Development Commitment definition

Development Commitment means a Development Proposal, at the time, if any, that such Development Proposal is approved by any Governmental Authority or other Person having jurisdiction over the subject matter of such proposal and is binding upon Company or any of its Subsidiaries; provided that a Development Proposal when so approved shall not be deemed to constitute a Development Commitment until such time as Company and/or any of its Subsidiaries have expended $5,000,000 in the aggregate in furtherance of such Development Proposal. The Dollar amount of any Development Commitment as of any date of determination shall be (X) the amount set forth therein or, if no such amount is set forth, the good faith estimate of Company's Board of Directors of the amount necessary to complete the development, expansion or refurbishment (but not ordinary operating expenses) that is the subject of such Development Commitment (exclusive of any portion of such amount that has already been expended by Company or any of its Subsidiaries on such date of determination) minus (Y) the portion, if any, of such amount that is, pursuant to a binding commitment from a reputable Person that is not an Affiliate of Company or any of its Subsidiaries, the sole responsibility of such non-Affiliate to provide, it being understood that if, at any time on or after such a binding commitment is obtained, Company or any of its Subsidiaries shall become or remain obligated, directly or indirectly, to any Person for any such amount described in this clause (Y) other than solely by virtue of Company's or such Subsidiary's status as a joint venturer or general partner, such amount shall no longer be deductible in determining the Dollar amount of such Development Commitment.
View Source
Development Commitment means Developer’s agreement and obligation to complete construction of the Office Building on the Office Site. Divestiture Payment means (i) the amount of the proceeds of the Project Loan disbursed pursuant to the terms and conditions of the Project Loan Documents; plus (ii) unpaid, accrued interest on the Project Loan at the regular (non-default) rate of interest. Effective Date means the date in the first paragraph of this Agreement.
View Source
Development Commitment means a binding written agreement between the City and a Telecommunications Company approved by the Chief Administrative Officer and adopted by the Memphis City Council pursuant to authority granted by this Ordinance. In addition to other requirements, the Development Commitment will contain a Commencement Date, a date for completion, and requirements to submit periodic status reports to the City.
View Source

Examples of Development Commitment in a sentence

  • As part of the Additional Obligations of the Parties described in Section VII of the Agreement, Interior and any Party that elects to participate shall meet to share information and individual comments on any aspect of the implementation and administration of Interior’s Clean Energy Development Commitment.

  • The Interior Clean Energy Development Commitment facilitates an increasing percent of Clean Energy from 2015 through the end of 2035.

  • If, within thirty (30) business days after receipt of the notice, the Company fails to commence performance to the reasonable satisfaction of the City, then the City may terminate the waiver of the City’s Fees upon written notice delivered to the Company of same unless and until such time as the Company comes into compliance with the Development Commitment.

  • These 60-minute meetings will be collaborative meetings by departments which will fulfill the Seven (7) hours of collaborative work required as part of the Professional Development Commitment.

  • Developer hereby acknowledges and agrees that Developer’s agreement to Continuously Construct the Project after it Commences Construction and fulfill the Development Commitment is in consideration and a material inducement for the City’s and Building Corp.’s obligations described herein.

  • In consideration and as a material inducement for Genezen fulfilling the Development Commitment and Employment Commitment, the City shall, (A) pursuant to and consistent with Ind.

  • Further, during the Term, the City may request information from Knowledge Services concerning its fulfillment of the Development Commitment and Employment Commitment, including, without limitation, the number of FTEs employed from the Site (individually or collectively, "Additional Compliance Information"), and Knowledge Services shall provide Additional Compliance Information within twenty (20) days of such request.

  • The inclusion of the Rovigo Project as part of any Project Submittal Tranche, unless agreed to by FR Holdings, shall not be counted toward the Development Commitment.

  • Whenever Evergreen declines or fails to provide a Co- Development Commitment within the Commitment Period with respect to a Prospective Co-Development Project, the applicable Prospective Co- Development Project shall no longer be subject to the Co-Development Right, and ▇▇▇▇▇ may pursue and consummate alternative financing and/or co-development arrangements with third parties with respect to such Prospective Co-Development Project.

  • The Development Commitment is subject to: (1) the City’s compliance with its obligations set forth herein; (2) the Company obtaining all final and unappealable governmental and internal Company approvals necessary to develop the Real Estate and construct the Store; (3) the Company’s satisfaction on or before May 31, 2016, that the City will be able to comply with the Schedule (defined below); and (4) the Company acquiring title to the Real Estate.


More Definitions of Development Commitment

Development Commitment means the commitment of SunEdison to submit Projects to the JV Entities providing for an aggregate amount of megawatts of electric energy generating capacity sufficient to require investment of 100% of the aggregate Initial Capital Commitments (assuming a 4:1 ratio of Project Debt Financing to equity with respect to each Project) by no later than three (3) years from the Closing Date; provided that no Project shall count towards the Development Commitment (i) until such time as SunEdison provides the Mandatory Project Due Diligence in respect of such Project or (ii) if the Expected Project Timeline contemplates a date of Substantial Completion (as such term is defined in the EPC Agreement) which is greater than eight (8) months from the date of the notice of Project Submittal Tranche (in which case the Project would only count towards the Development Commitment if and at such time as the JV Entity accepts the Project Submittal Tranche in which such Project is included). The inclusion of the Rovigo Project as part of any Project Submittal Tranche, unless agreed to by FR Holdings, shall not be counted toward the Development Commitment.
View Source
Development Commitment means the commitment of SunEdison to submit Projects to the JV Entities providing for an aggregate amount of megawatts of electric energy generating capacity sufficient to require investment of 100% of the aggregate Initial Capital Commitments (assuming a 4:1 ratio of Project Debt Financing to equity with respect to each Project) by no later than three (3) years from the Closing Date; provided that no Project shall count towards the Development Commitment (i) until such time as SunEdison provides the Mandatory Project Due Diligence in respect of such Project or (ii) if the Expected Project Timeline contemplates a date of Substantial Completion (as such term is defined in the EPC Agreement) which is greater than eight (8) months from the date of the notice of Project
View Source

Related to Development Commitment

  • Development Budget has the meaning set forth in Section 3.1.

  • Development Consent means the consent granted to the Development Application for the Development and includes all modifications made under section 4.55 of the Act.

  • Research facility means buildings and structures, including machinery and equipment, used or to be used primarily for research or experimentation to improve or develop new tangible goods or materials or to improve or develop the production processes thereto.

  • Development Plan has the meaning set forth in Section 3.2.

  • Development Period means the period from the date of this Agreement until the Appointed Date;