Obligation to Build. 9.1 If the PROPERTY is a vacant erf, the PURCHASER undertakes that the erection of a house on the PROPERTY will commence within 2 (two) years of the date of registration of transfer of the PROPERTY in the name of the person who purchased the PROPERTY in the first instance from the DEVELOPER or such extended date recorded in Clause 1.16, and will be completed within 12 (twelve) months from such commencement. The house shall be regarded as being completed upon the issue of an occupational certificate by the Local Authority and the ASSOCIATION or its nominee whereafter the PURCHASER shall be entitled to take occupation of the improvements on the PROPERTY.
9.2 Should the PURCHASER fail or neglect to erect a house within the period stipulated in Clause 9.1, the DEVELOPER or its nominee shall have the right at any time after the expiry of the prescribed period, to repurchase the PROPERTY from the PURCHASER on the following terms and conditions:
9.2.1 The DEVELOPER shall exercise its right by written notice to the PURCHASER’S chosen domicilium in terms of Clause 21 hereof;
9.2.2 Should there be no improvements on the PROPERTY, the purchase price shall be an amount equal to the PURCHASE PRICE at which the PURCHASER acquired the PROPERTY;
9.2.3 Should the PROPERTY have been improved, the purchase price shall be an amount equal to the PURCHASE PRICE at which the PURCHASER acquired the PROPERTY plus the cost to the PURCHASER of the improvements or the value of the improvements as they stand, whichever is the lower, less the costs of transferring the PROPERTY to the DEVELOPER. The cost or the value of the improvements shall be determined by a quantity surveyor appointed by the DEVELOPER, whose decision shall be final and binding on the PARTIES and who, in arriving at such decision, shall have acted as an expert and not an arbitrator.
9.3 Should the DEVELOPER exercise its rights in terms of Clause 9.2:
9.3.1 The full purchase price will be paid to the PURCHASER on registration of transfer of the PROPERTY to the DEVELOPER;
9.3.2 The profit realised by the DEVELOPER on the resale of the PROPERTY after deduction of its expenses, shall be paid into the banking account of the ASSOCIATION for the benefit of the OWNERS;
9.3.3 Transfer of the PROPERTY shall be registered by the DEVELOPER’S Attorneys as soon as possible after the DEVELOPER has exercised its rights in terms of Clause 9.2;
9.3.4 All risk, benefit, and occupation of the PROPERTY will, in this case, be given to the...
Obligation to Build. Relationship to the PJM Control Area Open Access Transmission PJM Tariff............... 5 SCHEDULE 7 - UNDERFREQUENCY RELAY OBLICATIONS AND CHARGES........................................... 1 1.
Obligation to Build. Both parties agree to use their best efforts to install the Cable on the Route according to a schedule to be subsequently agreed upon by the parties but in any case by September 27, 1999. The parties' obligations under this Section 4.4 shall be subject to manufacturing or supplier delays, governmental regulatory delays and delays caused by NU as a supplier of services or layout equipment under the terms of this Agreement or as a result of NU's obligation to maintain reliable electric service.
Obligation to Build. (a) Subject to the requirements of applicable law, government regulations and approvals, including, without limitation, requirements to obtain any necessary state or local siting, construction and operating permits, to the availability of required financing, to the ability to acquire necessary right- of-way, and to the right to recover, pursuant to appropriate financial arrangements and tariffs or contracts, all reasonably incurred costs, plus a reasonable return on investment, Regional Transmission Owners designated as the appropriate entities to construct and own or finance enhancements or expansions specified in the Regional Transmission Expansion Plan shall construct and own or finance such facilities or enter into appropriate contracts to fulfill such obligations.
(b) Nothing herein shall prohibit any Regional Transmission Owner from seeking to recover the cost of enhancements or expansions on an incremental cost basis or from seeking approval of such rate treatment from any regulatory agency with jurisdiction over such rates.
