Delay in Completion of Development Milestones Sample Clauses

Delay in Completion of Development Milestones. Where the development and construction, as the case may be is commenced by the Lessee as per terms of the Agreement after obtaining development and/or building construction permission but fails to achieve the Development Milestones in stipulated time as per Schedule IV for any reason other than Force Majeure/NRANVP Event of Default/non fulfilment of obligations by Authority, the extension in time shall be provided in prorated (Phase wise) manner for the completion of the work and extension may be granted by the Chief Executive Officer, subject to payment of surcharge by the lessee as per the provision of the ''Chhattisgarh Xxxxxxx Kshetra (Xxxxx Xxxxxxxx ka Vyayan) Niyam, 2008" which is subject to revision by Authority from time to time. The present provision is as follows: —: Block of Time Extension Period of Extension Amount of surcharge as Percentage of the Land Premium First Twelve months or part thereof Five Second Twelve months or part thereof after the First extension of time Seven Third Twelve months or part thereof after the Second extension of time Ten
Sample 1See All (6)
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Delay in Completion of Development Milestones. Where the development and construction, as the case may be is commenced by the Lessee as per terms of the Agreement after obtaining development and/or building construction permission but fails to achieve the development milestones in stipulated time as per Schedule 4 for any reason other than Force Majeure/NRDA Event of Default/non fulfilment of obligations by Authority, the extension in time shall be provided in prorated (Phase wise) manner for the completion of the work and extension may be granted by the chief executive officer on payment of following prorated surcharge by the Lessee: Penalties for not achieving Development Milestones: Timeline Phase Project Milestone Extension (6 months each) Amount of surcharge as percent of the accepted land premium (INR per Sq.m) The Developer/Lessee shall construct Extension 1 2.50 3 Years from Signing of Lease cum Development Agreement Phase 1 minimum 30% of the minimum Built- up area available within three years from the date of Lease cum Development Agreement. Extension 3 5.00 The Developer/lessee shall Extension 1 2.50 5 Years from Signing of Lease cum Development Agreement Phase 2 construction 100% of the maximum Built-up area available for the Dwelling Units within Five Years from the date of Lease cum Development Extension 3 5.00 Agreement.
Sample 1
Delay in Completion of Development Milestones. Where the Licensee 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 due to unavoidable circumstances, 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 Licensee, as the case may be, specified in the table below: Timeline Project Milestone Extension Period of time Amount of surcharge as percent of the land premium (%) 5 Years from the date of issuance of NoA The Lessee/ Licensee shall construct and complete 100% of permissible Built- up area as per minimum FAR in all respect on Project Site and fully operationalize the Project within 5 (five) years from date of issue of Notice of Allotment. 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
Sample 1
Delay in Completion of Development Milestones. Where the development and construction, as the case may be is commenced by the Licensee as per terms of the Agreement after obtaining development and/or building construction permission but fails to achieve the Development Milestones in stipulated time as per Schedule IV for any reason other than Force Majeure/NRANVP Event of Default/non fulfilment of obligations by Authority, extension may be granted by the Chief Executive Officer, subject to payment of surcharge by the licensee as per the provision of the ''Chhattisgarh Xxxxxxx Kshetra (Xxxxx Xxxxxxxx ka Vyayan) Niyam, 2008" which is subject to revision by Authority from time to time. The present provision is as follows:: Timeline Project Milestone Amount of surcharge as percent of the accepted land premium of INR per Sqm First Twelve month or part thereof 5% Second Twelve months or part thereof after the first extension of time 7% Third Twelve months or part thereof after the second extension of time 10%
Sample 1
Delay in Completion of Development Milestones. Where the lessee 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 due to unavoidable circumstances, the extension in time for the completion work may be granted by the Chief Executive Officer on payment of surcharge by the lessee, 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 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
Sample 1
Delay in Completion of Development Milestones. Where the development and construction, as the case may be is commenced by the Lessee as per terms of the Agreement after obtaining development and/or building construction permission but fails to achieve the Development Milestones in stipulated time as per Schedule 4 for any reason other than Force Majeure/NRDA Event of Default/non fulfilment of obligations by Authority, the extension in time shall be provided in prorated (Phase wise) manner for the completion of the work and extension may be granted by the chief executive officer on payment of following prorated surcharge by the Lessee: Penalties for not achieving Development Milestones: Timeline Phase Project Milestone Duration of each Extension (2.4 months) Amount of surcharge as Percent of the Land Premium for the Project 3 Years from Signing of Lease cum Development Agreement Phase 1 Complete construction and commence operation of 100 Bed Hospital Extension 1 1 % Extension 2 1.4 % Extension 3 2 % 5 Years from Signing of Lease cum Development Agreement Phase 2 Complete construction and commence operation of 250 Bed Hospital Extension 1 1% Extension 2 1.4% Extension 3 2 % 6 Years from Signing of Lease cum Development Agreement Phase 3 Commence construction of Medical college as per the standards of MCI at least for 50 admissions Extension 1 1% Extension 2 1.4% Extension 3 2 % 7 Years from Signing of Lease cum Development Agreement Phase 4 Complete construction, obtain completion certificate from NRDA and commence operation of 500 Bed Hospital Extension 1 1% Extension 2 1.4% Extension 3 2 % 9 Years from Signing of Lease cum Development Agreement Phase 5 Complete construction of Medical college as per the standards of MCI at least for 50 admissions and obtain completion certificate from NRDA Extension 1 1% Extension 2 1.4% Extension 3 2 %
Sample 1
Delay in Completion of Development Milestones. Where the development and/or construction, as the case may be is commenced by the Lessee as per terms of the Agreement after obtaining development and/or building construction permission but fails to achieve any of the development milestones in stipulated time as per Schedule 6, the extension in time shall be provided manner for the completion of the work and extension may be granted by the chief executive officer, NRANVP on payment of following surcharge by the Lessee. Penalties for not achieving Development Milestones: Block of Time Extension Period of Extension Amount of surcharge as Percentage of the Reserve Land Premium Prevailing at that time shall be levied First Twelve months or part thereof Five Second Twelve months or part thereof after the First extension of time Seven Third Twelve months or part thereof after the Second extension of time Ten Provided that the extension in time shall be granted for Twelve months or its part only at one time and such extension shall be granted maximum for Three years from the Scheduled Completion Date. The surcharges applicable for extension of timeline for commencement of the project, for achieving the Development Milestones and delay in payment of Land Premium/ Annual Lease Rental shall be paid by the lessee in the form of Demand Draft in favour of Chief Executive Officer, Xxxx Raipur Xxxx Nagar Vikas Pradhikaran, payable at Raipur/Xxxx Raipur Xxxx Nagar.
Sample 1
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Delay in Completion of Development Milestones. Where the development and construction, as the case may be is commenced by the Lessee as per terms of the Agreement after obtaining development and/or building construction permission but fails to achieve the development milestones in stipulated time as per Schedule 7 for any reason other than Force Majeure/NRDA Event of Default/non fulfilment of obligations by Authority, the extension in time shall be provided in prorated (Phase wise) manner for the completion of the work and extension may be granted by the chief executive officer on payment of following prorated surcharge by the Lessee: Penalties for not achieving Development Milestones: Timeline Phase Project Milestone Extension (6 months each) Amount of surcharge as percent of the land premium Extension 1 2.50 1.Constructed 9 hole golf course along with allied Infrastructure as 3 Years from per Schedule 7 and; 2.Constructed minimum 15,000 Extension 2 3.50 Signing of Lease Sq. ft. built-up area for the cum Phase 1 development of Club House Cum Development Sports Complex and with allied Agreement Infrastructure as per Schedule 7 and; 3.Constucted Driving Range up to Extension 3 5.00 100% of the Capacity 1.Constructed 18 hole golf course Extension 1 2.50 along with allied Infrastructure as per Schedule 7 and; 5 Years from Signing of Lease cum Development Agreement Phase 2 2.Constructed minimum 30,000 Sq. ft. built-up area for the development of Club House Cum Sports Complex and with allied Infrastructure as per Schedule 7 and; Extension 2 3.50 3.Complete the project as per Schedule 7 and obtain completion Extension 3 5.00 certificate from the Authority
Sample 1
Delay in Completion of Development Milestones. Where the development and construction, as the case may be is commenced by the Lessee as per terms of the Agreement after obtaining development and/or building construction permission but fails to achieve the Development Milestones in stipulated time as per Schedule IV for any reason other than Force Majeure/NRANVP Event of Default/non fulfilment of obligations by Authority, the extension in time shall be provided in prorated (Phase wise) manner for the Provided that the extension in time shall be granted for Twelve months or its part only at one time and such extension shall be granted maximum for three years
Sample 1

