Phase 2 Improvements definition

Phase 2 Improvements means all necessary on- and off-site improvements, on and off-site infrastructure, demolition, environmental clean-up, tests and studies only on any portion of the Property which is not initially owned in fee title by the County as of the Final Approval of Phase 1, grading and other on-site work that is necessary to prepare all of the Leasable Master Ground Lease Area for development, as defined in the Entitlements.

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Phase 2 Improvements means all site work that is not part of the Phase 1 Improvements, Buildings A, B, C, D, F, G, and H as shown on the Site Plan, ready for tenant improvements, and all common areas, all driveways, walkways, parking areas, landscaping, utilities, and pad sites as contemplated by the Plans, but excluding all tenant improvements.

Phase 2 Improvements means the Improvements related to Phase 2 which will be proposed by the Tenant in a detailed Phase 2 Component Business Plan for consideration and approval by City Council, for the development of a tower on the Lands by the Tenant. The Parties acknowledge that upon approval by City Council of the Phase 2 Business Plan and requirements, the Parties will negotiate an amendment to this Lease to include the requirements for Phase 2 Improvements.

Examples of Phase 2 Improvements in a sentence

• The Developer shall not be responsible for any increases in costs (i) solely attributable to a delay in meeting the time frames, as compared to the approved Phase 1 Schedule, attributable to County inactions, actions and approvals in its capacity as an owner of the Property; and (ii) associated with or resulting from legal action to challenge any County, City or other governmental approval of the Entitlements or the Phase 2 Improvements.

• Prior to the Final Approval of Phase 1, the Board, in its sole and absolute discretion, shall determine the amount of the County’s maximum contribution to the Phase 2 Improvements (“County’s Maximum Phase 2 Costs”).

• At the same time Developer is required to submit the Phase 2 Business Plan, Developer shall prepare and submit to the County a schedule for the design, plan check, permitting, construction and completion of the Phase 2 Improvements and the Final Map (the “Phase 2 Schedule”).

• Such cost estimates shall be updated as required to account for material changes in design in order to confirm that the Phase 2 Improvements can be completed within the Phase 2 Budget.

• Following completion of the Phase 2 Improvements for the portion of the Master Ground Lease Parcel identified in the applicable Acquisition Notice, Developer Party shall have the right to enter into a Ground Lease in accordance with the takedown plan specified in the Phase 2 Business Plan.

• Execution of the Master Ground Lease but Prior to Completion of the Phase 2 Improvements.

• At the same time Developer is required to submit the Phase 2 Business Plan, Developer shall prepare and submit to the County an estimated budget for the physical construction costs of the Phase 2 Improvements (“Phase 2 Budget”) for review and approval by the Project Lead.

• In addition, no later than twenty five (25) business days following the Final Approval of the Entitlements, Developer shall submit an updated ▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇ Budget and Phase 2 Schedule for the Phase 2 Improvements to the Project Lead for approval.

• Thereafter, if the Board terminates the Agreement prior to completion of the Phase 2 Improvements, and Developer is not then in default of the DDA or the Master Ground Lease, the following are Developer’s sole and exclusive remedies.

• Unless otherwise terminated pursuant to the terms of this Agreement, this Agreement shall terminate following completion of the Phase 2 Improvements.

More Definitions of Phase 2 Improvements

Phase 2 Improvements means an industrial building, in addition to the Improvements, containing approximately 200,000 square feet of space following construction thereof on the Land.

Phase 2 Improvements means the development and construction of any improvements on the Phase 2 Property other than the Phase 1 Owner Work. All Phase 2 Improvements shall be constructed by Phase 2 Owner at its cost and expense. The Parties anticipate that no Phase 2 Improvements shall be performed during the construction of the Phase 1 Owner Work.

Phase 2 Improvements means the Phase 2 Improvements described in Recital C and the Scope of Development.

Phase 2 Improvements means the Authorized Improvements which only benefit property within Phase #2 of the District, as described in Section III.B of the Service and Assessment Plan.

Phase 2 Improvements means all buildings and other improvements of whatever nature to the Maryland Property, the construction of which is required to properly develop the Maryland Property as contemplated in the Phase 2 Plans as they relate to the construction of a new convention and meeting space, and any other improvements the parties determine to complete it being understood that the Lender shall only be obligated to disburse Advances for the construction of the Phase 2 Improvements up to an aggregate amount of $2,000,000, all as shown on the Approved Budget.