Examples of moratorium, in a sentence
If the Moratorium Period is more than one-half (1/2) of the remaining Land Use Term, then, at Developer's election and subject to approval by the City Council, the Land Use Term of this Agreement may be extended pursuant to Section 6.1 for the duration of the period during which such new Law precludes compliance with the provisions of this Agreement.
In case of extension of the Commencement Date or Moratorium Period or both, as the case may be, for whatsoever reason, the escalation on the License Fee and maintenance fee shall be counted from the commencement date.
If the duration of the period during which such new Law precludes compliance with the provisions of this Agreement (such period, a “Moratorium Period”) is less than or equal to one-half (1/2) of the remaining Land Use Term, then, at the Developer’s election, the Land Use Term may be extended for the length of such Moratorium Period.