Prior Development Costs Sample Clauses

Prior Development Costs. (a) Pavilion hereby represents and warrants to Ardee that attached hereto as Exhibit "D- 1" is a true, correct, complete and accurate schedule of all Development Costs paid by Pavilion through September 30, 1996. Ardee hereby represents and warrants to Pavilion that attached hereto as Exhibit "D-2" is a true, correct, complete and accurate schedule of all Development Costs which have been paid by Ardee through September 30, 1996. (b) All amounts paid for Development Costs prior to the execution hereof shall be deemed to have been contributed to the capital of the Partnership by the Partner that paid such amounts and shall be added to the balance of such Partner's Capital Account. (c) In order that the Partners, contributions for Development Costs paid prior to the execution of this Agreement will be in proportion to their respective Percentage Interests, the. following provisions shall apply: (1) Upon execution hereof, but subject to the provisions of clause (d) of this Section 5.04, Ardee shall contribute to the capital of the Partnership immediately available funds in the amount by which one-half of the Development Costs paid by Pavilion through September 30, 1996 (as reflected on Exhibit "D-1 attached hereto) exceeds all of the Development Costs paid by Ardee through September 30, 1996 (as reflected on Exhibit "D-2" attached hereto). (2) Upon final determination by the Partners of the amount of Development Costs paid by each between September 30, 1996 and the execution of this Agreement ("Pending Costs"), Ardee shall contribute to the capital of the Partnership immediately available funds in the amount by which one-half of Pavilion's Pending Costs exceeds all of Ardee's Pending Costs. Amounts contributed to the capital of the Partnership by Ardee pursuant to this Section 5.04(c) shall be fully utilized by the Partnership to pay and discharge Development Costs before any Development Cost Notice is provided pursuant to Section 5.02(a) hereof. (d) Each Partner shall have the right to review the books, records, invoices and other supporting documentation relating, to the Development Costs paid by the other Partner through September 30, 1996 for a period of ninety (90) days following the execution of this Agreement (such ninety (90) day period being herein called the "Review Period"). If, as a result of the review of such books, records, invoices and other documentation during, the Review Period, one of the Partners disputes the other Partner's determination...
Sample 1
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Prior Development Costs. Any Developer who has incurred any Development Cost, prior to execution of this Agreement, relating to the Project Company paid by such Developer directly to a third party owed such Development Cost, shall within a period of fifteen (15) days from the Effective Date, submit proof of such payment to the Board of Directors of the Project Company and request its decision on whether such Development Cost must be included in the Approved Development Cost. The Board of Directors of the Project Company will make its determination as to such Development Cost and decide whether to acknowledge that same is an Approved Development Cost by delivering a mutually agreeable form to the Developer within fifteen (15) days after receiving proof of such payment. Developer shall be reimbursed for such Approved Development Cost in the manner provided herein, provided that, no Developer will be obligated to be reimbursed any costs or expenses that are not Approved Development Cost. - 15 - (c) Approved Development Costs. The amount allocated for each Development Cost category in the Project Budget (and the timing for incurrence of such Development Cost) is an estimate and may exceed the budgeted amount for such category (or vary from the time scheduled for the incurrence of the Development Cost) to the extent approved by the Board of Directors of the Project Company. All Development Costs must be calculated and agreed to by the Board of Directors of the Project Company in an open book manner. Within sixty (60) days from receipt of a written request for approval to incur a Development Cost, the Board of Directors of the Project Company will determine, based both on the type of Development Cost and the time for the incurrence of such Development Cost, whether the Development Cost is eligible for reimbursement in accordance with the Project Budget and this Agreement, and if so eligible, the Board of Directors of the Project Company will provide a written authorization for the Project Company to incur such Development Cost (such Development Cost so authorized to be incurred by the Project Company, an “Approved Development Cost”).
Sample 1
Prior Development Costs. Any Developer who has incurred any Development Cost, prior to execution of this Agreement, relating to the Project Company paid by such Developer directly to a third party owed such Development Cost, shall within a period of fifteen (15) days from the Effective Date, submit proof of such payment to the Board of Directors of the Project Company and request its decision on whether such Development Cost must be included in the Approved Development Cost. The Board of Directors of the Project Company will make its determination as to such Development Cost and decide whether to acknowledge that same is an Approved Development Cost by delivering a mutually agreeable form to the Developer within fifteen (15) days after receiving proof of such payment. Developer shall be reimbursed for such Approved Development Cost in the manner provided herein, provided that, no Developer will be obligated to be reimbursed any costs or expenses that are not Approved Development Cost.
Sample 1
Prior Development Costs. Ultragenyx will pay the Prior Development Costs in accordance with Section 6.7.
Sample 1

Related to Prior Development Costs

  • Development Costs Licensee shall be responsible for all of its costs and expenses in connection with the Development of, and obtaining and maintaining Regulatory Approvals for, the Licensed Products in the Field in the Territory.