Related to Delay in Completion of 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.

  • Completion of Development Upon the completion of the whole development or complete phases of the development, Council may review this Agreement, in whole or in part, and may:

  • 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:

  • 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):

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

  • Commencement, Prosecution, and Completion of Work The Contractor will be required (a) to commence the Work under this Contract on the applicable Proceed Order Date, (b) to prosecute the Work with faithfulness and energy (c) to install the various parts of the work with equal steps shown on the Overall Project Schedule and at the same rate (or better) shown on the Overall Project Schedule and (d) to complete the Work within the Contract Time, as adjusted. Commencement of the Work shall mean actual physical work on the Site. Unless otherwise agreed, and subject to Change Orders, Material Completion of the Project must be achieved on or before the date established as the Material Completion and Occupancy Date under the Schedule.

  • Commencement and Completion of Work Upon the Effective Date of the Contract, bidder agrees to commence all Preconstruction Activities. Upon issuance of a Proceed Order, bidder agrees to commence physical activities on the Site with adequate forces and equipment and to complete to Material Completion all work in 90 consecutive calendar days beginning the day after the date of the Proceed Order. Bid Bond. Enclosed herewith is a Bid Bond (NO OTHER FORM ACCEPTABLE) in the amount of Dollars ($ ) (being not less than five percent of the Bid). Bidder agrees that the above stated amount is the proper measure of liquidated damages that the Owner will sustain by bidder’s failure to execute the Contract or to furnish the Performance and Payment Bonds should bidder’s bid be accepted. Obligation of Bid Bond. If this bid is accepted within thirty-five days after the date set for the opening of bids and bidder fails to execute the Contract within ten days after Notice of Successful Bid, or if bidder fails to furnish both Performance and Payment Bonds, the obligation of the Bid Bond will remain in full force and effect and the money payable thereon shall be paid into the funds of the Owner as liquidated damages for such failure; otherwise, the obligations of the Bid Bond will be null and void. Bidder Certification Certification under Oath. Under oath I certify that I am a principal or other representative of the bidder, and that I am authorized by it to execute the foregoing bid on its behalf; and further, that I am a principal person of the bidder with management responsibility for the construction for the bidder, and as such I am personally knowledgeable of all its pertinent matters. I further certify that this bid is made without prior understanding, agreement, or connection with any corporation, firm, or person submitting a bid for the same services, materials, labor, supplies, or equipment and is in all respects fair and without collusion or fraud. Bidder and its principals understand that collusive bidding is a violation of state and federal law and can result in fines, prison sentences, and civil damage awards. Bidder agrees to abide by all conditions of this bid. BY: Authorized Signature (BLUE INK) Printed Name Title Sworn to and subscribed before me this Day of , 20 . Notary Public My commission expires:

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