Wet Utilities definition
Examples of Wet Utilities in a sentence
The Wet Utilities that serve each Phase of the Builder Lots that will trigger the Builder’s payment obligation upon Substantial Completion thereof are identified on Exhibit G.
Upon Substantial Completion of the Wet Utilities that serve the Phase 1 Lots in accordance with Section 4.5 above, Builder shall pay to Developer one-half (1/2) of the Deferred Purchase Price due for each of the Phase 1 Lots, as set forth on Exhibit G, attached hereto and incorporated herein by this reference (the “Takedown Matrix”) plus the applicable Escalator.
Upon Substantial Completion of the Wet Utilities that serve the Phase 2 Lots in accordance with Section 4.5 above, Builder shall pay the Developer a portion of the Deferred Purchase Price for Phase 2 in the amount of $1,900,000.00 plus the Escalator.
Upon Substantial Completion of the Wet Utilities that serve the Phase 4 Lots in accordance with Section 4.5 above, Builder shall pay to Developer one-half (1/2) of the Deferred Purchase Price due for each of the Phase 4 Lots, as set forth on Takedown Matrix plus the applicable Escalator.
The Project Designer will employ Wet Utilities Engineers to design all of the wet infrastructure systems.
Upon Substantial Completion of the Wet Utilities that serve the Phase 1 Lots in accordance with Section 4.5 above, Builder shall pay the Developer a portion of the Deferred Purchase Price for Phase 1 in the amount of $1,900,000.00 plus the Escalator.
Upon Substantial Completion of the Wet Utilities that serve the Phase 1 Lots in accordance with Section 4.5 above, Builder shall pay the Developer a portion of the Deferred Purchase Price for Phase 1 in the amount of $1,350,000.00 plus the Escalator.
Upon Substantial Completion of the Wet Utilities that serve the Phase 3 Lots in accordance with Section 4.5 above, Builder shall pay to Developer one-half (1/2) of the Deferred Purchase Price due for each of the Phase 3 Lots, as set forth on Takedown Matrix plus the applicable Escalator.
The Parties hereto acknowledge and agree that, as of the Effective Date, Seller has Substantially Completed, or caused to be Substantially Completed, the Wet Utilities for all Takedown 2 Lots and further agree that all conditions related to Purchaser's obligation to pay that portion of the Deferred Purchase Price due upon such Substantial Completion of the Wet Utilities have been satisfied.
Upon Substantial Completion of the Wet Utilities that serve the Phase 2 Lots in accordance with Section 4.5 above, Builder shall pay to Developer one-half (1/2) of the Deferred Purchase Price due for each of the Phase 2 Lots, as set forth on Takedown Matrix plus the applicable Escalator.