Commencement and Completion of Improvements. The Tenant shall commence construction of the Improvements within six (6) months from the Effective Date of this Ground Lease. The Tenant shall proceed with due diligence to construct and build the Improvements, without any cost, expenses, charge, liability, or obligation to be borne by the District and shall complete the Improvements. Tenant shall expend on the Improvements an amount equal to the estimated costs set forth in Exhibit "2", however, Tenant and District acknowledge that such costs are preliminary estimates and actual expenditures may vary by as much as ten (10%) percent or more. All Improvements shall be completed within twenty-four (24) months from commencement of construction or as specified in Exhibit "2", except for delays caused not by the actions of Tenant; but primarily by strike, lock-outs, labor disputes, wars, insurrections, riots, fires, weather interference, acts of God, inability to obtain construction materials, governmental regulations or interference, rationing, or other restrictions or conditions or causes unavoidable or reasonably beyond the control of the Tenant.
Commencement and Completion of Improvements. The Borrower shall commence construction of the Improvements within thirty (30) days following the closing of the Loan (the “Commencement Date”), and shall diligently and continuously proceed with the completion of all of the site work and the construction of all Improvements, all of which shall be completed no later than the sooner of the date that the Improvements must be delivered to Skechers pursuant to the lease or twenty (20) months from the Closing Date.
Commencement and Completion of Improvements. When all Permits for construction of the Improvements have been obtained and Landlord and the General Contractor have entered into a construction contract in accordance with Section 4.1, Landlord shall cause the General Contractor to commence and to diligently prosecute the construction of the Improvements in accordance with the Permits and the Construction Documents, so that the Improvements will be Substantially Completed on or before the Scheduled Completion Date.
Commencement and Completion of Improvements. As soon as (i) the Approved Plans have been developed as provided above, and (ii) all necessary Permits for commencement of construction of the Tenant Improvements have been obtained, Landlord shall cause its Contractor(s) to commence and to thereafter diligently prosecute to completion the construction of the Tenant Improvements in accordance with the Approved Plans by the Scheduled Completion Dates therefor contained in the Construction Schedule; provided, however, Landlord shall not be liable for delay in the Substantial Completion Date for the Building to the extent reasonably attributable to a Force Majeure Delay, except as specifically provided in this Lease.
Commencement and Completion of Improvements. Upon commencement of improvements pursuant to an approved Development Plan as provided above, Xxxxxx shall diligently pursue the completion of such improvements in accordance therewith and in accordance with all applicable laws, rules, regulations and ordinances. Notwithstanding anything contained herein to the contrary, Xxxxxx shall not construct any improvements from October 31 through January 31 which would interfere with the use of Tract 1 by Wal-Mart and Wal-Mart’s customers, which shall be deemed to include, without limitation, any activities which would obstruct, affect or limit ingress and egress to, from or through Tract 1 or to the store located thereon, or any activities which would obstruct, affect or limit visibility of the store on Tract 1 or any signage or advertising for such store.
Commencement and Completion of Improvements. When all Permits have ------------------------------------------- been obtained, Landlord shall cause its Contractor(s) to commence and to thereafter diligently prosecute the construction of the Landlord's Work so that the Landlord's Work will be Substantially Completed on or before the Scheduled Completion Date.
Commencement and Completion of Improvements. (a) Borrower shall commence construction on or before November 17, 2008, and, thereafter, diligently continue construction to completion.
Commencement and Completion of Improvements. Vertical Developer shall use commercially reasonable efforts to promptly Commence Construction and Complete Construction of the Improvements as set forth in the Schedule of Performance, but in no event shall Vertical Developer Commence Construction or Complete Construction later than the respective Outside Dates therefor (subject to Excusable Delay). If Vertical Developer determines that it will not be able to meet an Outside Date due to market conditions, Vertical Developer may request up to two (2) six-month extensions to an Outside Date. Any such request shall be made, if at all, not later than the date that is thirty (30) days before the applicable Outside Date, and shall be subject to the approval of the Agency Director, in his or her reasonable discretion.
Commencement and Completion of Improvements. The Borrower (i) will cause the construction of the Improvements to be prosecuted with diligence and continuity in accordance with the Plans and the Construction Completion Schedule, (ii) will promptly correct or cause to be corrected any defect in the Improvements, any material departure in the construction of the Improvements from the Plans, governmental requirements, or any encroachment by any part of the Improvements or any other structure located on the Property on any building line, easement, property line, or restricted area, (iii) will guarantee to the Bank that the Improvements will be completed in good and workmanlike manner in accordance with the Plans, (iv) will promptly notify the Bank of any Lien filed by the Contractor, any subcontractor, supplier or laborer or of the Borrower's knowledge that the Contractor or any sub-contractor, has failed to pay amounts due following the funding of any Advance for the payment of same, and (v) will complete the construction of the Improvements in accordance with the Plans on or before the eighteenth-month following the Closing Date, provided that such date may be extended to the extent necessary to complete the Improvements (but in no event later than twenty one months after the Closing Date) if the completion of the Improvements cannot be accomplished by the eighteen-month anniversary of the Closing Date as a result of factors beyond the reasonable control of the Borrower. Notwithstanding anything to the contrary in this Agreement, the Improvements shall not be deemed to have been completed (the "Completion of the Improvements") until (1) the Improvements contain all Equipment required for the use and operation of the Improvements as a hotel and/or which may be required by governmental authorities and/or by any law, regulation or rule of any governmental authority, (2) permanent certificates of occupancy and all other necessary certificates, licenses, consents and other approvals of governmental authorities have been issued or made with respect to the Improvements, and (3) the Bank has funded the Retainage Advance.
Commencement and Completion of Improvements. It is expressly understood that the timely commencement and completion of the construction of the Improvements on the Property are of the essence of this Agreement, that the time allowance for said construction of the Improvements takes into consideration all causes for delays within the control of the Purchaser, whether foreseen or unforeseen at the time of the execution of this Agreement, but excluding Acts of God or other force majeure and unavoidable delays. It is further agreed that during the time of such construction, the Seller its agents and employees shall have the right to check the progress of the work. The Purchaser agrees, conditioned on the timely review and approval of the Purchaser's plans for construction of the Improvements to commence the construction of the Improvements on the Property in a timely manner after the Effective Date of this Agreement and to complete such Improvements within five (5) years after the Closing; provided, however, that such time periods shall be tolled for any period during which the Purchaser's plans for construction of the Improvements or Approvals under Section 8 shall have been pending for any approval. In the event Purchaser is not in default under the terms of this Agreement and has been diligently pursuing its construction efforts, Purchaser have the option, in its sole and absolute discretion, to extend the term of this Agreement for two (2) additional periods of one (1) year each. The term of this Agreement, including the referenced extensions thereof, shall not exceed seven (7) years in total.
