Developer Contingencies Sample Clauses

Developer Contingencies. The Developer’s obligations to continue through the various stages of development are as follows:
Sample 1
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Developer Contingencies. Developer agrees and understands that this Agreement does not, and the Town Manager and the Town Council have no authority to, guarantee or agree that the following contingencies will be met, as these contingencies are dependent upon the decisions of the Town’s land use boards. Neither the Council nor this Agreement have any influence over the decisions of the land use boards, and the Town Council makes no recommendation whatsoever to the land use boards, regarding the contingencies below. i. Developer obtaining final approval, after exhaustion of all appeal periods pursuant to RSA 677 from the Merrimack Zoning Board of Adjustment and the Merrimack Planning Board for six (6) additional subdivision lots above what is shown on the Plan, with said final approvals occurring no later than March 31, 2020. ii. The last sentence of “Note 10” on the approved Cluster Subdivision Plan being removed by the Merrimack Planning Board; said sentence currently states: “The sewer repair for Baboosic Lake Road must be completed and accepted by Public Works prior to issuance of any building permits.”
Sample 1
Developer Contingencies. The Developer’s obligation to close on the South Site Land Transfers is expressly conditioned upon each of the following contingencies being satisfied or waived: (i) The City and Authority shall have performed all of the obligations required to be performed by the City and Authority under this Agreement as of the Land Transfer Closing Date for the South Site (including, but not limited to, completing the Xxxxxx Work) and shall not be in Default under this Agreement; provided further that the City shall not be in Default under the Development Contract. (ii) The Authority shall have delivered to the Developer all of the documents to be delivered by Authority and described in Section 4.4(a). (iii) The Authority shall have approved the Financing Commitment. (iv) The City shall have approved the Final Development Plan, subject only to the Developer’s acquisition of the South Site and the City and the Developer shall have executed the Development Contract. (v) The Developer shall have examined title to the South Site and the North Site; shall have determined that title to the South Site is and title to the North Site Commercial Element will be acceptable to the Developer in the Developer’s reasonable discretion, and Escrow Agent shall be irrevocably committed to issuing to the Developer a 2006 ALTA Owner’s Policy of Title Insurance upon the Land Transfer Closing for the South Site insuring the Developer’s title to the South Site subject only to exceptions which are acceptable to the Developer in the Developer’s reasonable discretion. (vi) The Developer shall have conducted such investigations as to the environmental and geotechnical condition of the South Site and the North Site Commercial Element and shall have investigated the condition of the improvements located on the South Site and the North Site Commercial Element (if any) and shall be satisfied with the results of such investigations in the Developer’s reasonable discretion. (vii) The representations and warranties of the City and the Authority shall be true and correct as the Land Transfer Closing for the South Site. (viii) The Authority shall have entered into the Center Ramp Lease. (ix) The Parties shall have entered into a mutually acceptable North Site Operating Agreement. (x) The Authority shall have entered into the Affordable Housing Loan Agreement.
Sample 1
Developer Contingencies. The Developer’s obligation to close on the North Site Land Transfers is expressly conditioned upon each of the following contingencies being satisfied or waived: (i) No City Event of Default or Authority Event of Default shall exist under the terms of this Agreement or the Development Contract. (ii) The Authority shall have delivered to the Developer all of the Authority Documents described in Section 4.4(b). (iii) The Developer shall have examined title to the North Site; shall have determined that title to the North Site Commercial Element has not been subject to any new defects or encumbrances since the Developer’s initial review of title that are not acceptable to the Developer in the Developer’s reasonable discretion, and Escrow Agent shall be irrevocably committed to issuing to the Developer a 2006 ALTA Owner’s Policy of Title Insurance upon the Land Transfer Closing for the North Site Commercial Element insuring the Developer’s title to the North Site Commercial Element subject only to exceptions which are acceptable to the Developer in the Developer’s reasonable discretion. (iv) The representations and warranties of the City and the Authority shall be true and correct as the Land Transfer Closing for the North Site Commercial Elements. (v) The Authority shall have delivered, at the Land Transfer Closing Date for the North Site Transfer, a Certificate of Completion for the North Site Commercial Elements.
Sample 1

Related to Developer Contingencies

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  • Approved Budget (a) On the last Thursday of each month after the Second Amendment Effective Time, on or before 12:00 pm (New York City time) on such Thursday, Administrative Borrower shall prepare and deliver to the Administrative Agent, for review and approval by the Required DDTL Approving Lenders, an updated week-by-week operating budget for the then subsequent month (each a “Budget” and, once approved as set forth below, the “Approved Budget”), which shall reflect Administrative Borrower’s good faith projection, for the Borrowers and their respective Restricted Subsidiaries, of (a) all weekly receipts (including from asset sales) and expenditures (including ordinary course operating expenses and any other fees and expenses related to the Loan Documents) in connection with the operation of their businesses, (b) weekly disbursements, and (c) net cash flow, in each case, for such month. The Budget delivered during the week of March 4, 2024 shall be the Approved Budget for March 2024. Together with delivery of the Budget, Administrative Borrower shall provide the Administrative Agent (for subsequent delivery to the Lenders) a variance report (“Variance Report”) in a form and substance reasonably acceptable to the Required DDTL Approving Lenders, comparing the actual receipts, disbursements, and net cash flow for such month through the immediately preceding week compared to the Approved Budget, both in dollar ($) and percentage (%) figures and an explanation of the variance. Each week promptly after the delivery of the Variance Report, the Borrower’s senior management and financial professionals shall review the Variance Report in detail during a telephonic conference with the Lenders. If the proposed Budget was timely delivered and contains the requisite information, the Lenders shall have until 2:00 p.m. (New York City Time) on the first Business Day of the following week to review any Budget after which time such Budget shall become an Approved Budget for all purposes hereunder; provided, no such Budget shall become an Approved Budget if reasonably objected to in writing (which may include e-mail) during the review period by the Administrative Agent (at the direction of the Required DDTL Approving Lenders) or Required DDTL Approving Lenders. (b) In the event that an event or circumstance occurs in between the monthly dates on which the Budgets are otherwise due pursuant to Section 6.24(a) which would make the then current Budget materially inaccurate, within two (2) Business Days of becoming aware of such event or circumstance, the Administrative Borrower shall provide notice of such event or circumstance to the Administrative Agent and the Lenders and promptly deliver a revised Budget reflecting the impact thereof. Without limiting the foregoing, the Budget shall be updated, modified or supplemented by the Administrative Borrower with the written consent of the Administrative Agent (at the direction of the Required DDTL Approving Lenders), and upon the request of the Administrative Agent (at the direction of the Required DDTL Approving Lenders) from time to time. (c) Each Budget delivered to the Administrative Agent and the Lenders shall be accompanied by such supporting documentation as reasonably requested by the Administrative Agent (at the direction of the Required DDTL Approving Lenders) and shall be prepared in good faith, with due care and based upon assumptions the Borrower believe to be reasonable. (d) Within one (1) Business Day of any Loan Party having knowledge of their occurrence or existence, Administrative Borrower shall provide the Administrative Agent and Lenders with written notice of any event or condition which is reasonably likely to entail expenditures of more than $100,000 which is not included in the Approved Budget (including, but not limited, on account of an accident, environmental event or other unanticipated occurrence) or which would otherwise be reasonably likely to have a negative impact on the value of the Loan Parties’ and their Subsidiaries’ assets or future business prospects or a similar event.

  • Project Objectives 1.1 (Type the Project objectives)

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