Developer Undertakings Sample Clauses
The Developer Undertakings clause sets out the specific promises and obligations that the developer agrees to fulfill under the contract. Typically, this includes commitments such as delivering the project according to agreed specifications, meeting deadlines, complying with relevant laws and standards, and maintaining confidentiality. For example, the developer may be required to use certain technologies or ensure that the work is original and does not infringe on third-party rights. The core function of this clause is to clearly define the developer’s responsibilities, thereby reducing ambiguity and helping to prevent disputes over performance or quality.
Developer Undertakings. (a) In order to receive the payments as described in paragraphs 2 and 3 above, the Developer shall undertake or cause to be undertaken the following (the “Developer Undertakings”):
i. Develop the Project (including the Theater), generally as depicted in the approved Conceptual Development Plan for the Special Exceptions for mixed use and bonus height as approved by the City Council for the Project on August 13, 2018, and in accordance with the Voluntary Concessions (“VC”s) and all parts of the Special Exception approval, and as further approved by the Planning Commission in the Site Plan for the Project on September 24, 2018, and further modified on February 22, 2021.
ii. Lease the Theater space in the Project to the Theater Company through a lease that satisfies the requirements of VC number 3, as confirmed by the City Manager (the “Theater Lease”).
iii. Cause the Theater Company to execute an agreement that permits the Commissioner of Revenue and the City Treasurer to disclose to the Authority and the City any information that may be reasonably necessary for the Authority to perform the Authority Undertakings in paragraph 3 hereof or the City to perform the City Undertakings in paragraph 2 hereof.
(b) On an annual basis for each Fiscal Year beginning after the first day on which the Theater is open for business and operating in the Project and each subsequent Fiscal Year commencing prior to the expiration of payments called for under paragraphs 2(a)1.a, Developer shall deliver to the Authority and the City such financial reporting received by Developer from Theater Company pursuant to the Theater Lease as is reasonably required to verify and confirm Gross Revenue for such Fiscal Year. The Developer shall deliver such reporting promptly following receipt of the same from the Theater Company following the end of each such Fiscal Year.
(c) ▇▇▇▇▇▇▇▇▇ agrees to meet the timeline set forth below and in the event any of these items have not been completed on or before the dates set forth below, the City may, by giving five business days’ written notice to the Developer and the Authority, terminate this Agreement and the obligations of the City hereunder:
i. A lease with a theater company meeting the standards set forth in the Voluntary Concessions shall have been fully executed on or before September 30, 2022; and
ii. The Developer shall have submitted complete building permits for all Theater tenant improvements on or before December 31, 2022; and
iii. The The...
Developer Undertakings. During the term of this Agreement the Developer shall use commercially reasonable efforts to do the following:
(a) Continue to refine or modify its site and building plans for the Development.
(b) Upon receipt of payment as provided for in Section 5, Assign its rights and obligations under the Purchase Agreement dated December 27, 2013, as amended, for Developer’s Property to the EDA, with confirmation that such Purchase Agreement has been extended through June 20, 2014. (c)(b) Seek to Secure secure a Letter of Intent from an approximately 13,000 square foot specialty grocery store acceptable to the EDA to be located on the Redevelopment Property as part of the Development.
(d) (c) Seek to secure other tenants for the Development; provided that the Developer has no authority by virtue of this Agreement to lease or otherwise encumber the EDA Property, without the EDA’s written consent.
(e) (d) Submit to the EDA a proposed schedule for the Development as well as the timing of the closing on financing.
(f) (e) Seek to secure a commitment for financing sufficient for construction of the Development.
(g) (f) Using title information and a survey provided by the EDA, upon receipt of a Letter of Intent as stated in Section 4(c),above, update evidence of title to the EDA Property and provide to the EDA any objections to title.
(h) (g) Submit to the EDA a project pro forma detailing all costs of the Development and the sources and uses of all funds to be raised to finance the Development, including justification for the amount proposed to be paid by the Developer, if any, to acquire the EDA Property and City assistance necessary to proceed with development of the Redevelopment Property. (i)(h) Undertake preliminary engineering and soil testing of the Redevelopment Property as Developer determines, in its sole discretion. For this purpose, the Developer and its contractors shall have the right to enter upon the EDA Property at reasonable times and after notice to the EDA. The Developer shall indemnify, defend and hold the EDA harmless from and against any claims or damage, of whatsoever nature, arising out of the entry onto the EDA Property and shall repair any damage caused to the EDA Property.
