Limitation on Construction Overage Sample Clauses

Limitation on Construction Overage. Notwithstanding anything to ---------------------------------- the contrary contained in this Work Letter or in the Lease, if the Construction Overage exceeds an amount (the "Maximum Construction Overage") equal the product of (i) the estimated cost for Work performed pursuant to the Construction Contract as set forth in the Construction Contract multiplied by (ii) one tenth (0.1), then the sole remedy of Tenant for such Construction Overage shall be the right to deliver a notice to Landlord (a "Construction Overage Termination Notice") electing to terminate the Lease effective upon the date occurring five (5) business days following receipt by Landlord of such Construction Overage Termination Notice. A Construction Overage Termination Notice must be delivered by Tenant to Landlord, if at all, not later than five (5) business days following the date on which Tenant has written notice that the Construction Overage exceeds the Maximum Construction Overage. Within five (5) business days following receipt by Landlord of such Construction Overage Termination Notice, Landlord shall have the right, in its sole and absolute discretion, to deliver a "Construction Overage Fixed Rent Notice," as that term is defined below, to Tenant, in which event Tenant shall have no right to terminate the Lease in accordance with this Section 22 and the Construction Overage Termination Notice shall be of no force or effect; provided that, if Landlord does not deliver a Construction Overage Fixed Rent Notice to Tenant during such five (5) business day period, then the Lease shall terminate in accordance with such Construction Overage Termination Notice. As used herein, a "Construction Overage Fixed Rent Notice" shall mean a written notice delivered by Landlord to Tenant pursuant to which Landlord agrees that the portion of Annual Base Rent which is determined by the cost of the work performed pursuant to the Construction Contract will not exceed the amount which such portion of the Annual Base Rent would be if the Construction Overage were equal to the Maximum Construction Overage, and the Annual Base Rent shall thereafter be adjusted in accordance with Section 22(a), above. Upon any termination of the Lease as set forth in this Section 22(b), Landlord and Tenant shall be relieved from any and all liability to each other resulting under the Lease or this Work Letter, except that Landlord shall return to Tenant the L/C and any portion of the Over-Allowance Amount which has not been ...
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Related to Limitation on Construction Overage

  • 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.

  • Governing 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 laws of the State of New York. The section headings in this Agreement have been inserted as a matter of convenience of reference and are not a part of this Agreement.

  • DAF Construction The DAF shall be designed and constructed in accordance with Good Utility Practice. Within one hundred twenty (120) Calendar Days after the Commercial Operation Date, unless the Developer and Connecting Transmission Owner agree on another mutually acceptable deadline, the Developer shall deliver to the Connecting Transmission Owner and NYISO “as- built” drawings, information and documents for the DAF, such as: a one-line diagram, a site plan showing the Large Generating Facility and the DAF, plan and elevation drawings showing the layout of the DAF, a relay functional diagram, relaying AC and DC schematic wiring diagrams and relay settings for all facilities associated with the Developer’s step-up transformers, the facilities connecting the Large Generating Facility to the step-up transformers and the DAF, and the impedances (determined by factory tests) for the associated step-up transformers and the Large Generating Facility. The Developer shall provide to, and coordinate with, Connecting Transmission Owner and NYISO with respect to proposed specifications for the excitation system, automatic voltage regulator, Large Generating Facility control and protection settings, transformer tap settings, and communications, if applicable.

  • ICIF Construction The ICIF shall be designed and constructed in accordance with Good Utility Practice. Within one hundred twenty (120) Calendar Days after the Commercial Operation Date, unless the Parties agree on another mutually acceptable deadline, Interconnection Customer shall deliver to Transmission Provider and Transmission Owner “as-built” drawings, information and documents for the ICIF, such as: a one-line diagram, a site plan showing the Generating Facility and the ICIF, plan and elevation drawings showing the layout of the ICIF, a relay functional diagram, relaying AC and DC schematic wiring diagrams and relay settings for all facilities associated with the Interconnection Customer’s step-up transformers, the facilities connecting the Generating Facility to the step-up transformers and the ICIF, and the impedances (determined by factory tests) for the associated step-up transformers and the Generating Facility. Interconnection Customer shall provide Transmission Provider and Transmission Owner with Interconnection Customer’s specifications for the excitation system, automatic voltage regulator, Generating Facility control and protection settings, transformer tap settings, and communications, if applicable.

  • 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.

  • Severability; Construction Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Agreement. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement.

  • Waiver of Rule of Construction Each Party has had the opportunity to consult with counsel in connection with the review, drafting and negotiation of this Agreement. Accordingly, the rule of construction that any ambiguity in this Agreement shall be construed against the drafting Party shall not apply.

  • Liberal Construction The Covenants hereof shall be liberally construed to promote and accomplish the objectives set forth in the Recitals.

  • Construction of Provisions Although certain provisions of this Agreement contain express language which precludes the Servicer's recovery of, or reimbursement for, expenses incurred hereunder, no inference to the contrary shall be drawn from absence of such, or similar, language in any other provision hereof regarding expenses.

  • Completion of Construction Within 60 days of the completion of construction of the Project, Project Owner shall deliver to DoD copies of the FAA form 7460-2 for each ASN, including the final coordinates for each turbine erected.

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