Acquisition and Construction of Project Sample Clauses

Acquisition and Construction of Project. As provided in Section 3.02 of the Indenture, a portion of the proceeds of sale of the Bonds will be applied to pay the Site Lease Payment to the City in accordance with Section 3 of the Site Lease. The Site Lease Payment shall be deposited into the Project Fund, which is established under the Indenture, to be disbursed for the purpose of paying Project Costs. Upon the completion of the Project, the City shall file a Written Certificate of the City with the Trustee, which Written Certificate shall identify the amount (if any) to be retained in the Project Fund to pay remaining Project Costs.

Acquisition and Construction of Project. The Company agrees to acquire the Project Site and the Company shall be responsible for the construction, equipping and operation of the Project as an approximately 880,254 square foot omni channel distribution and fulfillment center, containing approximately 60,000 square feet of office space, and including land, buildings, structures, improvements and fixtures, all generally located on approximately 65 acres southeast of the intersection of State Avenue and Speedway Boulevard, as generally set forth on Exhibit C hereto, at an estimated total cost to the Company of $403,000,000. Any material modifications to the construction or operation of the Project, including decreasing the size of the facility to less than 704,000 square feet or affecting the general use of the Project as described herein, shall require the prior written consent of the governing body of the Issuer, and the Issuer reserves the right to declare an Event of Default pursuant to Section 5.1 hereof if such modifications are made by the Company without such prior written consent. The Company will not be deemed to be in default of this Agreement if the actual costs of the Project deviate from the figures listed above. Company and Issuer acknowledge that, before the Project Site may be acquired by Company, the Issuer must approve a subdivision to create the Project Site as a legally separate parcel that may be conveyed by Kansas International Speedway Corporation (“Seller”) to Company (the “Subdivision Approval”). If the ordinance approving the Subdivision Approval is not adopted by Issuer not later than December 22, 2020 (the “Outside Approval Date”), Company shall have the right to terminate this Agreement by written notice to Issuer given to Issuer after the Outside Approval Date.

Acquisition and Construction of Project. The Company has conveyed the Premises to the Issuer and the Company, as agent of the Issuer, hereby agrees to acquire, construct, rehabilitate and equip the Project in accordance with this Article III, substantially in accordance with the plans and specifications therefor prepared by it including any and all supplements, amendments and additions (or deletions) thereto (or therefrom); provided, however, that such other facilities and property contemplated by such supplements, amendments, additions or deletions to the plans and specifications shall not materially impair the effective use or character of the Project as contemplated by this Agreement or disqualify the Project as a "Project" within the meaning of the Act or result in the interest on any Bonds becoming includable in the gross income of the owners of the Bonds for Federal income tax purposes. In the event that Exhibit A or Exhibit B hereto is to be amended or supplemented in accordance with the provisions of Section 9.01 of the Indenture, the Issuer will enter into, and will instruct the Trustee to consent to, an amendment of or supplement to Exhibit A or Exhibit B hereto upon receipt of:

Acquisition and Construction of Project