FUTURE CONSTRUCTION PROJECTS BY TENANT Sample Clauses

FUTURE CONSTRUCTION PROJECTS BY TENANT. Tenant covenants and agrees that Landlord shall be provided with the right (but not the obligation) to finance future capital projects of Tenant, its key principals and Guarantors at the Property and elsewhere on similar terms to this Lease or as otherwise mutually agreed upon by the parties, with all such leases being cross collateralized and cross defaulted with this Lease, the Guarantees and all other leases Landlord has entered with Tenant. During the Term of this Lease, Tenant, its key principals and Guarantors covenant and agree that they will NOT own, operate or invest in a facility that is reasonably likely to have a negative impact on the performance of the Property or their business during the Term of this Lease unless the parties mutually agree that the operations at this Property support the need for additional facilities. The Guarantors and key principals of Tenant will dedicate sufficient and reasonable time and effort and their professional attention on Tenant’s activities on the Property in priority to other professional activities until Tenant has: (A) reached stabilization of operations so that all expenses including its Base Rent, operating expenses and all other business expenses are being paid on a current and timely basis, and (B) met the Working Capital Reserve (defined below) and such funds are being held in escrow at Tenant’s bank.
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FUTURE CONSTRUCTION PROJECTS BY TENANT. Tenant covenants and agrees that Landlord shall be provided with the right (but not the obligation) to finance future capital projects of Tenant, at the Property on similar terms to this Lease or as otherwise mutually agreed upon by the parties. During the Term of this Lease, Tenant, will NOT own, operate or invest in a facility that is reasonably likely to have a negative impact on the performance of the Property or their business during the Term of this Lease unless the parties mutually agree that the operations at this Property support the need for additional facilities.
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FUTURE CONSTRUCTION PROJECTS BY TENANT. Tenant covenants and agrees that Landlord shall be provided with the right (but not the obligation), subject to the terms outlined below, to finance future capital projects related to cannabis cultivation of the Tenant Parties at the Property and elsewhere on substantially similar terms as this Lease or as otherwise mutually agreed upon by the parties, with all such leases being cross collateralized and cross defaulted with this Lease, the Guarantees and all other leases Landlord has entered with Tenant (the “Right of Finance”). The Right of Finance shall not apply to any equity raise by the Tenant Parties and shall not apply to the Tenant Parties’ future capital projects for cannabis retail, processing or distribution so long as such projects do not include cannabis cultivation. Unless and until Landlord elects not to exercise its Right of Finance, or Landlord, following exercise, is unable or to provide financing in a reasonable time or withdraws its exercise, Tenant is entitled to seek alternative financing for that project. During the Term of this Lease, the Tenant Parties covenant and agree that they will NOT own, operate or invest in a facility that is reasonably likely to have a negative impact on the performance of the Property or their business during the Term of this Lease unless the parties mutually agree that the operations at this Property support the need for additional facilities. During the Term the Tenant Parties shall not own or develop any cannabis related business or operation, including retail, processing and distribution, except that which is directly owned by one or more of the Tenant Parties. The Tenant Parties will dedicate sufficient and reasonable time and effort and their professional attention on the activities of the Tenant Parties on the Property in priority to other professional activities until Tenant has reached stabilization of operations so that all expenses including its Base Rent, operating expenses and all other business expenses are being paid on a current and timely basis. If the Tenant Parties desire to develop the Option Property during the Term, and the development is not financed by Landlord, the operators on the Property shall only be the Tenant Parties or wholly owned subsidiaries of the Tenant Parties.
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Related to FUTURE CONSTRUCTION PROJECTS BY TENANT

  • Project Construction The Contractor agrees to provide continuous on-site supervision on each Job Order, while progress on the project is being accomplished. The Contractor’s Project Manager will ensure: 1. Coordination and providing supervision to all Subcontractor and workers; 2. Posting of the prevailing wage scale; 3. Maintaining a copy of the Contractors safety program manual made available to all construction personnel; 4. Conducting weekly on-site safety meetings; 5. Completing the daily labor and construction progress log on a daily basis and submit copies to the County on a daily basis. Copies of the previous day’s reports must be submitted by 9:00AM of the following day. a. Daily labor log is to include a listing of Subcontractor(s) and a count of workers by trade providing services for the day. b. Construction progress log is to include a narrative of the Work provided by trade(s). Narrative agrees to include the various areas of the jobsite where Work was performed and any problems or conditions that were encountered. c. In the event the Contractor fails to provide a daily log and/or construction progress log, the County may impose damages against the Contractor in the amount of fifty dollars ($50.00) for each log and deduct from the Contractor’s payment request, for each day the Contractor does not provide the documentation. 6. County may suspend Contractor operations if no Contractor Superintendent is observed. All delays caused by the suspension will be the responsibility of the Contractor. No time extension or claims for cost(s) associated with the suspension will be granted by the County.

