Speculative Development Clause Samples

The Speculative Development clause defines the terms under which a party, typically a developer, undertakes a project without a guaranteed end-user or buyer in place. This clause outlines the responsibilities, risks, and potential rewards for proceeding with construction or development before securing a committed tenant or purchaser, often specifying how costs and profits are shared if a buyer is later found. Its core function is to allocate risk between parties and provide a framework for moving forward with development in uncertain market conditions, thereby enabling projects to proceed even when demand is not yet confirmed.
Speculative Development. None of the Borrowers nor any of their respective Controlled Subsidiaries or Non-Controlled Subsidiaries shall engage, directly or indirectly, in the development or construction of real estate other than land development and the construction by Commercial Company of golf courses and the construction by Commercial Company and its Controlled Subsidiaries and Non-Controlled Subsidiaries of Vertical Commercial Improvements; provided, however, that neither Commercial Company nor any of its Controlled Subsidiaries or Non- Controlled Subsidiaries shall engage directly or indirectly in any Vertical Commercial Improvements that would constitute a Speculative Development which causes at any time (a) the cost of completing such development (on a fully developed basis including land) of Commercial Company and its Controlled Subsidiaries and Non-Controlled Subsidiaries (from borrowings and equity) to exceed $35,000,000.00 in the aggregate at any time, and (b) the aggregate square footage of all Speculative Development (whether under construction or complete) to exceed 375,000 square feet (provided that Commercial Company's percentage ownership interest in its Controlled Subsidiaries and Non-Controlled Subsidiaries shall not be considered in testing Commercial Company's compliance with the limitations contained in this Section 8.9).
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Speculative Development. Development of Commercial Land or Residential Land for (a) hotel, (b) multifamily or (c) office, retail or research/industrial use which is less than sixty-five percent (65%) leased pursuant to Third Party Leases. A lease shall not be deemed a lease with an Affiliated Person in the event that a Borrower, any of the General Partners, any Second Tier Partner, any of the Third Tier Partners, any Guarantor, or any of their Restricted Subsidiaries or Unrestricted Subsidiaries enters into a joint venture with a third party unaffiliated with any of such Persons which in turn leases a portion of such property to such unaffiliated Person. In the event that any of such property is to be leased to an Affiliate of a Borrower, any of the General Partners, any Second Tier Partner, any of the Third Tier Partners, any Guarantor, or any of their Restricted Subsidiaries or Unrestricted Subsidiaries, the square footage subject to such lease shall be deducted from the overall square footage of the project and excluded in calculating compliance with the foregoing tests. Once a particular development is leased at or above such level, such development shall cease to be a Speculative Development, and shall be an Income Producing Property. Stated Rate. See §4.14(b). Stibbs. ▇▇▇▇ ▇. ▇▇▇▇▇▇, ▇▇., as Trustee for a Borrower.
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Speculative Development. Development of Commercial Land or Residential Land, if applicable, for office, retail or research/industrial uses which is less than eighty percent (80%) (sixty percent (60%) for a supermarket, grocery store, food market or drug store anchored retail development) leased pursuant to a bona-fide arm's length lease to third parties that are not an Affiliate of any Borrower, any of the General Partners, any Guarantor, or any of their Controlled Subsidiaries or Non- Controlled Subsidiaries at the time construction commences. A lease shall not be deemed a lease with an Affiliated Person in the event that a Borrower, any of the General Partners, any Guarantor, or any of their Controlled Subsidiaries or Non-Controlled Subsidiaries enters into a joint venture with a third party unaffiliated with any of such Persons which in turn leases a portion of such property to such unaffiliated Person. In the event that any of such property is to be leased to an Affiliate of a Borrower, any of the General Partners, any Guarantor, or any of their Controlled Subsidiaries or Non-Controlled Subsidiaries, the square footage subject to such lease shall be deducted from the overall square footage of the project and excluded in calculating compliance with the foregoing tests. Once a particular development is leased at or above such level, such development shall cease to be a Speculative Development.
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Speculative Development. Redeveloper represents its undertakings pursuant to this Redevelopment Agreement are for the purpose of redevelopment of the Property and not for speculation in land holding. Redeveloper shall not use the Property, or any part thereof, as secured collateral for an unrelated transaction.
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Speculative Development. Development of Commercial Land or Residential Land for office, retail or research/industrial use which is less than seventy percent (70%) leased (or sixty percent (60%) leased for a grocery anchored retail development) pursuant to a bona-fide arm’s length lease to third parties that are not an Affiliate of any Borrower, any of the General Partners, any Second Tier Partner, any of the Third Tier Partners, any Guarantor, or any of their Restricted Subsidiaries or Unrestricted Subsidiaries at the time construction commences. A lease shall not be deemed a lease with an Affiliated Person in the event that a Borrower, any of the General Partners, any Second Tier Partner, any of the Third Tier Partners, any Guarantor, or any of their Restricted Subsidiaries or Unrestricted Subsidiaries enters into a joint venture with a third party unaffiliated with any of such Persons which in turn leases a portion of such property to such unaffiliated Person. In the event that any of such property is to be leased to an Affiliate of a Borrower, any of the General Partners, any Second Tier Partner, any of the Third Tier Partners, any Guarantor, or any of their Restricted Subsidiaries or Unrestricted Subsidiaries, the square footage subject to such lease shall be deducted from the overall square footage of the project and excluded in calculating compliance with the foregoing tests. Once a particular development is leased at or above such level, such development shall cease to be a Speculative Development. Stibbs. ▇▇▇▇ ▇. ▇▇▇▇▇▇, ▇▇., as Trustee for a Borrower.
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Related to Speculative Development

