Covenant for Commencement and Completion of Reconstruction. Developer covenants and agrees to promptly submit any claim for damage to the insurer, to promptly restore the Property to adequate, clean, and orderly condition and to commence the Reconstruction Work, as soon as practicable, and to fully complete such Reconstruction Work as expeditiously as reasonably possible.
Covenant for Commencement and Completion of Reconstruction. Subject to the provisions of this Section, Tenant covenants and agrees to commence the Reconstruction Work as soon as practicable but in any event within one (1) month after the insurance proceeds in respect of the destroyed or damaged improvements or Furnishings and Equipment have been received, and to fully complete such Reconstruction Work as expeditiously as possible consistent with the nature of the damage.
Covenant for Commencement and Completion of Reconstruction. Developer covenants and agrees to commence the Reconstruction Work as soon as practicable, but in any event within three (3) months after the insurance proceeds in respect of the destroyed or damaged improvements or personally have been received, and to fully complete such Reconstruction Work as expeditiously as possible consistent with the nature and extent of the damage. Developer shall comply in all respects with the provisions of Section 3.13 with respect to any Reconstruction Work.
Covenant for Commencement and Completion of Reconstruction. Operator covenants and agrees to commence the Reconstruction Work as soon as practicable, but in any event within three months after the insurance proceeds for the destroyed or damaged Improvements have been received by Operator or the Insurance Trustee, and to fully complete the Reconstruction Work as expeditiously as possible under the circumstances. With respect to any Reconstruction Work, Operator must comply with all of the provisions of this Agreement regarding renovation or alteration of the Improvements.
Covenant for Commencement and Completion of Reconstruction. Subject to the provisions of Section 13.7(b) and Section 13.9, Developer covenants and agrees to commence the Reconstruction Work as soon as practicable but in any event within ninety (90) days after the insurance proceeds for the destroyed or damaged improvements or personalty have been received, and to fully complete such Reconstruction Work as expeditiously as possible consistent with the nature of the damage, but in any event within twenty-four (24) months from the start thereof; provided, that if it is not practicable to commence such Reconstruction Work within such ninety (90) day period, or to complete such Reconstruction Work within such twenty four (24) month period, then such Reconstruction Work may be commenced and completed within a longer period, provided that such period shall be approved in writing by the Executive Director after written request from Developer. As used in the preceding sentence, the term “available net insurance proceeds” means the sum actually paid by the insurer or insurers in respect of the claim in question, less all costs and expenses incurred by Developer or the Insurance Trustee in the collection, holding and disbursement of same, including (without limitation) reasonable attorney’s fees.
Covenant for Commencement and Completion of Reconstruction. VTUSA agrees to commence the Reconstruction Work as soon as practicable, but in any event within 60 days after the insurance proceeds for the destroyed or damaged Project and/or personal property have been received by VTUSA or the Insurance Trustee and the permit to perform the Reconstruction Work has been issued. VTUSA shall diligently and continuously seek to submit an application for a building permit for the Reconstruction Work within 30 days after receipt of the insurance proceeds by VTUSA or the Insurance Trustee. VTUSA agrees to fully complete the Reconstruction Work as expeditiously as possible under the circumstances. With respect to any Reconstruction Work, VTUSA will comply with all provisions of this Agreement regarding renovation or alteration of the Premises.
