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

• PREGNANCY AND PARENTAL LEAVE TEACHER-FUNDED LEAVE EARLY RETIREMENT INCENTIVE PLAN I PRINCIPAL’S ASSISTANTS LIAISON COMMITTEE DURATION AND RENEWAL CRIMINAL RECORDS CHECK PREGNANCY AND PARENTAL LEAVE LETTER OF UNDERSTANDING Extra LETTER OF UNDERSTANDING Teacher Development Account LETTER OF UNDERSTANDING Salary Re-Opener ARTICLE PURPOSE It is the purpose and intent of the Parties to maintain harmonious relationships between the Board and each Teacher in the bargaining unit.

• Any unclaimed amounts which could otherwise have been paid to Teachers shall be retained by the Elementary Teachers' Federation of Ontario Superior-Greenstone Local to be subsequently used for professionaI development The Union shall submit a written report and a general accounting of funds to the Board annually, on or before June until the Teacher Development Account funds are exhausted.

• The proceeds of such sales, less any amounts paid to the Trustee in reimbursement of its advances, shall be credited to the Creation and Development Account.

• If the balance in the Principal Account is insufficient to make such withdrawal, the Trustee shall, as directed by the Depositor, advance funds in an amount required to fund the proposed withdrawal and be entitled to reimbursement of such advance upon the deposit of additional moneys in the Principal Account, and/or sell Securities and credit the proceeds thereof to the Creation and Development Account.

• Letter of Understanding -between- The Superior-Greenstone District School Board -and- The Elementary Teachers' Federation of Ontario Re: Teachers Development Account A one-time allowance for each-full Teacher shall be provided by the Ministry of Education.

More Definitions of Development Account

Development Account has the meaning given to that term in Section 4.01(k).

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

Development Account has the meaning set forth in Section 9.4.4.

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 an interest bearing account to be established and administered by THT pursuant to Clause 7;

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

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