Restriction on Development. A Vertical Developer’s failure to Commence or Complete Vertical Improvements in any Major Phase will not prevent or otherwise restrict Developer’s ability to Commence or Complete the Infrastructure in any Major Phase or Sub-Phase or any Vertical Developer’s ability to Commence or Complete the Vertical Improvements on any Lot; provided that the Agency shall be permitted in its sole and absolute discretion not to Approve any Assignment and Assumption Agreement (including but not limited to an Assignment and Assumption Agreement to Developer or Affiliates of Developer) for a Market Rate Lot in any Subsequent Major Phase, or not give a Vertical Approval for a Market Rate Lot in any Subsequent Major Phase (except for Lots previously Transferred by Developer to a Vertical Developer other than Developer or its Affiliates), if, following the execution of such Assignment and Assumption Agreement or Vertical Approval, less than twenty-five percent (25%) of the Unit Credits that Developer has obtained (and, with respect to Workforce Units, have not been forfeited in accordance with Section 2.5(b)(3)) from all Major Phases are Below- Market Rate Credits.
Restriction on Development. (1) Bluegreen agrees, on behalf of itself and its Affiliates, that neither Bluegreen nor any of its Affiliates shall participate directly or indirectly in the development, construction, ownership, sales, franchise, license, financing, management or operation of, or enter into any agreement regarding, any timeshare development, Resort Interest Program, Fractional Interest Development or timeshare project that: (A) (i) is similar in design to the Big Cedar Timeshare Project or the Red Rock Bluff Timeshare Project; (ii) is similar in theme to the Big Cedar Timeshare Project or the Red Rock Bluff Timeshare Project; or (iii) contains (or will contain) timeshare estates or interests (or portions thereof), units or other interests that are (or will be) marketed or sold at a price equal to or greater than the least expensive timeshare estates or interests (or portions thereof), units or other interests marketed or sold at the Big Cedar Timeshare Property or the Red Rock Bluff Timeshare Property; and (B) which is located or proposed to be located within the “Restricted Area.” “Restricted Area” shall mean the area located within fifty (50) miles from any point of the Big Cedar Timeshare Property or the Red Rock Bluff Timeshare Property.
Restriction on Development. Each of the Port Owners undertakes in respect of its Mortgaged Port that, where this would materially and adversely affect the value of its Mortgaged Port, it will not without the prior written consent of the Security Agent:-
(A) carry out or permit or suffer to be carried out any development (as defined in the Planning Acts) on such Mortgaged Port or any part thereof; or
(B) materially change or permit or suffer to be materially changed the use of such Mortgaged Port or any part thereof.
Restriction on Development. Grantor and its successors and assigns shall not, and shall prevent any others from, developing the Conservation Easement Area, or any portion of it, for any commercial, residential, or agricultural uses.
Restriction on Development. Subject to Sections 2.4 and 16, neither Party shall, directly or indirectly, work outside of this Project, either alone or with any third party not currently involved with the Project, on the development of a combination product containing both pentoxifylline and n-acetylcystein, for a period of seven (7) years from the Effective Date of this Agreement, whether by carrying on or engaging in or being concerned with or interested in or advising, lending money to, guaranteeing the debts or obligations of or permitting its name or any part thereof to be used or employed by, any person engaged in or concerned with or interested in any business that is directly competitive with the a combination product containing pentoxifylline and n-acetylcystein.
Restriction on Development. Subject to Sections 2.4 and 16, neither Party shall, directly or indirectly, work outside of this Project, either alone or with any third party not currently involved with the Project, on the development of a product containing sildenafil citrate, for a period of seven (7) years from the Effective Date of this Agreement, whether by carrying on or engaging in or being concerned with or interested in or advising, lending money to, guaranteeing the debts or obligations of or permitting its name or any part thereof to be used or employed by, any person engaged in or concerned with or interested in any business that is directly competitive with a product containing sildenafil citrate.
Restriction on Development. The first Subdivision Certificate for the Development cannot be issued until access to the Land approved by Council and RMS is complete and operational.
Restriction on Development. Owner agrees that resubdivision or replatting of the Property will require each platted lot, including the lot for the existing residence, to be served by an abutting tappable sized water main.
Restriction on Development. During the Term of this Agreement, neither Party shall, directly or indirectly, work outside the scope of this Agreement, either alone or with any Third Party, on the development or commercialization of any Competing Product whether by carrying on or engaging in or being concerned with or interested in or advising, lending money to, guaranteeing the debts or obligations of or permitting its name or any part thereof to be used or employed by, any person engaged in or concerned with or interested in any business that is directly competitive with the Product.
Restriction on Development. No certificate of occupancy will be issued on any portion of the Property until 00xx Xxxxxx has been constructed as a four-lane urban road as provided in paragraph 3 above.
