(c) the Project must be financially viable from a construction and operating cost perspective based on Recipient confirmation;
(d) the Project must meet current Ontario Building Code requirements;
(e) the completed Project must comply with the Program Guidelines; and
(f) the Recipient must have a plan in place to ensure that the Project will be used for its Intended Use for the entire Intended Use Period.
4. Conditional Letter of Commitment. If the Province approves the Project, the Province shall advise the Recipient of the approval and provide the Recipient with a Conditional Letter of Commitment.
5. Changes. The Recipient shall advise and request approval from the Province for any changes to the Project(s) which may affect how the Project will be used.
6. Contribution Agreement. Following the approval of each Project by the Province, the Recipient shall, where a Proponent other than the Recipient will own the Project, arrange for an appropriate form of Contribution Agreement with the Proponent to be executed.
7. Funding Conditions.
ensure that the Proponent has disclosed all of its creditors, debt and the proposed construction, acquisition, rehabilitation and/or conversion costs in full; and
confirm to the Province the source and availability of adequate ongoing funding for any acquisition of property or Development Activities for the Project and the support services that will be made available to the public through the Project once complete.
complete the construction of the approved Project within construction budgets and financing approved by the Recipient and required timelines;
ensure that until construction of the approved Project is complete (i) all claims for lien registered against the Project(s) are promptly vacated, (ii) the Proponent does not incur any additional construction financing, capital