Examples of Successor Developer in a sentence
Developer acknowledges that building permit fees will be payable by Developer or Successor Developer for Minimum Improvements.
Prior to the execution of any Assumption Agreements between Developer and any Developer Successor, Developer and Lead Organizations shall also meet and confer regarding such agreements to confirm the mechanism by which Developer Successor shall assume all obligations of Developer pursuant to this Agreement in order to ensure that this Agreement is implemented by any Developer Successor as intended by the Parties.
Provided that the City has consented to any such assignment to and assumption by a Suncadia Successor Developer of the obligations to make the remaining monetary contributions required under this Agreement, then effective upon such assignment and assumption taking effect, Suncadia shall automatically be released from any remaining obligations to make monetary contributions to the City under this Agreement.
In the event that there is any Major Modification or other amendment or modification to the Development Agreement, the monetary and other obligations of Suncadia and/or any Suncadia Successor Developer related to the Recreational Parcel thereunder shall be consistent with and not more onerous than the terms set forth in this Agreement.
Suncadia will make and/or cause a Suncadia Successor Developer to make a $2,000,000 Third Monetary Contribution to the City upon approval of the final plat that creates the 1,000th residential unit or December 31, 2025 , whichever comes first.