NO NEW CONSTRUCTION Sample Clauses
The "No New Construction" clause prohibits the initiation of any new building or structural projects on the property during a specified period, typically the term of a lease or pending a sale. In practice, this means that the property owner or tenant cannot erect new buildings, make significant additions, or undertake major renovations without prior written consent from the other party. This clause serves to maintain the property's current condition and prevents unexpected changes that could affect value, use, or compliance, thereby protecting the interests of both parties and ensuring stability during the agreement period.
NO NEW CONSTRUCTION. Borrower will not, without Agent's prior written approval, construct any improvements (excluding resort amenities) on any Resorts, Land or any portion of the Additional Resort Collateral constituting real property, unless such improvements are contemplated in the Business Plan.
NO NEW CONSTRUCTION. Section 7.2(m) is hereby deleted in its entirety. ▇▇▇▇▇▇ ▇. ▇▇▇▇, Chief Executive Officer January__,2006
NO NEW CONSTRUCTION. Seller covenants and agrees, during the Delivery Period, that (a) no new facilities are required to be constructed in order for Seller to meet its supply obligation, and (b) it shall not construct any new facilities to meet its supply obligation hereunder unless such new facility has satisfied all Applicable Law, including CEQA and any other applicable California environmental statutes relating to the construction and operation of such facility.