Development Contributions. (a) On the Closing Date, the Initial Member shall deposit into the Initial Member Development Funding Account the Initial Member Development Funding Account Deposit in accordance with the provisions of Section 12.12 hereof and Section 1 of the Transferred LLC Interest Sale Agreement, which funds shall be used for the funding, as Capital Contributions, of Initial Member Development Contributions in accordance with the provisions hereof, to be used by the Company, together with the applicable Private Owner Development Contributions, to fund, on an Acquired REO Property-by-Acquired REO Property basis, Horizontal Development (and related expenses) in accordance with, and to the extent expressly set forth in, an Asset Development Plan approved by the Initial Member in accordance herewith (such approved Horizontal Development pursuant to such Asset Development Plan, “Permitted Horizontal Development”). Each Development Contribution will be subject to approval, on an Acquired REO Property-by-Acquired REO Property basis, by each Required Consenting Party pursuant to approval of the related Asset Development Plan.
(b) So long as funds remain in the Initial Member Development Funding Account, the Company may, based on determinations of the Manager and with the consent of the Private Owner, from time to time request that the Members make Development Contributions for purposes of Horizontal Development of specific Acquired REO Property. Any such request (a “Development Contribution Request”), must be in writing signed by each of the Manager and the Private Owner delivered to the Initial Member specifying in reasonable detail, for such Acquired REO Property, the proposed Horizontal Development, including attached thereto the applicable Asset Development Plan for such Horizontal Development. Within forty-five (45) Business Days after receipt of a Development Contribution Request and related Asset Development Plan, the Initial Member, subject to the consent of each Required Consenting Party, shall (a) approve the submitted Asset Development Plan, (b) provide the Manager and Private Owner with a description of the changes required to obtain such approval, or (c) indicate to the Manager and the Private Owner that the plan will not be approved (and a failure of the Initial Member to provide one of the foregoing responses within forty-five (45) Business Days after receipt of the applicable Asset Development Plan shall be deemed as such indication that the Asset Development P...
Development Contributions. Varian agrees that it will dedicate certain employees of Varian to the development of the Probe for integration in the NMR Subsystem, such development may be performed jointly with employees or representatives of LipoScience. The Parties will mutually agree on the technical and functional requirements and specifications of the Probe and perform related development activities as agreed by the Parties and as set forth in the Development Plan. Each Party will be responsible for its own costs associated with the development of the Probe.
Development Contributions. (a) The Developer undertakes to provide the Development Contribution to Council in the manner set out in the table below: Construction Phase $150,000.00 Payable within 3 months from the date the Developer receives notice that the Accommodation and Employment Strategy has been approved pursuant to condition 32 of the Development Consent. Operations Phase $150,000.00 per annum (as adjusted for CPI in accordance with this Schedule 3) Commencing with an initial payment on the Commercial Operation Commencement Date and then on each anniversary of the Commercial Operation Commencement Date until the Commercial Operation End Date, subject to clause 2 of this Schedule 3
(b) The Contribution Amount must be paid by way of bank cheque in favour of Council or by deposit by means of electronic funds transfer into an account specified by Council in writing.
(c) For the second and all subsequent Contribution Amounts made during the Operations Phase identified in clause 1 of this Schedule 3, the annual Contribution Amount will be adjusted by CPI in accordance with clause 1(d) of this Schedule 3.
(d) The second and all subsequent Contribution Amounts payable by the Developer under this Agreement after the occurrence of a CPI Adjustment Date is to be adjusted by multiplying the previous Contribution Amount payable (as previously adjusted in accordance with this clause, where relevant) by an amount equal to the Current CPI divided by the Base CPI.
Development Contributions. (Clause 4)
Development Contributions. See clauses 7 and 8. See clause 5. See clause 24. Not to be registered. See clause 26. See clause 27.
Development Contributions. The Developer undertakes to make the following Development Contributions:
Development Contributions. The Developer undertakes to provide the Development Contribution to the Council or their nominee in the manner set out in the table below: Dedication of Offset Land to Council As detailed in clause 2 of this Schedule 4 and by the Dedication Date in accordance with clause 2 of this Schedule 4 Maintenance of the Offset Land As detailed in clause 3 of this Schedule 4 and for the duration of the Maintenance Period in accordance with clause 3.2 of this Schedule 4 Payment of the Monetary Contribution towards the upgrade of open space facilities at Bennett Park As detailed and in accordance with clause 4 of this Schedule 4 Design and works associated with the Traffic Signals at the Xxxxx Avenue, Xxxxxxx Street and Entrance intersection As detailed in accordance with clause 5 of this Schedule 4 Design and works associated with the capacity improvements at Chapel Street and Glossop Street intersection to accommodate the creation of an additional right hand turn lane As detailed in accordance with clause 6 of this Schedule 4 Design and works associated with the Embellishment Works for the Public Plaza located on the Offset Land As detailed in accordance with clause 7 of this Schedule 4 Provision of Affordable Housing As detailed in accordance with clause 8 of this Schedule 4
Development Contributions. (a) For the length of the Term, the Developer is to make contributions in the amount of Development Contribution Amount.
(b) The Development Contribution Amount for the first year of the Term is to be made within three months of the Operation Date.
(c) Development Contribution Amounts for each subsequent year is to be made within three months of the relevant anniversary of the Operation Date.
(d) Commencing on the first anniversary of the Operation Date, the Development Contribution Amount will be adjusted to take into account changes in CPI from the prior anniversary of the Operation Date (or in the case of the first review, the Operation Date) and the current anniversary of the Operation Date
(e) A Development Contribution Amount is made for the purposes of this Agreement when the Council receives the full amount of the contribution payable under this Agreement in cash or by unendorsed bank cheque or by the deposit by means of electronic funds transfer of cleared funds into a bank account nominated by the Council.
