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.
Appears in 2 contracts
Samples: Senior Mezzanine Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.), Junior Mezzanine Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.)
Commencement and Completion of Project. Borrower shall cause Mortgagor to begin demolition of the existing improvements on the Property and/or 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.
Appears in 2 contracts
Samples: Junior Mezzanine Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.), Senior Mezzanine Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.)
