Commencement and Completion of Project. Borrower shall cause Mortgagor to begin construction and installation of the improvements in connection with the Project on or before the commencement date set forth in the Senior Loan Documents and shall cause Mortgagor to prosecute such construction and installation with diligence so that the construction and Completion (as defined in the Completion Guaranty) of the Project (other than payment of claims that are being contested in accordance with the Loan Documents) shall have occurred by the completion deadline set forth in the Senior Loan Documents.
Commencement and Completion of Project. Unless otherwise extended in writing by OCII, Borrower must: (a) commence construction of Phase IIA(1) infrastructure by December 31, 2014; (b) complete construction of Phase IIA(1) by March 1, 2017 (the “Completion Date”), in substantial accordance with the plans and specifications approved by OCII, as evidenced by a certificate of occupancy, or equivalent certification provided by the City's Department of Building Inspection, and an architect's or engineer's certificate of completion; and (c) achieve occupancy of Ninety percent (90%) of the Units by October 1, 2017.
Commencement and Completion of Project. Borrower (i) has commenced and will hereafter cause to be prosecuted with diligence and continuity the permitting, site acquisition, component fabrication and purchase, construction of the Improvements, and the acquisition and installation of all equipment and other Property required for the Project, in accordance with the Construction Schedule, the Project Budget, and the Plans and Specifications; (ii) promptly correct or cause to be corrected any defect in the Property with respect to the Project, any material departure in the construction or installation of the Improvements and other Property with respect to the Project from the Plans and Specifications, governmental requirements, or any encroachment by any part of the Improvements or other Property with respect to the Project on any building line, easement, property line, or restricted area; (iii) cause the Project to be completed in good and workmanlike manner; and (iv) promptly notify Lenders of any lien filed by any Contractor, any subcontractor, supplier or laborer or of Borrower’s knowledge that any Contractor or any subcontractor, has failed to pay amounts due following the funding of any advance for the payment of same. Notwithstanding anything to the contrary in this Agreement, the Project (or either of Phase I or Phase II of the Project) or an Alternative Qualified Project shall not be deemed to have been fully completed in accordance with this Agreement (“Completion” or “Completion of the Project”) until all necessary certificates, licenses, consents and other approvals of Governmental Authorities have been issued or made with respect to the completion of the Project (or the applicable phase thereof), the Alternative Qualified Project, if applicable, and the operation of the Project or Alternative Qualified Project, as applicable. Borrower will use its best reasonable efforts to complete Phase I of the Project not later than the Scheduled Completion Date for Phase I and to complete Phase II of the Project not later than the Scheduled Completion Date of Phase II of the Project.
Commencement and Completion of Project. Borrowers shall cause Mortgagor to construct and install the improvements in connection with the Project with diligence so that the construction and Completion of the Project (other than payment of claims that are being contested in accordance with the Loan Documents) shall have occurred by December 31, 2007.
Commencement and Completion of Project. The Developer shall use its best efforts to complete construction of the Project within 36 calendar months, from the effective date, with an additional extra grace period of Nine (9) months, subject to there being no (a) Force Majeure Event, or (b) title related issues in respect of the Schedule Property, or (c) Governmental or any other restriction on undertaking development and construction on the Schedule Property. The Developer shall be entitled to proportionate extension of time period for achieving the Completion of Development, if the delay, in achieving the Completion of Development is on account of any of the aforesaid reasons. In the event of any delay in achievement of Completion of Development of the Project in terms of this Agreement within the timelines specified in Clause 6.1 above, the Parties shall discuss and may mutually agree on the further grace period that may be granted to the Developer to achieve Completion of Development and deliver the First Party Share to the First Party, in terms of this Agreement. The First Party shall extend full co-operation to the Developer to complete the development and construction of the Project. The First Party shall not create any impediments or obstruction in the way of the Developer in developing or constructing the Project. In the event of any delay on the part of the Developer in handing over the First Party Share for reasons other than what is mentioned in this Agreement, the Developer shall be entitled to Nine (9) months grace period to complete the construction of the First Party Share and obtain the occupancy certificate from the concerned statutory authorities, and deliver the First Party Share of the saleable built-up area to the First Party.
Commencement and Completion of Project. 22 Section 5.2 Records and Accounts. 22 Section 5.3 Financial Statements and Information. 23 Section 5.4 Insurance. 24
Commencement and Completion of Project. The Borrower will commence construction and equipping of the Improvements within [ ] ([ ]) days after the Closing Date, will diligently pursue construction and equipping of the Improvements, will attain Completion prior to the Completion Date, and will pay all sums and perform all such acts as may be necessary or appropriate to complete such construction and equipping, all as more fully set forth in the Construction Disbursement Agreement.
Commencement and Completion of Project. The Borrower will commence rehabilitation and equipping of the Improvements within thirty (30) days after the Closing Date, will diligently pursue rehabilitation and equipping of the Improvements, will attain Completion prior to the Completion Deadline, and will pay all sums and perform all such acts as may be necessary or appropriate to complete such rehabilitation and equipping, all as more fully set forth in the Construction Disbursement Agreement.
Commencement and Completion of Project. Subject to the receipt of all applicable Government Approvals, Landmark Owner shall complete the Project in accordance with the Project Construction Schedule. The Commissioner shall have discretion to extend any of the construction commencement and completion dates for good cause shown by issuing a written extension letter. Landmark Owner shall give written notice to the City within five (5) days after it commences the Project.
Commencement and Completion of Project. The Project shall be divided into ____ phases of work (“Phases”), as set forth on Exhibit B, Project Timeline and Breakdown. The Contractor shall commence the Project within _____ days of the date this Contract is signed by all parties (“Commencement Date”), provided that Contractor has received the Down Payment, as set forth herein. Phase 1 shall commence upon the Commencement Date, and shall be completed within ____ days of the Commencement Date. Phase 2 shall commence upon the completion of Phase 1, and shall be completed within ____ days from the completion of Phase 1. Phase 3 shall commence upon the completion of Phase 2, and shall be completed within ____ days from the completion of Phase 2. Phase 4 shall commence upon the completion of Phase 3, and shall be completed within ____ days from the completion of Phase 3. Upon completion of the final Phase of Work, Contractor shall coordinate and cooperate with Building and Housing Department of the City of _____________________ to conduct all final inspections, as required by the City of ________________________ for the Electrical, HVAC and Plumbing Systems. Furthermore, Contractor shall obtain a valid occupancy permit for the Property, if so required by the City of _______________. The Occupancy permit shall be obtained within ___ days of the completion of Phase 4. The Project Completion Date shall be within 21 days after the issuance of the Occupancy Permit, which shall permit sufficient time for Contractor to complete any remaining punch list items remaining to complete the Project. Notwithstanding the above, the Contractor hereby acknowledges, understands and agrees that the Project shall be completed no later than _____________, 2018 (“Final Project Completion Date”), and time is of the essence. Contract Price: Owner will pay Contractor the amount of $_____________ (“Contract Price”). The Contract price shall include the cost of all materials, labor, permit fees, and other expenditures incurred by Contractor in the completion of the Project. The Contract Price shall be paid by Owner in the following manner: Owner shall pay to Contractor a down payment $_____________ (“Down Payment”) upon execution of this Contract, the receipt of which is hereby acknowledge by Contractor. Owner shall pay to Contractor the amount of $____________ upon Completion of Phase 1. Owner shall pay to Contractor the amount of $___________ upon Completion of Phase 2. Owner shall pay to Contractor the amount of $____________ upo...
