Common use of Concurrency Clause in Contracts

Concurrency. The Developer acknowledges and agrees that, prior to the issuance of any building permit(s) for the Subject Property, the Developer must have received and be in possession of a valid unexpired Certificate of Capacity. The Certificate of Capacity verifies the reservation of infrastructure capacity sufficient to permit development pursuant to the approved site plan of the Subject Property. The Certificate of Capacity shall be valid for a term as defined and stated in the Certificate. Neither this DA nor the site/master plan approval shall create or result in a vested right or rights to develop the Subject Property without a current and valid Certificate of Capacity.

Concurrency. The Developer acknowledges and agrees that, prior to the issuance of any building permit(s) for the Subject Property, the Developer must have received and be in possession of a valid unexpired Certificate of Capacity. The Certificate of Capacity verifies the reservation of infrastructure capacity sufficient to permit development pursuant to the approved site plan of for the Subject Property. The Certificate of Capacity shall be valid for a term as defined and stated in the Certificate. Neither this DA nor the site/master plan approval shall create or result in a vested right or rights to develop the Subject Property without a current and valid Certificate of Capacity.