Redeveloper Designation Sample Clauses

Redeveloper Designation. The Township hereby designates and appoints the Redeveloper as the exclusive redeveloper of the Property. The Redeveloper has the exclusive right to perform development and redevelopment activities in connection with the Project, and to retain the profits derived therefrom, under the framework and in accordance with the terms of this Agreement, the Redevelopment Plan, and all Applicable Laws.
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Redeveloper Designation. The Township hereby designates and appoints the Redeveloper as the exclusive redeveloper of the Project Site, which designation and the execution of this Agreement was authorized by Council Resolution adopted on December 5, 2023. The Redeveloper shall have the exclusive right to perform development and redevelopment activities in connection with the Project, and to retain the profits derived therefrom, under the framework and in accordance with the terms of this Agreement, the Redevelopment Plan, and all Applicable Laws.
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Redeveloper Designation. The Township hereby reconfirms its designation and appointment of the Redeveloper as the exclusive redeveloper for the Phase 1 Project on the Edison Battery Parcels. As a result, and subject to the terms of this Agreement, the Redeveloper (or other permitted assignees as defined in Article VIII below) shall have the exclusive right to perform development and redevelopment activities in connection with the Phase 1 Project, and to retain the profits derived therefrom, under the framework and in accordance with the terms of this Agreement, the Redevelopment Plan, and all Applicable Laws.
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Redeveloper Designation. The Township hereby conditionally designates and appoints the Redeveloper as the exclusive redeveloper of the Township-Owned Property and of the Project Parcels. Upon satisfaction of the PILOT Contingency and the Infrastructure Construction Agreement Contingency, the Redeveloper (acting directly or through one or more of the GP Affiliates or other permitted assignees as defined in Article VIII below) shall have the exclusive right to perform development and redevelopment activities in connection with the Project, and to retain the profits derived therefrom, under the framework and in accordance with the terms of this Agreement, the Redevelopment Plan, and all Applicable Laws.
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Redeveloper Designation. The Parties agree that as of the date hereof, the designation of Prism Green as redeveloper of the Phase 1 Project is hereby rescinded. The Township hereby reconfirms its designation of Prism Green as the exclusive redeveloper for the Revised Project. As a result, and subject to the terms of this Agreement, Prism Green shall have the exclusive right to perform development and redevelopment activities in connection with the Revised Project, under the framework and in accordance with the terms of this Modification Agreement, the Redevelopment Agreement, the Redevelopment Plan, and all Applicable Laws.
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Redeveloper Designation. The LCRA hereby selects the Redeveloper to perform or cause the performance of the Work in accordance with the Proposal and this Agreement. To the extent of any inconsistency between the foregoing, the parties agree that this Agreement shall govern.
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Redeveloper Designation. The Borough hereby designates and appoints the Redeveloper to serve as the exclusive redeveloper of the Property in accordance with the LRHL. In connection with such designation and appointment, the Redeveloper has the exclusive right and obligation to perform development and redevelopment activities on the Property under the framework and in accordance with the terms of this Agreement the Redevelopment Plan, and all applicable laws.
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Related to Redeveloper Designation

  • Declaration of Trust The Owner Trustee hereby declares that it will hold the Owner Trust Estate in trust upon and subject to the conditions set forth herein for the use and benefit of the Certificateholders, subject to the obligations of the Trust under the Transaction Documents. It is the intention of the parties hereto that (i) the Trust constitute a statutory trust under the Statutory Trust Statute and that this Trust Agreement constitute the governing instrument of such statutory trust and (ii) solely for income and franchise tax purposes, the Trust shall be treated (A) if it has one beneficial owner, as a non-entity and (B) if it has more than one beneficial owner, as a partnership, with the assets of the partnership being the Receivables and other assets held by the Trust, the partners of the partnership being the Certificateholders and the Notes constituting indebtedness of the partnership. Unless otherwise required by the appropriate tax authorities, the Trust shall file or cause to be filed annual or other necessary returns, reports and other forms consistent with the characterization of the Trust either as a nonentity or as a partnership for such tax purposes. Effective as of the date hereof, the Owner Trustee shall have all rights, powers and duties set forth herein and in the Statutory Trust Statute with respect to accomplishing the purposes of the Trust. The parties have caused the filing of the Certificate of Trust with the Secretary of State. If it is determined that, contrary to the intent of the parties hereto and the position of the Certificateholder, the Trust has “gross receipts” for purposes of the Margin Tax, it is the intention of the parties hereto that the Trust be treated as a “passive entity” for purposes of the Margin Tax, formed to hold assets to facilitate securitization transactions in a manner similar to grantor trusts and real estate mortgage investment conduits as defined by Section 860D of the Code. The Depositor, and the Certificateholders by acceptance of a Certificate, agree that if it is determined that, contrary to the intent of the parties hereto and the position of the Certificateholder, the Trust has “gross receipts” for purposes of the Margin Tax, they will, unless otherwise required by law, treat the Trust as a “passive entity” for purposes of the Margin Tax and will not, unless otherwise required by law, take any action to include the Trust as part of an affiliated group engaged in a unitary business (as such terms are used in the Margin Tax). Notwithstanding anything to the contrary contained herein, nothing in this Trust Agreement should be read to imply that the Trust is doing business in Texas or has sufficient nexus with Texas in order for the Margin Tax to apply to the Trust.

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