Construction Deposit. Tenant shall remit to Landlord an amount (the "Prepayment") equal to one-half (1/2) of the projected Excess Costs, if any, within five (5) working days after commencement of construction by Landlord. On or prior to the Expansion Space Commencement Date, Tenant shall deliver to Landlord the actual Excess Costs, minus the Prepayment previously paid. Failure by Tenant to timely tender to Landlord the full Prepayment shall permit Landlord to stop all work until the Prepayment is received. All sums due Landlord under this Section 2.3 shall be considered Rent under the terms of the Lease and nonpayment shall constitute a default under the Lease and entitle Landlord to any and all remedies specified in the Lease.
Construction Deposit. Prior to commencement of construction in the Premises, Xxxxxx’s General Contractor shall deliver a damage deposit in the form of a cashier’s check in the amount of $2,500.00 made payable to Landlord. Landlord shall have the right to use all or any part of said damage deposit as reimbursement for any debris clean-up or damage caused by Tenant’s General Contractor or subcontractors to any Common Areas.
Construction Deposit. Owner agrees to pay a construction deposit to be paid to Middle Island Property Owners Association for the purposes of ensuring compliance with the Covenants, Design Guidelines, Road Cut application, common areas, rights of way, fees, fines, penalties, and administrative expenses. The Association will refund the deposit in full, upon completion of the project, as determined by the ARC if: • The construction project on the property has been completed in accordance with ARC approved plans • No common areas on the property or rights of way have been damaged or disturbed by construction • No covenants or design guidelines have been violated. • No deficits are remaining from the landscaping plan • Road cut process and specifications have been adhered to and passed final inspection Failure to satisfy these conditions may result in the loss of some or all the deposit, regardless of whether the damage or failure is caused by owner, architect, landscape architect or builder, or their agents. Owner understands that the deposit may be applied to reimburse the Association for damages to the common areas and rights of ways and to fines levied by the Association. If the fine(s) exceed the amount of the Deposit, the balance owed may be assessed as a lien against the owner’s property. In addition to fines, if the owner fails to cure any violation of the covenants, design guidelines, or plans approved by the ARC, the Association after providing the owner with notice and a reasonable time to cure the violation shall have the right to enter the property, remove or otherwise cure the violation, and restore the property to substantially the same condition as previously existed. All costs, together with interest at the maximum rate allowed by law, may be deducted from the deposit and the balance owned may be assessed as a lien against the owner’s property.
Construction Deposit. Tenant shall remit to Landlord an amount (the “Prepayment”) equal to fifty percent (50%) of the projected Excess Costs, if any, within five (5) working days after commencement of construction by Landlord. On or prior to the Third Expansion Date, Tenant shall deliver to Landlord the actual Excess Costs, minus the Prepayment previously paid. Failure by Tenant to timely tender to Landlord the full Prepayment shall permit Landlord to stop all work until the Prepayment is received. All sums due Landlord under this Section 2.4 shall be considered Rent under the terms of the Lease and nonpayment beyond the applicable notice and cure period shall constitute a default under the Lease and entitle Landlord to any and all remedies specified in the Lease.
Construction Deposit. Buyer has paid Seller a construction deposit of $ .
Construction Deposit. Tenant shall remit to Landlord an amount (the “Prepayment”) equal to the projected Excess Costs, if any, prior to commencement of construction by Landlord and commencement of work required by each change order involving Excess Costs-during the construction period. Should Tenant fail to timely make a Prepayment, Landlord shall have the right to suspend construction and each day of delay shall be a Tenant Delay. All sums due Landlord under this Section 2.4 shall be considered Rent under the terms of the Lease and nonpayment shall constitute a default under the Lease and entitle Landlord to any and all remedies specified in the Lease, including without limitation, Late Charges.
Construction Deposit. The Construction Deposit, if any, referenced herein shall be held and used by Seller to pay for the construction of the improvements on the Property and will not be kept in a trust / escrow account. Since the Construction Deposit will, in many cases, be used to either customize or upgrade the Property based upon Buyer’s selections, it shall be retained by Seller as partial liquidated damages (and not as a penalty) in the event Buyer fails to close on the purchase of the Property (except if the failure of Buyer to close is due to the Seller’s default). The total amount of the Construction Deposit shall be credited against the purchase price at closing.
Construction Deposit. Upon the execution hereof, Buyer shall deposit the Construction Deposit with Seller. The Construction Deposit shall be used by Seller, in its sole and absolute discretion, to pay for the construction of improvements on the Premises. Seller shall hold the Construction Deposit in its general account and may commingle such funds with other funds. The Construction Deposit is used to pay for the Premises and for items selected by Buyer, and is therefore not part of any appraisal contingency. If items being paid for by the deposit are reflected in the Purchase Price, the Construction Deposit shall be credited to Buyer at Closing.
Construction Deposit. At least twenty (20) business days prior to the commencement of the design, procurement, installation, or construction of the LES Interconnection Facilities and Network Upgrades, the Customer shall provide LES with a deposit equal to one hundred percent (100%) of the cost estimated for such LES Interconnection Facilities and Network Upgrades.
Construction Deposit. Developer shall provide the construction deposit provided for in Section 1311.04 of the City’s Codified Ordinances and shall further comply with all provisions of that Section.
