Developer's Obligation to Develop Premises Clause Samples

The Developer's Obligation to Develop Premises clause requires the developer to construct, renovate, or otherwise prepare a property according to agreed specifications and timelines. This clause typically outlines the standards of work, deadlines for completion, and may specify milestones or deliverables that must be met during the development process. Its core function is to ensure that the developer is contractually bound to deliver the premises as promised, thereby protecting the interests of the property owner or tenant and reducing the risk of delays or substandard work.
Developer's Obligation to Develop Premises. Developer agrees to ------------------------------------------ commence the construction of improvements upon Parcel 3 or Parcel 4 of the Premises on or before May 1, 1990, subject to marketing conditions then existing and the granting of all required governmental approvals and subject to subsection 17.3. After completion of the first building on Parcel 3 or Parcel 4, Developer shall use its best efforts to undertake as expeditiously and fully as is reasonable possible in the exercise of sound business judgment, the planning and construction of improvements upon the other of Parcel 3 or Parcel 4 of the Premises to the end that there will be ultimately constructed as a part of the Project the development contemplated in the Basic Concept Documents or its alternative as approved by Landlord pursuant to subsection 7.3.7. Developer intends to conform to the construction schedule attached as Exhibit "J" entitled "Construction Schedule" but is not required to do so, except as provided in this subsection. In the event Developer has not commenced construction on the last of either Parcel 3 or Parcel 4 by January 1, 1993, then the fair market rental value of said parcel shall be adjusted in the manner set forth in Section 3.2, as of
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Developer's Obligation to Develop Premises. Developer has ------------------------------------------ completed the construction of improvements upon both Parcel 1 and Parcel 2 of the Premises, consisting of a 128,981 square foot 3-story building on Parcel 1, and a 98,243 square foot 2-story building on Parcel 2, as a part of the development contemplated in the Basic Concept Documents or its alternative as approved by Landlord pursuant to subsection 7.3.7.
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Developer's Obligation to Develop Premises. Developer has ------------------------------------------ commenced the construction of improvements upon both Parcel 5 and Parcel 6 of the Premises as a part of the development contemplated in the Basic Concept Documents or its alternative as approved by Landlord pursuant to subsection 7.3.7.
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Developer's Obligation to Develop Premises. Developer ------------------------------------------ agrees to commence the construction of improvements upon the Premises, including the first building, on or before September 1, 1985, subject to granting of all required governmental approvals and subject to subsection 17.3. After completion of the initial building, Developer shall use its best efforts to undertake as expeditiously and fully as is reasonably possible in the exercise of sound business judgment, the planning and construction of improvements upon Premises and to further the interest thereof to the end that there will be ultimately constructed on the Premises the development contemplated in the Basic Concept Documents or its alternative as approved by Landlord pursuant to subsection 7.3.7. Developer intends to conform to the construction schedule attached as Exhibit "J" entitled "Construction Schedule" but is not required to do so, except as provided in this subsection. In the event Developer has not commenced construction on the last parcel by January 1, 1993, then the fair market rental value of said parcel shall be adjusted in the manner set forth in subsection 3.2, as of January, 1993, upon the assumption that the building or buildings planned for construction upon said parcel had, in fact, been completed.
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Developer's Obligation to Develop Premises. Developer ------------------------------------------ agrees to commence the construction of improvements upon the Premises as an orderly development in conjunction with the development of the adjoining property leased from the City of Long Beach. Developer shall undertake as expeditiously and fully as is reasonably possible in the exercise of sound business judgment, the planning and construction of improvements upon Premises and to further the interest thereof to the end that there will be ultimately constructed on the Premises the development contemplated the Basic Concept Documents or its alternative as approved by Landlord pursuant to subsection 7.3.7. In the event Developer has not commenced construction on the Premises by January 1, 1995, then the fair market rental value of the Premises shall be adjusted in the manner set forth in subsection 3.2, as of January, 1995, upon the assumption its that any building or buildings or other material improvements planned for construction upon Premises had, in fact, been completed, unless the provisions of section 3.1.3 shall apply.
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Related to Developer's Obligation to Develop Premises

  • Developer’s Obligations 7.1.1 In consideration of the Rights hereby granted, the Developer shall pay to the Authority an annual fee of Rs. /- (Rupees only) (“Fee”) commencing from the 1st (first) anniversary of Appointed Date. The Fee is exclusive of GST and all other applicable taxes and shall be payable by the Developer at actual over and above the Fee. The Fee is payable to the Authority on or before 30 (thirty) days prior to the start of every year in advance as set out in Schedule 1 throughout the Agreement Period. During the Agreement Period the Fee shall be increased by 5% (five percent) every year over the previous year’s Fee on compounded basis. 7.1.2 The Developer should pay the Fee to the Authority notwithstanding the fact that, the development of Project Facilities is not completed within the specified period or Developer does not start the commercial operation of the Project. In other words, the Developer shall not be entitled to seek any reduction of Fee, claim, damages, compensation or any other consideration from the Authority on account of any reason. 7.1.3 Any delay in payment of the Fee shall attract an interest for the delayed period at the rate of SBI PLR plus 5% per annum on the outstanding amount, which shall be due from the date of such payment till the amount is realized by the Authority. In addition to the foregoing, any delay in payment of Fee beyond a period of 60 (sixty) days from the due date of such payment will be construed to be Material Breach under this Agreement.

