Land Payment Sample Clauses

The Land Payment clause defines the terms and conditions under which payment for a parcel of land must be made in a transaction. Typically, it outlines the total purchase price, the schedule for making payments (such as deposits, installments, or lump sums), and any conditions that must be met before payment is due, such as completion of due diligence or transfer of title. This clause ensures both parties are clear on when and how payment will occur, reducing the risk of disputes and providing a structured process for the financial aspect of the land sale.
Land Payment. In accordance with the terms of this Agreement, the City will convey to the Developer the Property. The Developer and the City have determined that the Property is to be conveyed pursuant to this Agreement for Ten Dollars ($10.00) and other good and valuable consideration (the “Land Payment”). The Developer agrees to purchase and accept the Property from City, on the Closing Date, together with the following: (a) Any City water and or sewer taps currently issued and appurtenant to the Property; and (b) Any structure, building, improvements, and fixtures on or attached to the Property; and (c) Any personal property not removed by the City and remaining on the Property on the Closing Date.
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Land Payment. Dranoff shall pay or cause to be paid to the Township, for use of the Township’s land for the Project One Million Dollars ($1,000,000.00) (“Land Payment”), and the Township’s sole obligation to contribute to the cost of the Project shall be to apply an amount equal to the Land Payment actually received.
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Land Payment. In accordance with the terms of this Agreement, the City will convey to the Developer Affiliate the Property or applicable portion thereof improved with the Backbone Infrastructure in exchange for the Collaborating Partners terminating the Exiting Leases, relocating at their own costs the current occupants of the Existing Structures subject to the covenants and conditions in this Agreement and removing any encumbrances, on the property subject to the Existing Leases. The City has determined that the Collaborating Partners' release of their rights and claims under the Existing Leases as well as the Developer's agreement to meet the requirements contained in the 2001 Renewed Hope Settlement Agreement and meet the Inclusionary Housing Ordinance requirements for the Main Street Neighborhood with the City equals or exceeds the value of the Property to be conveyed to the Developer Affiliates. The Developer and the City have determined that the Property is to be conveyed pursuant to this Agreement for One Dollar ($1.00) (the “Land Payment”) for each Phase
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Land Payment. Prior to transferring the Cricket Lot to the RDA, the Township intends to place of record with the ▇▇▇▇▇▇▇▇▇▇ County Recorder of Deeds a Declaration (the “Declaration”) containing the following burdens on the entity which takes title to the Cricket Lot from the RDA (the “Initial Cricket Owner”): (a) If the Initial Cricket Owner conveys the Cricket Lot to a third-party purchaser prior to the occurrence of either of the events described in subsections (b) and (c) below, then upon the closing of such conveyance the Initial Cricket Owner shall pay a Land Payment to the Township of Two Million Dollars ($2,000,000.00). The requirement to make the Land Payment shall be a lien upon the Cricket Portion of the Project, but such lien shall be subordinated at the request of any construction mortgage loan or subsequent Refinancing (subject to the payment of all sums, if any, required to be made at the time of such Refinancing). (b) If the Initial Cricket Owner converts the Cricket Portion of the Project to include residential condominiums, the Initial Cricket Owner shall pay to the Township Two Million Dollars ($2,000,000.00), which amount shall be apportioned on a pro-rata basis based upon the percentage unit interests of the units in the condominium and paid on a per unit basis as such condominiums are sold. Such document will provide for recordation of the sums received and reducing the outstanding amount owed under this Section 2.3(b) and for the release of the applicable condominium unit from the lien and effect of the Declaration upon the payment of the portion of the Land Payment apportioned to such unit. (c) If there is a Refinancing of the Cricket Portion of the Project or an Equity Recapitalization occurs, in either case which results, together with amounts previously paid to Equity Owners, in an Internal Rate of Return of at least 15% on all of the cash contributed to the Cricket Portion of the Project by the Equity Owners (whether as debt or equity), then the Initial Cricket Owner shall pay fifty (50%) percent of any amounts over the 15% Internal Rate of Return attained on all cash contributed to the Cricket Portion of the Project by the Equity Owners (whether as debt or equity), up to Two Million Dollars ($2,000,000.00)(or so much thereof as has not been previously repaid). If the total outstanding balance of the Land Payment is not paid as the result of the initial Refinancing or Equity Recapitalization, any balance not paid shall continue to be payable f...
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Related to Land Payment

  • Sale and Payment Under this agreement, the following provisions shall apply with respect to the sale of and payment for Series shares: (a) The Distributor shall have the right, as principal, to purchase Series shares from the Trust at their net asset value and to sell such shares to the public against orders therefor at the applicable public offering price, as defined in Section 4 hereof. The Distributor shall also have the right, as principal, to sell shares to dealers against orders therefor at the public offering price less a concession determined by the Distributor. (b) Prior to the time of delivery of any shares by the Trust to, or on the order of, the Distributor, the Distributor shall pay or cause to be paid to the Trust or to its order an amount in Boston or New York clearing house funds equal to the applicable net asset value of such shares. The Distributor shall retain so much of any sales charge or underwriting discount as is not allowed by it as a concession to dealers.

