Examples of Development Parcel in a sentence
Promptly after Completion of Improvements with respect to each Development Parcel in conformity with this Lease, the Landlord shall deliver to the Tenant a Release of Construction Covenants, executed and acknowledged by Landlord.
The Release of Construction Covenants shall be a conclusive determination of satisfactory completion of the Improvements with respect to each Development Parcel, and the Release of Construction Covenants shall so state.
It shall be at the Director’s absolute and sole discretion regarding whether or not to allow the sale of one or more Development Parcel pursuant to this Article 24.
The terms of this Article 25 shall terminate upon the Sale of the Property (or, if applicable, each Development Parcel) by the Tenant to a person or entity that is not affiliated with the Tenant.
If the Director consents to the sale of one or more Development Parcel pursuant to this Article 24, then (i) the purchase price for such portion of the Property shall be an amount equal to the Purchase Price multiplied by a fraction, the numerator of which is the number of square feet of land that comprises the portion of the Property to be sold, and the denominator of which is the number of square feet of land that comprises the Property.