Development Parcel Clause Samples

The 'Development Parcel' clause defines a specific portion of land within a larger property that is designated for development activities. This clause typically outlines the boundaries, size, and permitted uses of the parcel, and may reference maps or legal descriptions to precisely identify the area. By clearly specifying which part of the property is subject to development, the clause helps prevent disputes over land use and ensures all parties understand the scope of development rights and obligations.
Development Parcel. “Development Parcel” shall mean that certain parcel adjacent to the Land, as depicted on Exhibit D attached hereto, which is more particularly described on Exhibit W attached hereto, which Purchaser shall lease pursuant to the Development Parcel Lease.
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Development Parcel. If ▇▇▇▇▇▇ accepts the Development Parcel pursuant to the requirements of Section 3, above, Lessee shall obtain an Exit Environmental Assessment of the Development Parcel within twelve
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Development Parcel. Tenant acknowledges and agrees that, subject to the parties reaching the agreements herein provided for, Landlord has the exclusive right to develop additional buildings and other improvements on the land depicted/described in Exhibit ___(the “Development Parcel”). If from time to time, or at anytime, Landlord should desire to undertake any such development, Landlord will provide Tenant with written notice advising Tenant of the extent of the improvements Landlord desires to install. Thereafter, Landlord and Tenant shall cooperate in good faith to reach agreement on (i) the type, nature and scope of such improvements, (ii) any reciprocal access, parking and other easements and joint use and/or operating agreements required or desired in connection with the management and operation of the Development Parcel and the Premises, (iii) Tenant’s right, if any, to lease the completed apartment buildings (if any) that may be constructed by or for Landlord on the Development Parcel, and if so the rental rate therefor, (iv) Tenant’s right, if any, to manage such apartment buildings upon completion, and/or (v) Tenant’s right, if any, to provide corporate housing activities at such apartment buildings, and/or Tenant’s right to prohibit Landlord from providing Extended Stay Services in such apartment buildings through anyone other than Tenant (which rights in this clause (v) shall, at minimum, contain Tenant’s ROFR set forth in Section 21.1 below). Landlord and Tenant will also cooperate in good faith in reaching agreement on Landlord’s access, staging, and other matters relating to the performance of the work so that Landlord will not unreasonably interfere with Tenant’s activities at the Premises or the use and enjoyment of the Premises by the occupants thereof, and on the relocation or replacement of any parking facilities, driveways, accessways and other improvements and
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Development Parcel. Notwithstanding anything herein to the contrary and so long as no Event of Default is continuing, in connection with the Development, Borrower shall have the right to (i) grant a non-exclusive access easement (the “Development Access Easement”) in favor of the Development Parcel Owner permitting owners and residents of the Development Parcel to access the Development Access Easement Area in order to access Salem Street from Mill Street, (ii) receive the benefit of the Development Parking Easement (as hereinafter defined), and (iii) comply with any other terms and conditions of the Decision that would not have a material adverse effect on the value, use or operations of the Property or are reasonably approved by Lender (collectively, the “Development Easements”), upon satisfaction of each of the following terms and conditions: (a) No later than thirty (30) days prior to the granting of the Development Easements, Borrower shall deliver to Lender the document granting the Development Easements, which shall include (x) the grant of an exclusive parking easement by the Development Parcel Owner in favor the Property, designating a specific area on the Development Parcel reasonably approved by Lender where no less than twenty-nine (29) parking spaces shall be available for the exclusive use of owners and residents of the Property (the “Development Parking Easement”), (y) a consent and subordination for execution by each mortgagee or other holder of a Lien encumbering the Development Parcel whereby such Person(s) subordinates its Lien to the Development Parking Easement, and (z) a consent and subordination for execution by Lender whereby Lender subordinates the lien of the Security Instrument to the Development Access Easement, all of which shall be in a form satisfactory to Lender and shall contain standard provisions protecting the rights of Lender; (b) Borrower shall provide all other documentation Lender reasonably requires in connection with the Development Access Easement, including, if required by Lender to ensure the Property is not materially and adversely affected by the Development Access Easement, evidence reasonably satisfactory to Lender (which may include a zoning report), and a certificate executed by an officer of Borrower certifying that the Development Access Easement and the Development Parking Easement will not (i) otherwise impair or adversely affect the liens, security interests and other rights of Lender under the Loan Documents, the rights...
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Development Parcel. If Lessee accepts the Development Parcel pursuant to the requirements of Section 3, then the annual rent for the Development Parcel shall be payable commencing on the first day of the fourth (4th) Lease Year. Annual rent for the Development Parcel shall be adjusted in accordance with the construction phasing schedule set forth in Subsection 6(b). Such adjustments are hereinafter referred to as Phase 1 Rent, Phase 2 Rent and Phase 3 Rent, and are as set forth in subparagraphs (i) through (iii) below. Annual rent for the Development Parcel shall also be subject to adjustment as provided in Subsections 4(a)(3) through 4(a)(17), below. (i) Phase 1 Rent shall commence on the first (1st) day of the fourth (4th) Lease Year and the annual rent for the entire Development Parcel shall be established by multiplying the Base SF LM Rent (as defined in Section 4(a)(8), by sixty percent (60%) of the total square footage of the Development Parcel. Such annual rent shall be subject to adjustments as provided in subparagraphs (ii), (iii) and (iv) below and Subsections 4(a)(3) through 4(a)(17), below . The Aviation Department shall send the Lessee written notice of the Base SF LM Rent at least sixty (60) days prior to the commencement of Phase 1 Rent, and such notice shall include a copy of the appraisal(s).
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Development Parcel. If Lessee accepts the Development Parcel pursuant to the requirements of Section 4(a)(2), above, then annual rental payments for the Development Parcel, as established in Subsections 4(a)(2), above, shall be adjusted in accordance with Subsection 4(a)(4) below, commencing on the first day of the fifth (5th) Lease Year and on the first day of each Lease Year thereafter (including any extensions pursuant to Subsection 3(e), below), except for the fourteenth (14th) Lease Year and the twenty- fourth (24th)
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Development Parcel shall refer to the real property located in Marion County, Florida, described on attached Exhibit B.
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Related to Development Parcel

  • Development Phase contractual phase initiated with the approval of ANP for the Development Plan and which is extended during the Production Phase while investments in ▇▇▇▇▇, equipment, and facilities for the Production of Oil and Gas according to the Best Practices of the Oil Industry are required.

  • 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.

  • Research Project The findings of any research project, which would change the provisions of this Agreement will not be implemented until such changes are negotiated and agreed to by the parties.

  • 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.

  • Development Work The Support Standards do not include development work either (i) on software not licensed from CentralSquare or (ii) development work for enhancements or features that are outside the documented functionality of the Solutions, except such work as may be specifically purchased and outlined in Exhibit 1. CentralSquare retains all Intellectual Property Rights in development work performed and Customer may request consulting and development work from CentralSquare as a separate billable service.