  • Project Costs Simultaneously with the execution of this Agreement, the Company shall disclose to the Department all of the Project Costs which the Company seeks to include for purposes of determining the limitation of the amount of the Credit pursuant to Section 5-30 of the Act and provide to the Department a Schedule of Project Costs in the form as attached hereto as Exhibit C.

  • Development Budget Attached hereto as Exhibit "B" and incorporated herein by this reference is the Development Budget in an amount equal to $_____________. Owner acknowledges and represents that the attached Development Budget includes the total costs and expenses to acquire, develop, renovate and construct the Real Property and the Apartment Housing.

  • Project Cost Overruns In the event that the Recipient determines that the moneys granted pursuant to Section II hereof, together with the Local Subdivision Contribution, are insufficient to pay in full the costs of the Project, the Recipient may make a request for supplemental assistance to its District Committee. The Recipient must demonstrate that such funding is necessary for the completion of the Project and the cost overrun was the result of circumstances beyond the Recipient's control, that it could not have been avoided with the exercise of due care, and that such circumstances could not have been anticipated at the time of the Recipient's initial application. Should the District Committee approve such request the action shall be recorded in the District Committee's official meeting minutes and provided to the OPWC Director for the execution of an amendment to this Agreement.

  • Development Fees 1. To assist the City in meeting expenses resulting from ongoing development, Owner shall pay development fees as follows, as set forth in the Tables below. These amounts are those in effect upon the execution of this Agreement and are subject to the annual Adjustment Factor, as defined herein, implemented each subsequent year on July 1, beginning July 1, 2023. Table A DEVELOPMENT FEES AMOUNT DEVELOPMENT FEES AMOUNT DEVELOPMENT FEES AMOUNT 2. All Table A and Table B Development Fees shall be collected at the time of obtaining a building permit and placed in separate interest bearing accounts established for each of the designated categories (i.e. Police, Fire, Recreation, Public Works and Community Facilities). The City may expend the development funds for any purposes designed to provide 3. Notwithstanding any provision to the contrary contained within this Agreement, the Development Fees are being paid in lieu of any other impact fees, development fees or any other similar fees presently existing or adopted by the City at any time hereafter during the term of this Agreement; provided, however, the Owner and/or Developer(s) shall be subject to the payment of any and all present or future permitting fees enacted by the City that are of City-wide application and that relate to processing applications, development permits, building permits, review of plans, or inspections (but no other capital improvement related impact, development or other extractions). 4. Except as set forth in this Agreement, nothing herein shall be construed as relieving the Owner, Developer, a Secondary Developer, a Builder, or their successors, and assigns, from payment of any such fees or charges as may be assessed by entities other than the City. It is the intent of the parties that the fees and obligations contemplated by this Agreement are the only obligations which will be imposed upon the Property however, the provisions of this paragraph shall not preclude the City or another governmental authority from imposing a fee for services or improvements contemplated under this Agreement which are imposed on a consistent basis throughout the area regulated by such governmental authority imposing such obligations. The City or other governing body shall not be precluded by this Agreement from charging fees for delivery of services to citizens or residents (i.e., an EMS response fee or the like), nor from charging fees statutorily authorized in the future (i.e., a real estate transfer fee or the like) which are not collected as a prerequisite to approval of a plat, plan, or construction. The City shall, at Owner/Developer’s request, together with Owner/Developer, challenge any developer fee, impact fee or other obligation imposed by other governmental authorities to the extent that such fees or obligations are not specifically permitted to be imposed pursuant to the terms of this Agreement. 5. The parties hereto recognize that Jasper County may, now or in the future, impose certain development impact fees upon the Property. The intent hereof is that the Owner shall not be charged in both jurisdictions for the same impact fee (development fee) categories, however, should a dispute arise as to whether Owner/Developer shall pay fees to the County or to the City, the Owner/Developer shall be responsible for settling such dispute with each party. The City shall not offset any development fee contained herein against such fees payable to Jasper County. The same principle shall apply regarding all applicable Development Fee categories hereunder, and any such future agreement shall not be deemed a material amendment or breach hereof. If the City becomes involved in litigation or challenge at the request of the Owner/Developer and/or the