Project Contract Requirements Sample Clauses

Project Contract Requirements. All Project Contracts must: (i) require the Contractor to obtain all required approvals from governmental entities for the work to be performed thereunder; (ii) require the Contractor to obtain statutory payment bonds and performance bonds, each of which shall name the Trustee as an obligee and each of which shall be in such amounts as to meet statutory requirements, but in no event less than the amount of the Project Contract, and in all events be in form and issued by surety companies satisfactory to the Lessor and the Lessee; (iii) require that all materials furnished be of good and serviceable quality and all labor performed be good and workmanlike and in conformity with the plans and specifications for the Project; (iv) require the Contractor and its subcontractors to obtain the insurance set out in Section 5.4 below; (v) require that all Project Contracts and any warranties contained therein can be assigned to and directly enforced by the Lessee, the Trustee or a Permitted Assignee; (vi) shall not be approved until authorized in writing by the Lessee’s Authorized Representative; (vii) require that all Project Contracts provide for statutory retainage in accordance with the then current requirements of the Texas Property Code and to contain a representation and warranty that the construction work covered by such agreements will be warranted from defects in workmanship and materials for a period for a period of at least one (1) year from the date of Final Completion of such construction work (unless a longer period of time is provided for by the manufacturer or supplier of any materials or equipment which is a part of such construction work); and (viii) require that no Project Contracts (including but not limited to the Development Agreement) may be amended or modified, and no rights of the Lessor or the Developer may be waived, without the Lessee’s prior written consent.‌
Sample 1
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Related to Project Contract Requirements

  • Force Majeure If by reason of Force Majeure, either party hereto shall be rendered unable wholly or in part to carry out its obligations under this Agreement then such party shall give notice and full particulars of Force Majeure in writing to the other party within a reasonable time after occurrence of the event or cause relied upon, and the obligation of the party giving such notice, so far as it is affected by such Force Majeure, shall be suspended during the continuance of the inability then claimed, except as hereinafter provided, but for no longer period, and such party shall endeavor to remove or overcome such inability with all reasonable dispatch. Choice of Law The Agreement between the Vendor and TIPS/ESC Region 8 and any addenda or other additions resulting from this procurement process, however described, shall be governed by, construed and enforced in accordance with the laws of the State of Texas, regardless of any conflict of laws principles. Venue, Jurisdiction and Service of Process Any Proceeding arising out of or relating to this procurement process or any contract issued by TIPS resulting from or any contemplated transaction shall be brought in a court of competent jurisdiction in Camp County, Texas and each of the parties irrevocably submits to the exclusive jurisdiction of said court in any such proceeding, waives any objection it may now or hereafter have to venue or to convenience of forum, agrees that all claims in respect of the Proceeding shall be heard and determined only in any such court, and agrees not to bring any proceeding arising out of or relating to this procurement process or any contract resulting from or any contemplated transaction in any other court. The parties agree that either or both of them may file a copy of this paragraph with any court as written evidence of the knowing, voluntary and freely bargained for agreement between the parties irrevocably to waive any objections to venue or to convenience of forum. Process in any Proceeding referred to in the first sentence of this Section may be served on any party anywhere in the world. Venue for any dispute resolution process, other than litigation, between TIPS and the Vendor shall be located in Camp or Xxxxx County, Texas.

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • Confidentiality (a) Subject to Section 7.15(c), during the Term and for a period of three

  • Miscellaneous The Vendor acknowledges and agrees that continued participation in TIPS is subject to TIPS sole discretion and that any Vendor may be removed from the participation in the Program at any time with or without cause. Nothing in the Agreement or in any other communication between TIPS and the Vendor may be construed as a guarantee that TIPS or TIPS Members will submit any orders at any time. TIPS reserves the right to request additional proposals for items or services already on Agreement at any time.

  • Notices Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance with the notice provisions of the Purchase Agreement.

  • Term The term of this Agreement will be ten (10) years from the Effective Date (as such term may be extended pursuant to Section 4.2, the “Term”).

  • Termination This Agreement may be terminated at any time prior to the Closing:

  • IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written.

  • Assignment This Agreement and all rights and obligations hereunder may not be assigned without the written consent of the other party.

  • Entire Agreement This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter contained in this Agreement and supersedes all prior agreements, understandings and negotiations between the parties.

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