Project Covenant Sample Clauses
A Project Covenant clause establishes specific obligations and commitments that parties must uphold throughout the duration of a project. Typically, this clause outlines standards of performance, reporting requirements, or restrictions on certain actions to ensure the project proceeds as agreed. For example, it may require a contractor to maintain certain safety standards or prohibit the use of unapproved materials. The core function of this clause is to ensure all parties adhere to agreed-upon practices, thereby reducing the risk of disputes and promoting successful project completion.
Project Covenant. It is acknowledged that the Authority’s willingness to enter into this Contract and carry out the Authority’s obligations under the Transaction Documents is based on the anticipated benefits (the “Public Benefits”) to be derived in the City through the Redeveloper’s completion of the Project and the proper maintenance of the Project and/or any Project Improvements, all in accordance with the terms and conditions of the Redevelopment Plan. Accordingly, and as a material inducement to the Authority to enter into this Contract and consummate the transactions contemplated by the Transaction Documents, the Redeveloper covenants and agrees that it will at all times during the term of the Urban Renewal Plan, as may be amended from time to time, subject to the terms and conditions set forth in the Redevelopment Plan: (a) properly complete and operate the Project and the Project Improvements; (b) properly maintain the Property and the Project Improvements; and (c) observe and perform every other term, covenant, condition, or agreement to be observed or performed by Redeveloper under this Contract (the “Project Covenant”).
Project Covenant. (a) As of the Test Date, the Property supports a Debt Yield of %.
Project Covenant. It is acknowledged that the Authority’s willingness to enter into this Contract and carry out the Authority’s obligations under the Transaction Documents is based on the anticipated benefits (the “Public Benefits”) to be derived in the City through the Redeveloper’s completion of the Project and the proper maintenance of the Project and/or any Project Improvements. Accordingly, and as a material inducement to the Authority to enter into this Contract and consummate the transactions contemplated by the Transaction Documents, the Redeveloper covenants and agrees that it will at all times during the term of this Contract, as may be amended from time to time: (a) properly complete and operate the Project and the Project Improvements; (b) properly maintain the Property and the Project Improvements; and (c) observe and perform every other term, covenant, condition, or agreement to be observed or performed by Redeveloper under this Contract (the “Project Covenant”).
Project Covenant. It is acknowledged that the Authority’s willingness to enter into this Contract and carry out the Authority’s obligations under the Transaction Documents is based on the anticipated benefits (the “Public Benefits”) to be derived in the City through the Redeveloper’s completion of the Project and the proper maintenance of the Project and/or any Project Improvements. Accordingly, and as a material inducement to the Authority to enter into this Contract and consummate the transactions contemplated by the Transaction Documents, the Redeveloper covenants and agrees that it will at all times during the term of the Urban Renewal Plan, as may be amended from time to time: (a) properly complete and operate the Project and the Project Improvements; (b) properly maintain the Project and the Project Improvements; and (c) observe and perform every other term, covenant, condition, or agreement to be observed or performed by Redeveloper under this Contract (the “Project Covenant”).
Project Covenant. A declaration encumbering title to the Project in respect to exclusion of uses thereon that violate any of the exclusive uses permitted under that certain lease pursuant to which Best Products is the tenant on the Best Products Pad.
Project Covenant. It is acknowledged that the Authority’s willingness to enter into this Contract and carry out the Authority’s obligations under the Transaction Documents is based on the anticipated benefits (the “Public Benefits”) to be derived in the City through the Redeveloper's completion of the Project and the proper maintenance of the Project and/or any Project Improvements. Authority and Redeveloper acknowledge that the Public Benefits to be derived from the Project are that the Redeveloper will build and maintain the Project and the Project Improvements during the term of the Urban Renewal Plan. Accordingly, and as a material inducement to the Authority to enter into this Contract and consummate the transactions contemplated by the Transaction Documents, the Redeveloper covenants and agrees that it will at all times during the term of the Urban Renewal Plan, as may be amended from time to time, either perform or cause to be performed the following: (a) complete and operate the Project and the Project Improvements; (b) maintain the Property and the Project Improvements in good condition; and (c) observe and perform every other term, covenant, condition, or agreement to be observed or performed by Redeveloper under this Contract (the “Project Covenant”).
Project Covenant. It is acknowledged that the Authority’s willingness to enter into this Contract and carry out the Authority’s obligations under the Transaction Documents is based on the anticipated benefits (the “Public Benefits”) to be derived in the City through the Redeveloper’s completion
Project Covenant. It is acknowledged that the Authority’s willingness to enter into this Contract and carry out the Authority’s obligations under the Transaction Documents is based on the anticipated benefits (the “Public Benefits”) to be derived in the City through the Redeveloper's completion of the Project and the proper maintenance of the Property. The Authority and the Redeveloper Parties acknowledge that the Public Benefits to be derived from the Project are that the Redeveloper will build and maintain the Project and the Project Improvements during the term of the Urban Renewal Plan. Accordingly, and as a material inducement to the Authority to enter into this Contract and consummate the transactions contemplated by the Transaction Documents, the Redeveloper covenants and agrees that it will complete the Project and, upon issuance of the Completion Certificate, at all times during the term of the Urban Renewal Plan, as may be amended from time to time, either perform or cause to be performed the following: (a) complete and operate the Project and the Project Improvements; (b) maintain the Property in good condition; and (c) observe and perform every other term, covenant, condition, or agreement to be observed or performed by Redeveloper Parties under this Contract (the “Project Covenant”).