A&D Lots Clause Samples
The "A&D Lots" clause defines and governs the treatment of lots that are designated for acquisition and development within a real estate transaction. It typically specifies which parcels of land are included as A&D Lots, outlines the criteria for their selection, and may detail the process for their transfer or development obligations. For example, it might require that certain lots meet zoning or infrastructure requirements before being classified as A&D Lots. The core function of this clause is to clearly identify and regulate the lots subject to acquisition and development, thereby reducing ambiguity and ensuring both parties understand their rights and responsibilities regarding these specific parcels.
A&D Lots. Each A&D Lot may be included in Eligible Assets as an A&D Lot for not more than twenty-four (24) months from the date such A&D Lot was first included in the Eligible Assets as an A&D Lot.