  • Notice and Payment A. Any notice required to be given under this Agreement shall be in writing and delivered personally to the other designated party at the above stated address or mailed by certified, registered or Express mail, return receipt requested or by Federal Express. B. Either party may change the address to which notice or payment is to be sent by written notice to the other under any provision of this paragraph.

  • Price and Payment Unless stated otherwise, the Charges are exclusive of value added tax (VAT) or any equivalent sales tax in any applicable jurisdiction. Unless stated otherwise, the Supplier shall invoice for the Charges monthly in arrears and all such invoices shall be accompanied by a statement setting out the Services and/or Goods supplied in the relevant month in sufficient detail to justify the Charges charged. Subject to clause 4.4 below, the British Council shall, unless agreed otherwise by the parties in writing, pay each of the Supplier’s valid and accurate invoices by automated transfer into the Supplier’s nominated bank account no later than 30 days after the invoice is received. Where there is an end client, the British Council shall not be obliged to pay any invoice to the extent that it has not received payment relating to that invoice from the end client. If the British Council fails to pay any sum properly due and payable (other than any sum disputed in good faith) by the due date for payment, the Supplier may charge interest on the amount of any such late payment at the rate of 4% per annum above the official bank rate set from time to time by the Bank of England. Such interest will accrue from the date on which payment was due to the date on which payment is actually made. The parties hereby acknowledge and agree that this rate of interest is a substantial remedy for any late payment of any sum properly due and payable Where the Supplier enters into a Sub-Contract, the Supplier shall: pay any valid invoice received from its subcontractor within 30 days following receipt of the relevant invoice payable under the Sub-Contract; and include in that Sub-Contract a provision requiring the counterparty to that Sub-Contract to include in any Sub-Contract which it awards provisions having the same effect as clause 4.6.1 of this Agreement.

  • Rates and Payment You agree to pay the residence fees which are outlined in Appendix IV and Residence Meal Plan fees (if applicable) which are outlined in Appendix IV. You may either pay the entire amount due or pay the residence fees and Residence Meal Plan fees in instalments, in the amounts and on the dates outlined in Appendix IV. If you choose to, or are required to, change your accommodation you will be required to pay the fees stipulated for the new accommodation, including the Residence Meal Plan, if applicable. • Failure to pay the first instalment of residence fees by or on the date it is due will lead to forfeiture of your accommodation assignment. Charges for residence fees and residence meal plan fees will continue until you complete the contract termination and check-out process in section 1.14. See Section 4.0 of this Contract for Residence Meal Plan information. Please note that the following terms apply to all fees and payments required by Student Housing and Hospitality Services (i.e. residence fees, Residence Meal Plan, activities/programs, assessments, et cetera): • Post-dated cheques will not be accepted. • A $35 service charge will be levied on all cheques returned by your financial institution for any reason. • You will pay all fees that may be imposed by the University from time to time in respect of failed electronic financial transactions, including, without limitation, electronic funds transfers and Interac transactions where, after initial processing, the transaction is cancelled or voided due to insufficient funds. • Late payments may not be accepted. If a late payment is accepted, it will be subject to a late payment fees as follows: » first late payment - $25 » second late payment - $35 » third late payment - $50 » fourth and any subsequent late payments - $75

  • Fees and Payment 2.1 All fees payable are due within 30 days from the invoice date. Once placed, Your order is non-cancelable and the sums paid nonrefundable, except as provided in this Agreement or Your order. You will pay any sales, value- added or other similar taxes imposed by applicable law that we must pay based on the Services You ordered, except for taxes based on our income. Fees for Services listed in an order are exclusive of taxes and expenses. 2.2 If You exceed the quantity of Services ordered, then You promptly must purchase and pay fees for the excess quantity. 2.3 You understand that You may receive multiple invoices for the Services ordered. Invoices will be submitted to You pursuant to Oracle's Invoicing Standards Policy, which may be accessed at ▇▇▇▇://▇▇▇.▇▇▇▇▇▇.▇▇▇/us/corporate/contracts/invoicing-standards-policy-1863799.pdf.