Extension of Qualified Project Period. Notwithstanding any other provision herein, the Qualified Project Period shall not expire earlier than, and the requirements of this Section 5 shall be in effect until the date that is the later of (i) seventy-five (75) years from the Closing Date or (ii) the end of the Life of the Project, provided, however, that if the Life of the Project is less than 75 years due to casualty, then the term of the Life of the Project controls; provided that certain provisions of this Section 5 shall survive and remain in full force and effect following the end of the Qualified Project Period, as specified in Section 11 hereof.
Appears in 2 contracts
Samples: Regulatory Agreement and Declaration of Restrictive Covenants, Regulatory Agreement and Declaration of Restrictive Covenants
Extension of Qualified Project Period. Notwithstanding any other provision herein, the Qualified Project Period shall not expire earlier than, and the requirements of this Section 5 shall be in effect until the date that is the later of (i) seventyfifty-five (7555) years from after the Closing Date or (ii) the end of the Life of the ProjectDate; subject to those certain provisions, provided, howeverif any, that if the Life of the Project is less than 75 years due to casualty, then the term of the Life of the Project controls; provided that certain provisions of this Section 5 shall survive and remain in full force and effect following the end of the Qualified Project Period, as specified in Section 11 hereof.
Appears in 1 contract
Samples: Regulatory Agreement and Declaration of Restrictive Covenants
Extension of Qualified Project Period. Notwithstanding any other provision herein, the Qualified Project Period shall not expire earlier than, and the requirements of this Section 5 shall be in effect until the date that is the later of (i) seventy-five (75) years from after the Closing Date or (ii) the end of the Life of the ProjectDate; subject to those certain provisions, provided, howeverif any, that if the Life of the Project is less than 75 years due to casualty, then the term of the Life of the Project controls; provided that certain provisions of this Section 5 shall survive and remain in full force and effect following the end of the Qualified Project Period, as specified in Section 11 hereof.
Appears in 1 contract
Samples: Regulatory Agreement and Declaration of Restrictive Covenants
Extension of Qualified Project Period. Notwithstanding any other provision herein, the Qualified Project Period shall not expire earlier than, and the requirements of this Section 5 shall be in effect until the date that is the later of (i) seventyfifty-five (7555) years from after the Closing Date or (ii) the end of the Life of the Projectclosing Date; subject to those certain provisions, provided, howeverif any, that if the Life of the Project is less than 75 years due to casualty, then the term of the Life of the Project controls; provided that certain provisions of this Section 5 shall survive and remain in full force and effect following the end of the Qualified Project Period, as specified in Section 11 hereof.
Appears in 1 contract
Samples: Regulatory Agreement and Declaration of Restrictive Covenants
Extension of Qualified Project Period. Notwithstanding any other provision herein, the Qualified Project Period shall not expire earlier than, and the requirements of this Section 5 shall be in effect until the date that is the later of (i) seventy-five (75) years from after the Closing Date or and (ii) the end of the Life of the Project; subject to those certain provisions, providedif any, however, that if the Life of the Project is less than 75 years due to casualty, then the term of the Life of the Project controls; provided that certain provisions of this Section 5 shall survive and remain in full force and effect following the end of the Qualified Project Period, Period as specified in Section 11 12 hereof.
Appears in 1 contract
Samples: Regulatory Agreement and Declaration of Restrictive Covenants
