DEVELOPMENT ASSETS. Allergan shall own and have the right to use any clinical supplies, materials and other assets purchased, manufactured or developed pursuant to approved Work Plans ("Development Assets") and, until such time as the License Option is exercised with respect to the product to which any particular Development Asset pertains, shall use such Development Assets solely in the development of ASTI Products under approved Work Plans.
DEVELOPMENT ASSETS. If Allergan does not exercise the License Option for any ASTI Product in any country prior to the expiration of such License Option or, if Allergan notifies ASTI expressly in writing that it will not exercise the License Option for an ASTI Product, Allergan shall make available to ASTI for further development and commercialization activities at no charge, all clinical supplies, materials and other assets purchased, manufactured or developed for use in the development of such ASTI Product with respect to such country to the extent such assets will not be used under the Research and Development Agreement.
DEVELOPMENT ASSETS. If BioChem, BV or TII does not exercise its Product Option for any CliniChem Product in any country prior to the expiration of such Product Option or, if BioChem, BV or TII notifies CliniChem expressly in writing that it will not exercise its Product Option for a CliniChem Product, BioChem shall make available to CliniChem for further development and commercialization activities, at no charge, all clinical supplies, materials and other tangible assets purchased, manufactured or developed for use exclusively in the development of such CliniChem Product (the "Development Assets") with respect to such country to the extent such assets are being used by CliniChem and will not be used under the Research and Development Agreement.
DEVELOPMENT ASSETS. BioChem shall own and have the right to use any Development Assets.
DEVELOPMENT ASSETS. The Issuer shall have distributed to the Parent the Development Assets on terms and conditions satisfactory to the Purchasers.
DEVELOPMENT ASSETS. ALZA shall own and have the right to ------------------ use any clinical supplies, materials and other assets purchased, manufactured or developed pursuant to approved Work Plans ("Development Assets") and, until such time as the License Option is exercised with respect to the product to which any particular Development Asset pertains, shall use such Development Assets solely in the development of Crescendo Products under approved Work Plans.
DEVELOPMENT ASSETS. If ALZA does not exercise the License ------------------ Option for any Crescendo Product in any country prior to the expiration of such License Option or, if ALZA notifies Crescendo that it will not exercise the License Option for a Crescendo Product, ALZA shall make available to Crescendo for further development and commercialization activities at no charge, all clinical supplies, materials and other assets purchased, manufactured or developed for use in the development of such Crescendo Product with respect to such country to the extent such assets will not be used under the Development Agreement.
DEVELOPMENT ASSETS. A retail or office facility which is in the process of development, design or construction or, if constructed, has not achieved a minimum occupancy of eighty percent (80%) of the rentable square feet of such facility having been leased for a minimum period of three (3) consecutive months at rental rates at or above the market rental rate for similar properties in the same geographical area. For the purpose hereof, facilities to be developed on raw land adjacent to the sites of existing fully constructed facilities of a member of the Combined Group shall include only the facilities to be developed and not the existing constructed facilities.
DEVELOPMENT ASSETS. An amount equal to the sum of (a) the aggregate amount of assets of the Borrower and its Subsidiaries which constitute multifamily housing facilities "Under Development", determined on a consolidated basis in accordance with generally accepting accounting principles, plus (b) the aggregate amount committed and/or budgeted by the Borrower and its Subsidiaries for costs of developing, designing, constructing and equipping multifamily housing facilities "Under Development". For the purposes hereof, a facility is deemed "Under Development" if it is in the process of development, design or construction or, if constructed, has not achieved a minimum occupancy of tenants paying rent under leases approved in accordance with the terms of this Agreement for ninety percent (90%) of all units for a minimum consecutive period of three (3) months at rental rates at or above the market rental rate for similar properties in the same geographical area. For the purpose hereof, the facilities to be developed on raw land adjacent to the sites of existing fully constructed facilities of the Borrower or a Subsidiary shall include only the facilities to be developed and not the existing constructed facilities and the amounts described in clauses (a) and (b) of the first sentence of this definition shall include all costs of raw land.
DEVELOPMENT ASSETS. A retail or office facility which is in the process of development, design or construction or, if constructed, has not achieved a minimum occupancy of eighty percent (80%) of the rentable square feet of such facility having been leased for a minimum period of three (3) consecutive months at rental rates at or above the market rental rate for similar properties in the same geographical area. For the purpose hereof, facilities to be developed on raw land adjacent to the sites of existing fully constructed facilities of a member of the Combined Group shall include only the facilities to be developed and not the existing constructed facilities. DISQUALIFYING ENVIRONMENTAL EVENT. Any Release or threatened Release of Hazardous Substances or any violation of Environmental Laws with respect to any Borrowing Base Property that will, in the Administrative Agent's reasonable opinion, cost in excess of $1,000,000 to remediate, or which, with respect to the Borrowing Base Properties taken as a whole, will, in the Administrative Agent's reasonable opinion, cost in excess of $10,000,000 to remediate.
