Project Construction and Operation Clause Samples
The 'Project Construction and Operation' clause defines the responsibilities and requirements related to building and running a project. It typically outlines the standards, timelines, and procedures that must be followed during the construction phase, as well as the operational protocols once the project is completed. For example, it may specify compliance with safety regulations, quality benchmarks, and ongoing maintenance obligations. This clause ensures that both parties have a clear understanding of their duties, helping to prevent disputes and ensuring the project is completed and operated according to agreed-upon terms.
Project Construction and Operation. The Company agrees to construct the Projects on the Property. Furthermore, the Company agrees to invest not less than $20,000,000 into capital improvements for the Projects, including construction work and other furnishings. The Company agrees to submit a detailed site plan (the “Site Plan”) for the development of the Projects to the City. Upon its approval by the City, the Site Plan shall be attached hereto as Exhibit B.. The Company agrees to complete the Remodel Project by no later than December 31, 2022. The Company agrees complete the New Building Project by no later than December 31, 2024. The Company agrees to ensure that the completed Projects are being used in its business operations throughout the Term, as hereinafter defined, of this Agreement (the “Business Operations Requirement”). The Company further agrees to maintain, preserve, and keep the Property, including but not limited to the Projects, useful and in good repair and working order, ordinary wear and tear excepted, and from time to time will make all necessary repairs, replacements, renewals, and additions. Further, the Company agrees to maintain compliance with local zoning, land use, building and safety codes and regulations.
Project Construction and Operation. The Company agrees to construct the Project on the Property. Furthermore, the Company agrees to invest not less than $5,000,000 into capital improvements for the Project, including construction work and other furnishings. The Company has submitted a detailed site plan (the “Site Plan”) for the development of the Project to the City. The Site Plan is attached hereto as Exhibit B. The Company agrees to complete the Project in accordance with the Site Plan by no later than December 31, 2024, subject to a Force Majeure Event (as hereinafter defined).
Project Construction and Operation. The Bank agrees to construct the Project on the Property and to maintain and use the completed Project as part of its business operations throughout the Term, as hereinafter defined. The Bank agrees to invest not less than $3,000,000.00 into capital improvements for the Project. The Bank has submitted a detailed site plan (the “Site Plan”) for the development of the Project to the City which was approved on June 25th, 2018 and is set forth as Exhibit B hereto. The Bank agrees to construct the Project in accordance with the Site Plan and to substantially complete such construction by no later than December 31, 2019 (the “Completion Date”).
Project Construction and Operation. The Developer agrees to cause the construction of the Project on the Property. The Developer agrees to (i) approve a final design of the Project; (ii) enter into a contract for the construction of the Project; and (iii) and cause commencement of construction of the Project on the Property by July 1, 2023 (the “Initial Grant Disbursement Prerequisite Requirements”). Further, subject to any Unavoidable Delays, the Developer agrees to (i) complete construction of the Project; and (ii) obtain a certificate of occupancy from the City for the Project by no later than July 1, 2024 (the “Second Grant Disbursement Prerequisite Requirements”). For purposes of this Agreement the term “Unavoidable Delays” means delays resulting from acts or occurrences outside the reasonable control of Developer, including but not limited to storms, floods, fires, explosions, or other casualty losses, unusual weather conditions, strikes, boycotts, lockouts, or other labor disputes, delays in transportation or delivery of material or equipment, litigation commenced by third parties, pandemics, or the acts of any federal, State, or local governmental unit. Upon completion of the Project, the Developer agrees to continuously operate (the “Operational Requirement”) the Events Center on the Property throughout the Term (as hereinafter defined). Further, the Developer agrees to maintain, preserve, and keep the Property, including but not limited to the Events Center, useful and in good repair and working order, ordinary wear and tear excepted, and from time to time will make all necessary repairs, replacements, renewals, and additions.
Project Construction and Operation. The Company agrees to construct the Project on the Property. Furthermore, the Company agrees to invest not less than $12,000,000 into capital improvements for the Project, including construction work and other furnishings. The Company has submitted a detailed site plan (the “Site Plan”) for the development of the Project to the City. The Site Plan is attached hereto as Exhibit B. It is anticipated that the Company will construct the project in two phases. The Company agrees to complete the first phase of the Project by no later than December 31, 2022. The Company agrees complete the second phase of the Project by no later than December 31, 2024. The Company agrees to ensure that the completed Project is used in its business operations throughout the Term, as hereinafter defined, of this Agreement (the “Business Operations Requirement”). It is anticipated that the Company will create at least twenty (20) new jobs upon completion of the first phase of the Project, and it is further anticipated that the Company will create an additional twenty (20) new jobs upon completion of the second phase of the Project. The Company further agrees to maintain, preserve, and keep the Property, including but not limited to the Project, useful and in good repair and working order, ordinary wear and tear excepted, and from time to time will make all necessary repairs, replacements, renewals, and additions. Further, the Company agrees to maintain compliance with local zoning, land use, building and safety codes and regulations.
Project Construction and Operation. The Company agrees to construct the Project on the Property and to maintain and use the completed Project as part of its business operations throughout the Term, as hereinafter defined. Furthermore, the Company agrees to invest not less than $ into capital improvements for the Project, including construction work and equipment acquisition. The Company will submit a detailed site plan (the “Site Plan”) for the development of the Property to the City for review and approval. The Site Plan will be attached hereto as Exhibit B upon approval by the City Council. The Company agrees to construct the Project in accordance with the Site Plan and to substantially complete such construction by no later than , 2019.
Project Construction and Operation. The Company agrees to construct the Project on the Property. Furthermore, the Company agrees to invest not less than $12,000,000 into capital improvements for the Project, including construction work and other furnishings. The Company has submitted a detailed site plan (the “Site Plan”) for the development of the Project to the City. The Site Plan is attached hereto as Exhibit B. The Company has constructed the Phase 1 Project. The Company agrees complete the Phase 2 Project by no later than December 31, 2025. The Company agrees to ensure that the completed Project is used in its business operations throughout the Term, as hereinafter defined, of this Agreement (the “Business Operations Requirement”). It is anticipated that the Company will create at least twenty (20) new jobs upon completion of the Phase 1 Project, and it is further anticipated that the Company will create an additional twenty (20) new jobs upon completion of the Phase 2 Project. The Company further agrees to maintain, preserve, and keep the Property, including but not limited to the Project, useful and in good repair and working order, ordinary wear and tear excepted, and from time to time will make all necessary repairs, replacements, renewals, and additions. Further, the Company agrees to maintain compliance with local zoning, land use, building and safety codes and regulations.
Project Construction and Operation. The Company agrees to construct the Projects on the Property. Furthermore, the Company agrees to invest not less than $20,000,000 into capital improvements for the Projects, including construction work and other furnishings. The Company has submitted a detailed site plan (the “Site Plan”) for the development of the Projects to the City. The Site Plan is attached hereto as Exhibit B. The Company agrees to complete the Remodel Project by no later than December 31, 2022. The Company agrees complete the New Building Project by no later than December 31, 2023. The Company agrees to ensure that the completed Projects are being used in its business operations throughout the Term, as hereinafter defined, of this Agreement (the “Business Operations Requirement”). The Company further agrees to maintain, preserve, and keep the Property, including but not limited to the Projects, useful and in good repair and working order, ordinary wear and tear excepted, and from time to time will make all necessary repairs, replacements, renewals, and additions. Further, the Company agrees to maintain compliance with local zoning, land use, building and safety codes and regulations.