Changes to Development Plans Clause Samples
The "Changes to Development Plans" clause defines the process and conditions under which modifications can be made to an existing development plan during a project. Typically, this clause outlines who has the authority to propose changes, the approval process required, and any documentation or notice obligations that must be met before changes take effect. For example, it may require both parties to agree in writing before altering project timelines, deliverables, or specifications. Its core function is to provide a clear, agreed-upon mechanism for adapting the project scope or approach, thereby minimizing disputes and ensuring that all parties remain aligned as circumstances evolve.
Changes to Development Plans. After Seller and Buyer have approved any of the Development Plans, Seller shall not make any material changes to such Development Plan without the prior written consent of Buyer, which consent shall not be unreasonably withheld or delayed. Notwithstanding the foregoing, Buyer shall not have the right to object to any change to a Development Plan required by a Governmental Authority; provided, however, if the required change has a material adverse effect on Buyer’s ability to construct single-family homes on the Lots or Buyer’s projected costs or revenues associated with its planned homebuilding operations, and Seller cannot cure the same to Buyer’s satisfaction within sixty (60) days of Buyer’s objection to the same (and any applicable Closing Date shall be extended if necessary to accommodate such cure period), Buyer may terminate this Agreement and the E▇▇▇▇▇▇ Money (or uncredited portion), less the Independent Consideration, shall be returned to Buyer.