Development Commitments Clause Samples
The Development Commitments clause sets out the specific obligations and milestones that a party, typically a developer, must fulfill during the course of a project. This may include deadlines for completing certain phases, quality standards to be met, and requirements for regular progress reports or deliverables. By clearly outlining these expectations, the clause ensures accountability and helps prevent disputes by providing measurable benchmarks for performance.
Development Commitments. As a material inducement to the CRA to provide the Recapture Incentive Payment for the benefit of the Project pursuant to this Agreement, and in the interest of furthering the goals of the CRA, Developer (for itself and its respective successors and assigns) hereby covenants and agrees to (as defined in Section 3.2 below) for the public benefit during the Term of this Agreement:
Development Commitments. In the event that CIMA terminates this Agreement pursuant to Section 10.2 or WCH terminates this Agreement pursuant to Section 10.3, all development commitments (internal and external) of CIMA incurred or committed up through the effective date of such termination shall become due and payable to CIMA by WCH on the effective date of such termination.
Development Commitments. The schedule of development commitments attached hereto as Exhibit 4.25 sets forth a complete and correct description of all commitments of Seller to develop software and/or video games compatible with computers and game consoles as of the Closing Date.
Development Commitments. 4.1 The Transferee hereby covenants and agrees that:
(a) The Demised Land cannot be resold in its vacant condition and can only be transferred post-construction and commencement of an industrial unit as per the sanctioned building plan approved by the competent authority;
(b) Not subdivide the Demised Land without written permission of the Original Assignor
(c) Registration of Deed of Assignment for the transfer of the Demised Land shall be executed within 90 (ninety) days from the date of this Deed of Adherence;
(d) Building plan sanction for the proposed industrial development shall be obtained within 24 (twenty-four) months from the date of this Deed of Assignment;
(e) Completion of construction and operationalisation of the industrial unit as per approved plan within 60 (sixty) months from the date of registration of the Deed of Assignment.
4.2 The Transferee acknowledges and agrees that in the event of non-compliance with any of the timelines specified in Clause 4.1, the Transferee shall, subject to written consent form the Original Assignor, be required to pay additional assignment premium in accordance with the following formula:
(a) For extension of year one: 2% of the prevailing market valuation of the Demised Land;
(b) For extension of year two: 3% of the prevailing market valuation of the Demised Land;
(c) For extension of year three: 4% of the prevailing market valuation of the Demised Land;
(d) For extension of year four: 5% of the prevailing market valuation of the Demised Land;
(e) For extension of year five: 6% of the prevailing market valuation of the Demised Land.
4.3 The Transferee further acknowledges and agrees that, in the event of its failure to construct and operationalize the industrial unit strictly in accordance with the approved plan within the timelines stipulated under Clause 4.1 (or within any extended timelines granted under Clause 4.2, if applicable), such failure shall constitute a material breach of this Agreement and entitle the Original Assignor to terminate the lease and exercise the right of re-entry upon such demised land. In such event, the Transferee shall deliver peaceful vacant possession of the Demised Land free from all encumbrances together with all improvements, if any, done thereto without prejudice to any other rights of the Original Assignor entitled in law.
4.4 The Transferee acknowledges that any subsequent transfer shall be subject to the terms and conditions prescribed by the Original Assignor at the t...
Development Commitments. 31 APPENDIX "A" - PRICES.......................................................32 APPENDIX "B" - TECHNICAL SPECIFICATIONS.....................................33 APPENDIX "C" - CONFIDENTIALITY .............................................34 APPENDIX "D" - CUSTOM COMPONENTS............................................35 APPENDIX "E" - SOFTWARE LICENSE.............................................36 APPENDIX "F" - ESCROW ACCOUNT...............................................37
Development Commitments. A. The Parties shall make their best efforts to develop a compatible transmission management network (otherwise known as TMN Q) interface between INNOVA's Products and NERA's SDH Products.
B. The Parties shall make their best efforts to develop a 16xE1 Indoor Unit utilizing NERA's existing 16xE1 multiplexer and hitless switching circuits and modifying INNOVA's Outdoor Unit to accommodate the resulting traffic.
C. The Parties shall make their best efforts to develop a 7/8 GHz radio relay transceiver utilising both NERA and INNOVA know-how and existing circuits to minimize development time. The allocation of Development tasks is subject to continuing discussions between NERA and INNOVA. This Agreement is signed in duplicate. For INNOVA Corporation For NERA ASA By: /s/ Jean ▇▇▇n▇▇▇▇ ▇▇▇▇▇▇ BY: /s/ [Illegible] -------------------------- -------------------------- Title: President & CEO Title: E.V.P. ----------------------- ----------------------- May 30, 1997 APPENDIX "A" - PRICES The Prices in $US are attached together with a detailed listing of Ordering Numbers and Information to cover all available frequency plans and sub bands. As new options become available this listing will be updated XP4 UNIT, EQUIPMENT KIT & CUSTOM COMPONENT PRICES Refer to the specific Ordering Part Numbers to cover the various tuning ranges within each band, transmit to receive spacing and traffic capacities, etc. All prices are FCA Innova's Factory in Seattle, WA, USA. UNIT & EQUIPMENT KIT PRICES ----------------------------------------------------------------------------------------------------------- Ordering Number Description Factory Price $US Factory Price Factory Price (Level 1) $US $US (Level 2) (Level 2/3) ----------------------------------------------------------------------------------------------------------- 841-20x38x-xxx Outdoor Unit - 38 GHz $***** $***** $***** ----------------------------------------------------------------------------------------------------------- 841-20x26x-xxx Outdoor Unit - 26 GHz $***** $***** $***** ----------------------------------------------------------------------------------------------------------- 841-20x23x-xxx Outdoor Unit - 23 GHz $***** $***** $***** ----------------------------------------------------------------------------------------------------------- 841-20x18x-xxx Outdoor Unit - 18 GHz $***** $***** $***** ----------------------------------------------------------------------------------------------------------- 841-20x15x...
Development Commitments. From and after the date of this Agreement, Seller will not make any further commitments or representations to the applicable governmental authorities, any adjoining or surrounding property owners or any other person which would in any manner materially and adversely interfere with Developer’s ability to purchase, develop and improve the Property without the written consent of Developer; provided that Seller will take such action as may be required to comply with the Land Use Decision of October 18, 2001 regarding the establishment and implementation of the Kaupulehu Development Monitoring Committee. In the event Seller’s actions affect the Real Property, Seller shall notify Developer and consult with Developer.
Development Commitments