CONSTRUCTION CONTRACT AMENDMENT PROCESS Sample Clauses

CONSTRUCTION CONTRACT AMENDMENT PROCESS. The Authority shall not enter into or approve any Construction Contract Amendment except as set forth in this Section 5.2. The Authority shall have the right from time to time to amend any Construction Contract to change the scope of work for any portion of the Facility and/or the Authority's payment obligations in connection therewith. Any Construction Contract Amendment that (i) when taken together with all related Construction Contract Amendments, results in a cost increase in excess of $50,000 in a Material Construction Contract (or, with respect to the Construction Contract with Construction Manager only, in excess of $100,000), (ii) when taken together with all related Construction Contract Amendments, results in a material lessening of the scope or quality of the work constituting the design or construction of the Facility or (iii) results in the likely addition of no less than one week of construction (or such amendments, in the aggregate, result in the likely addition of no less than four weeks of construction) (a "Material Construction Contract Amendment") shall be in writing and shall identify with particularity all changes being made. Each Material Construction Contract Amendment shall be effective when and only when: (a) the Authority has, or the Authority and the Contractor have, executed and delivered the Material Construction Contract Amendment (with the effectiveness thereof subject only to satisfaction of the conditions in clauses (b) and (c) below); (b) the Authority has submitted the Material Construction Contract Amendment to the Disbursement Agent and the Trustee together with an Officer's Certificate in the form attached hereto as Exhibit F (a "Construction Contract Amendment Certificate"), together with the certificates of the Manager, Independent Construction Consultant, Construction Manager (for Hard Costs under Construction Contracts to which it is a party only) and Architect (for Hard Costs with respect only to Plans prepared by it) as provided in the form of Exhibits 1 through 4 to such Construction Contract Amendment Certificate; and (c) the Disbursement Agent has acknowledged its receipt of the materials referenced in clause (b) above, as contemplated in the form of the Construction Contract Amendment Certificate. Construction Contract Amendments which are not Material Construction Contract Amendments shall not require the approval of the Trustee or any other Person to be effective.
Sample 1
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CONSTRUCTION CONTRACT AMENDMENT PROCESS. The Borrower shall not enter into or approve any Construction Contract Amendment except as set forth in this Section 6.2. The Borrower shall have the right from time to time as provided below, to amend or permit the amendment of any Construction Contract including to change the scope of work for any portion of the Project and/or the Borrower’s payment obligations in connection therewith. Any Construction Contract Amendment that (i) results in a cost increase in a Key Construction and Design Contract in excess of $500,000 individually or, when taken together with all other Construction Contract Amendments, results in a cost increase of $1,500,000 in the aggregate, (ii) when taken together with all related Construction Contract Amendments and after giving effect to any new, related Construction Contracts, results in a material lessening of the scope or quality of the work constituting the design or construction of the Project, or (iii) when taken together with all additions hereunder and under Section 6.2 of the Project Disbursement Agreement, results in the likely addition of three (3) or more weeks to the Project Schedule (any such amendment described in clauses (i) through (iii) above, a “Material Construction Contract Amendment”) shall be in writing and shall identify with reasonable particularity all changes being made. The Borrower shall not permit any Material Construction Contract Amendment to become effective unless and until:
Sample 1
CONSTRUCTION CONTRACT AMENDMENT PROCESS. The Issuer shall not enter into or approve any Construction Contract Amendment except as set forth in this Section 5.2. The Issuer shall have the right from time to time to amend any Construction Contract to change the scope of work for any portion of the Resort and/or the Issuer's payment obligations in connection therewith. Any Construction Contract Amendment that (i) when taken together with all related Construction Contract Amendments, results in a cost increase in excess of $25,000 in a Material Construction Contract (or, with respect to the Construction Contract with the Design Build Contractor only, in excess of $75,000), or (ii) when taken together with all related Construction Contract Amendments, results in a material lessening of the scope or quality of the
Sample 1

Related to CONSTRUCTION CONTRACT AMENDMENT PROCESS

  • Construction Contract On each Borrowing Date, the Borrower shall have certified that all conditions and requirements under the Construction Contract required to be satisfied on such Borrowing Date, including in connection with the respective payment installments to be made to the Yard on such Borrowing Date, shall have been satisfied (including, but not limited to, the Borrower’s payment to the Yard of the portion of the payment installment on the Vessel that is not being financed with proceeds of the Loans), other than those that are not materially adverse to the Lenders, it being understood that any litigation between the Yard and the Parent and/or Borrower shall be deemed to be materially adverse to the Lenders.

  • Construction Contracts Lessee has entered into contracts with the Contractors or separate contracts with materialmen and laborers providing for the construction of the Improvements. Lessee will cause the Contractors to promptly furnish Lessor with the complete list of all Sub-contractors or entities as and when under contract, which Contractors propose to engage to furnish labor and/or materials in constructing the Improvements (such list containing the names, addresses, and amounts of such sub-contracts as written in excess individually of $5,000, and prior to disbursement of funds to or for the benefit of such Subcontractors, affidavits of authorized signatory and other documents commercially reasonably required by Title to insure that the Leased Premises remain lien free) and will from time to time furnish Lessor or Title with true copies of all Contracts entered into by Lessee and with the terms of all verbal agreements therefor, if any, and as to subcontractors, letters signed by sub-contractors whose contracts are in excess of $5,000 setting forth the present amount of their contract and the amounts remaining to be paid under that contract, if the same information is not stated on a lien waiver reflecting the most currently requested payment to such subcontractor.

