Other AMLI Phase 1 Terms Sample Clauses

Other AMLI Phase 1 Terms. (i) In order to consistently maintain a Class A mixed-use XXX project to City’s standards throughout the term of the ground lease, AMLI (or future tenant) may be required to make capital improvements from time to time. After the first ground rent reset, AMLI will have the right, with City’s approval, not to be unreasonably withheld, to offset the cost of certain capital improvements in excess of $1 million (as adjusted for inflation) against the annual ground lease rent once every 10 years. The amount of offset shall not exceed the ground rent in the year the capital improvement project is undertaken. The offset assumes AMLI (or future tenant) has spent the first $1 million and will be paid on any amounts above the first $1 million. A detailed description of allowable capital improvement projects will be further defined in the ground lease. (ii) If City elects to offer its fee interest in the residential or retail/restaurant/entertainment parcel for sale, then AMLI will have the right of first refusal (ROFR) to purchase the fee simple interest in such parcels at the determined fair market value (FMV) to be further defined in the Definitive Agreements. (iii) AMLI will be prohibited from transferring its interest in the ground lease for a period of 10 years after the ground lease commencement date without City’s approval unless to a qualified owner, such as an institutional owner having similar experience managing over 1 million square feet of similar “Class A” XXX, mixed-use developments or ownership of over $500 million of “Class A” multifamily properties (to be further defined in the ground lease). (iv) The timelines and deadlines in the ground leases and other Definitive Agreements shall be subject to change based on events of force majeure and other unforeseen circumstances outside of AMLI’s reasonable control which affect construction progress (to be defined in the Definitive Agreements). (v) AMLI will be responsible for having a Master Streetscape Development Plan (“Streetscape Plan”) prepared for the retail, park, and streetscape plan in the surrounding areas from the North Dallas Tollway to Addison Road and from Addison Circle to Beltline Road. The goal of this Streetscape Plan would be to enhance and promote the retail and transit experience to “Complete the Circle.” This will include but is not limited to tree relocation along Festival Way, burying power lines along +/- 150’ of Quorum Drive, and the realignment of Spectrum Road. Other potential im...
Sample 1
AutoNDA by SimpleDocs
Other AMLI Phase 1 Terms. (i) City will contribute an amount not-to-exceed $3,400,000 for the construction of public parking upon Lot 3, Block A (the Tower parcel). The public parking will be constructed by AMLI as a portion of the Tower parking garage. The public parking will be in a location mutually agreed upon between AMLI and the City, provided, all public parking will be reasonably accessible for retail users and all other patrons of the Addison Circle development. The public portion of the garage will include a minimum number of public parking spaces equivalent to the percentage of the City’s contribution proportionate to the total cost to construct the garage. For example purposes only, if AMLI’s total cost to construct the garage is $10,000,000, then the number of public parking spaces would be equivalent to 34% of the total number of spaces in the garage ($3,400,000 / $10,000,000 = .34 (34%)). AMLI acknowledges that City intends to issue debt to fund the City’s contribution to construction of the public portion of parking garage and, to legally qualify as city-issued debt, the funds are required to be used for public infrastructure; meaning the public portion of parking garage shall be available for public use in the manner required by the terms of such financing. City and AMLI will enter into a one or more definitive parking agreements whereby AMLI will have certain management authority for, and be generally responsible for, construction, operation and maintenance of the parking garage, including all costs associated therewith. (ii) In order to consistently maintain a Class A mixed-use XXX project to City’s standards throughout the term of the ground lease, AMLI (or future tenant) may be required to make capital improvements from time to time. Ten years after the Rent Commencement Date, AMLI will have the right, with City’s approval, not to be unreasonably withheld, to offset the cost of certain capital improvements in excess of $1,000,000 (as adjusted for inflation) against the annual ground lease rent once every ten years. The amount of offset shall not exceed the ground rent in the year the capital improvement project is undertaken. The offset assumes AMLI (or future tenant) has spent the first $1,000,000 and will be paid on any amounts above the first $1,000,000. A detailed description of allowable capital improvement projects will be further defined in the ground lease. (iii) If City elects to offer its fee interest in the residential or retail/restaurant/entertainm...
Sample 1

Related to Other AMLI Phase 1 Terms

  • COMMENCEMENT OF WORK UNDER A SOW AGREEMENT Commencement of work as a result of the SOW-RFP process shall be initiated only upon issuance of a fully executed SOW Agreement and Purchase Order.

