Responsibilities and Obligations of the Developer Sample Clauses

Responsibilities and Obligations of the Developer. The Developer agrees to the following:
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Responsibilities and Obligations of the Developer. (a) Developer shall use its commercially reasonable efforts to construct, or cause to be constructed on the Income-Qualified Home Ownership Parcel the quantity and types of units as set forth in Exhibit A. The City and the Developer have a mutual goal for at least 51% of the units to be sold to income qualified buyers (the “IQ Goal”). As of the Effective Date, this appears possible. Cost escalations may force a change in ratio as the project unfolds or if the market rate units generate less revenue than anticipated, and the Parties shall work in good faith to modify the Income-Qualified Home Ownership Project in such eventuality. For purposes of this Agreement, good faith shall mean the Parties will meet during the construction of Phase 1 of the Income-Qualified Home Ownership Project to determine if the IQ Goal can be met or needs to be adjusted based on the expense of constructing Phase 1.
Sample 1
Responsibilities and Obligations of the Developer. Developer shall cause the Property to be developed in accordance with the Approval such that the 2.5 acres of additional Parkland is created with the development of the Property and that such Parkland is preserved pursuant to the plat associated with the Subdivision.
Sample 1

Related to Responsibilities and Obligations of the Developer

  • RIGHTS AND OBLIGATIONS OF THE CUSTOMER 5.1. The Customer shall:

  • Duties and Obligations The Administrative Agent shall not have any duties or obligations except those expressly set forth in the Loan Documents. Without limiting the generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b) the Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated by the Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.02), and, (c) except as expressly set forth in the Loan Documents, the Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to any Loan Party or any Subsidiary that is communicated to or obtained by the bank serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not be liable for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.02) or in the absence of its own gross negligence or willful misconduct as determined by a final nonappealable judgment of a court of competent jurisdiction. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until written notice thereof is given to the Administrative Agent by the Borrower or a Lender, and the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with any Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or in connection with any Loan Document, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth in any Loan Document, (iv) the validity, enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument or document, (v) the creation, perfection or priority of Liens on the Collateral or the existence of the Collateral, or (vi) the satisfaction of any condition set forth in Article IV or elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent.

  • RIGHTS AND OBLIGATIONS OF THE PARTIES 13.2.1 The client shall be under obligation:

  • Rights and Obligations of Parties The rights and obligations of each of the parties in any of the property of either or both of them whenever and wherever acquired or located; [PL 1995, c. 694, Pt. B, §2 (NEW); PL 1995, c. 694, Pt. E, §2 (AFF).]

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