Final Construction Advance Sample Clauses

Final Construction Advance. Unless otherwise permitted by Administrative Agent, Advances for the payment of final amounts due Contractor under the Construction Contract for the payment of final amounts of Soft Costs and Advances for the payment of final amounts due the Proton System Supplier under the Proton System Purchase Agreement at Completion shall not be made until Administrative Agent has received and approved all of the following (in addition to the conditions set forth in Section 2.04) (other than Punch List Items for which Collateral Agent is holding Punch List Items Funds in accordance with Section 2.14 of the Building Loan Agreement):
Sample 1Sample 2
AutoNDA by SimpleDocs
Final Construction Advance. Not later than 11:00 A.M., New York City time, on the Lease Commencement Date, but subject to Sections 2.3(a) and (b) and 3.2 (but not subject to Section 2.3(c) or (d)), (i) an amount equal to the Debt Funding Amount requested by the Company pursuant to the Final Funding Request shall be withdrawn from the Note Proceeds Account and either transferred to the Completion Escrow Account in accordance with Sections 3.1(d) and 3.2 of the Disbursement Agreement or distributed in accordance with Section 3.5(a) of the Disbursement Agreement and (ii) the Owner Participant shall wire transfer an amount, in Dollars and in immediately available funds, equal to the Equity Funding Amount requested by the Company pursuant to the Final Funding Request to the Equity Proceeds Account, which amount shall be withdrawn from the Equity Proceeds Account and either transferred to the Completion Escrow Account in accordance with Sections 3.1(d) and 3.2 of the Disbursement Agreement or distributed in accordance with Section 3.5(a) of the Disbursement Agreement. On the Lease Commencement Date, the Company shall use the proceeds of such Advance to pay, or cause to be paid, all remaining Project Costs, other than amounts representing Punch List items to be completed after the Lease Commencement Date pursuant to Section 6.1.4 of the EPC Contract and any other Project Costs under any other Construction Documents not required to be paid under such Construction Documents until after the Lease Commencement Date and the remaining proceeds of such Advance, which shall be an amount at least equal to the sum of the amounts of such Punch List items and such other Projects Costs, shall have been deposited into the Completion Escrow Account.
Sample 1
Final Construction Advance. The final construction advance hereunder together with the Retainage shall be disbursed only upon compliance with the following requirements (in addition to the requirements for all other disbursements):
Sample 1
Final Construction Advance. The final Construction Advance, including all retainage (except for funds held by Administrative Agent pending completion of so-called “punch list” items of work remaining, as identified by the Borrower and the Contractor and approved by Administrative Agent) shall be made within thirty (30) days after completion of the Improvements as determined by the Consultant (which determination will not be unreasonably withheld or delayed) and, in addition to the conditions set forth in
Sample 1
Final Construction Advance. The final advance to pay for costs covered by the General Contract, including applicable retention, shall also require: (i) a certification that the Improvements are Fully Completed in accordance with this Agreement, the Approved Construction Documents, and all Legal Requirements; (ii) approval of completion by the Inspecting Architect; (iii) a satisfactory "as-built" survey reflecting the location of the Improvements on the Land in accordance with the Plans and Specifications; (iv) receipt of a final Certificate of Occupancy; (v) delivery of full and complete as-built plans certified by Borrower's Architect; (vi) satisfaction of all conditions for final payment under the General Contract; (vii) final lien waivers (which may be conditioned upon receipt of payment) from the General Contractor and each subcontractor and supplier whose contract is in excess of $5,000; (viii) an endorsement to the mortgagee title policy insuring the Mortgage removing any exception for liens arising by reason of unpaid bills or claims for work performed or materials furnished in connection with the Improvements; and (ix) a period of thirty (30) days shall have elapsed after the date of completion of construction of the Improvements.
Sample 1

