Common use of Major Construction Clause in Contracts

Major Construction. If Borrower intends to engage in any construction, remodeling or demolition project or series of related projects on the Property, other than Approved Projects (as defined below) with respect to the Property, the aggregate cost of which will exceed $750,000 during the term of the Loan, Borrower shall first notify Lender, and such construction project shall be subject to Lender’s approval, which approval shall not be unreasonably withheld. Any proposed construction project submitted in writing to Lender for approval and not disapproved by Lender within thirty (30) days after receipt thereof, shall be deemed to be approved by Lender. For purposes of this Section 3.3(e), “

Major Construction. If Borrower intends to engage in any construction, remodeling or demolition project or series of related projects on the Property, other than Approved Projects (as defined below) with respect to the Property, the aggregate cost of which will exceed $750,000 during the term of the Loan, Borrower shall first notify Lender, and such construction project shall be subject to Lender’s approval, which approval shall not be unreasonably withheld. Any proposed construction project submitted in writing to Lender for approval and not disapproved by Lender within thirty (30) days after receipt thereof, shall be deemed to be approved by Lender. For purposes of this Section 3.3(e), “Approved Projects” shall mean tenant improvements required under the terms of any Lease, except to the extent that such tenant improvements would involve the making of material structural alterations to the affected Property.

Major Construction. If Borrower intends to engage in any construction, remodeling or demolition project or series of related projects on the Property, other than Approved Projects (as defined below) with respect to the Property, the aggregate cost of which will exceed $750,000 1,000,000 during the term of the Loan, Borrower shall first notify Lender, and such construction project shall be subject to Lender’s approval, which approval shall not be unreasonably withheld. Any proposed construction project submitted in writing to Lender for approval and not disapproved by Lender within thirty (30) days after receipt thereof, shall be deemed to be approved by Lender. For purposes of this Section 3.3(e), “

Major Construction. If Borrower intends to engage in any construction, remodeling or demolition project or series of related projects on the Property, other than Approved Projects (as defined below) with respect to the Property, the aggregate cost per Parcel of which will exceed $750,000 during the term of the Loan, Borrower shall first notify Lender, and such construction project shall be subject to Lender’s approval, which approval shall not be unreasonably withheld. Any proposed construction project submitted in writing to Lender for approval and not disapproved by Lender within thirty (30) days after receipt thereof, shall be deemed to be approved by Lender. For purposes of this Section 3.3(e), “