Construction Commencement Notice Clause Samples

Construction Commencement Notice. If Buyer intends to construct Phase I, Buyer shall so indicate in its response, shall within five (5) months provide Seller with a Construction Commencement Certificate and shall within eighteen (18) months thereafter provide Seller with a Construction Completion Certificate. If Buyer (i) fails to respond to the Construction Commencement Notice, (ii) responds to the Construction Commencement Notice but indicates that it does not intend promptly to commence construction of Phase I, or (iii) responds to the Construction Commencement Notice, provides Seller with the Construction Commencement Certificate within five (5) months of responding, but fails to submit a Construction Completion Notice within eighteen (18) months thereafter, Seller shall have the exclusive right and option to repurchase all or a portion of the Property ("REPURCHASE OPTION") pursuant to the terms and conditions specified below. If Seller exercises the Repurchase Option, Seller shall be entitled to repurchase not only Phase I but also all later Phases (together, the "REPURCHASE PROPERTY"). "Construction Commencement Certificate" shall mean a certificate from Buyer's engineer or architect certifying that the foundation, footings or slab for the required Approved Improvements for Phase I have been completed in accordance with Buyer's Approved Site Plan and Working Drawings. "Construction Completion Certificate" shall mean a certificate from Buyer's engineer or architect certifying that the required Approved Improvements for Phase I have been substantially completed in accordance with Buyer's Approved Site Plan and Working Drawings

Construction Commencement Notice. 19.1 The Developer is to notify the Council of its intention to commence construction of the Developer Works not less than 10 business days before that construction commences.

Construction Commencement Notice. May 14, 2020 Project Stages Key Plan