Related to Final Construction Advance

  • Initial Construction Landlord shall fully construct the base Building in accordance with the preliminary base building plans, including, without limitation, floor plans, elevations and site plan(s) (collectively, the "PBBP") and Base Building Outline Specifications attached hereto as Exhibits B-1 and B-2, respectively (all of such work being collectively referred to as the "Landlord's Work"). In the event of differences between the PBBP or the Landlord's Plans (as hereinafter defined) and the Base Building Outline Specifications, the Base Building Outline Specifications shall govern and control until the Landlord's Plans (as hereinafter defined) are prepared. A complete set of final base Building plans and construction drawings and specifications, such drawings and specifications to include a detail schedule of core base Building finish items such as, but not limited to, carpets, doors, hardware, ceiling grids/tiles, lavatory fixtures, light fixtures, window blinds, lobby finishes and paint/wall coverings (collectively, the "Landlord's Plans") shall be prepared by Landlord, at its sole cost and expense. Landlord and Tenant agree to work together with Landlord's architect, Symmes Maini and McKex Xxxociates, Inc. in order to achieve a design that meets the standard set forth below. Furthermore, Landlord agrees to use good faith and diligent efforts to deliver the Landlord's Plans to Tenant on or before May 1, 2000. Upon receipt, Tenant shall have seven (7) business days to comment upon the Landlord's Plans. Landlord and Tenant shall use reasonable efforts to reach agreement on the Landlord's Plans as soon thereafter as possible. In reaching agreement, Landlord and Tenant shall each approve portions of the Landlord's Plans that are in acceptable form and shall note their respective objections to the portions that are unacceptable to each of them so as to enable Landlord to continue construction and order materials in a timely manner. In the event that Landlord's Plans conform with the PBBP, but Tenant does not approve the Landlord's Plans within seven (7) business days of receipt thereof from Landlord, then the Outside Delivery Date (as hereinafter defined) shall be extended for a number of days equal to the number of Tenant Plan Delay Days, as such term is hereinafter defined. The number of Tenant Plan Delay Days are defined as and shall be calculated by determining the actual number of days as certified by Landlord and its architect that the Term Commencement Date was delayed by such Tenant's failure to approve the Landlord's Plans within the required seven (7) business days. Landlord agrees to provide Tenant with written notice of such determination, such notice to include reasonable detail describing the cause of the delay and the number of Tenant Plan Delay Days as certified by Landlord and its architect. If Tenant and Tenant's Architect (as hereinafter defined)

  • No Construction Loans No Mortgage Loan was made in connection with (i) the construction or rehabilitation of a Mortgage Property or (ii) facilitating the trade-in or exchange of a Mortgaged Property other than a construction-to-permanent loan which has converted to a permanent Mortgage Loan;

  • Neutral Construction The parties to this Agreement agree that this Agreement was negotiated fairly between them at arm's length and that the final terms of this Agreement are the product of the parties' negotiations. Each party represents and warrants that it has sought and received legal counsel of its own choosing with regard to the contents of this Agreement and the rights and obligations affected hereby. The parties agree that this Agreement shall be deemed to have been jointly and equally drafting by them, and that the provisions of this Agreement therefore should not be construed against a party or parties on the grounds that such party or parties drafted or was more responsible for the drafting of any such provision(s).

  • Construction Loan Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties set forth in this Agreement, the Lender has agreed to lend to Borrower and Borrower has agreed to borrow from Lender the lesser of: (i) $27,000,000.00; or (ii) 55% of the Project Costs. Such amount shall be loaned by Lender pursuant to the terms and conditions set forth in this Agreement and the First Supplement to this Agreement.

  • Law; Construction This Agreement and any claim, counterclaim or dispute of any kind or nature whatsoever arising out of or in any way relating to this Agreement (“Claim”), directly or indirectly, shall be governed by, and construed in accordance with, the internal laws of the State of New York.

