Common use of Redevelopment Clause in Contracts

Redevelopment. If Licensor successfully acquires the fee simple interest in all of the Remaining Property pursuant to the terms of the Subsequent Purchase Agreement, Licensor will succeed to HRF’s rights as the developer of the Project and, in such event, intends to redevelop the Project (the “Redevelopment”) to, among other things, (i) consolidate and resubdivide some of the existing CPR Ag Lots to create additional, reconfigured CPR Ag Lots, including a CPR Ag Lot roughly approximating the location and boundaries of the Ag Lot (the “Converted CPR Ag Lot”);