Community Approvals definition
Examples of Community Approvals in a sentence
For purposes of this Agreement, the term "Community Approvals" shall mean the Conditional Use approvals from the Land Management Board and/or any Tribal Council approvals (if required); and Design Review Committee Approval and/or any necessary zoning approvals from the Community Development Department.
In the event Buyer, despite its best efforts, has not obtained the Community Approvals prior to the expiration of the Approval Period and provided that Buyer is not in default of this Agreement, Buyer may, at its option, extend the Approval Period for thirty (30) days by providing written notice to Seller (the "First Extension Period").
During the Due Diligence Period and Approval Period, Buyer shall engage Seller to serve as its consultant to deal exclusively with the Community on all necessary Community Approvals described in this Section 5 and the Required Approvals.
The Permit Plans shall be prepared in accordance with the approved DRC Package and as required for this Agreement, the Substitute Lease, the Declarations, Community Approvals and applicable zoning and Community codes and regulations (as amended).
After Community Approvals are obtained and prior to the Closing Date, Buyer may, in its sole discretion, extend the Closing Date by up to one hundred twenty (120) days by (i) providing written notice to Seller of its intent to extend the Closing Date; and (ii) depositing into Escrow a non-refundable payment in the amount of One Million One Hundred Thousand Dollars and 00/100 ($1,100,000.00) ("Closing Extension Fee").
In the event Buyer has not obtained the Community Approvals prior to the expiration of the Approval Period and provided that Buyer is not in default of this Agreement, Buyer may, at its option, extend the Approval Period for 30 days by providing written notice to Seller (the "First Extension Period").
Buyer shall have 150 days after the Due Diligence Deadline Date (the "Approval Period") to obtain the Community Approvals.
Buyer and Seller intend that all Community Approvals shall be obtained on or before the date that is February 28, 2020 (the "Approval Period").
The CUP & DRC Package shall be submitted to the Community and Buyer shall take all necessary action to obtain Community Approvals during the Approval Period as set forth in Section 4.
If Buyer has not obtained the Community Approvals prior to the expiration of the First Extension Period and provided that Buyer is not in default of this Agreement, Buyer may extend the Approval Period for an additional 30 days by providing written notice to Seller.