Incomplete Developments definition
Examples of Incomplete Developments in a sentence
If Seller or the applicable Subsidiaries do not complete and pay all amounts in respect of the development, redevelopment and/or renovation of one or both of the Redevelopment Properties prior to Closing (the "Incomplete Developments"), Seller will give Purchaser a credit against the Purchase Price payable at Closing in an amount equal to the unexpended portion of the Redevelopment budget described in Schedule 7.6-A of the Disclosure Schedule.
If the applicable Subsidiaries do not complete and pay all amounts in respect of the development, redevelopment and/or renovation of one or both of the Redevelopment Properties prior to Closing (the "Incomplete Developments"), Seller will credit to the Purchase Price payable at Closing an amount equal to the excess of the budget amount for the Incomplete Development over the amount expended by Seller in respect of that redevelopment through the Closing Date (the "Redevelopment Payment").