Common use of Covenants of the Construction Agent Clause in Contracts

Covenants of the Construction Agent. The Construction Agent ----------------------------------- hereby covenants and agrees that it will: (a) following the Construction Commencement Date for each parcel of Land, cause construction of a Building on such Land to be prosecuted diligently and without undue interruption substantially in accordance with the Plans and Specifications for such Land, in accordance with the Construction Budget for such Leased Property and in compliance in all material respects with all Applicable Law and insurance requirements; (b) notify the Lessor and the Agent in writing not less than five (5) Business Days after the occurrence of each Construction Force Majeure Event; (c) take all reasonable and practical steps to cause the Completion Date for such Leased Property to occur on or prior to the Scheduled Construction Termination Date for such Leased Property, and cause all Liens (including, without limitation, Liens or claims for materials supplied or labor or services performed in connection with the construction of the Buildings), other than Permitted Liens and Lessor Liens, to be discharged; (d) following the Completion Date for each Leased Property, cause all outstanding punch list items with respect to the Buildings on such Leased Property to be completed within sixty (60) days after said Completion Date; (e) at all times during Construction, cause all title to all personalty financed by the Lessor on or within such Leased Property to be and remain vested in the Lessor and cause to be on file with the applicable filing office or offices all necessary documents under Article 9 of the Uniform Commercial Code to perfect such title free of all Liens other than Permitted Liens, it being understood and acknowledged that such Lessor's rights, title and interest in and to said personalty have been assigned to the Agent pursuant to the Operative Documents; (f) not enter into any agreements or arrangements with any Person (other than the Funding Parties pursuant to the Operative Documents) that would result in any claim against, or liability of, the Agent or any Funding Party resulting from the fact that any Leased Property is not completed on or prior to the Scheduled Construction Termination Date therefor; and (g) take all reasonable and practical steps to minimize the disruption of the construction process arising from Construction Force Majeure Events.

Covenants of the Construction Agent. The Construction Agent ----------------------------------- hereby covenants and agrees that it will, using the Funding Sources: (a) following the Construction Commencement Date for each parcel of Land, cause construction of a Building on such Land to be prosecuted diligently and without undue interruption substantially in accordance with the Plans and Specifications for such Land, in accordance with the Construction Budget for such Leased Property and in compliance in all material respects with all Applicable Law and insurance requirements; (b) notify the Lessor and the Agent in writing not less than five (5) Business Days after the occurrence of each Construction Force Majeure Event; (c) take all reasonable and practical steps to cause the Completion Date for such Leased Property to occur on or prior to the Scheduled Construction Termination Date for such Leased Property, and cause all Liens (including, without limitation, Liens or claims for materials supplied or labor or services performed in connection with the construction of the Buildings), other than Permitted Liens and Lessor Liens, to be discharged; (d) following the Completion Date for each Leased Property, cause all outstanding punch list items with respect to the Buildings on such Leased Property to be completed within sixty (60) days after said Completion Date; (e) at all times during Construction, cause all title to all personalty financed by the Lessor on or within such Leased Property to be and remain vested in the Lessor and cause to be on file with the applicable filing office or offices all necessary documents under Article 9 of the Uniform Commercial Code to perfect such title free of all Liens other than Permitted Liens, it being understood and acknowledged that such Lessor's rights, title and interest in and to said personalty have been assigned to the Agent pursuant to the Operative Documents; (f) not enter into any agreements or arrangements with any Person (other than the Funding Parties pursuant to the Operative Documents) that would result in any claim against, or liability of, the Agent or any Funding Party resulting from the fact that any Leased Property is not completed on or prior to the Scheduled Construction Termination Date therefor; and (g) take all reasonable and practical steps to minimize the disruption of the construction process arising from Construction Force Majeure Events.

Covenants of the Construction Agent. The Construction Agent ----------------------------------- hereby covenants and agrees that it will: (a) following the Construction Commencement Date for each parcel of Land, cause construction of a Building the Improvements on such Land each Property to be prosecuted diligently and without undue interruption substantially continuously in accordance with the Plans and Specifications for such Land, in accordance with the Construction Budget for such Leased Property and in compliance in all material respects with all Applicable Law Legal Requirements and insurance requirementsInsurance Requirements; (b) notify the Lessor and the Agent in writing not less than five (5) Business Days after the occurrence of each Construction Force Majeure Event; (c) take all reasonable and practical steps to cause the Completion Date for such Leased each Property to occur on or prior to the Scheduled earlier to occur of (i) the twelve month anniversary of the Construction Commencement Date (which period may be extended for up to six (6) additional months to the extent that a delay in construction is caused by a Force Majeure Event) and (ii) the Construction Period Termination Date for such Leased PropertyDate, in all cases free and cause all Liens clear (including, without limitation, by removal or bonding) of Liens or claims for materials supplied or labor or services performed in connection with the construction of the Buildings), other than Permitted Liens and Lessor Liens, to be dischargedImprovements; (dc) following the Completion Date for each Leased Property, cause all outstanding punch list items with respect to the Buildings Improvements on such Leased Property to be completed within sixty in a timely manner; (60d) days after said cause the Improvements on each Property to be constructed for an amount which when added to the Project Cost of the Land will be equal to or less than 110% of the Projected Completion DateValue with respect to such Properly; (e) at all times during Constructionupon Completion of the Improvements for a particular Property, cause all title promptly (and in any event within five (5) Business Days) deliver an Officer's Certificate to all personalty financed by the Lessor on or within such Leased Property to be and remain vested in the Lessor and cause to be on file with the applicable filing office or offices all necessary documents under Article 9 Administrative Agent (i) certifying the Completion Date of such Property and (ii) certifying the Uniform Commercial Code to perfect aggregate Property Cost of such title free of all Liens other than Permitted Liens, it being understood and acknowledged that such Lessor's rights, title and interest in and to said personalty have been assigned to the Agent pursuant to the Operative DocumentsProperty; (f) not enter into any agreements or arrangements with any Person cause the sum of (other than i) the Funding Parties pursuant aggregate Property Cost for all Construction Period Properties, plus (ii) to the Operative Documents) that would result extent not included in any claim against, or liability ofProperty Cost, the Agent or any Funding Party resulting from cost to complete the fact construction and development of Improvements on Construction Period Properties, plus (iii) the Property Cost for all Existing Properties to be in an amount that any Leased Property is not completed on or prior to the Scheduled Construction Termination Date thereforin excess of $500,000,000; and (g) take all reasonable and practical steps to minimize procure insurance for the disruption Properties during the Construction Period in accordance with the provisions of Article XIV of the construction process arising from Construction Force Majeure EventsLease.

