Minimum Development Obligation definition

Minimum Development Obligation means the development of EWS Dwelling Unit, Non Residential Thematic Economic Activity and Basic Urban Infrastructure Amenities (collectively also referred to as Obligatory Facilities) to be developed and allied services to be provided by the Lessee/ Selected Bidder as per the provisions of this RFP, the Township Policy/ Rules, applicable development control regulation, land use and development control plan as may be applicable and the DPR approved by WBHIDCO in due course.
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Minimum Development Obligation means: your requirements to achieve that number of Sales by the deadlines set forth in the Development Schedule (Exhibit 2) both with regard to (1) the minimum number of completed Sales that must be achieved each year of this Agreement, by the annual anniversary dates measured from the Effective Date of this Agreement; and (2) the cumulative minimum number of Location Franchises that must be opened and operating within your Development Area by the annual anniversary dates measured from the Effective Date of this Agreement. “Cumulative” means the net sum of (a) Franchisees in your Development Area that became Sales in a previous year, (b) plus the Sales in your Development Area that took place in the applicable current year, (c) minus the number of Franchisees in your Development Area that were closed (due to non renewal of Franchise Agreement, abandonment, etc.) in the applicable current year. The number of Sales and deadlines shall be negotiated in good faith and mutually agreed upon by the parties. For purposes of this Agreement, “Sale” or Sales” means: that moment when: (1) the Initial Franchise Fee has been collected, and (2) a copy of the Franchise Agreement has been executed. Only newly constructed Location Franchises qualify as a completed Sale.
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Minimum Development Obligation means the Developer’s right and obligation to construct, equip, open and thereafter continue to operate at Venues within the Development Area not less than the cumulative number of Full Service Coffeehouses set forth in Exhibit “B,” which is annexed hereto and by this reference made a part hereof, and within each of the Development Periods specified therein.
Sample 1

Examples of Minimum Development Obligation in a sentence

  • Without prejudice to the provisions of Article 12.1, if the rate of progress of Development Works is such that the Minimum Development Obligation is not likely to be completed within the time period stipulated, the Concessionaire shall inform the Independent Expert and the Authority at fortnight intervals, in reasonable detail about the steps it proposes to take to expedite progress and the period within which it shall achieve the Project COD.

  • Without prejudice to the provisions of Article 12.1, if the rate of progress of Development Works is such that the Minimum Development Obligation is not likely to be completed within the time period stipulated, the Concessionaire shall inform the Independent Expert and the Authority at fortnight intervals, in reasonable detail about the steps it proposes to take to expedite progress and the period within which it shall achieve the [Project COD]24.

  • The amount shall be retained till the fulfilment of the Minimum Development Obligation (“Implementation Phase”).

  • The construction of any new component shall be in compliance with the prevailing by-laws and other regulatory frameworks being stipulated by various governing authorities and development authorities from time to time over the construction phase/ Minimum Development Obligation Period.

  • These advertising funds are corporations owned by a majority stockholder of RIHI, who is also the Company’s Chief Executive Officer and Co-Founder, as trustee for RE/MAX agents, who does not receive any compensation from these corporations, as all funds received by the corporations are required to be spent on advertising for the respective regions.

  • Other indicative optional facilities and services can included, but shall not be limited to the following, for which the bidder shall submit a separate BoQ of Financial Proposal in the same envelope as that for Minimum Development Obligation, as per the format provided in Annexure IX.

  • Shall provide incentives as per applicable Tourism Policy for capital investments made over and above that prescribed in the Minimum Development Obligation, upon application through the single window.

  • PART – B (Financial Proposal) The bidder must submit the Financial Proposal for Minimum Development Obligation as per format provided in Annexure VII and the BoQ as format provided in AnnexureVIII.

  • Annexure VIII (Bill of Quantity/ Minimum Development Obligation) shall also be submitted as part of the Financial Proposal.

  • The Selected Consortium shall legally and beneficially holds 100% equity in the Lessee, with Lead Member equity holding not less than 51% till the signing of the Lease Deed, 51% with minimum equity holding of the Lead Member at 26%, uptil completion of the Minimum Development Obligation and 26%, with minimum equity holding of the Lead Member at 10%, uptil the completion of the Project.


More Definitions of Minimum Development Obligation

Minimum Development Obligation means the Developer’s right and obligation to construct, equip, open and thereafter continue to operate at Venues within the Development Area not less than the cumulative number of Shri Cane Fresh outlets set forth in Annexure “B,” which is annexed hereto and by this reference made a part hereof, and within each of the Development Periods specified therein.
Sample 1
Minimum Development Obligation means the minimum design and construction standards of the Project Assets as set forth in Schedule –I (1) hereto.
Sample 1
Minimum Development Obligation means development of at least 800,000 sq. ft. of commercial / office space for IT and ITES activities. In addition, the Project should have Business Centre, Meeting Rooms/ Conference Rooms along with minimum Car Parking as per the development control regulations mentioned in GO 168 of the Government of Andhra Pradesh, as specified under Point 1 of Schedule – B: Scope of the Project.
Sample 1

Related to Minimum Development Obligation

  • L/C Reimbursement Obligation means, for any Letter of Credit, the obligation of the Borrower to the L/C Issuer thereof, as and when matured, to pay all amounts drawn under such Letter of Credit.

  • Investment Obligations means and include, except as otherwise provided in the Supplemental Indenture providing for the authorization of Bonds, any of the following securities, if and to the extent that such securities are legal investments for funds of the Issuer;

  • Payment Obligation means the Principal Amount of the District Note and, if the District Note is a Defaulted Note interest thereon at the Default Rate, until such amounts are paid in full.

