Common use of Subsequent updates Clause in Contracts

Subsequent updates. An updated TIA shall be submitted in December 2015 or when the total built square footage with the Carolina North Project reaches 800,000 square feet of total building floor space, whichever occurs first. Thereafter, additional TIA updates shall be submitted upon a schedule mutually agreed upon by the Town and University, provided that an update shall be submitted no less frequently than every five years. If there has not been substantial development on the Carolina North Project in the period since the previously completed TIA, the University may request that the Manager approve a revised schedule or a modification in the scope of the TIA.

Subsequent updates. An updated TIA shall be submitted in December 2015 or when the total built square footage with the Carolina North Project reaches 800,000 square feet of total building floor space, whichever occurs first. Thereafter, additional TIA updates shall be submitted upon a schedule mutually agreed upon by the Town and University, provided that an update shall be submitted no less frequently than every five years. years If there has not been substantial development on the Carolina North Project in the period since the previously completed TIA, the University may request that the Manager approve a revised schedule or a modification in the scope of the TIA.