MDRT definition
Examples of MDRT in a sentence
In recognition that the Villages MPD and ▇▇▇▇▇▇ Hills MPD build-out may fluctuate to follow market demands, the Parties acknowledge and agree that BD Village and/or ▇▇ ▇▇▇▇▇▇ may elect to reduce, or eliminate, MDRT staffing during the Annual Review described in Section 6.
In the event of: (i) a full Wind-Down of Support Staff, Essential Staff, and Core Staff positions by BD Village and/or ▇▇ ▇▇▇▇▇▇; or (ii) a decision by BD Village and/or ▇▇ ▇▇▇▇▇▇ to cease operations of the MDRT for a calendar year, the City shall exercise its best efforts to organize and make available to Developer at Developer’s cost copies of all public records related to the affected MPD or MPDs, and to summarize any open MDRT items.
The Developer’s total funding obligation under this Agreement shall be the sum of the City Staffing Shortfalls plus the MDRT Costs plus the City Fiscal Shortfalls, if any (hereinafter “Total Funding Obligation”), less any duplication in Developer’s payment obligation among those three funding categories.
Subject to the MDRT Costs provision of this Agreement, Developer commits to fund one hundred percent (100%) of the then-actual salary and benefit costs of the City staff positions listed on Exhibit C attached hereto and incorporated herein, less any amounts actually received by the City from another applicant for payment of such salary and benefit costs (the “City Staffing Shortfalls”).
Within forty-five (45) days of the Effective Date, Developer shall provide to the City funds in the amount of fifty thousand dollars ($50,000.00) (the “Consultant Deposit”) as a security deposit for ongoing consulting fees and costs incurred under the MDRT for the Villages MPD and/or ▇▇▇▇▇▇ Hills MPD implementing development permit review and processing.
The Developer shall fund one hundred percent (100%) of the costs of the MDRT by paying: (i) the salary and benefit costs of City Staff MDRT members identified in Section 3(a), less any amounts actually received by the City from others pursuant to Section 2; (ii) the actual amounts invoiced by consultants; and (iii) the FFE associated with such City Staff MDRT members (the “MDRT Costs”).
Prior to September 20th of each calendar year or on a date mutually agreed to by the City and Developer, the City and Developer shall conduct an annual review with members of the MDRT (the “Annual Review”).
MDRT Costs shall also initially include the purchase of three (3) vehicles exclusively for the MDRT – two (2) pool vehicles and one (1) inspection vehicle – the costs of which shall not exceed $125,000.00 in total.
In recognition of the advantage of both parties of ensuring continuity through the review and processing of implementing development permits, the City may choose to offer multiyear employment contracts to some or all members of the MDRT; provided, however, that such contracts shall not increase Developer’s Total Funding Obligation nor impair Developer’s ability to exercise its rights pursuant to Section 2(c) (“Wind-Down and Wind-Up”) as set forth herein.
The MDRT shall become effective upon approval of The Villages or ▇▇▇▇▇▇ Hills Development Agreement, provided that if an additional staff member or consultant has not yet been hired, the City agrees to review and process implementing development permits using City staff funded pursuant to the City Staffing Funding Shortfalls section outlined above.