  • LANDLORD'S RIGHT TO PERFORM TENANT'S OBLIGATIONS (a) Without limiting the rights and remedies of Landlord contained in Sections 20.2 and 20.3 above, if Tenant shall be in default in the performance of any of the terms, provisions, covenants or conditions to be performed or complied with by Tenant pursuant to this Lease, then Landlord may at Landlord’s option, without any obligation to do so, and without notice to Tenant perform any such term, provision, covenant, or condition, or make any such payment and Landlord by reason of so doing shall not be liable or responsible for any loss or damage thereby sustained by Tenant or anyone holding under or through Tenant or any of Tenant’s Agents. (b) Without limiting the rights of Landlord under Sections 20.2 and 20.3 above, Landlord shall have the right at Landlord’s option, without any obligation to do so, to perform any of Tenant’s covenants or obligations under this Lease without notice to Tenant in the case of an emergency, as determined by Landlord in its sole and absolute judgment, or if Landlord determines, in its sole and absolute judgment, that such action is necessary or desirable to avoid imminent harm to the Premises or any persons. (c) If Landlord performs any of Tenant’s obligations hereunder in accordance with this Section 20.4, the full amount of the cost and expense incurred or the payment so made or the amount of the loss so sustained shall immediately be owing by Tenant to Landlord, and Tenant shall promptly pay to Landlord upon demand, as Additional Charges, the full amount thereof with interest thereon from the date of payment by Landlord at the lower of (i) ten percent (10%) per annum, or (ii) the highest rate permitted by applicable law.

  • Landlord’s Right to Perform Tenant’s Covenants Tenant covenants and agrees that, if it shall at any time fail to make any payment or perform any other act on its part to be made or performed as in this Lease provided, then Landlord, in its sole discretion may after due notice to, or demand upon, Tenant and subject to the limitations set forth below, make any payment or perform any other act on the part of Tenant to be made and performed as in this Lease provided, in such manner and to such extent as Landlord may reasonably deem desirable, and in exercising any such rights, Landlord may pay necessary and incidental costs and expenses, employ counsel, and incur and pay reasonable attorneys’ fees. The making of any such payment or the performing of any other act by Landlord pursuant to this Article shall not waive, or release Tenant from, any obligations of Tenant in this Lease contained. All sums so paid by Landlord and all reasonably necessary and incidental costs and expenses in connection with the performance of any such act by Landlord shall, except as otherwise in this Lease expressly provided, be payable to Landlord on demand, and Tenant covenants to pay any such sum or sums promptly, and Landlord shall have (in addition to any other right or remedy of Landlord) the same rights and remedies in the event of the non-payment thereof by Tenant as in the case of default by Tenant in the payment of the Base Rent. Whenever practicable, Landlord, before proceeding as provided in this Section 12.4, shall give Tenant notice in writing of the failure of Tenant which Landlord proposes to remedy, and shall allow Tenant such length of time as may be reasonable in the circumstances, consistent with any grace periods contained herein, but not exceeding 30 days from the giving of notice, to remedy the failure itself and, if Tenant shall not remedy the failure in the time so allowed, Landlord shall be deemed to have given “due notice” and may proceed as provided in this Section 12.4; provided that nothing in this Section shall prevent Landlord from acting without notice to Tenant in case of any emergency wherein there is danger to property or person or where there may exist any violation of legal requirements including but not limited to the presence of Hazardous Materials, in which event no notice shall be required.

  • Landlord’s Obligation (a) If the Premises or the Common Area or any portion thereof (whether or not the Premises are affected) are damaged by fire or other casualty (“Casualty”) and Tenant shall be restoring the same in accordance with Section 19.3, Landlord shall make available to Tenant any insurance proceeds payable on account of such Casualty at such time and in accordance with such procedures as are provided in any Leasehold Mortgage (or if there shall be no Leasehold Mortgage, in accordance with such procedures as Landlord shall reasonably determine are customary for leasehold mortgages) and in compliance with the Ground Lease, which proceeds shall be used by Tenant only to fulfill restoration obligations hereunder and for no other purpose. (b) If all or any part of the Premises shall be rendered Untenantable by reason of a Casualty, the Base Rent and the Additional Rent shall be abated in the proportion that the Untenantable area of the Premises bears to the total area of the Premises, for the period from the date of the Casualty to the earlier of (i) the date the Premises is no longer Untenantable (provided that, if the Premises would no longer have been Untenantable at an earlier date but for Tenant having failed diligently to prosecute repairs or restoration required of Tenant under this Lease, then the Premises shall be deemed to no longer be Untenantable on such earlier date and the abatement shall cease) or (ii) the date Tenant or any subtenant reoccupies any Untenantable portion of the Premises for the ordinary conduct of business (in which case the Base Rent and the Additional Rent allocable to such reoccupied portion shall be payable by Tenant from the date of such occupancy). Pending resolution of any dispute with respect to the period or amount of such abatement, Tenant shall pay Rent in accordance with Landlord’s determination. Notwithstanding the foregoing, if by reason of any act or omission by Tenant, any subtenant or any of their respective partners, directors, officers, servants, employees, agents or contractors, Landlord or any Leasehold Mortgagee shall be unable to collect all of the insurance proceeds (including, without limitation, rent insurance proceeds) applicable to the Casualty, then, without prejudice to any other remedies which may be available against Tenant, there shall be no abatement of Rent. (c) Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage by Casualty or the repair thereof. Landlord shall not be obligated to carry insurance of any kind on Tenant’s Property or any Alterations or any other improvements made at Tenant’s sole cost and expense, and Landlord shall not be obligated to repair any damage thereto or replace the same.

  • Tenant’s Obligations Tenant’s obligations under this Section 30 shall survive the expiration or earlier termination of the Lease. During any period of time after the expiration or earlier termination of this Lease required by Tenant or Landlord to complete the removal from the Premises of any Hazardous Materials (including, without limitation, the release and termination of any licenses or permits restricting the use of the Premises and the completion of the approved Surrender Plan), Tenant shall continue to pay the full Rent in accordance with this Lease for any portion of the Premises not relet by Landlord in Landlord’s sole discretion, which Rent shall be prorated daily.