Effect of Certificate of Completion Sample Clauses

Effect of Certificate of Completion. Upon the issuance of Certificate of Completion by the Redevelopment Entity for the Project, the provisions of this Agreement shall no longer encumber the Project Site and accordingly, subject to the following proviso, Redeveloper shall have the right to transfer any interest to the Project Site, including any portion of the Project thereon, without any limitations set forth herein or otherwise, upon which transfer Redeveloper’s obligations hereunder (but only with respect to such transferred portion) shall be of no further force and effect; provided, however, that nothing in this sentence shall be deemed to abrogate the provisions of any other documents theretofore delivered pursuant to this Agreement with respect to such property, including, without limitation (and by of example only), any deeds (inclusive of restrictions therein), declarations, certifications, PILOT Agreements, etc. The Redevelopment Entity, at any time, and from time to time, after its issuance of a Certificate of Completion for the Project shall, within ten (10) business days following a written request by Redeveloper, execute and deliver to (a) Redeveloper and/or (b) a third party (e.g., prospective lender, purchaser, investor, tenant, etc.) designated by Redeveloper an instrument in which it affirms that the Certificate of Completion has been issued (and, accordingly, that the foregoing provisions of Section
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Effect of Certificate of Completion. (i) For purposes of this Agreement only, the Agency’s issuance of a Certificate of Completion shall be a conclusive determination of the Complete Construction of the applicable Improvements as required under this Agreement, including with respect to the obligations to Commence Construction and Complete Construction of such Improvements in accordance with the Construction Documents. (ii) A Certificate of Completion will not constitute evidence of compliance with or satisfaction of any obligation of Vertical Developer to any holder of a mortgage, or any insurer of a mortgage securing money loaned to finance the Improvements, or any part thereof. (iii) A Certificate of Completion is not in lieu of a Certificate of Occupancy, which still must be obtained from the City. (iv) Following recordation of the Certificate of Completion, any Person then owning or thereafter purchasing, leasing or otherwise acquiring any interest in the Property or any Portion (including all Improvements thereon) shall not, solely by virtue of such ownership, purchase, lease, or acquisition, or by virtue of such Person’s actual or constructive knowledge of the contents of this Agreement, incur any obligation or liability under this Agreement for the Construction of Improvements on the Property or such Portion for which the Certificate of Completion was recorded. (v) Without limiting Section 19.35, the Agency’s issuance of any Certificate of Completion shall not relieve Vertical Developer or any other Person from the Redevelopment Requirements (other than the Complete Construction of the Improvements described in the Certificate of Completion), obligations or restrictions recorded against the Property, applicable building, fire or other construction code requirements, the applicable subdivision code of the City, or other applicable laws.
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Effect of Certificate of Completion. The Certificate of Completion shall constitute a recordable determination of the satisfaction and termination of the conditions, terms and the Covenants and Restrictions contained in this Agreement, the Redevelopment Law and in the Redevelopment Plan with respect to the Redeveloper’s obligation to construct the Project within the dates contained in the applicable Project Schedule. Upon issuance of a Certificate of Completion for the Project, or a portion thereof, the conditions determined to exist at the time the Project Site, or portion thereof, was determined to be "an area in need of redevelopment" shall be deemed to no longer exist, and the land and the Project Improvements constructed upon the Project Site shall no longer be subject to eminent domain. If a Certificate of Completion is issued for less than all of the Project Site or Project Improvements, then the balance of the Project Site shall continue to be within a redevelopment area and subject to the Redevelopment Plan. Granting of the Certificate of Completion releases all parties of their rights and obligations under this Agreement as to the Project or part thereof for which the Certificate of Completion is issued.
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Related to Effect of Certificate of Completion

  • Amendment of Certificate In the event this Agreement shall be amended pursuant to Section 14.1, the General Partner shall amend the Certificate to reflect such change if it deems such amendment of the Certificate to be necessary or appropriate.

  • Effect of Certificates Any certificate signed by any officer of the Company and delivered to you or to counsel for the Underwriters shall be deemed a representation and warranty by the Company to each Underwriter as to the matters covered thereby.

  • Execution of Certificates The Trustee has caused to be executed, countersigned and delivered to or upon the order of the Company, in exchange for the Mortgage Loans, the Certificates in authorized denominations evidencing the entire ownership of the Trust Fund.

  • Cancellation of Certificate of Limited Partnership Upon the completion of the distribution of Partnership cash and property as provided in Section 12.4 in connection with the liquidation of the Partnership, the Certificate of Limited Partnership and all qualifications of the Partnership as a foreign limited partnership in jurisdictions other than the State of Delaware shall be canceled and such other actions as may be necessary to terminate the Partnership shall be taken.

  • Designation of Certificates Designation of Startup Day and Latest Possible Maturity Date................................ Section 2.06 Optional Substitution of Mortgage Loans...........................

