Subsequent Phases. The Parties acknowledge that additional phases may be accomplished over time and in a variety of configurations. If Developer elects to proceed with subsequent phases of the Phased Improvements, the Parties will meet and confer to amend the Lease to reflect any changes to the Scope of Development, Schedule of Performance and Phased Improvement Milestones, and Construction Schedules as incorporated in the Lease.
Subsequent Phases. The Members contemplate that their collaboration shall occur in three phases (Phase I, Phase II and Phase III) , but they are not making any commitment with respect to Phase II or Phase III. Phase I consists in the implementation of the transactions described in this Agreement and in the Operative Agreements. Phase II involves the [***] The Members acknowledge that Phase II and III involve the potential participation and consent of third parties who have expressed their interest in participating in Phase II and III (though none of them are committed to do so) and a number of issues that cannot be resolved at the time of the entry into force of this Agreement. Accordingly, the Parties are limiting their legally binding commitments to the transactions described in this Agreement and the Operative Agreements.
Subsequent Phases. The Members contemplate that their collaboration shall occur in three phases (Phase I, Phase II and Phase III) , but they are not making any commitment with respect to Phase II or Phase III. Phase I consists in the implementation of the transactions described in this Agreement and in the Operative Agreements. Phase II involves the manufacture of Bio-PBS by a Third Party and the exclusive distribution of Bio-PBS by NatureWorks. Phase III involves the construction and operation of a Bio-PBS plant, fully integrated with a bio-succinic acid plant, that would supply NatureWorks with its requirements of Bio-PBS. The Members acknowledge that Phase II and III involve the potential participation and consent of third parties who have expressed their interest in participating in Phase II and III (though none of them are committed to do so) and a number of issues that cannot be resolved at the time of the entry into force of this Agreement. Accordingly, the Parties are limiting their legally binding commitments to the transactions described in this Agreement and the Operative Agreements.
Subsequent Phases. Developed On-Site Recreational Facilities associated with subsequent Phases of MountainStar shall be constructed in accordance with the staging plan of a Site Development Plan(s) approved pursuant to Section 5.1 below.
Subsequent Phases. No later than sixty (60) days prior to any specific Closing Date for a Phase, Seller shall obtain and provide to Buyer an endorsement to the Title Commitment (or a new title commitment), updating the effective date thereof and providing that same is specifically for the then-current Phase to be closed. The endorsement or new commitment shall specifically include the legal description for the Phase to be closed and which title exceptions affect such Phase. Buyer shall have twenty (20) days after receipt of any such endorsement or new title commitment to give Seller written notice of any New Title Objections. “New Title Objections” means any Title Objections (a) that are based upon any exception appearing on any such endorsement or title commitment after the effective date of the title commitment upon which the immediately-prior notice of Title Objections was based and (b) that are not deemed Permitted Exceptions. Seller’s obligation to cure such New Title Objections shall be the same as provided in Subsection 6.2 above, with dates running from the date Seller receives any such subsequent notice of New Title Objections. The scheduled Closing date for the applicable Phase shall be extended as necessary to permit the running of all such cure and notice periods. Seller shall cause the Survey to reflect any new encroachments or other items revealed by any such New Title Objections and further as set forth in Subsection 6.2 above. Such updated Survey shall be obtained and provided to Buyer no later than thirty (30) days after Seller provides the endorsement or updated Title Commitment to Buyer.
Subsequent Phases. Pursuant to the Development Agreement, so long as Developer is not in default as to the acquisition and construction timelines, then within 30 days after Developer’s written request from time to time, City will use its best efforts to convey to Developer good and marketable title to one or more of the other Private Development Parcels as requested by Developer. Developer will acquire at least an additional 22,000 square feet of the Private Development Parcels by December 31, 2024, and at least another 16,500 square feet of the Private Development Parcels by December 31, 2031. The purchase price for the Private Developer Parcels shall be $12 per square foot of land area in the applicable Private Development Parcel(s) for take-downs exercised by Developer on or before December 31, 2025, with an annual positive or negative value adjustment (not to exceed 2.5% per annum) thereafter to be negotiated by City and Developer in connection with the Development Agreement. Developer’s right to acquire the Private Development Parcels will expire on the earlier of (a) failure to purchase the Private Development Parcels as set forth herein or in the Development Agreement, and develop such Private Development Parcels as set forth in the Development Agreement or other related agreement for the development of the Private Development Parcels, and (b) December 31, 2031. All such dates, including those as to Phase I, shall be extended on a day-for-day basis for any delay in the completion of the work described in Section VI or in the occurrence of the closing under the Purchase Agreement for the Lease Purchase Transaction.
Subsequent Phases. 8 c. Functional Specifications for Subsequent Phases. . . . . . . . . . .8 d.
Subsequent Phases. If the Bank is to be established in phases, the Bank Sponsor or Property Owner shall submit a written request to the USFWS for approval of each phase. Subsequent phases will need to comply with USFWS documentation requirements in effect on the date of submission of the complete documentation for the proposed phase. Establishment of each phase must be approved by the USFWS. In general subsequent phases will either meet the minimum establishment criteria or be adjacent to prior phases of the bank.
Subsequent Phases. Following the commencement of Phase One construction, BTX is entitled to purchase, and City shall convey fee title ownership of, the remainder of the property in phases, by special warranty deed, conditioned upon the following:
(i) Submittal of a development plan and schedule that is both substantially similar to the Concept Plan shown herein as Exhibit B and in accordance with this Agreement.
(ii) Reimburse the City for the pro-rata share of the Build-Ready Improvements for that correspond with each subsequent phase.
(iii) Compliance with the obligations under this Agreement.
(iv) Submittal of conveyance documents containing a duty and time frame for BTX to complete construction of approved Development components on the conveyed property with a right of revocation, deed restrictions, or right of City to repurchase to ensure compliance. No subsequent phase shall be burdened with a right of revocation, deed restrictions, or right of City to repurchase that is significantly different in terms than Phase One.
Subsequent Phases. No later than sixty (60) days prior to any specific Closing Date for a Phase, Seller shall obtain and provide to Buyer an endorsement to the Title Commitment (or a new title commitment), updating the effective date thereof and providing that same is specifically for the then-current Phase to be closed. The endorsement or new commitment shall specifically include the legal description for the Phase to be closed and which title exceptions affect such Phase. Buyer shall have twenty (20) days after receipt of any such endorsement or new title commitment to give Seller written notice of any New Title Objections. “New Title Objections” means any Title Objections (a) that are based upon any exception appearing on any such endorsement or title commitment after the effective date of the title commitment upon which the immediately-prior notice of Title Objections was based and (b) that are not deemed Permitted Exceptions. Seller’s obligation to cure such New Title Objections shall be the same as provided in