  • Program Obligations means (1) all applicable statutes and any regulations issued by the Secretary pursuant thereto that apply to the Project, including all amendments to such statutes and regulations, as they become effective, except that changes subject to notice and comment rulemaking shall become effective only upon completion of the rulemaking process, and (2) all current requirements in HUD handbooks and guides, notices, and mortgagee letters that apply to the Project, and all future updates, changes and amendments thereto, as they become effective, except that changes subject to notice and comment rulemaking shall become effective only upon completion of the rulemaking process, and provided that such future updates, changes and amendments shall be applicable to the Project only to the extent that they interpret, clarify and implement terms in this Agreement rather than add or delete provisions from such document. Handbooks, guides, notices, and mortgagee letters are available on HUD's official website: (xxxx://xxx.xxx.xxx/offices/adm/hudclips/index.cfm or a successor location to that site)).

  • Rate Management Obligations of a Person means any and all obligations of such Person, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor), under (i) any and all Rate Management Transactions, and (ii) any and all cancellations, buy backs, reversals, terminations or assignments of any Rate Management Transactions.

  • Credit Agreement Obligations means the “Obligations” as defined in the Credit Agreement.

  • Net Obligation means the amount owed to PJMSettlement and PJM for purchases from the PJM Markets, Transmission Service, (under Tariff, Parts II and III , and other services pursuant to the Agreements, after applying a deduction for amounts owed to a Participant by PJMSettlement as it pertains to monthly market activity and services. Should other markets be formed such that Participants may incur future Obligations in those markets, then the aggregate amount of those Obligations will also be added to the Net Obligation.

  • Discount Obligation means any Collateral Debt Obligation acquired by, or on behalf of, the Issuer for a purchase price (excluding accrued interest thereon) of less than 90 per cent. of the principal amount of such Collateral Debt Obligation, provided that such Collateral Debt Obligation shall cease to be a Discount Obligation where the Market Value thereof for any period of 30 consecutive Business Days (excluding any period in which the Market Value of such Collateral Debt Obligations cannot be determined pursuant to paragraphs (a) or (b) of the definition of “Market Value”) equals or exceeds 95 per cent. of the principal amount of such Collateral Debt Obligation (as certified by the Collateral Manager to the Issuer, Trustee and Collateral Administrator).

  • L/C Obligations means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

  • Development Phase means the period before a vehicle type is type approved.

  • Treasury Management Obligations means obligations under any agreement governing the provision of treasury or cash management services, including deposit accounts, funds transfer, automated clearinghouse, zero balance accounts, returned check concentration, controlled disbursement, lockbox, account reconciliation and reporting and trade finance services. Treasury Management Obligations shall not constitute Indebtedness.

  • L/C Obligation means, as at any date of determination, the aggregate maximum amount then available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts in respect of Letters of Credit, including all L/C Borrowings.

  • Development Period Security shall have the meaning set forth in Section 6.1(a) hereof.

  • Credit Improved Obligation means any Collateral Debt Obligation which, in the Investment Manager’s judgment, has significantly improved in credit quality and in respect of which one of the following is satisfied:

  • Development Project means a project for the development of land within a

  • Reimbursement Obligation the obligation of the Borrower to reimburse the Issuing Lender pursuant to Section 3.5 for amounts drawn under Letters of Credit.

  • Swap Agreement Obligations means any and all obligations of the Loan Parties and their Subsidiaries, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor), under (a) any Swap Agreement permitted hereunder with a Lender or an Affiliate of a Lender, and (b) any cancellations, buy backs, reversals, terminations or assignments of any Swap Agreement transaction permitted hereunder with a Lender or an Affiliate of a Lender.

  • Research facility means buildings and structures, including machinery and equipment, used or to be used primarily for research or experimentation to improve or develop new tangible goods or materials or to improve or develop the production processes thereto.

  • Maximum Facility Output means the maximum (not nominal) net electrical power output in megawatts, specified in the Interconnection Service Agreement, after supply of any parasitic or host facility loads, that a Generation Interconnection Customer’s Customer Facility is expected to produce, provided that the specified Maximum Facility Output shall not exceed the output of the proposed Customer Facility that Transmission Provider utilized in the System Impact Study. Maximum State of Charge:

  • Fixed Rate Obligation Any Collateral Obligation that bears a fixed rate of interest.

  • Credit Event Reference Obligation means, with respect to any Payment Date, any Reference Obligation with respect to which a Credit Event has occurred.

  • 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.

  • Collateral Enhancement Obligation means any warrant or equity security, excluding Exchanged Equity Securities, but including without limitation, warrants relating to Mezzanine Obligations and any equity security received upon conversion or exchange of, or exercise of an option under, or otherwise in respect of a Collateral Debt Obligation; or any warrant or equity security purchased as part of a unit with a Collateral Debt Obligation (but in all cases, excluding, for the avoidance of doubt, the Collateral Debt Obligation), in each case, the acquisition of which will not result in the imposition of any present or future, actual or contingent liabilities or obligations on the Issuer other than those which may arise at its option; provided that no Collateral Enhancement Obligation may be a Dutch Ineligible Security.

  • Development Fee means a fee for the packaging of a Property, including negotiating and approving plans, and undertaking to assist in obtaining zoning and necessary variances and necessary financing for the Property, either initially or at a later date.

  • Sukuk Obligation means any undertaking or other obligation to pay any money given in connection with the issue of trust certificates or other instruments intended to be issued in compliance with the principles of Shari'ah, whether or not in return for consideration of any kind.

  • Development Period means the period from the date of this Agreement until the Appointed Date;