  • Commencement and Completion of Construction Subject to Unavoidable Delays, Developer shall cause construction of the Minimum Improvements to be undertaken and completed: (i) by no later than June 1, 2020; or (ii) by such other date as the parties shall mutually agree upon in writing. Time lost as a result of Unavoidable Delays shall be added to extend this date by a number of days equal to the number of days lost as a result of Unavoidable Delays. All work with respect to the Minimum Improvements shall be in conformity with the Construction Plans approved by the building official or any amendments thereto as may be approved by the building official. Developer agrees that it shall permit designated representatives of the City, upon reasonable notice (which does not have to be written), to enter upon the Development Property during the construction of the Minimum Improvements to inspect such construction and the progress thereof.

  • Contract Construction 6.27.1 The parties acknowledge that each party and its counsel have reviewed this CONTRACT and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this CONTRACT or any amendment or exhibits hereto.

  • Pre-Construction Phase Employer’s Liability, Workers’ Compensation, Comprehensive General Liability and Comprehensive Automobile Liability in the amounts as set forth in the UGSC.

  • ADDITIONAL CONSTRUCTIONS The Promoter undertakes that it has no right to make additions or to put up additional structure(s) anywhere in the Project after the building plan has been approved by the competent authority(ies) except for as provided in the Act.

  • PRE-CONSTRUCTION PHASE FEE The Pre-Construction Phase Fee is the total compensation payable to Contractor for the performance of Pre-Construction Phase Services, except for Additional Pre-Construction Phase Services approved in advance and in writing by Owner. The Pre-Construction Phase Fee shall be a lump sum amount based on the AACC established in this Agreement. 6.1 Except as specifically allowed by Owner, Contractor shall not be entitled to any increase in the Pre-Construction Phase Fee for any costs, expenses, liabilities or other obligations arising from the performance of Pre-Construction Phase Services. 6.2 Costs associated with the following items are specifically, but not exclusively, included in the establishment of the Pre-Construction Phase Fee: profit and profit sharing; general overhead; salaries and labor; housing and relocation; estimating, scheduling and information management systems and software; contract administration; office expenses; printing and copying; consulting fees; legal or accounting fees; cost of money; taxes; insurance premiums and deductibles; bond costs; purchase or rental of equipment; utilities; travel; per diem; fines or penalties; and damage awards. 6.3 If the scope of the Pre-Construction Phase Services is changed materially, the Pre- Construction Phase Fee shall be equitably adjusted. If the AACC is changed materially before acceptance of the GMP Proposal, the Pre-Construction Phase Fee shall be adjusted in writing in proportion to the change in the AACC. There shall be no adjustments in the Pre-Construction Phase Fee following acceptance of the GMP Proposal. 6.4 For Additional Pre-Construction Phase Services that are approved in advance and in writing by Owner, Contractor shall be entitled to additional compensation computed as follows: 6.4.1 A pre-established lump sum amount; or 6.4.2 The hourly cost of Contractor’s employees or consultants who actually perform the Additional Services based on the employee’s Worker Wage Rate or prorated Monthly Rate plus the actual cost of allowable expenses incurred in the performance of the Additional Pre-Construction Phase Services, plus an overhead and profit markup of ten percent (10%) of the total cost; or 6.4.3 As otherwise agreed in advance and in writing.

  • New Construction If this contract is for a Property that is newly constructed and the new construction option is selected, coverage begins on day one (1) of month thirteen

  • Construction of Project 11.1.1 Developer agrees to cause the Project to be developed, constructed, and installed in accordance with the terms hereof and the Construction Provisions set forth in Exhibit D, including those things reasonably inferred from the Contract Documents as being within the scope of the Project and necessary to produce the stated result even though no mention is made in the Contract Documents.

  • Suspension of unsafe Construction Works (i) Upon recommendation of the Authority’s Engineer to this effect, the Authority may by notice require the Contractor to suspend forthwith the whole or any part of the Works if, in the reasonable opinion of the Authority’s Engineer, such work threatens the safety of the Users and pedestrians. (ii) The Contractor shall, pursuant to the notice under Clause 11.17 (i), suspend the Works or any part thereof for such time and in such manner as may be specified by the Authority and thereupon carry out remedial measures to secure the safety of suspended works, the Users and pedestrians. The Contractor may by notice require the Authority’s Engineer to inspect such remedial measures forthwith and make a report to the Authority recommending whether or not the suspension hereunder may be revoked. Upon receiving the recommendations of the Authority’s Engineer, the Authority shall either revoke such suspension or instruct the Contractor to carry out such other and further remedial measures as may be necessary in the reasonable opinion of the Authority, and the procedure set forth in this Clause 11.17 shall be repeated until the suspension hereunder is revoked. (iii) Subject to the provisions of Clause 21.6, all reasonable costs incurred for maintaining and protecting the Works or part thereof during the period of suspension (the “Preservation Costs”), shall be borne by the Contractor; provided that if the suspension has occurred as a result of any breach of this Agreement by the Authority, the Preservation Costs shall be borne by the Authority. (iv) If suspension of Works is for reasons not attributable to the Contractor, the Authority’s Engineer shall determine any Time Extension to which the Contractor is reasonably entitled.

  • 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.

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