Common use of Operation of the Project Clause in Contracts

Operation of the Project. During the Project Operational Phase the Project Premises shall be operated in accordance with the provisions of this Agreement and: (i) the Project description, operating budget and other documents set forth in Appendix B and the Internal Review Package; (ii) the management and operating plan as defined in Section 15 below, to be approved by the Corporation prior to commencement of occupancy of the Project Premises, or, where premises are already occupied, prior to any payment under this Agreement, and periodically thereafter throughout the Project Operational Phase; (iii) any restrictive deed covenants affecting the Project Premises; and (iv) any applicable federal, State or local law, regulation or ordinance governing the operation of the Project and Project Premises. The foregoing are deemed incorporated by reference as part of this Agreement.

Operation of the Project. During the Project Operational Phase the Project Premises shall be operated in accordance with the provisions of this Agreement AGREEMENT and: (i) the Project description, operating budget and other documents set forth in Appendix B and the Internal Review Package; (ii) the management and operating plan as defined in Section 15 below, to be approved by the Corporation prior to commencement of occupancy of the Project Premises, or, where premises are already occupied, prior to any payment under this AgreementAGREEMENT, and periodically thereafter throughout the Project Operational Phase; (iii) any restrictive deed covenants affecting the Project Premises; and (iv) any applicable federal, State or local law, regulation or ordinance governing the operation of the Project and Project Premises. The foregoing are deemed incorporated by reference as part of this AgreementAGREEMENT.