Development Option Agreement definition
Examples of Development Option Agreement in a sentence
Except for distributions made in accordance with Article 5 of this Agreement and the fees and other payments set forth in the Development Option Agreement, or the Operating Agreement for any restaurant to be operated by the Joint Venture, the Venturers shall not be entitled to receive, directly or indirectly, any fees or other payments from the Joint Venture without the prior written consent of HNEF and FI.
The amount of such advance shall be $25,000 per month beginning on the date that the New Development Entity formed (as described in the Development Option Agreement) acquires title to the Development Land upon which the project is to be constructed and ending on the earlier of (a) the Development Agreement is terminated, or (b) the date construction of the project commences.
Optionor and the Optionee may each be referred herein as a “Party,” and together the “Parties” to this 3-D Seismic Acquisition and Development Option Agreement (this “Agreement”).
Optionor and the Optionee may each be referred herein as a “Party,” and together the “Parties” to Leasehold Acquisition and Development Option Agreement (this “Agreement”).
The General Partner shall have the right to provide the restaurant manager(s) with equity without payment of substantial capital or loans other than service contributions to the extent permitted by the Development Option Agreement.
Except for that certain West Florida Development Option Agreement dated January 1, 2001 (the "Development Agreement") by and between Seller and John L.
The Amended and Restated Development Property Lease, the Amended and Restated Lease Agreement (Stonegate, FGJN, and Division Street Land), the Amended and Restated Development Option Agreement and the Purchase Option Agreement, none of which shall be amended so long as a Leasehold Mortgage is outstanding, without the consent of the Leasehold Mortgagee, such consent not to be unreasonably withheld, conditioned or delayed.
This Agreement and the rights and obligations of the parties hereunder shall terminate and expire on the earlier to occur of (i) termination pursuant to section 4(c) or 5(c) hereof or (ii) termination of the Development Option Agreement.
Simultaneous with the execution of this Agreement, the Parties agree to execute for recording purposes a written Short Form of Exploration and Development Option Agreement, in the form attached hereto as Exhibit F, setting forth the basic terms and conditions of this Agreement as necessitated or permitted by Nevada law.
BHH and BHOP agree that, subject to the terms of this Agreement, BHOP shall have a right of refusal to exercise the rights of BHH arising out of Article II of the Development Option Agreement.