ZRZ definition
Examples of ZRZ in a sentence
PDC and ZRZ shall agree in writing to the terms and timeline for reimbursement by PDC to ZRZ in advance of any costs being incurred.
PDC is not obligated to reimburse ZRZ for any costs incurred prior to both parties’ execution of a written agreement on the terms and timeline of reimbursement.
If PDC does not provide such funding, ZRZ may, in its sole discretion, design and construct the Project to include Compatible Systems but is not obligated to do so.
Upon completion of construction of the Bond Avenue ▇▇▇▇▇ Project, ZRZ will immediately convey to the City all of the right-of-way for construction of the Bond Avenue ▇▇▇▇▇ Project, subject to Section 9.3 (Environmental) of this Agreement.
If after consultation with BES, ZRZ in its reasonable discretion determines preliminarily that the project is feasible; ZRZ shall complete a District Stormwater System plan that is sufficiently designed to complete the concept phase, inform the design of Bond Avenue undertaken by PBOT staff, and serve as the basis for a potential agreement between City bureaus and ZRZ for future improvements.
ZRZ shall receive a purchase price for the Affordable Housing Parcel determined as follows (the “Affordable Housing Parcel Purchase Price”).
Provided, however, PDC shall not be obligated to cause the design and construction work for the Bond Avenue ▇▇▇▇▇▇ Project unless and until such time as ZRZ has achieved Commencement of Construction of the Block 6 Project and the Bond Avenue ▇▇▇▇▇ Connector Project has been commenced.
The RSUs will be granted pursuant to separate award agreements setting for the vesting and other terms and conditions of such awards.
In the event that PDC cannot satisfy its obligation to identify sufficient funding by such time, the sole remedy for ZRZ is to construct a standalone stormwater system and PDC will not be obligated to contribute to the costs of such system.
Subject to Section 9.3 (Environmental), ZRZ shall convey the right-of-way to the City for the property underlying all improvements associated with the Bond Avenue ▇▇▇▇▇ Connector Project and Bond Avenue ▇▇▇▇▇▇ Project.