Eligible Development definition
Examples of Eligible Development in a sentence
The Aggregate Commitment shall be used by Tularik to finance the portion of Development Costs to be borne by Tularik for [*] (or equivalent) pursuant to this Agreement [*], commencing with the initiation of [*] (or equivalent)(the "Eligible Development Costs").
In addition to the foregoing, during the [*] period immediately following the receipt by the Parties of executed reports covering all aspects of [*] on a Product, JT and Tularik shall negotiate in good faith the terms and conditions under which JT may [*] the Aggregate Commitment, and the definition of Eligible Development Costs, to include Development Costs to be incurred in [*].
If Developer does not satisfy the conditions in Paragraph 1(C), the City’s Portion shall be zero and the Developer’s Portion shall be 100% of the Eligible Development Expenses.
Notwithstanding the foregoing, the City shall not be obligated to pay any Eligible Development Expenses in excess of the Cap Amount.
At the time Developer obtains each building permit for the Project, Developer shall provide the City with a guaranty, cash escrow, letter of credit, or other security for the payment of all Eligible Development Expenses that would be due (but for the deferment set forth in Paragraph 1(A)) as a condition to issuing such building permit (“Security”).