  • Legal Construction In the event that any one or more of the terms, provisions, or agreements that are contained in this Agreement shall be held by a court of competent jurisdiction to be invalid, illegal, or unenforceable in any respect for any reason, the invalid, illegal, or unenforceable term, provision, or agreement shall not affect any other term, provision, or agreement that is contained in this Agreement and this Agreement shall be construed in all respects as if the invalid, illegal, or unenforceable term, provision, or agreement had never been contained herein.

  • Selection of Architect/Construction Drawings Tenant shall retain an architect/space planner reasonably and mutually agreed upon by Landlord and Tenant (the “Architect”) to prepare the “Construction Drawings,” as that term is defined in this Section 3.1. The Contractor (as that term is defined in Section 4.1 of this Work Letter) shall provide design-build services from qualified, Landlord-approved mechanical, electrical and plumbing contractors for the preparation of plans and engineering working drawings related to the Improvements. Landlord hereby approves Gensler as the Architect if Tenant decides to select them. Tenant shall retain the engineering consultants designated by Landlord (the “Engineers”) to prepare all plans and engineering working drawings relating to the structural, HVAC, lifesafety, and sprinkler work in the Premises, which work is not part of the Base Building, provided that Tenant shall retain the subcontractors designated in Schedule 2 attached hereto for the fire alarm design and programming work (the “Fire Alarm Subcontractor”) and for building management systems (the “BMS Subcontractor”). Landlord hereby approves Gensler as the Engineer if Tenant decides to select them. Should Tenant choose to prepare fully engineered drawings in lieu of the design-build approach described above, then Tenant shall retain the Engineers to prepare all plans and engineering working drawings relating to the mechanical, electrical and plumbing work of the Improvements. The plans and drawings to be prepared by Architect, the design-build contractors (unless Tenant selects the fully engineered drawings approach described above), the Fire Alarm Subcontractor, the BMS Subcontractor and the Engineers hereunder shall be known collectively as the “Construction Drawings.” Landlord hereby approves Gensler and Revel to be the Architect if Tenant selects them. All Construction Drawings shall comply with the drawing format and specifications reasonably determined by Landlord, and shall be subject to Landlord’s reasonable approval. Tenant and Architect shall verify, in the field, the dimensions and conditions as shown on the relevant portions of the Base Building plans, and Tenant and Architect shall be solely responsible for the same, and Landlord shall have no responsibility in connection therewith. Landlord’s review of the Construction Drawings as set forth in this Section 3, shall be for its sole purpose and shall not imply Landlord’s review of the same, or obligate Landlord to review the same, for quality, design, Code compliance or other like matters. Accordingly, notwithstanding that any Construction Drawings are reviewed by Landlord or its space planner, architect, engineers and consultants, and notwithstanding any advice or assistance which may be rendered to Tenant by Landlord or Landlord’s space planner, architect, engineers, and consultants, Landlord shall have no liability whatsoever in connection therewith and shall not be responsible for any omissions or errors contained in the Construction Drawings, and Tenant’s waiver and indemnity set forth in the Lease, as amended, shall specifically apply to the Construction Drawings.

  • Construction Phase During Construction, DESIGN/BUILDER shall provide Engineering and Design Professional Services as necessary to complete the Project.

  • General Construction 20.2.1. Binding Nature.............................................. 20.2.2. Entire Agreement............................................ 20.2.3. Governing Law............................................... 20.2.4. Indulgences Not Waivers..................................... 20.2.5. Titles Not to Affect Interpretation......................... 20.2.6.

  • Construction, Etc Each covenant contained herein shall be construed (absent express provision to the contrary) as being independent of each other covenant contained herein, so that compliance with any one covenant shall not (absent such an express contrary provision) be deemed to excuse compliance with any other covenant. Where any provision herein refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person. For the avoidance of doubt, all Schedules and Exhibits attached to this Agreement shall be deemed to be a part hereof.

Time is Money Join Law Insider Premium to draft better contracts faster.