Manner of Project Completion Clause Samples
Manner of Project Completion. (a) The Lessee will complete the Project Work, or cause the Project Work to be completed, by the Completion Deadline, in a first class workmanlike manner, free of defects in materials and workmanship (including latent defects); provided, however, the Lessee may revise the scope of the Project Work, subject to the prior written consent of the Agency (which consent shall not be unreasonably withheld, delayed or conditioned). The Lessee will cause the Project Completion Date to occur by the Completion Deadline.
(b) In undertaking the Project Work, the Lessee shall take such action and institute such proceedings as shall be necessary to cause and require all contractors, manufacturers and suppliers to complete their agreements relating to the Project Work in accordance with the terms of the contracts therefor including the correction of any defective work.
(c) The cost of the Project Work shall be financed in accordance with the Project Finance Plan. In the event moneys derived from the Mortgage Loans, if any, are not sufficient to pay the costs necessary to complete the Project Work in full, the Lessee shall pay or cause to be paid that portion of such costs of the Project Work as may be necessary to complete the Project Work and shall not be entitled to any reimbursement therefor from the Agency, nor shall the Lessee be entitled to any diminution of the Rental Payments to be made under this Agreement.
(d) The Lessee shall pay (i) all of the costs and expenses in connection with the preparation of any instruments of conveyance, the delivery thereof and of any instruments and documents relating thereto and the filing and recording of any such instruments of conveyance or other instruments or documents, if required, (ii) all taxes and charges payable in connection with the vesting with the Agency of a leasehold estate in the Facility Realty and title to the Facility Personalty, or attributable to periods prior to such vesting, as set forth in Sections
3.1 and 3.2, and (iii) all shipping and delivery charges and other expenses or claims incurred in connection with the Project Work.
(e) The Lessee will perform or cause to be performed the Project Work in accordance with all applicable Legal Requirements and with the conditions and requirements of all policies of insurance with respect to the Facility and the Project Work. Promptly upon finishing of the Project Work and the completion of the Project Improvements, the Lessee will obtain or cause to be obtained all ...
Manner of Project Completion. The Lessee shall (i) commence acquisition, renovation, repair and installation of Facility Personalty at the Facility Realty (such commencement shall include applying for any necessary permits required to proceed with the Project) within twelve (12) months of the Commencement Date; (ii) notify the Agency if it has not commenced the Project work within such time frame, and (iii) complete the Project in accordance with all Legal Requirements no later than the second anniversary of the Commencement Date, in a first class workmanlike manner, free of defects in materials and workmanship.
Manner of Project Completion. (a) The Lessee shall (i) complete, or cause to be completed, at least twenty percent (20%) of the Project Work (calculated based on actual expenditures of hard costs of the Project) within two (2) years after the Commencement Date, and (ii) complete the Project Work, or cause the Project Work to be completed, by the Completion Deadline, in each case, subject to delays in the Project Work (A) caused by “force majeure”, as such term is defined in Section 11.1 hereof and/or (B) in connection with any default by Lessee hereunder, subject to diligent proceedings to cure such default and to complete the Project Work by any lender or mortgagee of Lessee or any joint venture partner of the direct and/or indirect owners of Lessee; provided, however, that subject to the provisions of Section 3.3(h) hereof, the Lessee may revise the scope of the Project Work in the ordinary course of construction.
Manner of Project Completion. (a) The Project Work to be to be performed by the Lessee shall result in the achievement of the following Construction Milestones in accordance with this Section 3.3:
(i) Substantial Completion of the renovation, construction and equipping of the Base Building Systems of not less than (A) 231,000 RSF (or the equivalent of nine (9) entire floors) of the Project Building of Lab Ready Space (inclusive of Functional Lab Space), or (B) 205,000 RSF (or the equivalent of eight (8) entire floors) of the Project Building of Lab Ready Space (inclusive of Functional Lab Space) if Deerfield exercises the Expansion Option, all in accordance with the Approved Design Development Documents (the “First Construction Milestone”).
(ii) Substantial Completion of the furnishing, equipping and outfitting of not less than 51,800 RSF (or the equivalent of two (2) floors) of the Project Building of the Lab Ready Space in clause (a)(i) above as Functional Lab Space all in accordance with the Approved Design Development Documents (the “Second Construction Milestone”).
(iii) Substantial Completion of the furnishing, equipping and outfitting of (A) no less than 51,800 RSF (or the equivalent of two (2) entire floors) of the Project Building for Deerfield Life Science Offices (the “Minimum Deerfield HQ RSF”), and
Manner of Project Completion. (a) The Lessee shall (i) commence construction of the Project Improvements on the Land, which Project Improvements shall contain a minimum of 1,021,077 aggregate gross square feet (i.e., the aggregate sum of the gross areas of the several floors of the Building, both above and below grade, measured from the exterior faces of exterior walls or from the center lines of walls separating the two buildings comprising the Building, substantially in accordance with (w) the Deed, (x) the Approved Schematics, (y) the ULURP Approval, and (z) any other approval of the City Planning Commission in connection with the development of the Premises,
Manner of Project Completion. (a) The Lessee will complete the Project Work, or cause the Project Work to be completed, by the Completion Deadline, in a first class workmanlike manner, free of defects in materials and workmanship (including latent defects). The Lessee shall not materially revise the scope of the Project Work without the prior written consent of the Agency. The Lessee will cause the Project Completion Date to occur by the Completion Deadline.
(b) In undertaking the Project Work, the Lessee shall take such action and institute such proceedings as shall be necessary to cause and require all contractors, manufacturers and suppliers to complete their agreements relating to the Project Work in accordance with the terms of the contracts therefor including the correction of any defective work.
(c) The cost of the remaining Project Work shall be financed in accordance with the Project Finance Plan.
(d) The Lessee shall pay (i) all of the costs and expenses in connection with the preparation of any instruments of conveyance, the delivery thereof and of any instruments and documents relating thereto and the filing and recording of any such instruments of conveyance or other instruments or documents, if required, (ii) all taxes and charges payable in connection with the vesting with the Agency of a leasehold estate in the Facility Realty and title to the Facility Personalty, or attributable to periods prior to such vesting, as set forth in Sections 3.1 and 3.2, and