Architect’s Contract. The contract(s) between the Borrower and the Borrower's Architect, providing for the design of the Improvements and the supervision of the construction thereof.
Architect’s Contract. As of the date hereof, (i) the Architect’s Contract is in full force and effect; (ii) both Borrower and, to the best of Borrower’s knowledge, Borrower’s Architect are in compliance in all material respects with their respective obligations under the Architect’s Contract; (iii) the work to be performed by Borrower’s Architect under the Architect’s Contract is the architectural services required to design the Project Improvements to be built in accordance with the Plans and Specifications and all architectural services required to complete the Project Improvements in accordance with the Plans and Specifications is provided for under the Architect’s Contract; and (iv) all work on the Project Improvements heretofore completed has been completed in accordance with the Plans and Specifications in a good and workmanlike manner and is free of any defects. Upon request by Lender, Borrower shall or Borrower shall cause Borrower’s Architect to provide Lender with reports in regard to the status of construction of the Project Improvements, in such form and detail as reasonably requested by Lender.
Architect’s Contract. Borrower shall enforce the Architect’s Contract in the best interests of Borrower consistent with the construction of the Project Improvements using sound business judgment, (b) waive none of the material obligations of Borrower’s Architect thereunder, (c) do no act which would relieve Borrower’s Architect from its material obligations under the Architect’s Contract and (d) make no amendments to the Architect’s Contract without the prior approval of Lender. Upon request by Lender, Borrower shall cause Borrower’s Architect to provide Lender with reports in regard to the status of construction of the Project Improvements, in such form and detail as reasonably requested by Lender.
Architect’s Contract. Borrower shall have furnished Lender with a copy of the Architect’s Contract for architectural services necessary to construct the Project, in form and substance reasonably acceptable to Lender.
Architect’s Contract. Borrowers shall (i) enforce the Architect’s Contract, (ii) waive none of the material obligations of the Architect thereunder, (iii) do no act which would relieve the Architect from its material obligations under the Architect’s Contract, and (iv) make no material amendment to or Change Order under the Architect’s Contract, except as permitted under Section 3.15 hereof, without the prior approval of Lender in its reasonable discretion.
Architect’s Contract. As to each applicable Project, the contract dated -------------------- after the Original Closing Date between the Borrower and each of the Borrower's Architects.
Architect’s Contract. The Architect's Contract is in full force and effect and both the Borrower and the Borrower's Architect are in full Compliance with their respective obligations under the Architect's Contract.
Architect’s Contract. The representations and warranties set forth in the corresponding Section of the Building Loan Agreement are incorporated herein by reference as if fully set forth herein.
Architect’s Contract. Until all work thereunder has been performed, the Architect’s Contract shall remain in full force and effect, shall not have been modified without Lender’s prior written consent (other than in connection with Immaterial Service Requests), which consent shall not be unreasonably withheld, conditioned or delayed, and no material default or event of default shall exist thereunder by Borrower. During the continuance of an event of default by Architect under the Architect’s Contract (following any required notice to Architect and the expiration of any applicable cure period), Lender shall be entitled to withhold the portion of a Disbursement to Borrower which would be otherwise payable to the Architect absent such event of default.
Architect’s Contract. Borrower has received and approved a copy of the contract by and between the Applicable Underlying Borrower and the Architect, which contract includes the services of an engineer retained by the Architect in connection with and as part of Architect's work under such contract, which shall be in form and content acceptable to Borrower and Lender and which provides that the Architect shall submit to Borrower all certificates, as-built plans, specifications, and other information as a prerequisite to Borrower's advances of Applicable Underlying Loan proceeds, including the final advance thereof. Among other provisions, said Architect's contract shall prohibit the Applicable Underlying Borrower from agreeing to or permitting any material amendment, modification, waiver, or other material change to or of any of the foregoing without the prior written consent of Borrower. Borrower shall also have received from the Applicable Underlying Borrower a written certificate from the Architect covering such matters as may be required by Borrower or Lender and stating that the proposed Financed Improvements, when completed in accordance with the Plans, will comply with all Applicable Laws, together with an agreement by the Architect, in form and content acceptable to Borrower and Lender, that upon the occurrence of an event of default under the Applicable Underlying Loan Documents, the Architect will, at Borrower's request: (A) assign to Borrower all of the Architect's right, title, and interest in any engineering contract in respect of the Financed Improvements; (B) continue performance pursuant to its agreement with the Applicable Underlying Borrower until the completion of construction of the Financed Improvements, provided that Borrower shall compensate the Architect from the date of Borrower's assumption of such agreement in accordance with said agreement for all such services rendered; and (C) permit Borrower to use the Plans and any materials obtained by the Architect from any engineer retained by the Architect at no cost to Borrower. All costs of the Architect shall be paid by the Applicable Underlying Borrower or Borrower.
