Future Development Rights Sample Clauses

Future Development Rights. (a) For so long as the Contributors beneficially own (directly or indirectly), in the aggregate, more than 5% of the REIT's outstanding securities (assuming the redemption of the Contributors' Units for shares of the REIT's common stock), BNP shall have a right of first refusal to acquire all future multi-family properties developed directly or indirectly by any Contributor, or any Affiliate thereof (a "Development Property") within a three-mile radius of the Property (such development being subject to the prior approval of BNP under Section 4.7 above). The Contributors shall not sell any Development Property without first offering BNP the option to purchase such Development Property on the same terms as offered to a third party. BNP shall have 30 days to decide whether or not to purchase such Development Property on such terms. If BNP declines to exercise this option, the Development Property may be sold within the next 180 days on terms no more favorable than those presented to BNP. If the Development Property is not sold within such 180-day period, BNP will again have a right of first refusal prior to any sale of the Development Property. The decision whether to exercise such option with respect to any Development Property shall be made by the REIT's board of directors on a case-by-case basis with any director that is a Contributor or Affiliated with a Contributor abstaining from such decision.
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Future Development Rights. For so long as the Contributors beneficially own (directly or indirectly), in the aggregate, more than 5% of the REIT's outstanding securities (assuming the redemption of the Contributors' Units for shares of the REIT's common stock), BNP shall have a right of first refusal to acquire all future multi-family properties developed directly or indirectly by any Contributor, or any Affiliate thereof (a "Development Property") within a three-mile radius of the Property (such development being subject to the prior approval of BNP under Section 4.7 above). The Contributors shall not sell any Development Property without first offering BNP the option to purchase such Development Property on the same terms as offered to a third party. BNP shall have 30 days to decide whether or not to purchase such Development Property on such terms. If BNP declines to exercise this option, the Development Property may be sold within the next 180 days on terms no more favorable than those presented to BNP. If the Development Property is not sold within such 180-day period, BNP will again have a right of first refusal prior to any sale of the Development Property. The decision whether to exercise such 177 option with respect to any Development Property shall be made by the REIT's board of directors on a case-by-case basis with any director that is a Contributor or Affiliated with a Contributor abstaining from such decision. Without limiting the foregoing, on and after the Closing Date, BNP shall have a right of first refusal to acquire any multi-family property developed on the land located adjacent to the Property and designated as "Phase 3" on Schedule 4.8 attached hereto. The Contributors shall not sell or transfer Phase 3 without first offering BNP the option to purchase such Phase on the same terms as offered to a third party. BNP shall have 30 days to decide whether or not to purchase such Phase on such terms. If BNP declines to exercise this option, Phase 3 may be sold within the next 180 days on terms no more favorable than those presented to BNP. If Phase 3 is not sold within such 180-day period, BNP will again have a right of first refusal prior to any sale of Phase 3. The decision whether to exercise such option with respect to Phase 3 shall be made by the REIT's board of directors with any director that is a Contributor or Affiliated with a Contributor abstaining from such decision.
Sample 1
Future Development Rights. Any and all rights to develop Additional Generating Units (other than STP 3 and STP 4) including all rights under the Participation Agreement with respect thereto (the “Future Development Rights”); and
Sample 1

Related to Future Development Rights

  • Development Rights The Employee agrees and declares that all proprietary information including but not limited to trade secrets, know-how, patents and other rights in connection therewith developed by or with the contribution of Employee's efforts during his employment with the Company shall be the sole property of the Company. Upon the Company's request (whenever made), Employee shall execute and assign to the Company all the rights in the proprietary information.

  • Research License Each Collaborator shall allow the other Collaborator to practice any of its Non- Subject Inventions for the purpose of performing the Cooperative Work. No license, express or implied, for commercial application(s) is granted to either Collaborator in Non-Subject Inventions by performing the Cooperative Work. For commercial application(s) of Non-Subject Inventions, a license must be obtained from the owner.

  • Background Technology List here prior contracts to assign Inventions that are now in existence between any other person or entity and you. [ ] List here previous Inventions which you desire to have specifically excluded from the operation of this Agreement. Continue on reverse side if necessary.

  • Development Program A. Development activities to be undertaken (Please break activities into subunits with the date of completion of major milestones)

  • Development Work The Support Standards do not include development work either (i) on software not licensed from CentralSquare or (ii) development work for enhancements or features that are outside the documented functionality of the Solutions, except such work as may be specifically purchased and outlined in Exhibit 1. CentralSquare retains all Intellectual Property Rights in development work performed and Customer may request consulting and development work from CentralSquare as a separate billable service.

  • Condominiums/Planned Unit Developments If the Mortgaged Property is a condominium unit or a planned unit development (other than a de minimis planned unit development) such condominium or planned unit development project such Mortgage Loan was originated in accordance with, and the Mortgaged Property meets the guidelines set forth in the Originator's Underwriting Guidelines;

  • Collaboration We believe joint effort toward common goals achieves trust and produces greater impact for L.A. County’s youngest children and their families.

  • Development and Commercialization Subject to Sections 4.6 and 4.7, Fibrocell shall be solely responsible for the development and Commercialization of Fibrocell Products and Improved Products. Fibrocell shall be responsible for all costs incurred in connection with the Fibroblast Program except that Intrexon shall be responsible for the following: (a) costs of establishing manufacturing capabilities and facilities in connection with Intrexon’s manufacturing obligation under Section 4.6 (provided, however, that Intrexon may include an allocable portion of such costs, through depreciation and amortization, when calculating the Fully Loaded Cost of manufacturing a Fibrocell Product, to the extent such allocation, depreciation, and amortization is permitted by US GAAP, it being recognized that the majority of non-facilities scale-up costs cannot be capitalized and amortized under US GAAP); (b) costs of basic research with respect to the Intrexon Channel Technology and Intrexon Materials (i.e., platform improvements) but, for clarity, excluding research described in Section 4.7 or research requested by the JSC for the development of a Fibrocell Product or an Improved Product (which research costs shall be reimbursed by Fibrocell); (c) [*****]; and (d) costs of filing, prosecution and maintenance of Intrexon Patents. The costs encompassed within subsection (a) above shall include the scale-up of Intrexon Materials and related active pharmaceutical ingredients for clinical trials and Commercialization of Fibrocell Products undertaken pursuant to Section 4.6, which shall be at Intrexon’s cost whether it elects to conduct such efforts internally or through Third Party contractors retained by either Intrexon or Fibrocell (with Intrexon’s consent).

  • Management Rights 3.01 The Union acknowledges that all management rights and prerogatives are vested exclusively with the Employer and without limiting the generality of the foregoing; it is the exclusive function of the Employer:

  • Research Support opioid abatement research that may include, but is not limited to, the following:

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