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

  • 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)

  • Construction of Project Purchaser shall (i) perform the Final Assembly Work which is set forth in Exhibit P hereto, (ii) perform all civil works (including roads, grading, maintenance facilities, meteorological towers and other items); (iii) perform all electrical works (including collection lines, Electrical Infrastructure, Transmission Facilities, Interconnection Facilities and other items); (iv) provide and install a remote terminal unit and cabling to the Substation, meteorological towers, and communications lines for the SCADA System to the Substation; and (v) provide any other items required for the operation of the Project; and

  • 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.

  • Completion of Construction (a) For the purposes of this Agreement, the terms "

  • Complete Agreement; Construction This Agreement, including the Schedules hereto, shall constitute the entire agreement between the Parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments and writings with respect to such subject matter. In the event of any inconsistency between this Agreement and any Schedule, the Schedule shall prevail. The rights and remedies of the Parties herein provided shall be cumulative and in addition to any other or further remedies provided by law or equity.

  • Construction of Tenant Improvements Promptly following approval of the Final TI Working Drawings, Landlord shall apply for and use reasonable efforts to obtain the necessary permits and approvals to allow construction of Landlord’s TI Work. Upon receipt of such permits and approvals, Landlord shall, at Tenant’s expense (subject to the application of the Tenant Improvement Allowance provided in this Workletter, and subject to any other applicable provisions of the Lease or of this Workletter expressly making any specific item of expense or cost the responsibility of Landlord), diligently construct and complete Landlord’s TI Work substantially in accordance with the Approved TI Plans, subject to Unavoidable Delays and Tenant Delays (if any). Such construction shall be performed in a good and workmanlike manner and shall conform to all applicable governmental codes, laws and regulations in force at the time such work is completed. Without limiting the generality of the foregoing, Landlord shall be responsible for compliance of Landlord’s TI Work with the requirements of the Americans with Disabilities Act and all similar or related requirements pertaining to access by persons with disabilities, but nothing in this sentence shall be construed to make Landlord responsible for bearing the cost of any such compliance, to the extent the compliance work is reasonably attributable to or related to the particular nature or design of the Tenant Improvements or is for any other reason expressly made Tenant’s cost or responsibility under any applicable provision of the Lease or of this Workletter. Landlord shall have the right, in its sole discretion, to decide whether and to what extent to use union labor on or in connection with Landlord’s Work, and shall use the TI General Contractor to construct all of Landlord’s TI Work. Landlord and Tenant shall each have a right to approve all subcontractors engaged in connection with the construction of the Tenant Improvements and to review and approve all competitive bids for any elements of the Tenant Improvements, such approval in each instance not to be unreasonably withheld, conditioned or delayed by either party.

  • Construction of the Tenant Improvements Landlord shall construct the Tenant Improvements in accordance with this exhibit and the construction contract to be executed by Landlord and its contractor(s). The construction contract for constructing the Tenant Improvements and the contractor(s) to perform the work shall be approved and/or selected, as the case may be, by Landlord at its sole and absolute discretion without the consent of Tenant.

  • 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.

  • Performance of Landlords Work (a) Definition of Landlord’s Work. As used herein, “

  • Construction of Tenant Improvements by Tenants Agents Construction Contract; Cost Budget. Prior to Tenant's execution of ---------------------------------- the construction contract and general conditions with Contractor (the "Contract"), Tenant shall submit the Contract to Landlord for its approval, which approval shall not be unreasonably withheld or delayed. Prior to the commencement of the construction of the Tenant Improvements, and after Tenant has accepted all bids for the Tenant Improvements, Tenant shall provide Landlord with a detailed breakdown, by trade, of the final costs to be incurred, or which have been incurred, as set forth more particularly in Sections 2.2.1.1 through ---------------- 2.2.1.8 above, in connection with the design and construction of the Tenant ------- Improvements to be performed by or at the direction of Tenant or the Contractor (which costs form a basis for the amount of the Contract, if any (the "Final Costs"). Prior to the commencement of construction of the Tenant Improvements, Tenant shall supply Landlord with a completion bond in an amount equal to the Final Costs to ensure Landlord of the completion of the Tenant Improvements.

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