Monthly Construction Progress Report Clause Samples
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Monthly Construction Progress Report. On or before the last Business Day of any calendar month during the Construction Period, a report executed by a Borrower’s Authorized Representative that:
(A) specifies the amount of Total Project Costs expended since the Effective Date as well as during the preceding calendar month and the amount of Total Project Costs estimated to be required to complete the Project;
(B) provides a demonstration that the Borrower has sufficient funds (including funds on hand and funds obtainable without undue delay or conditions that cannot reasonably be satisfied by the Borrower as and when such funds are needed) to complete the Project;
(C) provides an assessment of the overall construction progress of the Project since the date of the last report and since the Effective Date, together with an assessment of how such progress compares to the Construction Schedule;
(D) specifies the most recent projections for the Substantial Completion Date as compared to the Projected Substantial Completion Date specified in the Financial Plan most recently approved by the TIFIA Lender;
(E) provides a detailed description of all material problems (including actual and anticipated cost and/or schedule overruns, if any) encountered or anticipated in connection with the construction of the Project since the date of the last report, together with an assessment of how such problems may impact the Construction Schedule and the meeting of critical dates thereunder and a detailed description of the proposed solutions to any such problems;
(F) specifies the delivery status of major equipment and the effect, if any, that the anticipated delivery dates of such equipment has on the overall Construction Schedule;
(G) specifies any proposed or pending change orders;
(H) specifies any material changes or deviations from the Borrower’s land procurement plans or schedule;
(I) includes a copy of each report delivered by a Construction Contractor to the Borrower that has not previously been delivered to the TIFIA Lender in a prior report delivered pursuant to this Section 23(b)(i) (Monthly Construction Progress Report); and
(J) provides a discussion or analysis of such other matters related to the Project as the TIFIA Lender may reasonably request. The Borrower shall respond, and use commercially reasonable efforts to cause the Construction Contractors to respond, to the TIFIA Lender’s inquiries regarding such report, the construction of the Project and any Construction Contractor’s performance of its ob...
Monthly Construction Progress Report. On or before the last Business Day of any calendar month during the Construction Period, a report executed by a Borrower’s Authorized Representative (A) of the amount of Project Costs expended since the Effective Date as well as during the preceding calendar month and the amount of Project Costs estimated to be required to complete the Project, (B) providing an assessment of the overall construction progress of the Project since the date of the last report and since the Effective Date, together with an assessment of how such progress compares to the Construction Schedule, (C) specifying the projected Substantial Completion Date, (D) providing a detailed description of all material problems (including actual and anticipated cost and/or schedule overruns, if any) encountered or anticipated in connection with the construction of the Project since the date of the last report, together with an assessment of how such problems may impact the Construction Schedule and the meeting of critical dates thereunder and a detailed description of the proposed solutions to any such problems, (E) specifying the delivery status of major equipment and the effect, if any, that the anticipated delivery dates of such equipment has on the overall Construction Schedule, (F) specifying any proposed or pending change orders, (G) specifying any material changes or deviations from the Borrower’s or the Transportation Cabinet’s land procurement plans or schedule, and (H) a discussion or analysis of such other matters related to the Project as the TIFIA Lender may reasonably request. The Borrower shall respond, and use commercially reasonable efforts to cause the Construction Contractor to respond, to the TIFIA Lender’s inquiries regarding such report, the construction of the Project and the Construction Contractor’s performance of its obligations under the Construction Agreement.