  • Agreement Terms The terms of the Agreement conform to University policy. The period of performance for the project is approximately one (1) year. The amount of funding support will not exceed $200,000. Since research projects are often amended, this agreement includes provisions for changes in time and scope. University procedures for approval of these changes will be followed and additional conflict of interest review will be done as appropriate.

  • Construction Phase Fee Contractor’s Construction Phase Fee is the maximum amount payable to Contractor for any cost or profit expectation incurred in the performance of the Work that is not specifically identified as being eligible for reimbursement by Owner elsewhere in this Agreement. References in the UGSC to Contractor’s “overhead” and “profit” mean Contractor’s Construction Phase Fee. The Construction Phase Fee includes, but is not limited to, the following items: 9.1 All profit, profit expectations and costs associated with profit sharing plans such as personnel bonuses, incentives, and rewards; company stock options; or any other like expenses of Contractor.

  • Preconstruction Phase The Preconstruction Phase shall mean the period commencing on the date of this CM/GC Contract and ending upon commencement of the Construction Phase; provided that if the Owner and CM/GC agree, the Construction Phase may commence before the Preconstruction Phase is completed, in which case both phases shall proceed concurrently, subject to the terms and conditions of the Contract Documents.

  • MODIFICATION OF CONTRACT TERMS The terms and conditions set forth in the Contract shall govern all transactions by Authorized User(s) under this Contract. The Contract may only be modified or amended upon mutual written agreement of the Commissioner and Contractor. The Contractor may, however, offer Authorized User(s) more advantageous pricing, payment, or other terms and conditions than those set forth in the Contract. In such event, a copy of such terms shall be furnished to the Authorized User(s) and Commissioner by the Contractor at the time of such offer. Other than where such terms are more advantageous for the Authorized User(s) than those set forth in the Contract, no alteration or modification of the terms of the Contract, including substitution of Product, shall be valid or binding against Authorized User(s) unless authorized by the Commissioner or specified in the Contract Award Notification. No such alteration or modification shall be made by unilaterally affixing such terms to Product upon delivery (including, but not limited to, attachment or inclusion of standard pre-printed order forms, product literature, “shrink wrap” terms accompanying software upon delivery, or other documents) or by incorporating such terms onto order forms, purchase orders or other documents forwarded by the Contractor for payment, notwithstanding Authorized User’s subsequent acceptance of Product, or that Authorized User has subsequently processed such document for approval or payment.

  • Contract Terms The contract term will be one (1) year, effective from date of award. The City and the Supplier shall have the option to renew this contract for an additional two (2) one-year periods. The contract shall commence upon the issuance of a Notice of Award by the City of Xxxxxx and shall automatically renew each year, from the date of award by City Council, unless either party notifies the other prior to the scheduled renewal date. At the sole option of the City of Xxxxxx, the contract may be further extended as needed, not to exceed a total of six (6) months.

  • Construction Phase Part 1 –

  • Commencement and Completion of Work The professional services to be performed pursuant to this Agreement shall commence within five (5) days from the Effective Date of this Agreement. Failure to commence work in a timely manner and/or diligently pursue work to completion may be grounds for termination of this Agreement.

  • TERM OF FRAMEWORK AGREEMENT The Framework Agreement shall take effect on the Commencement Date and (unless it is otherwise terminated in accordance with the terms of this Framework Agreement or it is otherwise lawfully terminated) shall terminate at the end of the Term.

  • Term of Contract The term of this Contract shall be one (1) year commencing on the last date of approval by DIR and Vendor. Prior to expiration of the original term, DIR and Vendor may extend the Contract, upon mutual agreement, for up to three (3) optional one-year terms. Additionally, the parties by mutual agreement may extend the term for up to ninety (90) additional calendar days.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!