Construction of Improvements; Commencement of Basic Rent. Construction Advances will be made with respect to particular Improvements to be constructed and with respect to ongoing Work regarding the Equipment and construction of particular Improvements, in each case, pursuant to the terms and conditions of this Agreement and the Agency Agreement. The Construction Agent will act as a construction agent on behalf of the Lessor respecting the Work regarding the Equipment, the construction of such Improvements and the expenditures of the Construction Advances related to the foregoing. The Construction Agent shall promptly notify the Lessor upon Completion of the Improvements and the Lessee shall commence to pay Basic Rent as of the Rent Commencement Date.
Construction of Improvements; Commencement of Basic Rent. Construction Advances will be made with respect to particular Improvements to be constructed and with respect to ongoing Work regarding the Equipment and construction of particular Improvements, in each case, pursuant to the terms and conditions of this Agreement, the Lessor Assignment Agreement and the Agency Agreement. The Construction Agent will act as a construction agent on behalf of the Lessor respecting the Work regarding the Equipment, the construction of such Improvements and the expenditures of the Construction Advances related to the foregoing. During the Construction Period, the Construction Agent shall have sole management responsibility over, and shall be solely responsible for, the construction, means, methods, sequences and procedures with respect to the Property. The Construction Agent shall promptly notify the Lessor upon Completion of the Improvements and the Lessee shall commence to pay Basic Rent as of the Rent Commencement Date.
Construction of Improvements; Commencement of Basic Rent. Construction Advances from the Lenders and Holders to the Lessor at the request of the Construction Agent pursuant to Section 5 hereof will be made with respect to particular Improvements to be constructed and with respect to ongoing Work regarding the Equipment and construction of particular Improvements, in each case, pursuant to the terms and conditions of this Agreement and the Agency Agreement. The Construction Agent will act as a construction agent on behalf of the Lessor respecting the Work regarding the Equipment, the construction of such Improvements and the expenditures of the Construction Advances related to the foregoing. The Construction Agent shall promptly notify the Lessor upon Completion of the Improvements and the Lessee shall commence to pay Basic Rent as of the Rent Commencement Date.
Construction of Improvements; Commencement of Basic Rent. Construction Advances will be made with respect to particular Improvements to be constructed and with respect to ongoing Work regarding the Equipment and construction of particular Improvements, in each case, pursuant to the terms and conditions of this Agreement and the Construction Agency Agreement. The Construction Agent will act as a construction agent on behalf of the Lessor respecting the Work regarding the Equipment, the construction of such Improvements and the expenditures of the Construction Advances related to the foregoing. The Construction Agent shall promptly notify the Lessor upon Completion of any Improvements and the Lessee shall commence to pay Basic Rent in respect of such Improvements and the related portion of the Property as of the related Rent Commencement Date.
Construction of Improvements; Commencement of Basic Rent. Construction Advances will be made with respect to particular Improvements to be constructed and with respect to ongoing Work regarding the Equipment and construction of particular Improvements, in each case, pursuant to the terms and conditions of this Agreement and the Agency Agreement. Construction Advances may be made as Post-Completion Construction Advances subject to the terms and conditions set forth in this Agreement. Subject to the terms and conditions of Section 5.1(b) of this Agreement, Construction Advances shall also be made after the Rent Commencement Date for any Property to the extent that, on any Payment Date, the Basic Rent the Lessee is required to pay with respect to such Property is less than the interest and Holder Yield with respect to such Property due on such Payment Date. The Construction Agent will act as a construction agent on behalf of the Lessor respecting the Work regarding the Equipment, the construction of such Improvements and the expenditures of the Construction Advances related to the foregoing. The Construction Agent shall promptly notify the Lessor upon Completion of the Improvements and the Lessee shall commence to pay Basic Rent as of the Rent Commencement Date.
Construction of Improvements; Commencement of Basic Rent. Construction Advances will be made with respect to particular Improvements to be constructed and with respect to ongoing Work regarding the Equipment and construction of particular Improvements, in each case, pursuant to the terms and conditions of this Agreement and the Construction Agency Agreement and, with respect to the Little Rock Property, the Bond Documents. The Construction Agent will act as a construction agent on behalf of the Lessor and, with respect to the Little Rock Property, the City of Little Rock, respecting the Work regarding the Equipment, the construction of such Improvements and the expenditures of the Construction Advances and, with respect to the Little Rock Property, the Bonds, related to the foregoing. The Construction Agent shall promptly notify the Lessor upon Completion of the Improvements and the Lessee shall commence to pay Basic Rent as of the Rent Commencement Date.
Construction of Improvements; Commencement of Basic Rent. Construction Advances will be made with respect to particular Improvements to be constructed and with respect to ongoing Work regarding the Equipment and construction of particular Improvements, in each case, pursuant to the terms and conditions of this Agreement, the Agency Agreement and the other Operative Agreements. The Construction Agent will act as a construction agent on behalf of the applicable Development Authority (if any) and the Lessor respecting the Work regarding the Equipment, the construction of such Improvements and the expenditures of the Construction Advances related to the foregoing. The Construction Agent shall promptly notify the Lessor upon Completion of the Improvements and the Lessee shall commence to pay Basic Rent as of the Rent Commencement Date.
Construction of Improvements; Commencement of Basic Rent. Construction Advances will be made with respect to the Improvements to be constructed and with respect to ongoing Work regarding the Equipment and construction of the Improvements, in each case, pursuant to the terms and conditions of this Agreement and the Agency Agreement. The Construction Agent will act as a construction agent on behalf of the Lessor respecting the Work regarding the Equipment, the construction of the Improvements and the expenditures of the Construction Advances related to the foregoing. During the Construction Period, the Construction Agent shall have sole management and control over, and [*] Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. shall be solely responsible for, the construction, means, methods, sequences and procedures with respect to the Property. The Construction Agent shall promptly notify the Lessor upon Completion of the Improvements and the Lessee shall commence to pay Basic Rent as of the Rent Commencement Date.
Construction of Improvements; Commencement of Basic Rent. Construction Advances will be made with respect to particular Improvements to be constructed and with respect to ongoing Work regarding the Equipment and construction of particular Improvements, in each case, pursuant to the terms and conditions of this Agreement and the Agency Agreement. The Construction Agent that is a party to a Lease Supplement respecting a particular Property will act as a construction agent on behalf of the Lessor respecting the Work regarding the Equipment, the construction of such Improvements and the expenditures of the Construction Advances related to the foregoing. The Construction Agent that is a party to a Lease Supplement respecting such Property shall promptly notify the Lessor upon Completion of the Improvements and the Lessee that is a party to a Lease Supplement respecting such Property shall commence to pay Basic Rent as of the Rent Commencement Date.
Construction of Improvements; Commencement of Basic Rent. Fundings will be made with respect to the Improvements to be constructed and the Equipment to be installed, in each case, pursuant to the terms and conditions of this Agreement and the Construction Agency Agreement. The Construction Agent will act as a construction agent on behalf of the Lessor respecting the construction of the Improvements to be installed and the expenditures related to the foregoing. The Construction Agent shall promptly notify the Lessor upon Substantial Completion, and the Lessee shall commence to pay Basic Rent as of the Rent Commencement Date.
