Acquisition and Construction of the Project. The Company agrees to cause the Project to be acquired, constructed and installed on the Site substantially in accordance with the Plans and Specifications. The Company agrees to pay all Project Costs which are not or cannot be paid or reimbursed from the proceeds of the Bonds. Anything in this Agreement to the contrary notwithstanding, the Company shall not be obligated to complete the acquisition, construction and installation of the Project or any part thereof upon (i) acceleration of the payment of all amounts to be paid by the Company pursuant to the provisions of Article VII hereof and (ii) the making of any such payment in the amount required by, and in accordance with the terms of, this Agreement.
Acquisition and Construction of the Project. SECTION 2.1. Acquisition and Construction of the Project -8- SECTION 2.2. Completion -8- ARTICLE III SALE OF THE BONDS; LOAN; DISPOSITION OF LOAN PROCEEDS SECTION 3.1. Issuance of the Bonds -9-
Acquisition and Construction of the Project. The Local Agency agrees that (i) it has caused or will cause the Project to be designed, acquired and/or constructed with all reasonable dispatch, as agent for the Corporation, in accordance with the plans, specifications, bidding documents, and construction and other contracts approved by the Local Agency, and in accordance with applicable laws and regulations; and (ii) it will pay or cause to be paid the Project Costs from funds available to it pursuant to this Local Agency Financing Lease and the Master Financing Lease. The Local Agency shall file requisitions with the State Treasurer for the Project Costs of its Project or reimbursement therefor in such form as the State Treasurer shall reasonably require. Neither the Corporation nor the State shall have any responsibility, liability or obligation with respect to the design, acquisition and/or construction of the Project.
Acquisition and Construction of the Project. SECTION 2.1. Acquisition and Construction of the Project -8- SECTION 2.2. Completion -8-
Acquisition and Construction of the Project. ISSUANCE OF THE BONDS
Acquisition and Construction of the Project. ISSUANCE OF THE BONDS 6 Section 3.01 Agreement to Acquire, Construct, Improve and Equip the Project. 6
Acquisition and Construction of the Project. 7 Section 3.1 Use of Bond Proceeds 7 Section 3.2 Additional Obligations and Parity Obligations 7 Section 3.3 Further Assurances and Corrective Instruments 7
Acquisition and Construction of the Project. The Purchaser hereby agrees to cause the Project to be constructed, acquired and installed by the District as its agent. The District shall enter into contracts and provide for, as agent for the Purchaser, the complete construction, acquisition and installation of the Project. The District hereby agrees that it will cause the construction, acquisition and installation of the Project to be diligently performed after the deposit of funds set forth in Section 4.1 below, and that it will use its best efforts to cause the construction, acquisition and installation of the Project to be completed. It is hereby expressly understood and agreed that the Purchaser shall be under no liability of any kind or character whatsoever for the payment of any cost of the Project and that all such costs and expenses shall be paid by the District.
Acquisition and Construction of the Project. (a) The Lessor shall acquire the Site and shall construct or cause to be acquired, constructed and installed the Facilities on the Site and shall acquire or cause to be acquired the Equipment in accordance with the applicable Project Documents. For this purpose, the Lessor has entered into the Agency Agreement with the Lessee, as the Lessor’s agent. A Construction Contract for the construction of the Facilities shall be awarded to a contractor licensed under the laws of the State of Georgia. All Construction Contracts shall be awarded after following the procedures required by the applicable laws of the State of Georgia relating to the awarding of contracts of a similar nature by the Lessee, including but not limited to the applicable provisions of the Georgia Local Government Public Works Construction Law, O.C.G.A. §§ 36-91-1 through 00-00-000, as amended. The Lessor or its agent for this purpose shall require any contractor or contractors who are awarded a Construction Contract to provide a faithful performance bond and a separate labor and material payment bond, as appropriate. The proceeds from any such bond shall be transferred to the Trustee for deposit as provided in Section 5.05(g) hereof. Such bonds shall be made payable to the Trustee, shall be executed by a corporate surety licensed to transact business in the State of Georgia and acceptable to the Lessee and shall be in an amount equal to the contract price for such contractor’s Construction Contract. If, at any time during the construction of the Facilities, the surety on such bond shall be disqualified from doing business within the State of Georgia, or shall otherwise become incapable of performing its obligations under such bond, an alternate surety acceptable to the Lessee and the Trustee shall be selected. In the event of any change order in accordance with Section 5.04 hereof, the amounts of such bonds pertaining thereto shall be increased to include the cost of any additional work or materials or fixtures to be incorporated in the Facilities.
Acquisition and Construction of the Project. The Agency hereby agrees with due diligence to supervise and provide for, or cause to be supervised and provided, for the Acquisition and Construction of the Project in accordance with Plans and Specifications, purchase orders, construction contracts and other documents relating thereto and approved by the City pursuant to all applicable requirements of law. Direct payment of the Project Costs shall be made from amounts on deposit in the Project Fund, pursuant to Section 3.03 of the Indenture. All contracts for, and all work relating to, the Acquisition and Construction of the Project shall be subject to all applicable provisions of law relating to the acquisition and con- struction of public works by the City. The Agency expects that the Acquisition and Construc- tion of the Project will be completed on or before August 1, 2024; provided, however, that the failure to complete the Project by the estimated Completion Date thereof shall not constitute an Event of Default hereunder or a grounds for termination hereof, nor shall such failure result in the diminution, abatement or extinguishment of the obligations of the City hereunder to pay the Lease Payments allocable to such Project. The City shall have the right from time to time in its sole discretion to amend the de- scription of the Project to be financed and leased by the Agency hereunder. Upon the completion of the Acquisition and Construction of the Project, the amounts, if any, on deposit in the Project Fund shall be transferred by the City to the Trustee for deposit in the Bond Fund and the City shall close the Project Fund.
