Common use of DUTIES AND RESPONSIBILITIES OF THE COMPANY Clause in Contracts

DUTIES AND RESPONSIBILITIES OF THE COMPANY. A. The Company agrees to substantially complete the Project as set forth in Exhibit A and as required by Paragraph 3 before the Redevelopment Project Investment Deadline. For the purposes of this Agreement, “Substantially Complete” or “Substantial Completion” shall mean either (1) a certification by the architect hired for the purposes of designing the Project that the Project construction is complete but for any minor punch list items, which certification shall be submitted in writing to and approved by the IEDC, which approval shall not be unreasonably withheld, or (2) a copy of the certificate of occupancy or substantially similar certificate issued by the applicable government agency confirming the completion of construction submitted to and approved by the IEDC, which approval shall not be unreasonably withheld. If the Project is not Substantially Complete with a total investment equal to or greater than the Redevelopment Capital Investment Amount before the Redevelopment Project Investment Deadline, the IEDC, in its sole and absolute discretion, may make a determination under Paragraph 8 that the Company is noncompliant with the requirements of this Agreement.

DUTIES AND RESPONSIBILITIES OF THE COMPANY. A. The Company agrees to substantially complete Substantially Complete (as further defined below in Paragraph 7B) the Project as set forth in Exhibit A and as required by Paragraph 3 before the Redevelopment Project Investment Deadline. For the purposes of this Agreement, “Substantially Complete” or “Substantial Completion” shall mean either (1) a certification by the architect hired for the purposes of designing the Project that the Project construction is complete but for any minor punch list items, which certification shall be submitted in writing to and approved by the IEDC, which approval shall not be unreasonably withheld, conditioned or delayed, or (2) a copy of the certificate of occupancy or substantially similar certificate issued by the applicable government agency confirming the completion of construction submitted to and approved by the IEDC, which approval shall not be unreasonably withheld, conditioned or delayed. If the Project project is not Substantially Complete constructed with a total investment equal to or greater than eighty percent (80%) of the Redevelopment Capital Investment Amount before the Redevelopment Project Investment Deadline, the IEDC, in its sole and absolute discretion, may make a determination under Paragraph 8 that the Company is noncompliant with the requirements of this Agreement.

DUTIES AND RESPONSIBILITIES OF THE COMPANY. A. The Company agrees to substantially complete the Project as set forth in Exhibit A and as required by Paragraph 3 before the Redevelopment Project Investment Deadline. For the purposes of this Agreement, “Substantially Complete” or “Substantial Completion” shall mean either (1) a certification by the architect hired for the purposes of designing the Project that the Project construction is complete but for any minor punch list items, which certification shall be submitted in writing to and approved by the IEDC, which approval shall not be unreasonably withheld, or (2) a copy of the certificate of occupancy or substantially similar certificate issued by the applicable government agency confirming the completion of construction submitted to and approved by the IEDC, including but not limited temporary certificates of occupancy, which approval shall not be unreasonably withheld. If the Project is not Substantially Complete with a total investment equal to or greater than the Redevelopment Capital Investment Amount before the Redevelopment Project Investment Deadline, the IEDC, in its sole and absolute discretion, may make a determination under Paragraph 8 that the Company is noncompliant with the requirements of this Agreement.