Development Schedule. The Project shall substantially comply with the specific timetables and triggers for action set forth in Article 5 of this Agreement. The parties acknowledge that, as provided in G.S. 160A-400.25(b), the failure to meet a commencement or completion date shall not, in and of itself, constitute a material breach of this Agreement pursuant to G.S. 160A-400.27 but must be judged based upon the totality of the circumstances.
Development Schedule. Development Schedule shall mean the schedule of milestones set forth in Schedule C of this Agreement.
Development Schedule. The Property shall be developed in accordance with the development schedule, attached as Exhibit D, or as may be amended by Owner or Developer(s) in the future to reflect actual market absorption. Pursuant to the Act, the failure of the Owner and any Developer to meet the initial development schedule shall not, in and of itself, constitute a material breach of this Agreement. In such event, the failure to meet the development schedule shall be judged by the totality of circumstances, including but not limited to the Owners and Developer(s) good faith efforts to attain compliance with the development schedule. These schedules are planning and forecasting tools only and shall not be interpreted as mandating the development pace initially forecast or preventing a faster pace if market conditions support a faster pace. The fact that actual development may take place at a different pace, based on future market forces, is expected and shall not be considered a default hereunder. Development activity may occur faster or slower than the forecast schedule, as a matter of right, depending upon market conditions. Furthermore, periodic adjustments to the development schedule which may be submitted unilaterally by Owner / Developers in the future, shall not be considered a material amendment or breach of the Agreement.
Development Schedule. The schedule for design and development of the Tenant Improvements (as defined below), including without limitation the time periods for delivery of construction documents and performance, shall be in accordance with the Development Schedule attached hereto as Schedule A, subject to adjustment as mutually agreed by the parties in writing or as provided in this Work Letter (the "DEVELOPMENT SCHEDULE").
Development Schedule. The schedule for design and development of the "BASE BUILDING WORK" (as defined below) and the "TENANT IMPROVEMENTS" (as defined below), including, without limitation, the time periods for preparation, delivery, review, and approval of construction documents and performance pursuant to such documents, shall be in accordance with the Development Schedule attached hereto as Schedule A, subject to adjustment as mutually agreed by the parties in writing or as provided in this Work Letter (the "DEVELOPMENT SCHEDULE").
Development Schedule. The FRANCHISEE acknowledges and agrees that a material provision of this Agreement is that the following number of Cost Cutters Businesses must be opened and continuously operating in the Franchised Area during the term of this Agreement in accordance with the following development schedule: ---------------------------- -------------------------------------------- --------------------------------------------- NUMBER OF COST CUTTERS BUSINESSES REQUIRED CUMULATIVE NUMBER OF COST CUTTERS TO BE OPENED AND CONTINUOUSLY OPERATING BUSINESSES REQUIRED TO BE OPEN AND FOR BUSINESS IN THE FRANCHISED AREA DURING CONTINUOUSLY OPERATING FOR BUSINESS IN THE PERIOD THE PERIOD FRANCHISED AREA AT THE END OF THE PERIOD ---------------------------- -------------------------------------------- --------------------------------------------- -first half: YEAR 1 -second half: ---------------------------- ------------------------------------------- ---------------------------------------------- -first half: YEAR 2 -second half: ---------------------------- ------------------------------------------- ---------------------------------------------- -first half: YEAR 3 -second half: ---------------------------- ------------------------------------------- ---------------------------------------------- -first half: YEAR 4 -second half: ---------------------------- ------------------------------------------- ---------------------------------------------- -first half: YEAR 5 -second half: ---------------------------- ------------------------------------------- ---------------------------------------------- -first half: YEAR 6 -second half: ---------------------------- ------------------------------------------- ----------------------------------------------
Development Schedule. The Property shall be developed in accordance with the development schedule, attached as Exhibit D, or as may be amended by Owner or Developer(s) in the future to reflect actual market absorption. Pursuant to the Act, the failure of the Owner and any Developer(s) to meet the initial development schedule shall not, in and of itself, constitute a material breach of this Agreement. In such event, the failure to meet the development schedule shall be judged by the totality of circumstances, including but not limited to the Owner's and Developer(s)'s good faith efforts to attain compliance with the development schedule. These schedules are planning and forecasting tools only and shall not be interpreted as mandating the development pace initially forecast or preventing a faster pace if market conditions support a faster pace. The fact that actual development may take place at a different pace, based on future market forces, is expected, and shall not be considered a default hereunder. Development activity may occur faster or slower than the forecast schedule, as a matter of right, depending upon market conditions. Furthermore, periodic adjustments to the development schedule which may be submitted unilaterally by Owner(s) / Developer(s) in the future, shall not be considered a material amendment or breach of the Agreement.
Development Schedule. Below are the key milestone dates that the Parties commit to meet for the SHURIKEN project. Sharp shall manage and be responsible for the development, testing and production schedules for the SHURIKEN hardware. Danger shall manage and be responsible for the development and testing schedules for the SHURIKEN software. The parties shall collaborate and share scheduling information. Date Milestones for T-Mobile USA [ * ] Sharp ships out ([ * ]) EVT2 to Danger w/Sharp USB charging rework [ * ] Sharp ships out ([ * ]) EVT3 PCB units to Danger [ * ] Sharp ships out ([ * ]) EVT3(Navi-style) units to Danger [ * ] Sharp ships out ([ * ]) EVT3 handmade cabinet unit to Danger [ * ] Software Feature Complete declared on EVT2 (except mood lights) [ * ] Software Alpha declared on DVT [ * ] Sharp ships ([ * ]) DVT1 to Danger [ * ] Sharp ships out ([ * ]) PVT1 units to Danger [ * ] Sharp ships out ([ * ]) PVT2 units to Danger [ * ] Software Beta declared on PVT1 [ * ] Software Release for Test Cycle 1 [ * ] Software Release Candidate for Test Cycle 2 [ * ] Software Release for Test Cycle 3 and Factory Package delivered to Sharp [ * ] Sharp ships out ([ * ]) PP units to Danger [ * ] Sharp submits final units to [ * ] for testing [ * ] [ * ] approves Shuriken hardware (proceed with production start) [ * ] [ * ] approves Shuriken software and issues Terminal Approval (TA) [ * ] Mass Production starts [ * ] Sharp ships initial [ * ] units to T-Mobile distribution center [ * ] Commercial Launch of Shuriken by [ * ]
Development Schedule. See SOW Document Number MKT-SOW-VTB-001
Development Schedule. 3.01. Developer shall exercise each development right granted herein only by executing a Franchise Agreement for each Franchised Unit for a site accepted by the Franchisor in the Development Area as hereinafter provided. Developer's right to execute such a Franchise Agreement shall be contingent upon Developer's continuous performance of all of the terms and conditions of this Agreement and any other development, franchise or other agreements between Developer and Franchisor. The Franchise Agreement for each Franchised Unit developed pursuant to this Agreement shall be in the form of the Franchise Agreement attached hereto as Exhibit C.
3.02. Recognizing that time is of the essence in this Agreement, Developer agrees to exercise the development rights granted hereunder in the manner specified in Section IV hereof and to satisfy the Development Schedule. Failure by Developer to adhere to the Development Schedule shall constitute a default under this Agreement, as provided in Section 5.03. hereof.
3.03. In addition to the development fee required by Section II hereof, Developer shall pay (i) an initial franchise fee for each Restaurant developed hereunder in the amount of Fifteen Thousand Dollars ($15,000) upon execution of a Franchise Agreement for each such Franchised Unit, all of which amount shall be non-refundable and fully earned by Franchisor upon execution of the Franchise Agreement for a Franchised Unit.
