Development Advances definition

Development Advances has the meaning set forth in Section 2.

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Development Advances shall have the meaning set forth in Section 5.1 hereof.

Development Advances has the meaning set forth in Section 2. "Development Costs" means any and all costs and expenses necessary to (i) cause the construction of the Apartment Complex to be completed, in a good and workmanlike manner, free and clear of all mechanics', materialmen's or similar liens, in accordance with the Plans and Specifications, (ii) equip the Apartment Complex with all necessary and appropriate fixtures, equipment and articles of personal property (including, without limitation, refrigerators and ranges), (iii) obtain all required certificates of occupancy for the apartment units and other space in the Apartment Complex, (iv) pay the Development Fee, (v) finance the construction of the Apartment Complex and achieve the Completion Date in accordance with the provisions of the Project Documents, (vi) discharge all Partnership liabilities and obligations arising out of any casualty generating insurance proceeds for the Partnership, (vii) fund any Partnership reserves required hereunder or under any of the Project Documents, and (viii) pay any other costs or expenses necessary to achieve the Completion Date and Rental Achievement. "Specified Proceeds" means (i) the proceeds of all Mortgage Loans, (ii) the net rental income, if any, generated by the Apartment Complex prior to the Completion Date which is permitted by the Lenders to be applied to the payment of Development Costs, (iii) the Capital Contributions of the Investment Limited Partner and the Special Limited Partner, (iv) the Capital Contributions of the General Partner in the amounts set forth in Schedule A of the Partnership Agreement as of the Admission Date and (v) any insurance proceeds arising out of casualties occurring prior to the Completion Date. Section 2. "Obligation to Complete Construction" The Developer shall supervise the completion of the construction of the Apartment Complex or cause the same to be completed in a good and workmanlike manner, free and clear of all mechanics', materialmen's or similar liens and shall equip the Apartment Complex or cause the same to be equipped with all necessary and appropriate fixtures, equipment and articles of personal property, including without limitation, refrigerators and ranges, provided for in the Project Documents and the Plans and Specifications.

Examples of Development Advances in a sentence

Any such advances ("Development Advances") shall, to the extent permitted under the Project Documents and any applicable Regulations or requirements of any Lender or Agency (or otherwise with any Requisite Approvals), be reimbursed at or prior to Permanent Mortgage Commencement only out of Specified Proceeds available from time to time after payment of all Development Costs.
All sums payable to Developer pursuant to this Agreement (including the Development Advances and Profits) shall be made in U.S. Dollars.
Such interest shall be due and payable on the date that such deferred Development Costs, Cogen Development Advances, or GE Turbine Costs, as the case may be, are due and payable by MESC pursuant to the terms of this Agreement.
Without excusing Borrower’s noncompliance with this Agreement, Borrower shall provide to Lender, for Lender’s review and approval, an updated Development Draw Schedule, (a) concurrently with each modification of any contract or agreement associated therewith and (b) not later than thirty (30) days after the end of each Loan Quarter (until all Development Advances have been fully disbursed).
In the event of termination under this Section 8.4, Red Mile shall be entitled retain any Development Advances received.
However, Codemasters makes no representation or warranty that the marketing and promotion of the Game shall be successful or that any minimum level of royalties shall become due to Red Mile beyond the Development Advances.
Lender may elect to make all Development Advances through a construction or other escrow agreement with the Title Company.
SEI and SERI shall prepare and provide to MESC prior to August 20, 2000, a list which identifies (i) all unreimbursed Development Costs incurred through July 31, 2000, and (ii) all unpaid Cogen Development Advances by SERI or its Affiliates pursuant to Section 3.1(b) of the Development Agreement, in each case together with accrued but unpaid interest as of July 31, 2000, and sets forth a good faith estimate of all additional amounts and interest that will accrue through August 31, 2000.
All alleged violations of the Article shall be considered a dispute under this Agreement and shall be processed in accordance with the grievance and arbitration provisions of this Agreement.
The obligations of the Subordinated Note Holder under this Agreement shall not become effective unless the Subordinated Note Obligations shall as of the date of this Agreement have been reduced to $10,000,000 or to any lesser amount, the Development Advances shall have been paid in full and all accrued Credit Enhancement Fees shall have been paid in full.

More Definitions of Development Advances

Development Advances has the meaning set forth in Section 2. "Development Costs" means any and all costs and expenses necessary to (i) cause the construction of the Apartment Complex to be completed, in a good and workmanlike manner, free and clear of all mechanics', materialmen's or similar liens, in accordance with the Plans and Specifications, (ii) equip the Apartment Complex with all necessary and appropriate fixtures, equipment and articles of personal property (including, without limitation, refrigerators and ranges), (iii) obtain all required certificates of occupancy for the apartment units and other space in the Apartment Complex, (iv) pay the Development Fee, (v) finance the construction of the Apartment Complex and achieve Rental Achievement in accordance with the provisions of the Project Documents, (vi) discharge all Partnership liabilities and obligations arising out of any casualty generating insurance proceeds for the Partnership, (vii) fund any Partnership reserves required hereunder or under any of the Project Documents, (viii) repay and discharge the Construction Loan, and (ix) pay any other costs or expenses necessary to achieve the Completion Date and Rental Achievement. "Specified Proceeds" means (i) the proceeds of all Mortgage Loans, (ii) the net rental income, if any, generated by the Apartment Complex prior to Rental Achievement which is permitted by the Lenders to be applied to the payment of Development Costs, (iii) the Capital Contributions of the Investment Limited Partner, the Class A Limited Partner and the Special Limited Partner, (iv) the Capital Contributions of the General Partner in the amounts set forth in Schedule A of the Partnership Agreement as of the Admission Date and (v) any insurance proceeds arising out of casualties occurring prior to Rental Achievement.

Development Advances. The advances to the Partnership to be made by the General Partner in the amounts and under the circumstances provided in Section 5.9(b).

Development Advances means the advances to Tribe made pursuant to Section 2.1 of this Agreement.