Phase II of the Project definition
Phase II of the Project means the development of the next successive 200 MW of energy capacity and accompanying data center(s) associated with the Project, following Phase I of the Project (i.e., 100 MW – 300 MW of the Project) .
Phase II of the Project means activities under the Project scheduled for implementation during the period of approximately 2009-2013, set forth in the Attachment to the Appendix, as said Attachment may be revised from time to time with the mutual agreement of the Recipient and the Association.
Phase II of the Project has the meaning given such term in the Recitals. “Phase III of the Project” has the meaning given such term in the Recitals.
Examples of Phase II of the Project in a sentence
The City’s obligation to make payments under Sections 8.3.1, 8.3.2 and 8.3.3. shall terminate on December 31 of the year that is: (i) fifteen (15) years from January 31, 2028 with respect to Phase I of the Project and (ii) fifteen (15) years from January 31, 2030 with respect to Phase II of the Project.
Each of the Parties hereto shall be responsible for and bear all of their respective individual costs and expenses incurred in connection with the negotiation of the terms and conditions of this Agreement, the carrying out of Phase II of the Project, and any dispute arising on account of this Agreement.
More Definitions of Phase II of the Project
Phase II of the Project. Not later than three (3) years following the Commencement Date, Tenant at Tenant’s sole cost and expense, shall complete Phase II of the Project. Tenant shall have the right in Tenant’s discretion to engage any one or more third party developers, retail tenants, contractors, retail consultants, a master retail developer or tenant or other qualified person or corporation to develop, construct and operate all or any portion of Phase II of the Project. In the event Tenant fails to timely perform its obligations with respect to Phase II of the Project, Tenant shall pay to Landlord additional payment or payments in the amounts set forth below on January 2 of each year (or prorated if less than a year), commencing on the January 2 immediately following the expiration of 3 years until such time as Tenant has met its obligations with respect to Phase II or paid a total of $20,000,000 to the Landlord to be used for the benefit of the ▇▇▇▇▇ area, which sums will be collected by Landlord as liquidated damages and not as a penalty and in such event, the Landlord shall not have any other rights or remedies against Tenant with respect to Tenant’s failure to open and operate the Phase II of the Project; provided, however, that if this Lease shall be terminated by Tenant pursuant to the provisions of Section 24 after any such annual payments have been paid or have become due and payable, then Landlord’s recovery of amounts due for failure to open and operate Phase II of the Project, in addition to any payments due under Section 24, shall be limited, effective as of the date this Lease is terminated, to the greater of $12,000,000 or the total amount theretofore paid or due Landlord pursuant to this subsection (i). year one $ 2,000,000 year two $ 3,000,000 year three $ 4,000,000 year four $ 5,000,000 year five $ 6,000,000 ”
Phase II of the Project means the development of the Site for a possible recreation complex or other mixed-uses.
Phase II of the Project means (i) the development and construction of a hotel with a minimum of 100 rooms and (ii) some combination of additional hotel rooms, an entertainment/meeting space, additional casino space, additional restaurants, retail space, movie theatres, bowling lanes, or other amenities and additional parking spaces sufficient to serve the aforesaid facilities, as mutually agreed to by Tenant and Landlord, which are intended to increase revenues to the Property. The Tenant shall make an investment of not less than $75,000,000 on Phase II of the Project. The Landlord and the Tenant anticipate that Phase II of the Project may comprise approximately 280,000 square feet but the aggregate square footage will depend on the components selected. Phase I of the Project and Phase II of the Project are collectively referred to as the “Project.” A new Exhibit C to the Agreement is substituted entitled “Essential Elements”, which is attached hereto as Exhibit 1.
Phase II of the Project means the development and construction on the Property of: (i) a hotel with a minimum of 200 rooms with lobby; (ii) a meeting room/event space of not less than 10,000 square feet that is adjacent to the hotel with a capacity of at least 500 guests with sit-down tables or 750 guests in the absence of tables; and (ii) a parking garage with a minimum of 1600 spaces. Tenant intends to make a total investment of not less than $78,000,000 on Phase II of the Project. Phase I and Phase II of the Project are collectively called the “Project”.” A new Exhibit C to the Lease and Development Agreement is substituted entitled “Essential Elements”, which is attached to hereto as Exhibit 1.
Phase II of the Project means the development of the Site and other parcels owned and/or leased by Developer and located in the City of Berea for a possible recreation complex or other mixed-uses.