  • Construction Phase During Construction, DESIGN/BUILDER shall provide Engineering and Design Professional Services as necessary to complete the Project.

  • Construction Contract; Cost Budget Prior to execution of a construction contract, Tenant shal] submit a copy of the proposed contract with the Contractor for the construction of the Tenant Improvements, including the genera] conditions with Contractor (the “Contract”) to Landlord for its approval, which approval shall not be unreasonably withheld, conditioned or delayed. Following execution of the Contract and prior to commencement of construction, Tenant shall provide Landlord with a fully executed copy of the Contract for Landlord’s records. Prior to the commencement of the construction of the Tenant Improvements, and after Tenant has accepted all bids and proposals for the Tenant Improvements, Tenant shall provide Landlord with a detailed breakdown, by trade, for all of Tenant’s Agents, of the final estimated costs to be incurred or which have been incurred in connection with the design and construction of the Tenant Improvements to be performed by or at the direction of Tenant or the Contractor (the “Construction Budget”), which costs shall include, but not be limited to, the costs of the Architect’s and Engineers’ fees and the Landlord Coordination Fee. The amount, if any, by which the total costs set forth in the Construction Budget exceed the amount of the Tenant Improvement Allowance is referred to herein as the “Over Allowance Amount”. In the event that an Over-Allowance Amount exists, then prior to the commencement of construction of the Tenant Improvements, Tenant shall supply Landlord with cash in an amount equal to the Over- Allowance Amount. The Over-Allowance Amount shall be disbursed by Landlord prior to the disbursement of any of the then remaining portion of the Tenant Improvement Allowance, and such disbursement shall be pursuant to the same procedure as the Tenant Improvement Allowance. In the event that, after the total costs set forth in the Construction Budget have been delivered by Tenant to Landlord, the costs relating to the design and construction of the Tenant Improvements shall change, any additional costs for such design and construction in excess of the total costs set forth in the Construction Budget shall be added to the Over-Allowance Amount and the total costs set forth in the Construction Budget, and such additional costs shall be paid by Tenant to Landlord immediately as an addition to the Over-Allowance Amount or at Landlord’s option, Tenant shall make payments for such additional costs out of its own funds, but Tenant shall continue to provide Landlord with the documents described in items (1), (ii), (iii) and (iv) of Section 2.2.2.1 of this Tenant Work Letter, above, for Landlord’s approval, prior to Tenant paying such costs. All Tenant Improvements paid for by the Over-Allowance Amount shall be deemed Landlord’s property under the terms of the Lease. 4.2.2

  • Construction, Etc Each covenant contained herein shall be construed (absent express provision to the contrary) as being independent of each other covenant contained herein, so that compliance with any one covenant shall not (absent such an express contrary provision) be deemed to excuse compliance with any other covenant. Where any provision herein refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person. For the avoidance of doubt, all Schedules and Exhibits attached to this Agreement shall be deemed to be a part hereof.

  • Construction Budget Administrative Agent shall have received each of the Construction Budget in form and substance reasonably satisfactory to Administrative Agent (in consultation with the Independent Engineer).

  • Construction Management Landlord or its Affiliate or agent shall supervise the Work, make disbursements required to be made to the contractor, and act as a liaison between the contractor and Tenant and coordinate the relationship between the Work, the Building and the Building’s Systems. In consideration for Landlord’s construction supervision services, Tenant shall pay to Landlord a construction supervision fee equal to three percent (3%) of Tenant’s Costs specified in Section 7.

  • Construction Plans Tenant shall prepare final plans and specifications for the Tenant Improvements that (a) are consistent with and are logical evolutions of the Approved Schematic Plans and (b) incorporate any other Tenant-requested (and Landlord-approved) Changes (as defined below). As soon as such final plans and specifications ("Construction Plans") are completed, Tenant shall deliver the same to Landlord for Landlord's approval, which approval shall not be unreasonably withheld, conditioned or delayed. All such Construction Plans shall be submitted by Tenant to Landlord in electronic .pdf, CADD and full-size hard copy formats, and shall be approved or disapproved by Landlord within ten (10) business days after delivery to Landlord. Landlord's failure to respond within such ten (10) business day period shall be deemed approval by Landlord. If the Construction Plans are disapproved by Landlord, then Landlord shall notify Tenant in writing of its objections to such Construction Plans, and the parties shall confer and negotiate in good faith to reach agreement on the Construction Plans. Promptly after the Construction Plans are approved by Landlord and Tenant, two (2) copies of such Construction Plans shall be initialed and dated by Landlord and Tenant, and Tenant shall promptly submit such Construction Plans to all appropriate Governmental Authorities for approval. The Construction Plans so approved, and all change orders approved (to the extent required) by Landlord, are referred to herein as the "Approved Plans."

  • Construction Schedule 5.1 Coordination:

  • Construction of this Amendment; Participation Agreement (a). This Amendment shall be interpreted to be consistent with, and to facilitate compliance with and reliance on, Rule 30e-3 under the 1940 Act and Rule 498A (including paragraph (j) thereof) under the 1933 Act and any interpretations of those Rules by the Securities and Exchange Commission, its staff, courts, or other appropriate legal authorities.

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