Common use of Initial Major Phase Clause in Contracts

Initial Major Phase. Developer submitted and the Agency Commission Approved the first Complete Major Phase Application for the Project by Resolution No. 01-2014, and Amendments to the Major Phase Application by Resolution No. 13-2016, Resolution No. 16-2018, and Resolution No. 27-2019 (collectively, “Approved Major Phase”). Developer may amend the Approved Major Phase, as necessary, for all or any portion of the real property subject to the Approved Major Phase as shown on the Phasing Plan pursuant to the process set forth in the DRDAP. Developer shall not be required to submit a new or amended Major Phase Application for development of any portion of the real property consistent with the Approved Major Phase. The Agency Commission Approved Schematic Designs for Blocks CPS 6A, 8A, and 9A and Blocks CPN 2A, 10A, and 11A, and the Agency Director Approved Design Development Documents (as defined in the DRDAP as of the Third Amendment Effective Date) for Blocks CPS 6A, 8A, and 9A. Any remaining vertical permitting requirements for the aforementioned Blocks shall be consistent with the DRDAP as amended by this Fourth Amendment, subject to the terms of the applicable Assignment and Assumption Agreement for Blocks CPS 6A, 8A, and 9A. The Agency further acknowledges that Developer has fulfilled its obligation to provide Adequate Security to the Agency for certain portions of the real property subject to the Approved Major Phase and such Adequate Security shall be reduced and released pursuant to Article 26 of the DDA.