No Commencement. Subject to Force Majeure and after offering in writing to meet with Company to discuss Company’s failure to commence, if Company has not commenced construction of the Project within one hundred fifty (150) days after the Closing Date, then, at any time until Company commences construction of the Project, City may elect, in addition to any other legal and equitable remedies available to City, to (i) unilaterally terminate this Agreement; and (ii) re-enter the Site and exercise its Power of Termination and cause title to the Site to vest in the RDC, without any liability or obligation to Company. The Power of Termination and foregoing rights shall be deemed exercised upon delivery to Company of Notice delivered at any time after such one hundred fifty (150) day period but prior to Commencement of Construction (as defined herein below) of the Project. Upon delivery of such Notice to Company, Company shall surrender possession of the Site to RDC and title to the Site shall automatically, and without further action, vest in the RDC; provided, however, if title to the property cannot automatically vest in the RDC, Company acknowledges and agrees that it shall execute a limited warranty deed and take all other required action under the Laws or by the Title Insurer to reconvey the Site to the RDC. Any such re-vesting shall be free and clear of any and all encumbrances, liens, mortgages, easements, agreements, and other matters of record other than those existing immediately prior to Closing. No delay or failure by City Bodies to enforce any of the covenants, conditions, reservations and rights contained in this Section 13(a) or to invoke any available remedy with respect to an Event of Default by Company shall under any circumstances be deemed or held to be a waiver by City Bodies of the right to do so thereafter, or an estoppel of City Bodies to assert any right available to it upon the occurrence, recurrence of continuation of any violation or violations hereunder. For purposes of this Section 13(a), “Commencement of Construction” shall mean material and substantial work on the Project pursuant to Required Permits such as installation of footings and foundations and shall not be deemed to occur as a result of mere excavation work.
No Commencement. As of the date of this Agreement, no steps to commence construction on the Land, including steps to clear or otherwise prepare the Land for construction thereon or the delivery of material for use in construction of the Improvements, have been taken, nor has any contract or other agreement for construction thereon been entered into, for furnishing materials for such construction or for any other purpose, including with a Design Professional, the performance of which by the other party thereto would give rise to a lien on the Land.
No Commencement. Subject to Force Majeure, if Xxxxxxxx has not Commenced Construction of the Garage within ninety (90) days after the Effective Date, then, at any time until Xxxxxxxx commences construction of the Garage, City may elect, in addition to any other legal and equitable remedies available to City, to (i) unilaterally terminate this Agreement and all Ancillary Agreements; and (ii) and exercise its Power of Termination without any liability or obligation to Xxxxxxxx or Garage Lender, except as provided in this paragraph and in the Scoping Agreement. Subject to the foregoing, the Power of Termination and foregoing rights shall be deemed exercised upon delivery to Xxxxxxxx and Garage Lender of written notice delivered at any time after such one ninety (90) day period but prior to commencement of construction. Such notice shall be accompanied by the Divestiture Payment. Upon delivery of such notice and payment of the applicable Divestiture Payment to Xxxxxxxx, Xxxxxxxx shall abandon the Project Site and remove all equipment and personal property from the Project Site. No delay or failure by City Bodies to enforce any of the covenants, conditions, reservations and rights contained in this Section 7.04(A), or to invoke any available remedy with respect to an Event of Default by Hagerman shall under any circumstances be deemed or held to be a waiver by City Bodies of the right to do so thereafter, or an estoppel of City Bodies to assert any right available to it upon the occurrence, recurrence of continuation of any violation or violations hereunder. No consent from, or notice to, Garage Lender or any cure right in favor of Garage Lender shall be required in connection with the exercise of such right. The foregoing terms shall be incorporated into the Multi-Party Agreement.
No Commencement. Except for sitework previously performed on the Phase II Land, all of which has been completed and paid in full, with full releases and lien waivers obtained from all Contractors and subcontractors performing any such work in accordance with applicable Governmental Requirements, as of the date hereof, no steps to commence construction on the Phase II Land have been taken, including, without limitation, steps to clear or otherwise prepare the Phase II Land for construction or the delivery of material for use in construction of the Improvements; and no action has been taken under the Construction Contract or any other contract or other agreement for construction which could give rise to a lien on the Phase II Land.
No Commencement. Other than contracts for ordinary and customary maintenance of the Improvements and the completion of certain tenant improvements as described on Exhibit “D”, as of the date of this Agreement, no contract or other agreement for construction on the Mortgaged Property has been entered into for furnishing materials or for any other purpose, the performance of which by the other party thereto would give rise to a lien on the Land.
No Commencement. Subject to Force Majeure, if Company has not commenced construction of the Project within ninety (90) days after the Closing Date, then, at any time until Company commences construction of the Project, City Bodies may elect, in addition to any other legal and equitable remedies available to City Bodies, to unilaterally terminate this Agreement and the Ancillary Agreements, without any liability or obligation to Company. The foregoing rights shall be deemed exercised upon delivery to Company of Notice delivered at any time after such ninety (90) day period but prior to Commencement of Construction (as defined herein below) of the Project. Within thirty (30) days of the delivery of the Notice to Company, Company shall reimburse the Commission for the City Land in the amount of One Hundred Thirty Thousand, Four Hundred Fifteen and no/100 Dollars ($130,415.00) No delay or failure by City Bodies to enforce any of the covenants, conditions, reservations and rights contained in this Section 11(a) or to invoke any available remedy with respect to an Event of Default by Company shall under any circumstances be deemed or held to be a waiver by City Bodies of the right to do so thereafter, or an estoppel of City Bodies to assert any right available to it upon the occurrence, recurrence of continuation of any violation or violations hereunder. For purposes of this Section 11(a), “Commencement of Construction” shall mean material and substantial work on the Project pursuant to Required Permits such as installation of footings and foundations and shall not be deemed to occur as a result of mere excavation work.
No Commencement. As of the date of the execution of the Original Deed of Trust, no steps to commence construction on the portion of the Land covered by such Original Deed of Trust, including steps to clear or otherwise prepare such portion of the Land for construction thereon or the delivery of material for use in construction of the applicable Improvements, have been taken, and no contract or other agreement for construction thereon has been entered into, for furnishing materials for such construction or for any other purpose, the performance of which by the other party thereto would give rise to a Lien.
No Commencement. Subject to Section 20, if Developer has not commenced construction of the Project within 45 days after the applicable date set forth in the Construction Schedule, then, at any time until Developer commences construction of the Project, LCDC may terminate this Agreement, the Operating Agreement, and the Declaration, in which event Developer shall have no further rights with respect to the Project or the East Building Site.
No Commencement. As of the date of recordation of the Mortgage, (a) no steps to commence construction on the Land, including steps to clear or otherwise prepare the Land for construction thereon or the delivery of materials for use in construction of the Improvements, have been taken, and (b) no contract or other agreement has been executed for construction (including development) on the Land for engineering, architecture or other design related to any such construction, has been entered into, for furnishing materials for such construction or for any other related purpose, the performance of which by the other party thereto could give rise to a Lien.
No Commencement. Provided the Bond Proceeds are issued in accordance with Sections 6(m) and 7(d), if Developer has not commenced construction of the Project within sixty (60) days after the Closing Date, then, at any time until Developer commences construction of the Project, Town may elect, in addition to any other legal and equitable remedies available to Town, to (i) terminate this Agreement and all Ancillary Agreements; and
