Project Construction and Operation Sample Clauses

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.
Sample 1Sample 2
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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”).
Sample 1
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.
Sample 1
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.
Sample 1
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.
Sample 1
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).
Sample 1
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.
Sample 1
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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.
Sample 1

Related to Project Construction and Operation

  • Contract Construction 6.27.1 The parties acknowledge that each party and its counsel have reviewed this CONTRACT and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this CONTRACT or any amendment or exhibits hereto.

  • Construction of the Project Highway (i) The Contractor shall construct the Project Highway as specified in Schedule- B and Schedule-C, and in conformity with the Specifications and Standards set forth in Schedule-D. The Contractor shall be responsible for the correct positioning of all parts of the Works, and shall rectify any error in the positions, levels, dimensions or alignment of the Works. The [650th (six hundred and fiftieth) day] from the Appointed Date shall be the scheduled completion date (the “Scheduled Completion Date”) and the Contractor agrees and undertakes that the construction shall be completed on or before the Scheduled Completion Date, including any extension thereof. (ii) The Contractor shall construct the Project Highway in accordance with the Project Completion Schedule set forth in Schedule-J. In the event that the Contractor fails to achieve any Project Milestone or the Scheduled Completion Date within a period of 30 (thirty) days from the date set forth in Schedule-J, unless such failure has occurred due to Force Majeure or for reasons solely attributable to the Authority, it shall pay Damages to the Authority of a sum calculated at the rate of 0.05% (zero point zero five percent) of the Contract Price for delay of each day reckoned from the date specified in Schedule –J and until such Project Milestone is achieved or the Project Highway is completed; provided that if the period for any or all Project Milestones or the Scheduled Completion Date is extended in accordance with the provisions of this Agreement, the dates set forth in Schedule-J shall be deemed to be modified accordingly and the provisions of this Agreement shall apply as if Schedule-J has been amended as above; provided further that in the event the Project Highway is completed within or before the Scheduled Completion Date including any Time Extension, applicable for that work or section, the Damages paid under this Clause 10.3 (ii) shall be refunded by the Authority to the Contractor, but without any interest thereon. The Parties agree that for determining achievement or delays in completion of the Project Milestones or the Project on the due date, the works affected due to delay in providing the site for which time extension has been granted beyond the Scheduled Completion Date will be excluded. For example on the due date to achieve the Project Milestone-I (i.e., Stage Payments of 10% (ten percent) of Contract Price on 180th (one hundred and eighty) day from the Appointed Date), if 5% (five percent) of the project length corresponding to the Project Milestone-I is not handed over or lately handed over resulting in the extension of completion of this 5% (five percent) length beyond Scheduled Completion Date, Stage Payment of 10% X 0.95 = 9.5% only is to be achieved by 180th (one hundred and eighty) day. For the avoidance of doubt, it is agreed that recovery of Damages under this Clause 10.3 (ii) shall be without prejudice to the rights of the Authority under this Agreement including the right of Termination thereof. The Parties further agree that Time Extension hereunder shall only be reckoned for and in respect of the affected Works as specified in Clause 10.5 (ii). (iii) The Authority shall notify the Contractor of its decision to impose Damages in pursuance with the provisions of this Clause 10.3. Provided that no deduction on account of Damages shall be effected by the Authority without notifying the Contractor of its decision to impose the Damages, and taking into consideration the representation, if any, made by the Contractor within 20 (twenty) days of such notice. The Parties expressly agree that the total amount of Damages under Clause 10.3 (ii) shall not exceed 10% (ten percent) of the Contract Price. If the damages exceed 10% (ten percent) of the Contract Price, the Contractor shall be deemed to be in default of this agreement having no cure and the Authority shall be entitled to terminate this Agreement by issuing a Termination Notice in accordance with the provisions of Clause 23.1 (ii). (iv) In the event that the Contractor fails to achieve the Project Completion within a period of 90 (ninety) days from the Schedule Completion Date set forth in Schedule-J, unless such failure has occurred due to Force Majeure or for reasons solely attributable to the Authority, the contractor shall be deemed to be ineligible for bidding any future projects of the Authority, both as the sole party or as one of the parties of Joint Venture/ Consortium during the period from Scheduled Completion Date to issuance of Completion Certificate. This restriction is applicable if the contract value of the delayed project is not less than Rs. 300 Crore.

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