Obligation to Build. 5 4.5 Cable Measurement...............................................................................5 4.6 Other Cables/Facilities.........................................................................5 4.7 Warranty........................................................................................5 4.8 Reservation of Security Interest................................................................6
Obligation to Build. Both parties agree to use their best efforts to install the Cable on the Route according to a schedule to be subsequently agreed upon by the parties but in any case by September 27, 1999. The parties' obligations under this Section 4.4 shall be subject to manufacturing or supplier delays, governmental regulatory delays and delays caused by the Grantor as a supplier of services or equipment under the terms of this Agreement or as a result of the Grantor's obligation to maintain reliable electric service. Subsequent to the date of execution of this Amended and Restated Agreement, the rights and obligations of the parties set forth in this Section 4.4 shall be governed by the Phase Two Agreement.
Obligation to Build. Subject to the requirements of applicable law, government regulations and approvals, including, without limitation, requirements to obtain any necessary state or local siting, construction and operating permits, to the availability of required financing, to the ability to acquire necessary right- of-way, and to the right to recover, pursuant to appropriate financial arrangements and tariffs or contracts, all reasonably incurred costs, plus a reasonable return on investment, Regional Transmission Owners designated as the appropriate entities to construct and own or finance enhancements or expansions specified in the Regional Transmission Expansion Plan shall construct and own or finance such facilities or enter into appropriate contracts to fulfill such obligations.
Obligation to Build. (a) Subject to the requirements of applicable law, government regulations and approvals, including, without limitation, requirements to obtain any necessary state or local siting, construction and operating permits, to the availability of required financing, to the ability to acquire necessary right-of-way, and to the right to recover, pursuant to appropriate financial arrangements and tariffs or contracts, all reasonably incurred costs, plus a reasonable return on investment, Transmission Owners or Designated Entities designated as the appropriate entities to construct, own and/or finance enhancements or expansions specified in the Regional Transmission Expansion Plan shall construct, own and/or finance such facilities or enter into appropriate contracts to fulfill such obligations. Except as provided in Operating Agreement, Schedule 6, sSection 1.5.8(k) of this Schedule 6, nothing herein shall require any Transmission Owner to construct, finance or own any enhancements or expansions specified in the Regional Transmission Expansion Plan for which the plan designates an entity other than a Transmission Owner as the appropriate entity to construct, own and/or finance such enhancements or expansions.
(b) Nothing herein shall prohibit any Transmission Owner from seeking to recover the cost of enhancements or expansions on an incremental cost basis or from seeking approval of such rate treatment from any regulatory agency with jurisdiction over such rates.
(c) The Office of the Interconnection shall be obligated to collect on behalf of the Transmission Owner(s) or Designated Entity(ies) all charges established under Tariff, Schedule 12 of the PJM Tariff in connection with facilities which the Office of the Interconnection designates one or more Transmission Owners or Designated Entity(ies) to build pursuant to this Regional Transmission Expansion Planning Protocol. Such charges shall compensate the Transmission Owner(s) or Designated Entity(ies) for all costs related to such RTEP facilities under a FERC-approved rate and will include any FERC-approved incentives.
(d) In the event that a Transmission Owner declines to construct an economic transmission enhancement or expansion developed under Sections 1.5.6(d) and 1.5.7 of this Schedule 6 that such Transmission Owner is designated by the Regional Transmission Expansion Plan to construct (in whole or in part), the Office of the Interconnection shall promptly file with the FERC a report on the results of the pert...
Obligation to Build. 10.1 The Purchaser is aware that by purchasing said property as per schedule the purchaser is buying into a phased development and is obliged to erect a home on the property purchased.
10.2 The Seller will carry on the building operations as per a building agreement which agreement will be signed by the parties within a maximum of 30 days of signature hereof.
10.3 In order to limit the traffic into the development for security reasons it is agreed that the Seller will construct the home for the Purchaser. The Purchaser acknowledges that the convenience in limiting the contractor traffic outweighs the limitation on his right of choice as provided for in section 13 of the Consumer Protection Act 68 of 2008.
Obligation to Build. 4.2.1 Subject to: (i) the requirements of applicable law, government regulations and approvals, including, without limitation, requirements to obtain any necessary state or local siting, construction and operating permits; (ii) the availability of required financing;
