Possession of Project. Enter into possession of the Project and perform any and all work and labor necessary to complete the Project substantially according to the Construction Contract and the Plans and Specifications or to operate, maintain and repair the Project, and all sums expended by Lender in so doing, together with interest on such total amount at the Default Rate, shall be repaid by Borrower to Lender upon demand and shall be secured by the Credit Documents, notwithstanding that such expenditures may, together with amounts advanced under this Agreement, exceed the amount of the Total Construction Loan Commitment.
Possession of Project. Enter into possession of the Projects and operate and maintain the Projects, and all sums expended by Administrative Agent in so doing, together with interest on such total amount at the Default Rate, shall be repaid by Borrower to Administrative Agent upon demand and shall be secured by the Financing Documents to the extent provided therein, notwithstanding that such expenditures may, together with amounts advanced under this Financing Agreement, exceed the amount of the Total Commitment.
Possession of Project. Upon payment of the Final Application for a Project, CenturyLink will take possession of the Project and will assume responsibility for security, maintenance, heat, utilities, damage to the Project and insurance. Until such time, unless otherwise specifically provided in the Contract Documents, Supplier will be responsible for all such obligations. Notwithstanding the foregoing, CenturyLink may elect in writing at any time during a Project to place a portion of the Service included in the Project into service as of a date specified in CenturyLink’s written notice. In such case, the warranty period set forth in the preceding subsection with respect to that selected portion of the Service only will commence on the date that CenturyLink elects to place the portion of the Service into service as set forth in the written notice. The warranty period for all other portions of the Service included in the Project will remain unchanged and will continue to be governed by the preceding subsection. If CenturyLink elects to place a portion of the Service in a Project into service, Supplier will retain responsibility for security, maintenance, heat, utilities, damage and insurance with respect to the portion of the Service that CenturyLink has elected to place into service unless CenturyLink agrees in writing to accept any or all of these responsibilities.
Possession of Project. To the extent permitted by law, Agent and/or Lenders shall have the right, but not the obligation, to take possession of the affected Project together with all materials, equipment and improvements thereon, whether affixed or not, and perform any and all work and labor necessary to complete the applicable Improvements substantially in accordance with the applicable Plans and Specifications (and, if applicable, Engineering Plans and Specifications) therefore or with such changes therein as the Agent and the Lenders deem appropriate to complete the applicable Work or protect and preserve such Improvements; and for that purpose, the Agent and Lenders shall have the right to expend sums in addition to the Loan Amount and all such additional sums shall constitute indebtedness of the Borrower to the Agent and the Lenders and shall be entitled to the benefit of the security afforded by the applicable Mortgage and Loan Documents. Borrower, to implement the rights of Agent and the Lenders hereunder, irrevocably constitutes and appoints the Agent its true and lawful attorney in fact with full power of substitution for it and in its name, place and stead to take any and all actions the Agent deems necessary or appropriate to complete construction of the applicable Improvements and to protect and preserve same and, without limiting the generality of the foregoing, irrevocably authorize the Agent as follows: to use the funds of Borrower at any time coming into Agent's or any Lender's hands, including any balance which may be held in escrow, any funds which may remain unadvanced hereunder and any funds then on deposit with the Agent pursuant to Section 3.3(d) hereof, for the purpose of completing such Improvements in the manner contemplated hereby or in such manner as Agent and the Lenders deem appropriate to enhance the value of the affected Project; to employ such contractors, subcontractors, agents, architects and inspectors as shall be necessary or appropriate for said purposes; to enter into, alter, amend or modify any and all contracts, agreements or documents in connection with the construction of such Improvements or the furnishing of labor and materials in connection therewith; to pay, settle, compromise or collect all existing accounts or claims arising in connection with the construction of such Improvements, including all claims which are or may become liens against the affected Project; to take all actions it may deem necessary or appropriate in connection ...
Possession of Project. Enter into possession of any Project and perform or cause to be performed any and all work and labor necessary to complete the Project substantially according to the Construction Contracts and the Plans and Specifications or to operate and maintain such Project and all sums expended by Collateral Agent in so doing, together with interest on such total amount at the Default Rate, shall be repaid by Borrower to Collateral Agent upon demand and shall be secured by the Credit Documents, notwithstanding that such expenditures may, together with amounts advanced under this Credit Agreement, exceed the amount of the Total Tranche A Construction Loan Commitment, the Total Tranche B Construction Loan Commitment and the Total LC Commitment.
Possession of Project. If Owner terminates Developer’s engagement hereunder with the prior written consent of or at the direction of the Bond Insurer, the Trustee may take possession of the Project and of all materials, equipment, tools, construction equipment and machinery thereon owned by Developer, and the Trustee thereafter may, with the prior written consent of or at the direction of the Bond Insurer, cause the Work to be finished by whatever method it may deem expedient in a commercially reasonable manner.
Possession of Project. Borrower shall for any reason cease to be in possession of and occupy the Project.
Possession of Project. Enter into possession of the Project and perform any and all work and labor necessary to complete the Project substantially according to the Plans and Specifications or to operate and maintain the Project, and all sums expended by Administrative Agent, Collateral Agent or Depositary in so doing, together with interest on such total amount at the Default Rate, shall be repaid by Borrower to Administrative Agent, Collateral Agent or Depositary, as the case may be, upon demand and shall be secured by the Credit Documents, notwithstanding that such expenditures may, together with amounts advanced under this Agreement, exceed the aggregate amount of the Total Loan Commitment.
Possession of Project. The Trustee shall have the power to require the Board to surrender possession of the Project to it, and the Board shall, upon demand so to do by the Trustee, forthwith surrender to the Trustee actual possession of the Project or such part or parts thereof as the Trustee may designate, and the Trustee shall take possession thereof and may wholly exclude the Board and its agents and servants therefrom. The Trustee shall thereafter operate and manage the same by its chosen representatives with power to make, at the expense of the trust estate, such repairs, replacements, alterations, additions or improvements thereto as it may consider advisable, to collect the income therefrom and to pay all proper charges and maintenance expenses thereof, including all proper disbursements by the Trustee.
Possession of Project. Take possession of the Project and have, hold, manage, lease and operate the same on such terms and for such period of time as the Bank may deem proper; and collect and receive all rents, income and profits of the property, with or without taking possession of the Project, with full power to make from time to time all alterations, renovations, repairs or replacements thereto as may seem proper to the Bank, and to apply such rents, income and profits to the payment of:
(i) the reasonable cost of such alterations, renovations, repairs and replacements and expenses incident to the taking and retaining possession of the Project and the management and operation thereof and keeping the same properly insured, and
(ii) all taxes and any other encumbrances which may be prior in lien or payment to the Borrower obligations hereunder, and
(iii) the Borrower's obligations hereunder, together with all costs and reasonable attorney's fees, in such order of priority as to any of such items as the Bank in its sole discretion may determine, any law, custom or use to the contrary notwithstanding.
