Additional Construction Covenants Sample Clauses
Additional Construction Covenants. In the event the Manager elects to cause the Company to fund any permitted construction with respect to Acquired REO Property, then the Manager shall cause each applicable Ownership Entity to pursue with diligence the construction of the Acquired REO Property owned by such Ownership Entity (i) in accordance with the construction, construction management (if any) and all other material contracts relating to such construction, and all requirements of Law, all restrictions, covenants and easements affecting such Acquired REO Property, and all applicable governmental approvals, (ii) in the case of any Substantially Complete Vertical Development, in substantial compliance with the plans and specifications therefor as in existence on the Closing Date and as thereafter modified by the Manager in its business judgment exercised in accordance with the Servicing Standard and applicable provisions in this Agreement and the other Transaction Documents, and, in the case of any Permitted Horizontal Development, in accordance with the applicable approved Asset Development Plan, (iii) in a good and workmanlike manner and free of defects, (iv) in a manner such that such Acquired REO Property remains free from any Liens, claims or assessments (actual or contingent) for any material, labor or other item furnished in connection therewith and (v) in conformance with the all other applicable requirements set forth herein and in the other Transaction Documents.
Additional Construction Covenants. In the event the Manager elects to fund the construction of the REO Property (pursuant to Funding Draws for such purpose), then the Manager shall cause each Ownership Entity to pursue with diligence the construction of the REO Property owned by such Ownership Entity (i) in accordance with the construction, construction management (if any) and all other material contracts relating to such construction, and all requirements of Law, all restrictions, covenants and easements affecting such REO Property, and all applicable governmental approvals, (ii) in substantial compliance with the plans and specifications therefor as in existence on the Closing Date and as thereafter modified by the Manager in its business judgment exercised in accordance with the Servicing Standard and applicable provisions in this Agreement and the Transaction Documents, (iii) in a good and workmanlike manner and free of defects, (iv) in a manner such that such REO Property remains free from any Liens, claims or assessments (actual or contingent) for any material, labor or other item furnished in connection therewith and (v) in conformance with the requirements for Funding Draws.
Additional Construction Covenants. In the event any Debtor elects to fund the construction of the REO Property, then such Debtor shall pursue with diligence the construction of the REO Property owned by such Debtor (i) in accordance with the construction, construction management (if any) and all other material contracts relating to such construction, and all requirements of Law, all restrictions, covenants and easements affecting such REO Property, and all applicable governmental approvals, (ii) in substantial compliance with the plans and specifications therefor as in existence on the Closing Date and as thereafter modified by such Debtor in its reasonable business judgment exercised in accordance with the Servicing Obligations and applicable provisions in this Agreement and any PA Financing Transaction Document, (iii) in a good and workmanlike manner and free of defects, and (iv) in a manner such that such REO Property remains free from any Liens, claims or assessments (actual or contingent) for any material, labor or other item furnished in connection therewith.
Additional Construction Covenants. During the Construction Period for any Project, each applicable Lessee shall: (a) provide CSG upon written request (i) such information (including without limitation, copies of all invoices and payment receipts which exceed $100,000 relating to the acquisition, construction and development of such Project, the Change Order log relating to such Project and related Project detail reports) and (ii) access to such Project and the individuals employed by such Lessee, the Architect and the Prime Contractor as CSG may reasonably request in order to permit CSG to monitor the construction of the Project; (b) promptly provide the Administrative Agent and CSG, upon written request, with copies of all changes to the Plans and Specifications, Facility Cost Analysis, Construction Documents, Architect's Agreement, Prime Construction Contract and Primary Construction Contracts for such Project, and with an advance draft copy of any proposed change to any of the foregoing that involves more than $1,000,000, (c) assist and cooperate with CSG in all respects reasonably requested by CSG in order to permit CSG to provide such periodic construction progress reports to the Administrative Agent as may be reasonably requested by the
Additional Construction Covenants. Borrower covenants and agrees that, so long as the Obligations or any part thereof are outstanding or any Lender has any outstanding Commitment hereunder, Borrower will, and will cause each Subsidiary to, perform and observe the following covenants:
Section 7.1 [Reserved]
Additional Construction Covenants. 56 5.21. Compliance with Laws..................................................................... 56 5.22. Fiscal Year.............................................................................. 56 5.23. May 10, 1996 Lease Documents............................................................. 56 5.24. Year 2000................................................................................ 57