Optional Development Sample Clauses

Optional Development. I. The Concessionaire shall, subject to Applicable Laws, Applicable Permits, prior written approval of the Authority, be entitled to undertake in accordance with terms herein, and at its sole risk, and cost the development, operation and maintenance of the additional beds and/ or any non-obligated specialty service(s) at the Hospital, and / or, a Medical College, and/or additional housing blocks for doctors and paramedical staffs and Students, at the Site as set forth in the Schedule A ; which Concessionaire to be developed in conformity with the Specification and Standards set forth in the Schedule B (referred in this Agreement as "Optional Development"). For avoidance of doubt, in regard to the Option al Development, the Parties hereby unconditionally agree, confirm and understand that the Concessionaire shall, subject always to terms herein and full compliance with Applicable Laws, be entitled to undertake the development of optional component of the Medical College at any time during the Concession Period. The Parties further in this regard agree that Authority shall solely for the purpose of meeting part(s) of the capital cost of the Medical College, upon written request by Concessionaire clearly demonstrating its complete compliance with Applicable Laws and terms herein, disburse (in tranches) an interest bearing (viz, highest G Sec Rate as per latest RBI published bulletin) repayable loan facility to Concessionaire of the value equivalent to lower of:- (i) 50% of the then Authority’s estimated capital cost of development of Medical College, as would be determined by Authority in its discretion; and (ii) the sum of INR 00 (Xxxxxxx Xxxx) Xxxxxx; (hereinafter the “Loan Facility”) in accordance with terms hereof; provided, that, prior to the commencement of such disbursement(s) of any tranche the Concessionaire shall furnish relevant bank guarantee(s) of value equivalent to 110% of the relevant amount being disbursed in such tranche, to be issued by a Scheduled Bank in India as per the format enclosed herein as Schedule V (“Optional Development Guarantee”)1, each having respective validity period till expiry of corresponding repayment timeline as set out later at S. No (III) below.
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Optional Development. 12.4.1 The Concessionaire shall, subject to provisions of this Agreement including Clause 2.1(e) hereof have the right to exercise an option of undertaking construction of Medical College anytime during the Concession Period subject to fulfilment of Medical Council of India/competent authority’s requirement in respect of development of Medical College. The Concessionaire shall, subject to aforesaid provision, only commence the construction for Optional Development post receiving written approval from the Authority. Provided, however, such approval from Authority, if granted shall be without prejudice to Concessionaire’s obligation towards inter alia operation and maintenance of Mandatory Phases of the Project in accordance with provisions of this Agreement.
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Optional Development. In the event that INFLARX is being granted any Regulatory Approval for Commercialization of a Product containing IFX-1 or IFX-2 anywhere in the INFLARX Territory for an Indication and if the same or a substantially similar Indication at that time is not pursued by BDB inside the BDB Territory, as evidenced by any initiated (FPFV) Phase II Clinical Trial for cPoC sponsored by BDB, with respect to BDB-1 or BDB-2, then INFLARX — upon INFLARX request in writing — shall be granted the right to pursue Regulatory Approval for and to Exploit and Commercialize such Product containing IFX-1 and or IFX-2 in that respective Indication inside the BDB Territory. In such event, BDB shall be entitled to royalty payments as set forth in Section ‎7.2. For the purpose of this provision, it is understood that a “substantially similar Indication” is concerned if there is an overlap in targeted sub-groups of patients in the Indications pursued in development of the Parties.
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Optional Development. 12.4.1 The Concessionaire shall have the right to exercise an option of undertaking construction of Optional Development anytime post COD of Phase 0 and shall only commence the construction for Optional Development post receiving written approval from the Authority.
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Optional Development. The Concessionaire shall, subject to Applicable Laws, Applicable Permits and prior written approval of the Authority, be entitled to undertake at its sole risk and cost development, operation and maintenance of the additional beds and/ or any specialty service(s) at the Hospital and / or a Medical College at Site and additional housing blocks for doctors and paramedical staffs and Students at the Site as set forth in the Schedule A and in conformity with the Specification and Standards set forth in the Schedule B ("Optional Development"); Provided further that Optional Development may be permitted only post achieving COD of Phase III and other mandatory phases in full compliance with terms of this Agreement.
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Related to Optional Development

  • Clinical Development Licensee will have sole responsibility for and sole decision making over the clinical development of any Product arising from the Research Program in the Field. Notwithstanding the foregoing, if Licensee wishes to conduct clinical development of a Development Candidate at Penn and Penn has the clinical expertise, interest and ability to run such a trial as assessed at Penn’s sole discretion, such a study will be conducted under a separate Clinical Trial Agreement to be negotiated by the Parties prior to initiation of such study. Such separate clinical trial agreement will include a detailed clinical development plan, including costs and time lines for conducting the Clinical Trial.

  • Initial Development Plan Not later than the Effective Date, Licensee shall have provided Merck with an initial Development plan for the Licensed Product in the Field in the Territory, which shall be incorporated as part of this Agreement as Attachment 3.02(a) (as may be amended in accordance with this Agreement, the “Development Plan”). **CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND WILL BE FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST.

  • Subsequent Developments After the date of this Contract and until the Closing Date, Seller shall use best efforts to keep Buyer fully informed of all subsequent developments of which Seller has knowledge (“Subsequent Developments”) which would cause any of Seller’s representations or warranties contained in this Contract to be no longer accurate in any material respect.

  • Joint Development If joint development is involved, the Recipient agrees to follow the latest edition of FTA Circular 7050.1, “Federal Transit Administration Guidance on Joint Development.”

  • Independent Development Receiving Party may currently or in the future be developing information internally, or receiving information internally, or receiving information from other parties that may be similar to the Disclosing Party's Confidential Information. Accordingly, nothing in this Agreement will be construed as a representation or inference that Receiving Party will not develop or have developed products or services, that, without violation of this Agreement, might compete with the products or systems contemplated by the Disclosing Party's Confidential Information.

  • Business Development Company Buyer is a business development company as defined in Section 202(a)(22) of the Investment Advisors Act of 1940.

  • Business Development Provide advice and assistance in business growth and development of Party B. 业务发展。对乙方的业务发展提供建议和协助。

  • Notice of Developments Each Party will give prompt written notice to the other of any material adverse development causing a breach of any of its own representations and warranties in Section 3 and Section 4 above. No disclosure by any Party pursuant to this Section 5(f), however, shall be deemed to amend or supplement the Disclosure Schedule or to prevent or cure any misrepresentation, breach of warranty, or breach of covenant.

  • Business Development Company Status The Company, during a period of at least 12 months from the Closing Time, will use its commercially reasonable efforts to maintain its status as a business development company; provided, however, the Company may cease to be, or withdraw its election as, a business development company, with the approval of the board of directors and a vote of stockholders as required by Section 58 of the 1940 Act or any successor provision.

  • Research and Development (i) Advice and assistance in relation to research and development of Party B;

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