PERPETUITIES

In 1998, grantor granted an easement for access, ingress, egress, parking, utilities and drainage to a grantee who owned undeveloped property adjoining that of the grantor.  The grant contains this section:

Condition.  The easements and rights herein granted and the obligations imposed shall be strictly conditioned upon the last to occur of the Developer [defined as XYZ, Ltd., an Alabama limited partnership] becoming the owner of Parcel B [the grantee's estate] and the commencement of the Project [defined as an apartment complex which the Developer "may construct"].

XYZ, Ltd. was not in existence at the time of the grant and has never been formed.  The grantee of the easement still owns Parcel B.  Title to the "servient estate" has transferred two or three times.  There is no time limitation in the grant.

Can an easement arise in favor of a non-existent entity and be conditioned upon its acquisition of the purported dominant estate?

Interesting.  It's almost like a springing executory interest.  Since there's no time period I'd argue that it violates the Rule Against Perpetuities.