Common use of Frequency of Review Clause in Contracts

Frequency of Review. At City’s request, Master Developer shall appear before the City Council to review the Master Developer’s compliance with the terms of this Agreement pursuant to NRS 278.0205. The Parties agree that the first review shall occur no later than twelve (12) months after the Effective Date of this Agreement, and Master Developer shall provide an updated report every twenty-four (24) months on the anniversary date of that first review thereafter, or as otherwise requested by City upon thirty (30) days’ written notice to Master Developer. For any such review, Master Developer shall provide, and City shall review, a report submitted by Master Developer documenting the extent of Master Developer’s and City’s material compliance with the terms of this Agreement during the preceding reporting period. The report shall contain information regarding the progress of development within the Project, including, without limitation: (a) Data showing the total number of units built and approved on the date of the report; (b) Specific densities within each subdivision and within the Project as a whole; and (c) The status of development within the Project and the anticipated phases of development for the next calendar year. In the event Master Developer fails to submit such a report within thirty (30) days following written notice from City that the deadline for such a report has passed, Master Developer shall be in default of this provision and City shall prepare such a report and conduct the required review in such form and manner as City may determine in its sole discretion. City shall charge Master Developer for its reasonable expenses, fees, and costs incurred in conducting such review and preparing such report. If at the time of review an issue not previously identified in writing is required to be addressed, the review may, at the request of either Party, be continued to afford reasonable time for response.

Frequency of Review. At City’s request, Master Developer shall appear before the City Council to review the Master Developer’s compliance with the terms of this Agreement pursuant to NRS 278.0205. The Parties agree that the first review shall occur no later than twelve (12) months after the Effective Date of this Agreement, and Master Developer shall provide an updated report every twenty-four (24) months on the anniversary date of that first review thereafter, or as otherwise unless sooner requested by City upon thirty (30) days’ written notice to Master Developer. For any such review, Master Developer shall provide, and City shall review, a report submitted by Master Developer documenting the extent of Master Developer’s and City’s material compliance with the terms of this Agreement during the preceding reporting period. The report shall contain information regarding the progress of development within the Project, including, including without limitation: (a) Data showing , the total number of units built and approved on the date of the report; (b) Specific densities within each subdivision and within the Project as a whole; and (c) The status of development within the Project and the anticipated phases of development for the next two calendar yearyears. In the event Master Developer fails to submit such a report within thirty (30) days following written notice from City that the deadline for such a report has passed, Master Developer shall be in default of this provision provision, and City shall prepare such a report and conduct the required review in such form and manner as City may determine in its sole discretion. City shall charge Master Developer for its reasonable expenses, fees, expenses and costs fees incurred in conducting such review and preparing such report. If at the time of review an issue not previously identified in writing is required to be addressed, the review may, at the request of either Party, be continued to afford reasonable time for response.