  • Form of Certificates Every holder of stock in the Corporation shall be entitled to have a certificate signed, in the name of the Corporation (i) by the Chief Executive Officer or a Vice President and (ii) by the Treasurer or an Assistant Treasurer, or the Secretary or an Assistant Secretary of the Corporation, certifying the number of shares owned by him in the Corporation.

  • Replacement of Certificates If (i) any Certificate is mutilated and is surrendered to the Trustee or any Authenticating Agent or (ii) the Trustee or any Authenticating Agent receives evidence to its satisfaction of the destruction, loss or theft of any Certificate, and there is delivered to the Trustee or the Authenticating Agent such security or indemnity as may be required by them to save each of them harmless, then, in the absence of notice to the Depositor and any Authenticating Agent that such destroyed, lost or stolen Certificate has been acquired by a bona fide purchaser, the Trustee shall execute and the Trustee or any Authenticating Agent shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Certificate, a new Certificate of like tenor and Certificate Principal Amount. Upon the issuance of any new Certificate under this Section 3.05, the Trustee and Authenticating Agent may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee or the Authenticating Agent) connected therewith. Any replacement Certificate issued pursuant to this Section 3.05 shall constitute complete and indefeasible evidence of ownership in the applicable Trust Fund, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time.

  • Cancellation of Certificate of Formation Upon the completion of the distribution of Company cash and property in connection the dissolution of the Company, the Certificate of Formation and all qualifications of the Company as a foreign limited liability company in jurisdictions other than the State of Delaware shall be canceled and such other actions as may be necessary to terminate the Company shall be taken.

  • DECLARATION OF TRUST; ISSUANCE OF CERTIFICATES Section 2.01 Creation and Declaration of Trust Fund; Conveyance of Mortgage Loans. Concurrently with the execution and delivery of this Agreement, the Depositor does hereby sell, transfer, assign, set over, deposit with and otherwise convey to the Trustee, without recourse, subject to Sections 2.02 and 2.04, in trust, all right, title and interest of the Depositor in and to the Trust Fund consisting of: (i) the Mortgage Loans, including the Mortgage Notes, the Mortgages, and the right to all payments of principal and interest received on or with respect to the Mortgage Loans after the Cut-off Date (other than Scheduled Payments due on or before such date), and all such payments due after such date but received on or prior to such date and intended by the related Mortgagors to be applied after such date; (ii) all of the Depositor’s right, title and interest, if any, in and to all amounts from time to time credited to and the proceeds of the Distribution Account, the Master Servicer Collection Account, any Custodial Accounts or any Escrow Account established with respect to the Mortgage Loans; (iii) with respect to the Mortgage Loans, to the extent set forth in the Acknowledgements, the Depositor’s rights under the Purchase Agreements and the Servicing Agreements and all of the Depositor’s rights under the Mortgage Loan Purchase and Sale Agreement; (iv) all of the Depositor’s right, title and interest, if any, in REO Property and the proceeds thereof; (v) all of the Depositor’s rights under any Insurance Policies related to the Mortgage Loans; and (vi) the Depositor’s security interest in any collateral pledged to secure the Mortgage Loans, including the Mortgaged Properties (collectively, the “Trust Fund”); and the Trustee declares that, subject to the Custodian’s review provided for in Section 2.02, it has received and shall hold the Trust Fund, as trustee, in trust, for the benefit and use of the Holders of the Certificates and for the purposes and subject to the terms and conditions set forth in this Agreement, and, concurrently with such receipt, has caused to be executed, authenticated and delivered to or upon the order of the Depositor, in exchange for the Trust Fund, all of the Certificates in the authorized denominations specified by the Depositor pursuant to Section 3.01(b). The foregoing sale, transfer, assignment, set-over, deposit and conveyance does not and is not intended to result in the creation or assumption by the Trustee of any obligation of the Depositor, the Seller or any other Person in connection with the Mortgage Loans or any other agreement or instrument relating thereto except as specifically set forth therein. Notwithstanding anything to the contrary contained herein, the parties hereto acknowledge that the functions of the Trustee with respect to the custody, acceptance and inspection of the Trustee Mortgage Files and release of Mortgage Documents, and preparation and delivery of the certifications relating to the Trustee Mortgage Files shall be performed by the Custodian pursuant to the terms and conditions of the Custodial Agreement. In addition, the Trustee is hereby directed to execute, not in its individual capacity but solely as Trustee hereunder, and deliver the Acknowledgements and the Custodial Agreement. The Master Servicer, the Depositor, the Securities Administrator and the Certificateholders (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing and delivering the Custodial Agreement and the Acknowledgements solely in its capacity as Trustee and not in its individual capacity. In connection with such sale, transfer and assignment of the Mortgage Loans, the Depositor does hereby deliver to, and deposit with, or cause to be delivered to and deposited with, the Custodian acting on the Trustee’s behalf, the Trustee Mortgage Files.

  • Retention of Certificates Any certificates representing unvested Shares shall be held by the Company. If unvested Shares are held in book entry form, the undersigned agrees that the Company may give stop transfer instructions to the depository to ensure compliance with the provisions hereof.

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