Redevelopment Sample Clauses
The Redevelopment clause grants a landlord the right to reclaim leased premises for the purpose of significant renovation, reconstruction, or redevelopment of the property. Typically, this clause outlines the conditions under which the landlord may terminate or relocate a tenant’s lease, such as providing advance notice or offering alternative space. Its core function is to provide flexibility for property owners to upgrade or repurpose their property while managing the impact on existing tenants.
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Redevelopment. The Parties agree that the Township may create a realistic opportunity for the construction of 49 family units by a) declaring the site an area in need of redevelopment; b)adopting a redevelopment plan for the site with the power of condemnation; and c) naming a redeveloper for the project, which must occur within one year of court approval of this Agreement. In addition, the Township shall transfer the land to a developer within 18 months of the approval of this agreement, which may be extended for good cause for a period of up to three (3) months. The Parties further agree that, in such an event, 24.5 acres of the site will be rezoned to permit a gross density of 10 units per acre, or 245 total units. Of the 245 total units, 49 shall be available to low- and moderate-income families. In the event of redevelopment with the power to condemn, the 196 market-rate units may be age-restricted and such a determination shall be solely within the discretion of the Township.
Redevelopment. To cancel this Lease at any time by giving Tenant at least twelve (12) months' prior written notice from the first day of any calendar month but only in the event Landlord intends to demolish the Building or intends to permit a major alteration to the Building, which in the judgment of Landlord requires vacancy of the Building.
Redevelopment. Upon the request of Sublessee, Sublessor will conduct, at its sole expense, a feasibility study or assessment to assess economic viability and competitiveness of the Facility with options for the redevelopment, addition to or construction of a new building for the Facility, with input and approval from Sublessee with respect thereto, and submit a proposal to the Landlord. Landlord will make reasonable best efforts to provide funds via HUD redevelopment programs in the amount supported by mutually accepted analysis and redevelopment.
Redevelopment. The Lessor may cancel this Lease Agreement without the payment of any compensation to the Lessee, upon giving notice of not less than the Notice of Redevelopment Period to the Lessee, if the Lessor wishes to redevelop or alter the Surrounding Property or any part thereof or to incorporate it into any scheme of redevelopment involving the Leased Premises, provided that this clause 46 shall not be applicable during the Initial Period.
Redevelopment. Without being affected by anything else in this Lease, if at any time during the Term we decide that:-
(i) the Building is to be demolished for redevelopment; or
(ii) the Building or any part of the Building is to be renovated, retrofitted, refurbished or altered, and this will affect the Premises, we may end this Lease by giving you 06 months' notice in writing. When this Lease ends, you must deliver vacant possession of the Premises to us in line with the terms of this Lease, and you will have no claim (including right of compensation) against us for ending this Lease. To avoid any doubt, this will not affect any rights and remedies that we may have against you in respect of any of your failure to keep to the terms and conditions of this Lease which occurred before the ending of this Lease. We may also offer you alternative space if available which you may relocate to within such time as we notify you and on such rent, lease term and other terms and conditions as we may decide. Whether or not you accept the offer, this will not affect your obligation to deliver vacant possession of the Premises on the date set out in the notice.
Redevelopment. Landlord shall have the right to terminate the LEASE effective at any time following January 31, 2017, provided that (i) LANDLORD shall provide TENANT with written notice of such termination (the “TERMINATION NOTICE”) at least 360 days prior to the termination date, (ii) any such termination shall be solely for the purpose of facilitating a re-development of the property in which the PREMISES is located; and (iii) TENANT shall be given an option to relocate the PREMISES to new premises on the following terms:
(a) The TERMINATION NOTICE shall depict preliminary plans for the proposed new premises (including parking) as well as LANDLORD’s opinion of fair market rental value therefore.
(b) The proposed new premises shall include a building of at least 15,000 square feet in size and otherwise shall be substantially equivalent or superior to the PREMISES as to the quality of furnishings and tenant fixtures, and the proposed new premises shall (A) be located within 350 feet of the Western boundary of the PREMISES, (B) face Wilshire Boulevard, (C) be substantially at ground level, provided that parking shall be convenient, but need not be at ground level, and (D) have parking ratios not less than required by applicable zoning laws and permit approvals.
(c) LANDLORD shall schedule and conduct any redevelopment so as to reasonably minimize any disruption of the TENANT’s business between the date of termination of the LEASE and the relocation to the new premises if TENANT makes such election to relocate to such new premises.
(d) The reasonable out-of-pocket costs and expenses incurred by TENANT in connection with such relocation shall be shared (split 50/50) between LANDLORD and TENANT.
(e) If TENANT makes an election to relocate to the new premises, the LEASE shall be amended to reflect the new premises and shall otherwise be on the same terms as this LEASE (e.g., the new lease shall be for the balance of the INITIAL LEASE TERM (if applicable) or the EXTENDED TERM, and if not already exercised, TENANT shall have the option of electing an EXTENDED TERM), except that the BASE RENT for such new premises shall be adjusted to the then “fair market value” as agreed-to by LANDLORD and TENANT as part of such election as provided in clause (f) below.
(f) LANDLORD and TENANT shall endeavor in good faith to determine the “fair market value” to be used as the Base Rent for the new premises (“NEW BASE RENT”) within forty-five (45) days from the date of the TERMINATION NOTICE. I...
Redevelopment. Redevelop demolished foreclosed homes as new housing construction.
Redevelopment. If at any time the Landlord shall decide to reconstruct, renovate, alter, remerchandise, sell and/or redevelop all or any part of the Shopping Centre to the extent that vacant possession of the Leased Premises is, in the discretion of the Landlord, required, or to demolish the building of which the Leased Premises form a part, the Landlord may terminate this Lease by giving not less than twelve (12) months notice in writing, to the Tenant without obligation or liability to the Tenant. The Tenant shall deliver up vacant possession of the Leased Premises in accordance with the provisions of the Lease and will execute all documents and other assurances as are reasonably required to give effect to the provisions of this Section. In the event that the Landlord proposes to renovate the Shopping Centre at any time during the Term, or any renewal thereof, and the Landlord does not elect to relocate the Tenant or terminate the Lease, the Tenant shall, at the Tenant's sole expense, undertake to upgrade the Leased Premises, which upgrading may include the renovation of the Tenant's storefront and signage, and painting and upgrading of interior fixtures, all in accordance with the Landlord's then current standard design criteria for refurbishment.
Redevelopment clean-up costs, loss or defence costs arising from the excavation or movement of any ground material as part of any redevelopment, refurbishment or construction on or at any insured premises.
Redevelopment. If Licensor successfully acquires the fee simple interest in all of the Remaining Property pursuant to the terms of the Subsequent Purchase Agreement, Licensor will succeed to HRF’s rights as the developer of the Project and, in such event, intends to redevelop the Project (the “Redevelopment”) to, among other things, (i) consolidate and resubdivide some of the existing CPR Ag Lots to create additional, reconfigured CPR Ag Lots, including a CPR Ag Lot roughly approximating the location and boundaries of the Ag Lot (the “Converted CPR Ag Lot”);