Monthly Construction Progress Report. Concurrently with the delivery of each Extension of Credit Request during the Construction Period with respect to Loans to be made on a Monthly Construction Disbursement Date (or on or before the last Business Day of any calendar month during the Construction Period in which no Extension of Credit Request is delivered), a report executed by a Responsible Officer of the Borrower (i) specifying, separately with respect to each of the Facility and the Greenhouse, the amount of Project Costs expended since the Closing Date as well as during the preceding calendar month and the amount of Project Costs estimated to be required to complete the Facility and the Greenhouse, (ii) providing an assessment of the overall construction progress of the Facility and the Greenhouse since the date of the last report and since the Closing Date, together with an assessment of how such progress compares to the respective construction schedules, (iii) specifying the estimated Commercial Operations Date and, with respect to each of the Facility and the Greenhouse, the estimated dates of Substantial Completion and Final Completion, (iv) providing a detailed description of any and all material problems (including but not limited to actual and anticipated cost overruns, if any) encountered or anticipated in connection with the construction of the Facility or the Greenhouse since the date of the last report, together with an assessment of how such problems may impact the construction schedule and a detailed description of the proposed solutions to any such problems and (v) a discussion or analysis of such other matters related to the Project as the Administrative Agent or any Institution may reasonably request.
Monthly Construction Progress Report. On or before the last Business Day of any calendar month during the Construction Period, a report executed by a ▇▇▇▇▇▇▇▇’s Authorized Representative (A) of the amount of Project Costs expended since the Effective Date as well as during the preceding calendar month and the amount of Project Costs estimated to be required to complete the Project, (B) providing an assessment of the overall construction progress of the Project since the date of the last report and since the Effective Date, together with an assessment of how such progress compares to the Construction Schedule,
Monthly Construction Progress Report. On or before the last Business Day of any calendar month during the Construction Period following the issuance of NTP1, a report (each a “Construction Progress Report”) executed by a Borrower’s Authorized Representative that (A) specifies the amount of Total Project Costs expended since the Effective Date as well as during the preceding calendar month and the amount of Total Project Costs estimated to be required to complete the Project, (B) provides an assessment of the overall construction progress of the Project since the date of the last report and since the Effective Date, together with an assessment of how such progress compares to the Construction Schedule, (C) specifies all Milestone Payments (including the SC Milestone Payment) made to date and any deductions therefrom, (D) specifies the most recent projections for the Milestone Completion Date for Milestone 5 and the Substantial Completion Date as compared to the projected Milestone Completion Date for Milestone 5 and the projected Substantial Completion Date specified in the Financial Plan most recently approved by the TIFIA Lender and certifies that the that the Borrower will achieve Milestone Completion for Milestone 5 prior to the TIFIA Lender Longstop Date and Substantial Completion by the TIFIA Lender Substantial Completion Deadline Date, (E) in the case (i) the Milestone Completion Date for Milestone 5 has not been achieved on or prior to the Milestone Completion Target Date for Milestone 5 or (ii) the Substantial Completion Date has not been achieved on or prior to the Baseline Substantial Completion Date, certifies as to (1) the amount of Delay Liquidated Damages (as defined in the Construction Contract) actually received by the Borrower (or then payable to the Borrower under the Construction Contract), (2) the percentage of the aggregate Delay Liquidated Damages paid or payable relative to the Delay Liquidated Damages Subcap (as defined in the Construction Contract) and (3) the then current stated amount of all Construction Letters of Credit, (F) provides a detailed description of any material problems (including actual and anticipated cost and/or schedule overruns, if any, or the failure to receive, or delay in receiving, any Governmental Approval or making any required filing, notice, recordation or other demonstration to or with a Governmental Authority) encountered or anticipated in connection with the construction of the Project since the date of the last report, together with an a...
Monthly Construction Progress Report. On or before the last Business Day of any calendar month during the Construction Period, a report executed by a Borrower’s Authorized Representative (A) of the amount of Total Project Costs for Phase 2 expended since the Effective Date as well as during the preceding calendar month and the amount of Total Project Costs for Phase 2 estimated to be required to complete each phase of the Project, (B) providing an assessment of the overall construction progress of Phase 2 since the date of the last report and since the Effective Date through the end of the preceding calendar month, together with an assessment of how such progress compares to the Construction Schedule, (C) specifying the projected Substantial Completion Date,
Monthly Construction Progress Report. Within 15 Business Days after the end of each month prior to the Substantial Completion Date, a Construction Progress Report, accompanied by an officer’s certificate of the Borrower substantially in the form of Exhibit K (Form of Monthly Construction Progress Report) and addressing such other matters as DOE may request.