Applicable Component definition
Examples of Applicable Component in a sentence
In no event, however, shall the amount or amounts of indebtedness secured by mortgages or deeds of trust on the Site prior to completion of the Applicable Component exceed the projected cost of developing the Applicable Component, as evidenced by a pro forma and a construction contract which have been delivered to the Director prior to the Director’s approval of such financing, setting forth such costs, unless the written approval of the Director is first obtained.
In furtherance of the aforesaid, MDLP shall promptly execute such documents as shall be necessary in order that the eligible remediation costs shall be transferred and/or assigned to the Applicable Component tenant under the Brownfields Agreement.
The Developer shall submit all Design Development Drawings, Grading Plans, and Building Improvement Plans (and City shall provide written responses to such submittals), and shall commence and complete all construction of the Applicable Component and Developer and City shall satisfy all other respective obligations and conditions of this Agreement, within the times established therefor in the Schedule of Performance, as the same is subject to Section 602.
The City’s right to such conveyance shall expire if: (i) City fails to notify the holder in writing within thirty (30) days after City receives written notice from the holder that such holder has obtained ownership of the Applicable Component, or (ii) within sixty (60) days after the City receives written notice from the holder that such holder has obtained ownership of the Applicable Component (or portion thereof), the City nevertheless fails to tender full payment for the Applicable Component.
Not Applicable Component of labour expressed as percent of total value of work.
If, the Applicable Component is an Office Component, the Office/Hotel Development Election Notice may provide that the Office Component will be developed in phases (then each of Buildings A through D (as defined in the Redevelopment Agreement) shall be developed in one or more phases), such that the aggregate square feet of the office buildings is approximately 1,760,000, or such lesser amount as required pursuant to zoning ordinances, approvals and the Redevelopment Agreement.
The holder of any mortgage or deed of trust authorized by this Agreement shall not be obligated by the provisions of this Agreement to construct, complete, or operate the Applicable Component or any portion thereof, or to guarantee such construction, completion or operation; nor shall any covenant or any other provision in this Agreement be construed so to obligate such holder.
Not Applicable Component of P.O.L expressed as percent of total value of work.
Before commencement of construction of any Component or other works of improvement upon the Site, the Developer shall, at its own expense, secure or cause to be secured any and all land use and other permits and approvals which may be required for the Applicable Component by the City or any other governmental agency affected by such construction or work.
In the event of a mortgage or deed of trust default or breach by the Developer prior to the completion of the construction of the Applicable Component or any part thereof, Developer shall immediately deliver to City a copy of any mortgage holder’s notice of default.