(j) (i) Using environmental reports and studies provided by the EDA and such other studies and testing deemed necessary by Developer, determine the acceptability of the environmental condition of the Redevelopment Property.
(k) (j) Identify the Additional Property to be acqui...
Developer Undertakings. During the term of this Agreement, the Developer will do the following:
(a) Continue to refine the site plans, plans for the Public Amenities and the Public Improvements and building plans for the Development, all subject to available funding for the Development.
(b) Undertake preliminary engineering, soil testing/borings and geotechnical analysis of the Redevelopment Property. For this purpose, the Developer and its contractors shall have the right to enter upon the Redevelopment Property at reasonable times and conduct such tests and inspections of the Redevelopment Property as the Developer deems necessary including, without limitation, Phase I and Phase II environmental testing, geotechnical testing and wetland testing and delineations (the “Inspections”). The Developer shall give the EDA two (2) full business days’ prior notice of any inspection or test. All Inspections shall be at the Developer’s expense and the Developer shall repair any damage to the Redevelopment Property that the Developer or its agents cause as part of the Inspections. The Developer shall indemnify, defend and hold the EDA and the Redevelopment Property harmless from any liens, losses, costs, claims or expenses related to or arising out of the Developer’s Inspections and shall repair any damage caused to the Redevelopment Property, which obligations shall survive the expiration or termination of this Agreement.
(c) Submit to the EDA a proposed schedule for the undertaking of the Development, including phasing and timing of closing and construction.
(d) Using any available title information and survey provided by the EDA, update evidence of title to the Redevelopment Property and provide to the EDA any objections to title.
(e) Seek to secure a commitment for equity and financing sufficient for construction of the Development or identify development partners able to obtain commitments for equity and financing sufficient for construction of applicable portions of the Development.
(f) Submit to the EDA a project pro forma detailing all costs of the Development and the sources and uses of all funds to be raised to finance the Development, including justification for the amount proposed to be paid by the Developer to acquire the Redevelopment Property and the request for public assistance.
(g) Seek to secure commercial tenants for the Development; provided that the Developer has no authority by virtue of this Agreement to lease or otherwise encumber the Redevelopment Property.
(h) Obt...
Developer Undertakings. 133 (a) In order to receive the Admission Tax Revenue as described in paragraph 134 2 above, the Developer shall undertake or cause to be undertaken the following (the “Developer 135 Undertakings”):
(1) Develop the ▇▇▇▇▇ Row, generally as depicted in the approved 137 Conceptual Development Plan for the Special Exceptions for mixed use and bonus height as 138 approved by the City Council for ▇▇▇▇▇ Row, subject to the Voluntary Concessions and all parts 139 of the Special Exception approval, and as further approved by the Planning Commission in the 140 Site Plan for ▇▇▇▇▇ Row. 141 (2) Lease the Theater space in ▇▇▇▇▇ Row to a nationally recognized 142 theater company, through a lease accepted by the City Manager as provided for in VC number 3. 143 144 (b) The Developer acknowledges and agrees that the schedule of sharing of 145 Admission Tax Revenues by the Authority to the Developer as provided in Section 2(a) above, 146 represents the full and complete financial contribution from the City and the Authority toward 147 the redevelopment of the Site. Neither the City nor the Authority shall have any obligation to 148 pay any amounts not provided for in paragraph 2(a) above. 149 (c) The Developer understands and agrees that there shall be a full public 150 Zoning approval (to include required rezoning, Comprehensive Plan amendment, Special 151 Exceptions for Mixed Use and Bonus Height) and site plan approval process. This agreement in 152 no way obligates the City to approve the zoning and site plan; and 153 (d) This agreement shall terminate on January 1, 2022, without further action 154 by either party if the Theater Company has not opened its Theater in ▇▇▇▇▇ Row. In such event, 155 neither the City nor the Authority shall have any further obligation hereunder,
Developer Undertakings. ▇▇▇▇▇▇▇▇▇ agrees to undertake the following:
Developer Undertakings. During the term of this Agreement the Developer shall do the following if proceeding with an actual Development proposal:
(a) Continue to refine its site and building plans for the Development.
(b) Continue to seek an end-user tenant(s) for the development.
Developer Undertakings.
