Development Management Agreement. “Development Management Agreement” shall mean the Development Management Agreement entered into by Company and Development Manager pursuant to Section 10.1, as amended or supplemented from time to time.
Development Management Agreement. The signed Development Management Agreement.
Development Management Agreement. At Closing, Buyer or an Affiliate of Buyer, as Buyer shall elect, and CPI shall enter into a management services agreement pursuant to which Buyer, or Buyer's Affiliate, shall provide management services to CPI with respect to CPI's post-Closing real estate portfolio for an eighteen (18) month period after Closing and shall receive the following compensation: (a) from the Closing Date through the last day of the third month after the Closing Date, $250,000.00 per month; (b) from the first day of the fourth month after the Closing Date through the last day of the sixth month after the Closing Date, $150,000.00 per month; (c) from the first day of the seventh month after the Closing Date through the last day of the tenth month following the Closing Date, $100,000.00 per month, and; (d) from the first day of the eleventh month following the Closing Date through the last day of the eighteenth month following the Closing Date, $50,000.00 per month (the "Development Management Agreement"). The Development Management Agreement shall be substantially in form of Exhibit "Development Management Agreement".
Development Management Agreement. Borrower has delivered to Administrative Agent a true, correct and complete copy of the Development Management Agreement. As of the Modification Date, the Development Management Agreement is in full force and effect and there are no monetary defaults or material non-monetary defaults (beyond applicable notice and cure periods) thereunder by Borrower or, to Borrower’s Knowledge, by the other party and, to Borrower’s Knowledge, there are no conditions that, with the passage of time or the giving of notice, or both, would constitute a monetary default or a material non-monetary default thereunder.
Development Management Agreement. In order to avoid any uncertainties, it is hereby specifically agreed, acknowledged and specified that SMP is retaining, and does hereby retain, all of its rights, privileges, duties and obligations created by the Development Management Agreement. As a result, all amounts payable to SMP under or pursuant to the Development Management Agreement, including, without limitation, the $200,000.00 management fee referred to therein, shall be the sole and exclusive property of SMP, and the Partnership shall have no right or interest therein.
Development Management Agreement. Simultaneously with the execution of this Agreement, the Company and the Development Manager are entering into a Development Management Agreement providing for the Development Manager’s management and supervision of the development work required for the Property and the payment of the Development Fee and certain additional overhead costs to the Development Manager for performing these responsibilities.
Development Management Agreement. Following the valid execution of this Operating Agreement by the Members, the Company shall enter into a development agreement (or shall cause Clarksburg Skylark, LLC- to enter into a development agreement) which shall specify and govern the responsibilities. duties, activities, obligations, rights, and powers of Artery Development Company, LLC in connection with the Development Work (the “Development Management Agreement”) in the form attached hereto as Exhibit “D”. The Development Management Agreement and the Business Plan and Development Budget shall specify the scope and extent of the Development Work. Artery Development Company, LLC shall devote such time to the Company and its business as is appropriate to conduct the business of the Company in an effective manner and to carry out its responsibilities as required by the Development Management Agreement and this Operating Agreement; provided, however, that Artery Development Company, LLC shall not be obligated to devote its full time and attention or that of its officers, directors, employees, and Affiliates to the activities required by the Development Management Agreement.
Development Management Agreement. On 5 August 2016 (after trading hours), Hailiang Australia, a direct wholly-owned subsidiary of the Company, entered into the Development Management Agreement with Maxida Australia, pursuant to which Maxida Australia agreed to engage Hailiang Australia to manage the Project including to administer and control the design, construction and completion of the Building. Hailiang Australia will be entitled to an annual Development Management Fee in the amount of AUD600,000 (equivalent to approximately HK$3,498,000) per each 12 months of engagement.
Development Management Agreement. On 5 August 2016 (after trading hours), Hailiang Australia, a direct wholly-owned subsidiary of the Company, entered into the Development Management Agreement with Maxida Australia.
Development Management Agreement. Borrower agrees that it will not enter into any Development Management Agreement until such time as (i) Administrative Agent has approved the Development Manager, which approval will not be unreasonably withheld, (ii) Borrower has delivered the proposed form of Development Management Agreement to Administrative Agent, and received the written approval of such form by Administrative Agent, and (iii) as to any Development Management Agreement, it has obtained and delivered to Administrative Agent an Assignment and Subordination of Development Management Agreement executed by the Development Manager in the form acceptable to Administrative Agent. The Development Management Agreement shall be subordinate to the Security Instrument and must be terminable on thirty (30) days prior written notice from Administrative Agent after a Default. Except to the extent provided by Applicable Law, upon obtaining title to the Property and Improvements or any portion thereof pursuant to the remedies in the Security Instrument, Administrative Agent will not be liable for unpaid developer fees accrued before the acquisition of title by Administrative Agent or a Person owned in whole or in part by Administrative Agent and/or Lenders.
