Election of Participating Developers Sample Clauses

Election of Participating Developers. No later than December 31, 2016 or such later date as the District and each of the Developers may agree, Developers shall provide notice to District, through the “Developers’ Representative” (as defined below at Section 5.3), as to whether the foregoing conditions precedent (other than condition (vi)) have been satisfied. If, as of December 31, 2016, any Developer has failed (x) to secure its approvals without further litigation (under Sections 2.3.1(i) and (iv) above), and such Developer has not waived in writing the conditions set forth in Sections 2.3.1(i), (iv) and (v) above pertaining to its approvals; (y) to acquire its Development Property (under Section 2.3.1(ii) above) and such Developer has not waived in writing the condition set forth in Section 2.3.1(ii) above as to its Development Property; or (z) or to post or provide the security required under Section 2.3.1(vii) above; such Developer shall be considered a “Non-Participating Developer” and each of the remaining Developers shall be considered a “Participating Developer.” If one or more Developers becomes a Non- Participating Developer, the Participating Developer or Developers may, as specified in such notice required above, elect to (i), if there is only one Participating Developer, pay fees in lieu of constructing the Elementary School as set forth in Section 2.3.3, below; (ii) if there are one or more Participating Developers, proceed with construction of the Elementary School in compliance with the provisions of Section 9.2 and subject to the Funding Cap specified in Section 5.1; or (iii), if there are one or more Participating Developers, proceed with construction of the Elementary School as set forth in Section 2.3.4 below but at a cost (the “Reduced Funding Cap”) that has been reduced proportionately pursuant to the allocation schedule prepared by the Developers and attached hereto as Exhibit I (the “Allocation Schedule”) as may be revised in accordance with Section 9.2.2, to reflect the lack of financial participation by the Non-Participating Developers (or reduced to some other capacity as may be agreed by the District and the Participating Developers). In the event a Developer becomes a Non-Participating Developer, such Developer shall have no further rights or obligations under this Agreement, including, without limitation, any obligation to make any payments pursuant to Section 5.2.2, furnish a Letter of Credit (as defined below) or satisfy any indemnification obligations under Se...
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Related to Election of Participating Developers

  • Termination of Participation If the Administrator determines in good faith that the Executive no longer qualifies as a member of a select group of management or highly compensated employees, as determined in accordance with ERISA, the Administrator shall have the right, in its sole discretion, to cease further benefit accruals hereunder.

  • Full Employer Contribution - Basic Eligibility Employees covered by this Agreement who are scheduled to work at least seventy-five (75) percent of the time are eligible for the full Employer Contribution. This means:

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Participating FFI The term Participating FFI means a Financial Institution that has agreed to comply with the requirements of an FFI Agreement, including a Financial Institution described in a Model 2 IGA that has agreed to comply with the requirements of an FFI Agreement. The term Participating FFI also includes a qualified intermediary branch of a Reporting U.S. Financial Institution, unless such branch is a Reporting Model 1

  • Rollover □ Rollover of a withdrawal from another Traditional IRA or of an eligible rollover distribution from an employer qualified plan, 403(b) arrangement or eligible 457 plan. Check enclosed in the amount of $ . [If this rollover contribution constitutes all or part of either a withdrawal from another Traditional IRA or an eligible rollover distribution from an employer qualified plan or 403(b) arrangement, and if it includes any after-tax (or nondeductible) contributions to such other Traditional IRA or employer qualified plan or 403(b) arrangement, indicate the amount of after-tax contributions included in this rollover contribution: $ .]

  • Compensation for Convenience Termination If City shall terminate for its convenience as herein provided, City shall compensate Consulting Engineer/Architect for all Engineering/Architectural Services satisfactorily completed to date of its receipt of the termination notice and any additional Engineering/Architectural Services requested by City to bring the Project to reasonable termination. Compensation shall not include anticipatory profit or consequential damages, neither of which will be allowed.

  • Narrow Participation Retirement Fund A fund established in Guernsey to provide retirement, disability, or death benefits to beneficiaries that are current or former employees (or persons designated by such employees) of one or more employers in consideration for services rendered, provided that:

  • Broad Participation Retirement Fund A fund established in The Bahamas to provide retirement, disability, or death benefits, or any combination thereof, to beneficiaries that are current or former employees (or persons designated by such employees) of one or more employers in consideration for services rendered, provided that the fund:

  • Termination for Non-Allocation of Funds 4.17.2 Renegotiate the Contract under the revised funding conditions; or

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

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