(a) The Developer undertakes to the Crown that any deposit paid pursuant to a Pre-Sale Agreement for the purchase of an Underwritten Home within the Development will be paid to an interest bearing account with the Developer’s solicitor’s trust account, and held as stakeholder undistributed until such time as:
(i) the Pre-sale Settlement Conditions are satisfied; or
(ii) the Pre-sale Agreement is validly cancelled by either the Developer, or the Purchaser.
(b) In the event that the Pre-sale Agreement is validly cancelled, the deposit will be paid, together with interest earned, to the party entitled to the deposit under the Pre-Sale Agreement.
Developer Undertakings. The Developer shall diligently and professionally pursue the Development on the Property, including obtaining all necessary federal, state, and local permits required for this Development and complying therewith. The terms of this Agreement shall be incorporated into any Special Permit for the Development. All costs associated with obtaining necessary approvals are the responsibility of the Developer, including but not limited to, professional assistance utilized to prepare materials on behalf of the Developer as well as professional review by consultants acting on behalf of the Town.
Developer Undertakings. Developer hereby agrees, and shall cause the Development Group to agree, to undertake the following in connection with the Development Group’s use of the Town Roads:
(a) Developer shall comply in all material respects with the rules and regulations associated with the driveway access permits. Whenever work is being performed that blocks any part of a Town Road, flaggers shall be present to control traffic. Any temporary entrances shall be removed from the right of way when not in use.
(b) While the Project is under construction, if requested by the Town Highway Superintendent, Developer shall provide transport schedules to the Town Highway Superintendent.
(c) If any of the Town Roads show signs of rutting, rolling, breaking or pumping that is not documented in the Pre-Project Roadway Condition Survey (defined in Section 3) while construction of the Project is ongoing due to the transporting of oversize or overweight loads or other material deliveries by the Development Group or Developer, at the reasonable request of the Town Highway Superintendent shall cause necessary repairs to be implemented to ensure safe passage of the motoring public within a reasonable time, unless immediate hazards exist, in which case Developer shall take immediate action to make such repairs. If Developer fails to act, the Town Highway Superintendent may take remedial action and may close the road to traffic and close all Town Roads to all Project traffic until the road is made safe.
(d) Developer shall, upon request, provide copies to the Town Highway Superintendent of any delivery ticket bound for or delivered to the Project site in connection with the Repair Work (as hereinafter defined) so that the Town Highway Superintendent may monitor the actual weights of construction vehicles which do not require permits for overweight loads. Copies of the delivery tickets shall be in the cab of the delivery vehicle during the transport.
(e) Developer shall comply with applicable time limits with respect to any requested closures of Town Roads. Developer shall provide reasonable notice to the Town Highway Department and local law enforcement agencies, affected rural mail providers, affected school districts and fire protection and ambulance service providers, as applicable, of road closings prior to closing any roads, portion of roads or intersections. In the event this provision is violated by Developer or the Development Group, the Town Highway Superintendent may impose a fine of $500...
Developer Undertakings. 132 (a) In order to receive the Admission Tax Revenue as described in paragraph 133 2 above, the Developer shall undertake or cause to be undertaken the following (the “Developer 134 Undertakings”): 135 (1) Develop the ▇▇▇▇▇ Row, generally as depicted in the approved 136 Conceptual Development Plan for the Special Exceptions for mixed use and bonus height as 137 approved by the City Council for ▇▇▇▇▇ Row, subject to the Voluntary Concessions and all parts 138 of the Special Exception approval, and as further approved by the Planning Commission in the 139 Site Plan for ▇▇▇▇▇ Row. 140 (2) Lease the Theater space in ▇▇▇▇▇ Row to a nationally recognized 141 theater company, through a lease accepted by the City Manager as provided for in VC number 3. 142 (3) Cause the Theater Company to execute an agreement that permits 143 the Commissioner of the Revenue and the City Treasurer to disclose to the Authority and the 144 City any information that may be reasonably necessary to perform the Authority Undertakings in 145 section 3 hereof or the City Undertakings in section 2 hereof. 146 (b) The Developer acknowledges and agrees that the schedule of sharing of 147 Admission Tax Revenues by the Authority to the Developer as provided in Section 2(a) above, 148 represents the full and complete financial contribution from the City and the Authority toward 149 the redevelopment of the Site. Neither the City nor the Authority shall have any obligation to 150 pay any amounts not provided for in paragraph 2(a) above.