City becomes a party to ligitation or challenge at the request of the Owner/Developer, the Owner/Developer shall reimburse the City for all costs associated with such challenge and may be required to make a deposit of such in advance with the City. 6. Any Development Fees paid and/or credits for Development Fees with respect to property conveyed, services performed and/or money paid as provided in this Agreement may be assigned by the Owner and/or Developer(s) owning such credits and all such credits shall remain valid until utilized. The City shall recognize all such written assignments of such rights as long as the City has been given an opportunity to review such assignments for accuracy prior to such assignment and shall credit same against any Development Fees which are owed pursuant to this Agreement. 7. For those units that may qualify for Attainable Housing Reductions, the Owner, or authorized agent, shall pay the Table A City Development Fees upon the issuance of a building permit. At the time a Certificate of Occupancy is granted, the Owner, or authorized agent, will provide to the City a copy of the sales contract. If the base sales price meets the criteria for Attainable Housing as defined herein, then the Owner, or authorized agent, is eligible for reduced Development Fees Upon submittal of a closing statement showing a qualifying base sales price, the City shall calculate the credit amount based upon the reduced amounts identified in Table A- 1. The reduced amount from the year shown on the closing statement shall apply. Owner, or authorized agent, may receive a refund for fees paid in excess or held as a credit for payment for future units. If Owner, or authorized agent, does not submit a request for refund within six (6) months of the closing, that Owner, or authorized agent, will no longer be eligible for the reduced Development Fees. Table B and Table C shall not qualify for Attainable Housing Reductions. 8. The Development Fees set forth in the Fee Chart are based upon 2022 figures. The Development Fee amounts shall be increased annually according to the Adjustment Factor. 9. The City, County, or other governmental entity, may establish, solely or in conjunction with each other, a Tax Increment, fee in lieu of tax (FILOT), Multi-County Business Park, or any other special tax district or financing vehicle authorized by applicable provisions of the Code of Laws of South Carolina (1976), as amended, which does not impose additional ad valorem taxes or assessments against the Project. The establishment by the City, County, or other governmental entity, solely or in conjunction with each other, of a special tax district or financing vehicle authorized by applicable provisions of the Code of Laws of South Carolina (1976), as amended, which increases the assessments within the Property solely, shall require the consent of the Owner or Secondary Developer unless such increase is otherwise expressly permitted pursuant to the terms of this Agreement. It is acknowledged that at the written election of Owner, a Municipal Improvement District may be implemented with the consent of the City for the Project as set forth in this Agreement. 10. Owner agrees to pay the actual costs and reasonable, actual expenses of the City’s consultants and professionals incurred in negotiating, processing and evaluating the Development Agreement, as amended hereby, the PDD, and any other related documents (i.e. Assignments and Estoppel letters) as contemplated and provided for in this Agreement. City will provide sufficient documentation of these charges. Owner shall pay such fees within sixty (60) days of the delivery by City of the invoice(s).

  • Annual Work Plans and Budgets The Recipient shall furnish to the Association as soon as available, but in any case not later than September 1 of each year, the annual work plan and budget for the Project for each subsequent year of Project implementation, of such scope and detail as the Association shall have reasonably requested, except for the annual work plan and budget for the Project for the first year of Project implementation, which shall be furnished no later than one (1) month after the Effective Date.

  • Patent Costs Within 30 days after receiving a statement from Stanford, ***** will reimburse Stanford: (A) $ to offset Licensed Patent’s patenting expenses, including any interference or reexamination matters, incurred by Stanford before the Effective Date; and (B) for all Licensed Patent’s patenting expenses, including any interference or reexamination matters, incurred by Stanford after the Effective Date. In all instances, Stanford will pay the fees prescribed for large entities to the United States Patent and Trademark Office.

  • Subcontract Costs Payments made by the Construction Manager to Subcontractors in accordance with the requirements of the subcontracts and this Agreement.

  • Development Fee A fee for the packaging of a Property or Mortgage, including the negotiation and approval of plans, and any assistance in obtaining zoning and necessary variances and financing for a specific Property, either initially or at a later date.

  • Research Project The findings of any research project, which would change the provisions of this Agreement will not be implemented until such changes are negotiated and agreed to by the parties.

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