Common use of Timing of Development Clause in Contracts

Timing of Development. Land Owner has no obligation to develop or to construct the Project. The timing, sequencing, and phasing of the Project is solely the responsibility of Land Owner in the exercise of its business judgment so long as it is consistent with Applicable Law. In particular, the Parties desire to avoid the result of Xxxxxx Construction Co. v. City of Camarillo (1984) 37 Cal.3d 465, where the failure of the parties therein to consider and expressly provide for the timing of the development resulted in a later adopted initiative restricting the timing of development to prevail over such parties' agreement. The Parties therefore acknowledge that Land Owner shall have the right to develop the Project at such time as Land Owner deems appropriate in the exercise of its business judgment so long as such development is consistent with Applicable Law.

Timing of Development. Land Owner has no obligation to develop or to construct the Project. The timing, sequencing, and phasing of the Project is solely the responsibility of Land Owner in the exercise of its business judgment so long as it is consistent with Applicable Law. In particular, the Parties desire to avoid the result of Xxxxxx Construction Co. v. City of Camarillo (1984) 37 Cal.3d 465, where the failure of the parties therein to consider and expressly provide for the timing of the development resulted in a later adopted initiative restricting the timing of development to prevail over such parties' agreement. The Parties therefore acknowledge that Land Owner shall have the right to develop the Project at such time as Land Owner deems appropriate in the exercise of its business judgment so long as such development is consistent with Applicable Law.v.