Correction of Construction Defects. Promptly following any demand by the Administrative Agent, the Borrowers shall correct or cause the correction of any structural defects in the Improvements and any material departures or deviations from the Plans and Specifications, as determined by the Administrative Agent in its sole but reasonable discretion, not approved in writing by the Administrative Agent.
Appears in 4 contracts
Samples: Financing and Security Agreement (Sunrise Assisted Living Inc), Financing and Security Agreement (Sunrise Assisted Living Inc), Financing and Security Agreement (Sunrise Assisted Living Inc)
Correction of Construction Defects. Promptly following any demand by the Administrative Agent, the Borrowers shall correct or cause the correction of any structural defects in the Improvements and any material departures or deviations from the Plans and Specifications, as determined by the Administrative Agent in its sole but reasonable discretion, not approved in writing by the Administrative Agent.
Appears in 2 contracts
Samples: Financing and Security Agreement (Alternative Living Services Inc), Financing and Security Agreement (Alternative Living Services Inc)
Correction of Construction Defects. Promptly Each Borrower or other owner of a Facility will promptly following any demand by the Administrative Agent, the Borrowers shall correct or cause the correction of any structural defects in the Improvements and any material departures or deviations from the Plans and Specifications, as determined by the Administrative Agent in its sole but reasonable discretion, not approved in writing by the Administrative Agent.
Appears in 2 contracts
Samples: Financing and Security Agreement (American Retirement Corp), Financing and Security Agreement (American Retirement Corp)
Correction of Construction Defects. Promptly following any demand by the Administrative Agent, the Borrowers Borrower shall correct or cause the correction of any structural defects in the Improvements and any material departures or deviations from the Plans and Specifications, as determined by the Administrative Agent in its sole but reasonable discretion, not approved in writing by the Administrative Agent.
Appears in 1 contract
Samples: Master Construction Loan Agreement (Sunrise Assisted Living Inc)
Correction of Construction Defects. Promptly following any demand by the Administrative Agent, the Borrowers Borrower shall correct or cause the correction of any structural defects in the Improvements and any material departures or deviations from the Plans and Specifications, as determined by the Administrative Agent in its sole but reasonable discretion, Specifications not approved in writing by the Administrative Agent.
Appears in 1 contract
Samples: Construction Loan Agreement
