Common use of Development Phase Clause in Contracts

Development Phase. In addition to any of its other obligation under this Agreement, during the development phase, the Lessee shall i. In accordance with the Project Schedule, commence and complete the Project to the satisfaction of NRDA. ii. Entrust responsibility for Project management and construction to professionally competent Person. iii. Obtain all necessary Approvals from all the statutory authorities, and such other Approvals and permits as may be needed during the construction/operation of the Project; iv. Comply with Applicable Laws and give priority to safety in its construction and planning activities in order to protect life, health, property and environment. v. Provide to the representative(s) of the NRDA, at any time access to the Project Land to review progress in construction and operation of Project and to ascertain compliance with any of the requirement of this Agreement. vi. Promptly carry out at its cost such further works as may be necessary to remove any defects or deficiencies observed by the Steering Group and NRDA’s representative to ensure completion of construction of the Project in all respects in accordance with the provisions of this Agreement. vii. Furnish operational information as and when requested for by NRDA, within a reasonable time viii. Meet all the costs of operation, maintenance and repairs of the Project or any part thereof; as per the provisions of this agreement ix. Maintain the Project in accordance with the Good Industry Practice with the objective of providing adequate service standards and ensuring that the Project to be transferred to the NRDA/buyers/members upon expiry of the Development Period are in good condition, normal wear and tear excepted; x. Pay taxes and duties as per applicable laws xi. Disclosure of the relevant information to the perspective buyers of the housing stock created under this agreement.

Development Phase. In addition to any of its other obligation under this Agreement, during the development phase, the Lessee shall i. In in accordance with the Project Schedule, commence and complete the Project to the satisfaction of NRDA. ii. Entrust entrust responsibility for Project management and construction to professionally competent Person. iii. Obtain obtain all necessary Approvals from all the statutory authorities, and such other Approvals and permits as may be needed during the construction/operation of the Project; iv. Comply comply with Applicable Laws and give priority to safety in its construction and planning activities in order to protect life, health, property and environment. v. Provide provide to the representative(s) of the NRDA, at any time access to the Project Land to review progress in construction and operation of Project and to ascertain compliance with any of the requirement of this Agreement. vi. Promptly promptly carry out at its cost such further works as may be necessary to remove any defects or deficiencies observed by the Steering Group and NRDA’s representative to ensure completion of construction of the Project in all respects in accordance with the provisions of this Agreement. vii. Furnish furnish operational information as and when requested for by NRDA, within a reasonable time viii. Meet meet all the costs of operation, maintenance and repairs of the Project or any part thereof; as per the provisions of this agreement ix. Maintain maintain the Project in accordance with the Good Industry Practice with the objective of providing adequate service standards and ensuring that the Project to be transferred to the NRDA/buyers/members upon expiry of the Development Period are in good condition, normal wear and tear excepted; ; x. Pay pay taxes and duties as per applicable laws xi. Disclosure of the relevant information to the perspective buyers of the housing stock created under this agreement.