Development Account definition

Development Account means an account established in terms of section sixty-six; “development order” means a development order made in terms of section twenty-five;

Development Account means a full and proper accounting record of all Actual Development Costs and all Interim Development Income, to be maintained on an open book basis by the Developer in accordance with the terms of this Schedule;

Development Account means the return to be provided by the Owner to the Council such return to detail;(1) the independently audited account for the Development setting out the actual costs, expenditure and income from the Development(2) the Owner’s profit at [20%] of gross development value“Development Costs”means all actual costs incurred by the Owner in constructing the Development and which shall include:a. land acquisition costs and any SDLT b. legal fees and other professional fees in connection with land acquisition and plot salesc. costs of obtaining planning permission (including all legal and professional fees)d. construction and labour costs e. marketing costs f. interest payments on borrowing g. any costs associated with complying with the requirements of this Agreement and/or the conditions imposed on the Planning Permission“Disposal”means the disposal of the Owner’s interest by way of the sale of the freehold interest or the granting of a long leasehold interest and ‘Disposed of’ shall be construed accordingly“Overage Cap”means the sum equal to £[#### (#### pounds)]“Overage Payment”Means 50% of the amount of the Overage Value which shall be paid to Council“Overage Payment Date”means the first Working Day falling 20 Working Days after the date upon which Council confirm in writing that the Development Account is agreed and the amount of Overage Payment due.“Overage Trigger”Means any surplus amount in the Development Account when compared with the Viability Appraisal“Overage Value”Means the potential additional profit made by the Owner calculated in accordance with the following formula, namely;P = A – B – C Where; P = Overage Value (profit element) A = actual gross development value (i.e. receipts from actual sales)B = Development Costs C = Owner’s profit element in accordance with the [20%] of the gross development value set out in the Viability Appraisal [ and in the alternative should the Owner provide the Discount Market Housing Units the Owner’s profit] at [20]% Viability Appraisal means the [Plymouth City Council report named #### PCCReview Version Development Appraisal dated ####] which reviewed the Applicant’s viability report [dated August 2017] Viability FeeMeans the amount payable by the Owner towards the costs of obtaining the external review of the Development Account as advised by the CouncilWorking Day”Means a weekday which is neither a statutory bank holiday, nor Good Friday, nor any day falling between 22 December in any year and 2 January in the ...

Examples of Development Account in a sentence

• Effective January 15, 2015, $300,000 annualized amount to be dedicated to the establishment and operation of an Employee Training and Development Account, to be administered by the Human Resources Division.

• It is understood that any reimbursements of eligible member professional development expenses made under the Professional Development Account are non-taxable.

• This Article is to establish and describe Appropriate Uses, procedures for application, and requirements for management, accountability and expenditure of moneys from the Economic and Social Development Account established as part of the Indenture.

• Hydro and (or) Manitoba, and Canada shall pay to Split Lake Cree in aggregate the sum of twelve million, two hundred and one thousand dollars ($12,201,000.00) to fund the Economic and Social Development Account, in instalments, on the dates, and in accordance with the Financial Schedule.

• The Accountable Professional Development Account (APDA) is available to eligible members except those on unpaid leave.

More Definitions of Development Account

Development Account means account number 00000000 at the State Bank of NSW Spit Junction Branch styled "Golden Dolphin Productions Pty Ltd - AME CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION Development Account.

Development Account means the trust account forming part of the Granville Lake Mitigation Trust Fund, to be used for Community Development Projects.

Development Account means the account by that name in the Special Allocation Fund related to the Development Property.

Development Account the notional accrual maintained by the Developer for SW2 Enterprise Centre Development Costs in accordance with Part 1 of Schedule 10

Development Account has the meaning set forth in Section 4.1(a).

Development Account shall have the meaning set forth in Section 9.2 hereof.

Development Account has the meaning set forth in Section 9.4.4.