Continued Development of Project. Tenant acknowledges that, as more particularly provided in the Addendum to this Lease, the development of the Project is continuing and may, at Landlord’s election, include the construction of additional buildings and improvements within the Project, including in areas which currently constitute Common Areas.
Continued Development of Project. Landlord may, at its ---------------------------------------------- election, (i) close any of the Common Areas to the extent required in the opinion of Landlord's legal counsel to prevent a dedication of any of the Common Areas or the accrual of any rights to any person or to the public in and to any portion of the Common Areas, (ii) close, temporarily, any of the Common Areas for maintenance purposes, (iii) designate other property outside the boundaries of the Project to become part of the Common Areas, (iv) close off or otherwise utilize portions of the Common Areas while constructing improvements or making repairs or alterations to any portion of the Project, and/or (v) make any changes to the Common Areas, or any part of the Project, including without limitation changes to buildings or other improvements, the addition of new buildings or other improvements, and/or changes in the location of driveways, entrances, exits, vehicular parking spaces, or the direction of the flow of traffic. Tenant acknowledges that the development of the Project is continuing and may, at Landlord's election, include the construction of additional buildings and improvements to the Common Areas. Landlord's right pursuant to this Paragraph 32 shall be subject to the condition that exercise of any of such rights shall not unreasonably interfere with Tenant's use of the Premises, or decrease the minimum number of parking spaces required to be made available for use by Tenant under this Lease.
Continued Development of Project. Until the Closing Date, Seller and the LLC shall continue to pursue and control the development, permitting and licensing of the Project, all as Seller and the LLC deem reasonably appropriate (it being understood that neither Seller nor the LLC shall have any obligation with respect to any expansion of the Project above 750 MW), subject only to the requirements of this Agreement. Except as otherwise provided in this Agreement:
(i) all activities of the LLC and of Seller in connection with the development and licensing of the Project ("Project Activities") shall be undertaken and pursued in accordance with Enron Practice, provided, however, that Buyer expressly acknowledges and agrees that (A) neither Seller, the LLC nor any Affiliate of Seller intends to enter into an EPC Contract prior to the Closing Date, (B) because Buyer has elected not to enter into the EPC Contract with National Energy Production Company ("NEPCO") provided to Buyer on DealBench such EPC Contract is no longer available to Buyer and (C) Buyer assumes all risk arising from the foregoing items (A) and (B) and the failure of any party to enter into an EPC Contract on behalf of the Project prior to the Closing Date;
(ii) the LLC and Seller, on behalf of the LLC, may spend or incur such amounts as they deem reasonably required for the development of the Project provided that, for purposes of calculating the Adjusted Cash Purchase Price, such amounts shall not, without Buyer's prior written consent (A) in the aggregate, exceed the aggregate amount of the Development Expenses Budget, or (B) with respect to expenditures covered by any line item in the Development Expenses Budget, exceed the amount of such line item, it being agreed, however, that for purposes of this clause (B), the contingency line item may be allocated by Seller to any other line item; provided, however, that no amounts expended by Seller in connection with the LLC's proposed additional 250 MW generating facility on the Project Site shall be counted as Development Expenses except for $336,771.00 as provided in the Development Expenses Budget, and the LLC shall have the right to prepare and request, at Seller's expense, interconnection studies for, and, at Seller's option, pursue a CEC certification decision for, such additional generating facility;
(iii) Except as provided in the preceding SectionSections 7.1(a)(ii) and (iv) and subject to the agreements of the Parties set out in Exhibit 7.1(a)(iii) (which sets out certain p...
Continued Development of Project. Tenant acknowledges that, as more particularly provided in the Addendum to this Lease, the development of the Project is continuing.
Continued Development of Project. Tenant acknowledges that, as more particularly provided below, the development of the Project is continuing and may, at Landlord’s election, include the construction of additional buildings and improvements within the Project, including in areas which currently constitute Common Areas. Tenant is entering into this Lease with a full understanding of the possible ramifications/effects of such future development work on its tenancy and the rental charged hereunder takes such factors into account. Tenant further acknowledges and agrees that Landlord may, from time to time, at its sole election, construct (including, without limitation, additional buildings), reconstruct (including without limitation the replacement of certain improvements with other improvements), improve (including tenant improvements), modify, expand, or otherwise alter the Project (collectively, “Construction Work”), or portions thereof (in no event however will Landlord have any obligation to do so). Tenant acknowledges that any such Construction Work will necessarily involve, among other things, the generation of noise, dust, and vibrations, barricading portions of the Project and the placement of scaffolding within the Project, demolition, structural alterations, storage of materials and equipment within the Project, and the presence of workmen within the Project, all of which may require the rearrangement of the Common Areas, including, without limitation, landscaping, parking areas (which may include the provision of temporary parking areas during periods of construction), roadways, lighting facilities, and the re-direction of vehicular and pedestrian traffic. Additionally, it is anticipated that the parking structure serving the Premises may be closed during the construction of further improvements above such parking structure. The results of such closure will include, among other things, the temporary relocation of Tenant’s parking from the parking structure to other portions of the Project or to nearby property. Further, Landlord hereby reserves such licenses and easements in, on, above or below the Premises as may be reasonably required (i) for the installation, inspection, surveying, maintenance, or construction of mains, conduits, shafts, columns, footings, piers, pipes or other facilities to serve any building within the Project, or (ii) for any Construction Work; provided, however, Landlord will use its good faith efforts to minimize any unreasonable interference with Tenant’s ...
Continued Development of Project
