phase, as set forth and adjusted below.
The Additional Funding, however, will be reduced by the amount of School Fees paid for the Office Phase.
The pro-rata share of the Additional Funding for the First Residential Phase is thirty-four-point six percent (34.6%).