Covenants of the Construction Agent. The Construction Agent ----------------------------------- hereby covenants and agrees that it will: (a) following the Construction Commencement Date for each parcel of LandProperty, cause construction of a Building on such Land the applicable Improvements to be prosecuted diligently diligently, in a good and without undue interruption workmanlike manner, and substantially in accordance with the Plans and Specifications Specifications, construction contracts, Construction Budget and construction schedule for such LandProperty, and in accordance with the Construction Budget for such Leased Property prevalent industry practices and in compliance in all material respects with all Applicable Law Legal Requirements and insurance requirementsInsurance Requirements; (b) notify the Lessor and the Agent in writing not less than five (5) Business Days after the occurrence of each Construction Force Majeure Event; (c) take all reasonable and practical steps to cause the Completion Date for such Leased Property Improvements to occur on or prior to before the Scheduled Construction Period Termination Date for such Leased PropertyDate, in each case free and cause all clear (by removal or bonding) of Liens (including, without limitation, Liens or claims for materials supplied or labor or services performed in connection with the construction of the Buildings), other than Permitted Liens and Lessor Liens); PROVIDED, to be discharged; (d) following that if the Completion Date does not occur on or before such date, then the Lessor may take such actions (and the Construction Agent shall pay such costs and expenses) as provided for each Leased Property, in SECTION 2.3. (c) cause all outstanding punch list items with respect to the Buildings on such Leased Property Improvements to be completed within sixty (60) days after said Completion Datecompleted; (ed) at all times during Constructionconstruction, cause all title to all personalty financed by the Lessor Equipment on or within such Leased each Property to be and remain vested vest in the Lessor Owner Trustee and cause to be on file with the applicable filing office or offices all necessary documents under Article 9 of the Uniform Commercial Code to perfect such title free of all Liens other than Permitted Liens, it being understood and acknowledged that such Lessor's rights, title and interest in and to said personalty have been assigned (to the Agent pursuant extent perfection can be obtained by filing under the UCC); (e) no less than five (5) Business Days prior to the Operative Documents;scheduled date for the initial Construction Advance to be made in connection with any Improvements, the Construction Agent shall deliver to the Lessor true, complete and correct copies of the Construction Budget for such Improvements. Thereafter, the Construction Agent, on a monthly basis, shall deliver to the Lessor true, correct and complete copies of any material modifications of the Construction Budget; and (f) not enter into any agreements procure (or arrangements cause to be procured), on behalf of Lessor (but at Construction Agent's expense) insurance for the Properties during the period commencing on each Property Closing Date and continuing to and throughout the Construction Period in such amounts and with any Person (other than such coverages as are required to be maintained during the Funding Parties pursuant to Term under the Operative Documents) that would result in any claim against, or liability of, the Agent or any Funding Party resulting from the fact that any Leased Property is not completed on or prior to the Scheduled Construction Termination Date therefor; and (g) take all reasonable and practical steps to minimize the disruption provisions of ARTICLE XIV of the construction process arising from Construction Force Majeure EventsLease.

Covenants of the Construction Agent. The Construction Agent hereby ----------------------------------- hereby covenants and agrees that it will: (a) following the Construction Commencement Date for each parcel of Land, cause construction of a Building on such Land to be prosecuted diligently and without undue interruption substantially in accordance with the Plans and Specifications for such Land, in accordance with the Construction Budget for such Leased Property and in compliance in all material respects with all Applicable Law and insurance requirements; (b) notify the Lessor and the Agent in writing not less than five (5) Business Days after the occurrence of each Construction Force Majeure Event; (c) take all reasonable and practical steps to cause the Completion Date for such Leased Property to occur on or prior to the Scheduled Construction Termination Date for such Leased Property, and cause all Liens (including, without limitation, Liens or claims for materials supplied or labor or services performed in connection with the construction of the Buildings), other than Permitted Liens and Lessor Liens, to be discharged; (d) following the Completion Date for each Leased Property, cause all outstanding punch list items with respect to the Buildings on such Leased Property to be completed within sixty (60) days after said Completion Date; (e) at all times during Construction, cause all title to all personalty financed by the Lessor on or within such Leased Property to be and remain vested in the Lessor and cause to be on file with the applicable filing office or offices all necessary documents under Article 9 of the Uniform Commercial Code to perfect such title free of all Liens other than Permitted Liens, it being understood and acknowledged that such Lessor's rights, title and interest in and to said personalty have been assigned to the Agent pursuant to the Operative Documents; (f) not enter into any agreements or arrangements with any Person (other than the Funding Parties pursuant to the Operative Documents) that would result in any claim against, or liability of, the Agent or any Funding Party resulting from the fact that any Leased Property is not completed on or prior to the Scheduled Construction Termination Date therefor; and (g) take all reasonable and practical steps to minimize the disruption of the construction process arising from Construction Force Majeure Events.