Development of Project Facilities Sample Clauses

Development of Project Facilities a) The Developer shall, at its own cost, undertake Development Activities for each of the Phases, in conformity to the Approved DPR and in accordance with the Project Completion Schedule set out in Schedule E. The Developer shall be entitled for an additional period (“Additional Period”) of 36 (thirty six) months from the Scheduled Phase Completion Date for undertaking Development Activities during the Construction Period, subject to payment of damages (“Damages”) to NRDA in the manner specified below. S No. Time frame within the of the additional period of 36 (thirty six) months Damages 1 First 12 (twelve) months 1% of the amount of Lease Premium, paid for the subject Part Project Site, for every month of delay. Provided that in an event where the Development Activities have not been completed for any Part Project Site by the Developer and the Additional Period has been utilized completely by the Developer, the same shall constitute, Developer Default and NRDA shall be entitled to terminate this Agreement in accordance with Article 20. The Damages shall be paid by the Developer within the 10th day of every month for the delay of previous month and in an event of nonpayment within the scheduled period, the Developer shall pay interest calculated at the rate equal to 4% (four percent) above the Bank Rate, compounded annually, from the relevant date till the date of payment/ realisation. Delay in payment of Damages beyond a period of 2 (two) months shall cause appropriation of equivalent amount from Performance Security. In the event of appropriation of part of Performance Security, the Developer shall replenish the Performance Security to its original level, within 30 (thirty) days of such appropriation failing which the entire amount of Performance Security shall be forfeited.
Sample 1
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Related to Development of Project Facilities

  • Development of the Project 4.1 TSP's obligations in development of the Project: Subject to the terms and conditions of this Agreement, the TSP at its own cost and expense shall observe, comply with, perform, undertake and be responsible:

  • Payment of Project Activities County will reimburse Subrecipient for eligible project-related costs only. Subrecipient shall submit requests for reimbursement to County on a monthly basis beginning on August 1, 2021, and must provide adequate documentation as required by County in accordance with the OC Community Resources Contract Reimbursement Policy, as set forth in Exhibit 1, attached hereto and incorporated herein by reference. In addition, Subrecipient will provide a progress Grantee Performance Report (“GPR Information Form”) for the time period covered, as prescribed by County. Failure to provide any of the required documentation and reporting will cause County to withhold all or a portion of a request for reimbursement, or return the entire reimbursement package to Subrecipient, until such documentation and reporting has been received and approved by County.

  • Construction Development of the Project The Allottee has seen the proposed layout plan/demarcation-cum-zoning/sanctioned plans, / site plan / building plan, specifications, amenities and facilities, etc. depicted in the advertisement / brochure / agreement / website (as the case may be) regarding the Project where the Said Independent Floor for residential usage along with parking is located and has accepted the floor / site plan, Payment Plan and the specifications, amenities, facilities, etc. [annexed along with this Agreement] which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop the Project in accordance with the bye-laws such as Haryana Building Code, 2017, FAR, density norms, provisions prescribed, approved plans, terms and condition of the license/ allotment as well as registration of RERA, etc. Subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent authorities and shall also strictly abide by the provisions and norms prescribed by the relevant State laws and shall not have an option to make any variation/ alteration/ modification in such plans, other than in the manner provided under the Act and Rules made thereunder or as per approvals/instructions/ guidelines of the competent authorities, and any breach of this term by the Promoter shall constitute a material breach of the Agreement.

  • PROJECT 3.01. The Recipient declares its commitment to the objectives of the Project. To this end, the Recipient shall carry out the Project in accordance with the provisions of Article IV of the General Conditions.

  • Completion of Project The Borrower shall carry out the Project in accordance with the Technical Description as may be modified from time to time with the approval of the Bank, and complete it by the final date specified therein.

  • Development of the Property Except as modified by this Agreement, the Development and the Property will be developed in accordance with all applicable local, state, and federal regulations, including but not limited to the City’s ordinances and the zoning regulations applicable to the Property, and such amendments to City ordinances and regulations that that may be applied to the Development and the Property under Chapter 245, Texas Local Government Code, and good engineering practices (the “Applicable Regulations”). If there is a conflict between the Applicable Regulations and the Development Standards, the Development Standards shall control.

  • Construction of Project 11.1.1 Developer agrees to cause the Project to be developed, constructed, and installed in accordance with the terms hereof and the Construction Provisions set forth in Exhibit D, including those things reasonably inferred from the Contract Documents as being within the scope of the Project and necessary to produce the stated result even though no mention is made in the Contract Documents.

  • The Project The Project is the total construction of which the Work performed under the Contract Documents may be the whole or a part.

  • Payment of Project Costs The Grantee agrees that it will provide for payment of its full share of Project costs and that all costs connected with the Project will be paid by the Grantee on a timely basis.

  • Project Initiation i - Upon final execution of the Agreement with the DISTRICT, the ARCHITECT shall: ♦ Review the Program Management Plan (PMP) with the DISTRICT and its representatives to familiarize them with the proposed tasks and schedule and develop necessary modifications. The PMP defines the Program Master Schedule and Budgets and each Project scope and budget.

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