Reimbursement to Developer Clause Samples

The 'Reimbursement to Developer' clause establishes the developer's right to be repaid for certain costs or expenses incurred during the course of a project. Typically, this clause outlines which types of expenses are eligible for reimbursement, such as materials, labor, or third-party services, and may specify the process for submitting and approving reimbursement requests. Its core function is to ensure that the developer is not financially disadvantaged for out-of-pocket expenditures made on behalf of the project, thereby allocating financial responsibility and reducing disputes over project-related costs.
Reimbursement to Developer a. Developer may seek reimbursement for the oversize portion of infrastructure and disproportionate right-of-way acquired and/or granted and a pro rata portion of the cost of off-site Improvements required under this Agreement; provided, that the Developer’s right to reimbursement under this Section shall be limited to a period of five years following Acceptance of any reimbursable Improvements. b. At the time of final approval of a subdivision plat or other development plan for properties that use these Improvements, the Town shall require, as a condition of approval, a proportional reimbursement to Developer based upon values given by Developer. Nothing contained in this Agreement shall (i) operate to create an obligation on the part of the Town to pay or reimburse any costs to Developer in the event such costs are not recovered by the Town as contemplated herein, for any reason, from the properties or property owners that use the Improvements; or (ii) require the Town to disapprove any project where there is a disagreement as to the reimbursement value between the Developer and the new development. The Town, as a condition of approval of the new development, shall require the developer of the new development to engage in good faith negotiations with the Developer. While the actual costs of the improvements described in this Section is unknown at this time, any reimbursement requested by ▇▇▇▇▇▇▇▇▇ will be based on actual costs incurred for engineering, planning, and all other development consulting services related to the specific offsite improvements as well as the actual hard construction costs incurred in building such offsite improvements. Developer may request a reimbursement based on a pro-rata allocation of such costs between Developer and any developments that are either adjacent to the Development, in proximity to the Development, or otherwise benefit from the Development. c. In calculating the reimbursement, the Developer shall consider all factors reasonable to the analysis, including, without limitation, proportional linear footage, projected traffic generation, and/or utility usage. The specific improvements eligible for reimbursement shall include: (i) the right-of-way dedication for ▇▇▇▇ Road and any improvements to ▇▇▇▇ Road, including, without limitation, widening the travel lanes and shoulders, constructing a decel lane, constructing a walking/bike path and additional landscaping in such right-of-way (collectively, “Roadway improvements...
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Reimbursement to Developer. Second, to -------------------------- reimburse Developer, its successors or transferees, a sum up to the amount equal to the sum of (i) the costs incurred for the development of the Project, prorated to the Premises, if the Premises are less than all of the Project, on a square foot basis, and for the improvements existing on the Premises at the time of the re-entry and repossession by Developer, less (ii) any gains or income withdrawn or made by Developer from the Premises or the improvements thereon; provided however, that no payment shall be made to Developer if this Lease is terminated as a result of an uncured default by Developer. 105
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Reimbursement to Developer. Per the provisions of the Sanitary Sewer Cost Share Agreement-Part A, paragraph 5, the Developer is entitled to reimbursement of a portion of the Developer’s contribution above based on the formula set forth therein. Utilizing that formula, the Maximum Reimbursement Amount payable to the Developer shall be $622,500 calculated as follows: a) Developer’s Share of the Pump Station Cost = $750,000 (total cost of Pump Station) x .17 (estimated percentage of capacity used by development) =$127,500 b) Maximum Reimbursement Amount=$750,000 (Developer Contribution) minus $127,500 (Developer’s Share of Pump Station Cost) =$622,500.
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Reimbursement to Developer. The VILLAGE shall collect the RECAPTURE AMOUNTS, plus any interest that has accrued thereon upon, from the owners and/or DEVELOPERs of the BENEFITING PROPERTIES as follows: a. Water and Sewer RECAPTURE AMOUNTS: upon actual physical connection to the IMPROVEMENTS by a BENEFITING PROPERTY; b. Utility line burial RECAPTURE AMOUNTS: upon recording of a final plat of subdivision approval for a BENEFITING PROPERTY by the VILLAGE; The VILLAGE shall within seven (7) business days of receiving such recaptures immediately deliver to DEVELOPER all RECAPTURE AMOUNTS (and any interest accrued thereon) collected as provided herein.
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Reimbursement to Developer. The City shall not be obligated to reimburse the Developer, and may hold back any reimbursement due the Developer, if any of the following conditions are not met: i. Final Subdivision & Completion and Conveyance of Public Parking Facility. The final Plat of Subdivision/Condominium has been finalized and recorded and the Public Parking Facility has been completed and deeded back to the City as required by Sections 1.09 and 1.10;
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Reimbursement to Developer 
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Related to Reimbursement to Developer

