Phase II Development Clause Samples
The 'Phase II Development' clause defines the obligations and procedures related to the second stage of a product's or project's development, typically following successful completion of Phase I. This clause outlines the specific milestones, timelines, and deliverables required during Phase II, such as further research, clinical trials, or prototype refinement, and may specify the parties' roles, reporting requirements, and criteria for evaluating progress. Its core practical function is to ensure both parties have a clear, mutual understanding of expectations and responsibilities during this critical development phase, thereby reducing ambiguity and facilitating smooth project advancement.
Phase II Development. At any time (x) develop or improve in any material respect or at any material cost the Tower II Air Parcel, or construct any material improvements or any material building on the Tower II Air Parcel, or (y) enter into any contract or agreement for such construction, development or improvement or for any materials, supplies or labor necessary in connection with such construction, development or improvement.
Phase II Development. The Parties presently agree to a drilling, testing and completion program for twelve (12) ▇▇▇▇▇ with the authority for expenditure (“AFE”), attached as Exhibit “D” hereto and made a part hereof for all purposes in the amount of two million seven hundred seventy-five thousand dollars ($2,775,000). It is anticipated that 10 ▇▇▇▇▇ will be drilled on the West Mule Creek oilfield lease as infield, development ▇▇▇▇▇ and 2 ▇▇▇▇▇ on the adjacent BLM acreage. The 2 BLM ▇▇▇▇▇ will require the setting of separate electric lines and tank batteries (1 set of tank batteries will accommodate both ▇▇▇▇▇), while the 10 infield, development ▇▇▇▇▇ can tie into the existing electric lines and tank batteries. The AFE for the BLM ▇▇▇▇▇ reflects tank batteries with a capacity of 1,300 barrels of storage (water tank and gun barrel or heater treater) will cost seventy-five thousand dollars ($75,000). The electric poles, electric meters and running of electric lines is estimated to cost fifty thousand dollars ($50,000). Upon the completion and equipping of each said well, all costs and expenses thereafter shall be borne and all income shall be received and shared in proportion to each Party’s working interest and net revenue interest. It is further provided, that the Parties shall meet, no later than thirty (30) days after the completion of each well to evaluate the economic merits of the program. At that time, Rangeford shall have the right to elect to keep all interests which it has paid for and earned and discontinue further drilling.
Phase II Development. 3 WEEKS
1. The Contractor will describe a Phase II extents for the review and approval of the Advisory Committee. The products of this Work Item will be generated and produced with a CAD-based system for increased accuracy and ease of modification. Included in this plan: • A Phase II extents plan for city review and approval. This will include the part of the undeveloped property that is proposed for the expansion of the cemetery based on council direction. • A Statement of Probable Costs that can be used by the city to budget for the Phase II expansion of the cemetery.
2. The level of detail in this Work Item will allow for a defensible Statement of Probable Costs to assist the Committee in establishing a budget as well as what improvements are feasible for the next phase.
1. The Contractor will elicit comments from the Cemetery as to any perceived shortcomings with existing regulations as a starting point for research. The Contractor will summarize Cemetery policies and regulations derived from cemeteries with similar size, operation, and market. Included in this plan: • An evaluation of the ROMC policies and regulations along with a comparison of this data with that of at least five other cemeteries of similar size, operation and market.
Phase II Development. The Developer shall develop Phase II as market conditions allow.
Phase II Development. Within sixty (60) days after the parties agree upon the Functional Specifications, Ad-Star will provide the "Phase II Development" as per the Functional Specifications, including but not limited to the following:
i) Development and hosting of a Care▇▇▇▇▇▇.▇▇▇/▇▇▇▇▇▇▇▇▇ ▇▇▇-enabled co-branded job advertisement posting product for the remainder of the then current Affiliates (up to 100), in addition to the ten (10) Affiliates covered by Phase I. In addition, Ad-Star will develop and host such a product for new Affiliates promptly after they become Affiliates;
ii) Account creation/administration for Care▇▇▇▇▇▇.▇▇▇ ▇▇ create and administer accounts for Affiliates, advertising agencies, and customers as per the Functional Specification;
iii) Account creation/administration for Affiliates to create and administer accounts for advertising agencies and customers as per the Functional Specification;
Phase II Development. As part of the development phase, available funding will be used for final site acquisition, construction, infrastructure improvements, and stabilization. This is short term debt financing required to reimburse the developer for some expenditures made in the Phase I and to complete the development to a point when it is usable and can be occupied. It sometimes requires additional equity from a developer to maintain a prescribed loan to equity ratio. The term “stabilization” generally refers to the time from when a building has been completed to when it is generating enough cash flow to cover its operating costs.