Examples of Predevelopment Phase in a sentence
The First Level Leases and the Second Level Leases are expected to be straight pass-throughs of rights and obligations under the Ground Lease with respect to the particular Phases that are the subjects thereof, although rents payable thereunder will be as structured as a result of the Predevelopment Phase and the Determination Phase.
The Project is described in the Business Plan (as the same will be amended pursuant to the Predevelopment Phase and the Determination Phase), and will be further developed and described more fully in a Project program description which shall be prepared by the Developer pursuant to the provisions of Section 5.01 of this Agreement (the “Project Program”).
During the Predevelopment Phase, the Developer may present the Owner (via the Development Committee) with periodic drafts of, and updates to, the Facility Agreement Summary for review and comment by the Development Committee and subsequent revision, if necessary, by the Developer.
During the Predevelopment Phase, the Developer shall provide the Owner with a report on the progress of the Predevelopment Phase Work as well as any other updates regarding the Project chosen by the Developer (“Predevelopment Phase Reports”).
The time period for the Developer to engage in Predevelopment Phase Work shall commence upon the Effective Date and shall conclude on the date that is not less than ten (10) months, but not more than twelve (12) months, following the Effective Date (the “Predevelopment Phase”).
All youth who receive mental health and/or substance abuse treatment while at the center shall have a discharge summary completed documenting the focus and course of the youth's treatment and recommendations for mental health and/or substance abuse services uponyouth's release from the center.
During the Predevelopment Phase, the Developer and the Owner shall mutually determine a refined annual schedule of assumed property taxes for the Anchor Elements and the Support Elements during the term of the Ground Lease (the “Refined Property Tax Costs”) The Refined Property Tax Costs shall be delivered to the Owner by the Developer at the commencement of the Determination Phase.
Pursuant to the completion of the Predevelopment Work, the Predevelopment Phase Work and the Determination Phase Work, but prior to the closing of the Development Loan, the Developer and the Design Builder shall agree on the line-item budget supporting the Total Project Costs for each Phase, as the same may be modified from time to time (the “Total Project Budget”).
During the Predevelopment Phase, the Developer shall prepare the refined Sublease documents to be utilized with each of the Anchor Elements by the Developer with each applicable Development Affiliate (the “Refined Subleases”).
The time period for the Developer to engage in Determination Phase Work shall commence upon the conclusion of the Predevelopment Phase and shall conclude on the date that is not less than two (2) months, but not more than four (4) months, after the completion of the Predevelopment Phase (the “Determination Phase”).