Delay in achieving Development Milestones Sample Clauses

Delay in achieving Development Milestones. Where the development and/or construction, as the case may be is commenced by the licensee as per terms of agreement after obtaining development and/or building construction permission but fails to achieve the development milestones in stipulated time as per Clause 2.2 above the extension in time for the completion of work may be granted by the Chief Executive Officer in prorated (Phase wise) manner on payment of the following prorated surcharge by the licensee: Timeline Phase Project Milestone Extension (6 months each) Amount of surcharge as percent of the land premium The Developer/licensee shall construct Extension 1 2.50 3 Years from Signing of Development Agreement Phase 1 minimum 30% of the maximum Built-up area available within three years from the date of Development Agreement. Extension 2 3.50 Extension 3 5.00 The Developer/licensee shall Extension 1 2.50 5 Years from Signing of Development Agreement Phase 2 construction 100% of the maximum Built-up area available for the Dwelling Units within Five Years from the date of Development Extension 2 3.50 Extension 3 5.00 Agreement. If development of the Project is not completed within such extended period as described above, then it shall be treated as Developer's Event of Default.
Sample 1
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Delay in achieving Development Milestones. Where the Developer has commenced development and/or construction, as the case may be, after obtaining development and /or building construction permission but fails to complete the work, within time specified by the authority in the tender documents, the extension in time for the completion of work may be granted by the Chief Executive Officer on payment of surcharge by the Developer, as the case may be, specified in the table below: Block of time extension Period of time Amount of additional surcharge as percent of the Development Premium First Twenty-four months or part thereof Five Second Twenty-four months or part thereof after the First extension of time. Fifteen Third For such period as decided by the Authority after the Second extension of time Thirty If development of the Project is not completed within such extended period as described above, then it shall be treated as Developer's Event of Default.
Sample 1

Related to Delay in achieving Development Milestones

  • Development Milestones In addition to its obligations under Paragraph 7.1, LICENSEE specifically commits to achieving the following development milestones in its diligence activities under this AGREEMENT: (a) (b).

  • Project/Milestones Taxpayer develops and manufactures various products for use in the defense, aerospace and security industries. In consideration for the Credit, Taxpayer agrees to expand its operations at various locations throughout California, including El Segundo, Redondo Beach, Palmdale, Sunnyvale, Woodland Hills, Azusa and Rancho Xxxxxxxx. As part of its expansion, Taxpayer will invest in manufacturing equipment, computer and electrical equipment and make tenant improvements to the above facilities. Additionally, Taxpayer will hire full-time employees as part of its expansion (collectively, the “Project”). Further, Taxpayer agrees to satisfy the milestones as described in Exhibit “A” (“Milestones”) and must maintain Milestones for a minimum of three (3) taxable years thereafter. In the event Taxpayer employs more than the number of Full- time employees, determined on an annual full-time equivalent basis, than required in Exhibit A, for purposes of satisfying the “Minimum Annual Salary of California Full-time Employees Hired” and the “Cumulative Average Annual Salary of California Full-time Employees Hired,” Taxpayer may use the salaries of any of the Full-time employees hired and retained within the required time period. For purposes of calculating the “Minimum Annual Salary of California Full-time Employees Hired” and the “Cumulative Average Annual Salary of California Full-time Employees Hired,” the salary of any full-time employee that is not employed by the taxpayer for the entire taxable year shall be annualized. In addition, Xxxxxxxx agrees that any full-time employee hired after the effective date of this agreement that is a “qualified full-time employee” (as defined in RTC section 23636) shall be excluded from the calculation of the net increase of full-time employees required by this Agreement if Taxpayer claims the credit allowed by RTC section 23636.

  • Milestones Subject to the provisions of the SGIP, the Parties shall agree on milestones for which each Party is responsible and list them in Attachment 4 of this Agreement. A Party’s obligations under this provision may be extended by agreement. If a Party anticipates that it will be unable to meet a milestone for any reason other than a Force Majeure event, it shall immediately notify the other Parties of the reason(s) for not meeting the milestone and (1) propose the earliest reasonable alternate date by which it can attain this and future milestones, and (2) requesting appropriate amendments to Attachment 4. The Party affected by the failure to meet a milestone shall not unreasonably withhold agreement to such an amendment unless it will suffer significant uncompensated economic or operational harm from the delay, (1) attainment of the same milestone has previously been delayed, or (2) it has reason to believe that the delay in meeting the milestone is intentional or unwarranted notwithstanding the circumstances explained by the Party proposing the amendment.

  • Milestone A principal event specified in the Contract Documents including the Material Completion and Occupancy Date and other events relating to an intermediate completion date or time.

  • Critical Milestones (a) Subject to the provisions of Section 3.1(c), commencing on the Effective Date, Seller shall develop the Facility in order to achieve the following milestones (“Critical Milestones”) on or before the date set forth in this Section 3.1(a):

  • Project Specific Milestones In addition to the milestones stated in Section 212.5 of the Tariff, as applicable, during the term of this ISA, Interconnection Customer shall ensure that it meets each of the following development milestones:

  • Targets and Milestones You may choose to develop specific additional targets and milestones which assess your performance in ITT over time – particularly if ITT trainees make up a significant proportion of your overall student body. Alternatively, you may have targets and milestones in your existing 2012-13 access agreement which you now also wish to apply to undergraduate and/or postgraduate ITT trainees. These targets may be statistical – based on how representative your entrants are and/or your retention performance – and might include annual or interim milestones to help you monitor whether you are making progress. You may wish to include criteria around the numbers of trainees in receipt of a full or partial maintenance grant, as financial data will need to be collected to determine bursary support and the data will also be accessible through the Student Loans Company for HEBSS subscribers. You may also wish to consider the TDA guidance at Annex C which gives information on specific groups that are Annex A underrepresented in the teaching profession. In this section, please state whether you intend to develop additional targets and milestones, or the extent to which you intend to use targets and milestones in your existing agreement which you now wish to extend to apply to undergraduate and/or postgraduate ITT trainees. Where you have new or amended milestones and targets, you should set these out in your Excel template (Annex B) at Table 6. The University of Cambridge does not intend to adjust its current targets or to develop additional targets and milestones for its ITT provision. The number of students on the PGCE programme amount to less than 4% of the total population of Cambridge students with which the Office for Fair Access is concerned, and all of those students have already experienced a first taste of higher education. It would therefore be disproportionate to set specific aims and objectives for this group.

  • Milestone schedule Please state the status and progress of each Milestone and identify any completed Milestone(s) for the previous calendar quarter.

  • Table 7b - Other milestones and targets Reference Number Select stage of the lifecycle Please select target type from the drop-down menu Description (500 characters maximum) Is this a collaborative target? Baseline year Baseline data Yearly milestones (numeric where possible, however you may use text) Commentary on your milestones/targets or textual description where numerical description is not appropriate (500 characters maximum)

  • SCHEDULE AND MILESTONES The planned major milestones for the activities for this Annex defined in the "Responsibilities" Article are as follows:

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