  • REIMBURSEMENT TO THE ADVISOR The Company shall not reimburse the Advisor for Total Operating Expenses to the extent that Total Operating Expenses (including the Asset Management Fee), in the four consecutive fiscal quarters then ended (the “Expense Year”) exceed (the “Excess Amount”) the greater of 2% of Average Invested Assets or 25% of Net Income for that period of four consecutive fiscal quarters. Any Excess Amount paid to the Advisor during a fiscal quarter shall be repaid to the Company. Reimbursement of all or any portion of the Total Operating Expenses that exceed the limitation set forth in the preceding sentence may, at the option of the Advisor, be deferred without interest and may be reimbursed in any subsequent Expense Year where such limitation would permit such reimbursement if the Total Operating Expense were incurred during such period. Notwithstanding the foregoing, if there is an Excess Amount in any Expense Year and the Independent Directors determine that all or a portion of such excess was justified, based on unusual and nonrecurring factors which they deem sufficient, the Excess Amount may be reimbursed to the Advisor. If the Independent Directors determine such excess was justified, then, after the end of any fiscal quarter of the Company for which there is an Excess Amount for the 12 months then ended paid to the Advisor, the Advisor, at the direction of the Independent Directors, shall cause such fact to be disclosed in the next quarterly report of the Company or in a separate writing and sent to the Stockholders within 60 days of such quarter end, together with an explanation of the factors the Independent Directors considered in determining that such Excess Amount was justified. Such determination shall be reflected in the minutes of the meetings of the Board. The Company will not reimburse the Advisor or its Affiliates for services for which the Advisor or its Affiliates are entitled to compensation in the form of a separate fee. All figures used in any computation pursuant to this Section 3.04 shall be determined in accordance with generally accepted accounting principles applied on a consistent basis.

  • Education Reimbursement The County will provide education reimbursement for education costs incurred by regular employees who apply for such reimbursement in accordance with the policies and procedures governing the education reimbursement program. The maximum reimbursement shall be $1,500 per year.

  • Reimbursement In the event of any drawing under any Letter of Credit, the Issuing Lender will promptly notify the Company and the Administrative Agent. The Borrowers shall reimburse the Issuing Lender on the day of drawing under any Letter of Credit if notified prior to 3:00 P.M. on a Business Day or, if after 3:00 P.M., on the following Business Day (either with the proceeds of a Revolving Loan obtained hereunder or otherwise) in same day funds as provided herein or in the LOC Documents. If the Borrowers shall fail to reimburse the Issuing Lender as provided herein, the unreimbursed amount of such drawing shall automatically bear interest at a per annum rate equal to the Default Rate. Unless the Company shall immediately notify the Issuing Lender and the Administrative Agent of its intent to otherwise reimburse the Issuing Lender, the Borrowers shall be deemed to have requested a Mandatory LOC Borrowing in the amount of the drawing as provided in subsection (e) hereof, the proceeds of which will be used to satisfy the Reimbursement Obligations. The Borrowers’ Reimbursement Obligations hereunder shall be absolute and unconditional under all circumstances irrespective of any rights of set-off, counterclaim or defense to payment the Borrowers may claim or have against the Issuing Lender, the Administrative Agent, the Lenders, the beneficiary of the Letter of Credit drawn upon or any other Person, including, without limitation, any defense based on any failure of the Borrowers to receive consideration or the legality, validity, regularity or unenforceability of the Letter of Credit. The Administrative Agent will promptly notify the other Revolving Lenders of the amount of any unreimbursed drawing and each Revolving Lender shall promptly pay to the Administrative Agent for the account of the Issuing Lender, in Dollars and in immediately available funds, the amount of such Revolving Lender’s Revolving Commitment Percentage of such unreimbursed drawing. Such payment shall be made on the Business Day such notice is received by such Revolving Lender from the Administrative Agent if such notice is received at or before 2:00 P.M., otherwise such payment shall be made at or before 12:00 P.M. on the Business Day next succeeding the Business Day such notice is received. If such Revolving Lender does not pay such amount to the Administrative Agent for the account of the Issuing Lender in full upon such request, such Revolving Lender shall, on demand, pay to the Administrative Agent for the account of the Issuing Lender interest on the unpaid amount during the period from the date of such drawing until such Revolving Lender pays such amount to the Administrative Agent for the account of the Issuing Lender in full at a rate per annum equal to, if paid within two (2) Business Days of the date of drawing, the Federal Funds Effective Rate and thereafter at a rate equal to the Alternate Base Rate. Each Revolving Lender’s obligation to make such payment to the Issuing Lender, and the right of the Issuing Lender to receive the same, shall be absolute and unconditional, shall not be affected by any circumstance whatsoever and without regard to the termination of this Agreement or the Commitments hereunder, the existence of a Default or Event of Default or the acceleration of the Obligations hereunder and shall be made without any offset, abatement, withholding or reduction whatsoever.

  • Reimbursement of Travel Expenses If the Servicer provides access to the Review Materials at one of its properties, the Issuer will reimburse the Asset Representations Reviewer for its reasonable travel expenses incurred in connection with the Review on receipt of a detailed invoice.

  • Reimbursement of General Partner (a) Except as provided in this Section 6.5 and elsewhere in this Agreement (including the provisions of Articles 5 and 6 regarding distributions, payments, and allocations to which it may be entitled), the General Partner shall not be compensated for its services as general partner of the Partnership. (b) The General Partner shall be reimbursed on a monthly basis, or such other basis as the General Partner may determine in its sole and absolute discretion, for all Administrative Expenses incurred by the General Partner.