  • Sustainable Development 4.1 The Authority will review the Contractor’s Sustainable Development Policy Statement and Sustainable Development Plan submitted by the Contractor in accordance with the Schedule (Sustainable Development Requirements) and then at least annually thereafter. 4.2 Sustainable Procurement Risk Assessment Methodology (SPRAM) is a tool used by the Authority to identify and mitigate any potential risks to sustainability in contracts. The process requires that each Contract be assessed for its potential social, economic and environmental risks, throughout the various stages of its lifetime. Where risks are identified, appropriate mitigation action is required to reduce or eliminate the risk to sustainability. The Authority may at times require input from the Contractor in order to ensure that this process is given the required levels of consideration.

  • Project Development a. Collaborate with COUNTY and project clients to identify requirements and develop a project Scope Statement. a. Develop a Work Breakdown Structure (WBS) for each project. b. Evaluate Scope Statement to develop a preliminary cost estimate and determinate whether project be vendor bid or be executed under a Job Order Contract (JOC).

  • Program Development NWESD agrees that priority in the development of new applications services by WSIPC shall be in accordance with the expressed direction of the WSIPC Board of Directors operating under their bylaws.

  • Research and Development (i) Advice and assistance in relation to research and development of Party B; (ii) Advice and assistance in strategic planning; and

  • Skills Development The Company acknowledges the changing pace of technology in the electrical contracting industry and the need for employees to understand those changes and have the necessary skill requirements to keep the Company at the forefront of the industry. The Parties to this Agreement recognise that in order to increase the efficiency, productivity and competitiveness of the Company, a commitment to training and skill development is required. Accordingly, the parties commit themselves to: i) Developing a more highly skilled and flexible workforce. ii) Providing employees with career opportunities through appropriate training to acquire the additional skills as required by the Company. Taking into account; The current and future skill needs of the Company. The size, structure and nature of the Company. The need to develop vocational skills relevant to the Company and the Electrical Contracting Industry. Where, by agreement between the employee and employer, an employee undertakes training providing skills, which are not a company specific requirement, any time spent in the completion of this training shall be unpaid.