Deferred Development Payment definition

Deferred Development Payment means a sum equal to one-half of the per-
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Deferred Development Payment means a sum equal to one-half (1/2) of the per-acre cash bonus payment made for this Lease multiplied by the number of acres in the Outside Acreage.
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Examples of Deferred Development Payment in a sentence

  • For further information, please see the “Event Fees – Disclosure Document”.Estate Agency chargesThe costs of the estate agency service offered by ERL are covered by the Deferred Development Payment.

  • Notwithstanding anything in Article 3(B)(1) or 3(B)(2), this Lease may also be maintained in some cases after the Primary Term in accordance with Article 3(C) (Deferred Development Payment), Article 3(D) (Shut-In Payment) and Article 5 (Force Majeure and Suspending Event).

  • By payment of the Deferred Development Payment on or before each succeeding Anniversary Date, this Lease may be maintained as to Outside Acreage during the remainder of the Primary Term and up to two (2) years beyond the Primary Term.

  • The Deferred Development Payment shall maintain this Lease as to Outside Acreage until the next Anniversary Date.

Related to Deferred Development Payment

  • Economic development project means land and existing or planned improvements suitable for use by an industrial or commercial enterprise, or housing development, or the protection of the environment, including, but not limited to, groundwater or surface water. Economic development project includes necessary buildings, improvements, or structures suitable for and intended for or incidental to use as an industrial or commercial enterprise or housing development; and includes industrial park or industrial site improvements and port improvements or housing development incidental to an industrial or commercial enterprise; and includes the machinery, furnishings, and equipment necessary, suitable, intended for, or incidental to a commercial, industrial, or residential use in connection with the buildings or structures.

  • Planning Period means the 12 moths beginning June 1 and extending through May 31 of the following year, or such other period approved by the Members Committee.

  • Development Milestone Payment shall have the meaning set forth in Section 9.2(a).