Future Phase definition
Examples of Future Phase in a sentence
It is clearly understood and so agreed by and between the Parties hereto that all the provisions contained herein and the obligations arising hereunder in respect of the Designated Apartment and the Project and/or projects on Future Phase Lands, if any, shall equally be applicable to and enforceable against any subsequent allottees of the Designated Apartment, in case of a transfer, as the said obligations go along with the Designated Apartment for all intents and purposes.
It is clarified that the liability of the allottees of the projects in Future Phase Lands shall commence only from the date when the membership of the Sargam Club is granted to them.
From time to time during the Appointment Period, Declarant may unilaterally add to the Development Property additional real property adjacent to the Development Property and subject same to the Development Property as Future Phase Property.
Provided That with respect to the development on the Future Phase Lands, nothing herein contain shall derogate or prejudice or affect the Promoter's rights and entitlements with regard to the matters connected to the plan and the additions alteration thereof.
The Promoter at its sole discretion can independently deal with the said Future Phase Lands in any manner whatsoever.
The Allottee shall have the right to use Shared Facilities and the Sargam Club in common with the Owner, the Promoter and other Co-owners of the Project and the projects that may be developed on Future Phase Lands or any part thereof, as the Promoter may in its sole discretion decide from time to time, and other persons permitted by the Promoter.
The portion of the Future Phase Contribution due upon the issuance of a building permit as described above the shall be wired to the City in immediately available federal funds within fifteen (15) days after no appeal to such permit is filed, or if filed, is resolved to US2’s satisfaction.
The Club Facility will be under the Supervision and Management of the Promoter and the Promoter proposes to have a separate maintenance body for the Club which will co-ordinate with the Maintenance In-charge for the First Phase, the Project and each Future Phase.
The referenced Construction Management Fees shall be paid as set forth in the approved Pro Forma for each Future Phase.
Without in any way limiting US2’s obligations under the MDDA, MLDA or any related land disposition agreement (whether executed by US2 or an affiliate) entered into with the SRA, US2 shall contribute funds in the amount of $2.00 per gross square foot of development of a Future Phase (the “Future Phase Contribution”).