Definition of East VillageTALUS Project Buildout Sample Clauses

Definition of East VillageTALUS Project Buildout. As described in Table 1 of Exhibit H-3, the balance of development in the East VillageTALUS Project after Phase I, up to the maximum of Allowable Development, is presently projected to consist of 300,000 additional Gross Square Feet of East VillageTALUS Project commercial office space, 50,000 Gross Square Feet of East VillageTALUS Project retail space, and 735 additional residential units. As with East VillageTALUS Project Phase I, because of changing market conditions and the actual development makeup of Phase I, the precise number of residential units in each density category, and the precise amount of commercial Gross Square Feet, actually to be developed after East VillageTALUS Project Phase I likewise cannot be known at present. Accordingly, in order to afford the Master Developer reasonable flexibility in developing the East VillageTALUS Project, the term “East Village“TALUS Project Buildout” as used in this Appendix H shall initially mean and refer to the kinds and amounts of land uses set forth in Table 1 of Exhibit H-3 for the balance of the East VillageTALUS Project after Phase I but shall also mean and refer to any amount of commercial office or retail Gross Square Feet and any number of residential units developed in the East VillageTALUS Project after Phase I that, together with Phase I, (i) do not exceed the Buildout Trip Ceiling, as defined below, and (ii) do not exceed the Allowable Development for the East VillageTALUS Project, in accordance with Section 9 (Allowable Development) and Section 10 (Conversion of Commercial to Residential) of this Agreement. As used in this Appendix H, “the Buildout Trip Ceiling” shall mean peak-hour trips projected for Buildout of the East VillageTALUS Project by a licensed transportation engineer, with the concurrence of the City, of not more than 603 p.m. peak-hour trips in to the East VillageTALUS Project and not more than 866 p.m. peak-hour trips out of the East VillageTALUS Project, for a total of not more than 1,469 p.m. peak-hour trips in and out for the entire East VillageTALUS Project (i.e., Phase I and the balance of development thereafter); provided, however, that “the Buildout Trip Ceiling” may include a projected increase of not more than 10% in either ceiling of 603 p.m. peak-hour trips in or of 866 p.m. peak-hour trips out of the East VillageTALUS Project, so long as the total projected number of p.m. peak-hour trips in and out of the East VillageTALUS Project Buildout does not exceed 1,469 p.m...
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