Developer's Contribution. 18.1 The Developer shall not be obliged to provide carpets, grommets or the Tenant’s Category A Works as part of the Works and in lieu thereof the Developer will on completion of the Leases pay to the Tenant the Developer’s Contribution.
18.2 The Value Added Tax exclusive amount of the Developer’s Contribution shall be:
18.2.1 seventy three thousand, two hundred and ninety pounds and eighty xxxxx (£73,290.80) in respect of the Tenant’s Category A Works;
18.2.2 seven thousand four hundred and seventy five pounds and thirty xxxxx (£7,475.30) being thirty five pounds (£35) per grommet at a ratio of one grommet per 10 square metres of Net Internal Area of the Premises, as such Net Internal Area is set out in Schedule 1; and
18.2.3 fifty three thousand, three hundred and ninety five pounds (£53,395) being twenty five pounds (£25) for carpet for each square metre of Net Internal Area of the Premises, as such Net Internal Area is set out in Schedule 1.
18.3 In addition to the Developer’s Contribution the Developer shall also pay to the Tenant an amount equal to the Value Added Tax arising in respect of the Developer’s Contribution within 10 Business Days of production to the Developer of a proper and valid Value Added Tax invoice or invoices issued in the Tenant’s own name and addressed to the Developer relating to the Developer’s Contribution.
Developer's Contribution. The Developer shall be responsible for paying directly all engineering costs associated with the Required Improvements during the design and construction phases. Developer shall also reimburse the City for all costs associated with the construction of the Required Improvements that is not paid by the LIFTS Grant, including but not limited to any local match required by the LIFTS Agreement (“Developer’s Contribution”). Specifically, upon receipt of any invoice for the construction of the Required Improvements, the City shall pay the invoice and promptly forward reimbursement requests to: (i) the State under the LIFTS Agreement for 80% of the LIFTS eligible expenses (i.e., expenses that are reimbursable by the State under the LIFTS Agreement); and (ii) to the Developer under this Agreement for (A) the remaining 20% of LIFTS eligible expenses; and (B) 100% of any expenses that are not eligible for reimbursements under the LIFTS Agreement (including but not limited to expenses in excess of the LIFTS Grant amount). Developer shall fully pay any reimbursement requests from the City under this Agreement within twenty (20) days of receipt of each request. If payment of Developer’s Contribution is not timely made, the amount of any unpaid invoice, plus interest at the maximum amount allowed by law, shall be deducted from any Economic Development Grants to be paid under Section 8.1 of this Agreement and the Maximum Aggregate Amount described in Section 8.3 shall be reduced by that amount.
Developer's Contribution. 3.4.1 Except for the MILRA Due Diligence Contribution (as defined in Section 3.5 below), Developer shall be solely responsible for all costs (including Due Diligence Costs as defined in Section 4.1 below), capital contributions, expertise, services and all other monetary and non-monetary contributions necessary to conceptualize, conduct due diligence, design, fund, construct (including necessary infrastructure) and ultimately operate and/or lease or sell the Project and fulfill the terms and conditions of this Master Development Agreement (the “Developer’s Investment”). It is the express understanding of the Parties that Developer is a sophisticated party fully capable and in the business of determining the risk of loss or value of potential investment return associated with real estate development projects similar to the Project. Therefore, although it is the intent and understanding between the Parties that Developer’s Investment shall approximately equal MILRA’s Contribution, Developer fully acknowledges and agrees: (i) that Developer shall obtain and utilize Developer’s Investment as necessary to fulfill the objectives of this Master Development Agreement; (ii) that the Developer Investment shall not be capped in any way or set at any amount; (iii) that MILRA makes no representation or warranty as to what investment may be necessary to complete the Project; and
Developer's Contribution. 6.1 Subject to the terms of this agreement, including clause 3.3, the Developer agrees to provide the Developer's Contribution, subject to clause 8, in the form of the Cash Contribution via a condition of Development Consent at the rate of $30,000, subject to clause 8, for the creation of each vacant Housing Lot.
6.2 For the avoidance of doubt, the parties agree and acknowledge that the maximum Cash Contribution is calculated on the basis of $30,000, subject to clause 8, per additional Housing Lot created by subdivision of the Development Land. The existing Development Land allotment does not attract a Cash Contribution through this Agreement by virtue of there being on the land prior to any additional subdivision one lawfully existing dwelling.
Developer's Contribution. Subject to the terms of this agreement, including clause 3.3, the Developer agrees to provide the Developer's Contribution in the form of the Cash Contribution.
Developer's Contribution.
6.1 Subject to the terms of this agreement, including clause 3.3, the Developer agrees to provide the Developer's Contribution in the form of the Cash Contribution via a condition of Development Consent at the rate of $30,000, subject to clause 8, for the creation of each additional Housing Lot.
6.2 For the avoidance of doubt, the parties agree and acknowledge the Development Land consists of two allotments and the Council will exclude the number of existing allotments when calculating the required Developer’s Contribution.
6.3 If less than 13 Housing Lots are achieved on the Development Land, the Cash Contribution of $30,000 per Housing Lot created will be multiplied by the number of achievable Housing Lots created
Developer's Contribution.
6.1 Subject to the terms of this agreement, including clause 3.3, the Developer agrees to provide the Developer's Contribution.
6.2 The Developer's Contribution comprises:
6.2.1 such of the Road Works that are selected by the VPA Schedule Projects Selection Committee, up to the value of the Maximum Road Works Contribution; and
6.2.2 such of the Community Works that are selected by the VPA Schedule Projects Selection Committee, up to the value of the Maximum Community Works Contribution; in accordance with clause 9 and Schedule 3 of this agreement and subject to receiving any necessary Approval for such works; and
