Project Management Agreement. 49ers Stadium Company will make a good faith effort to assist the Stadium Authority in completion of the Stadium. The Stadium Authority will enter into a project management agreement (the “Project Management Agreement”) with 49ers Stadium Company pursuant to which 49ers Stadium Company will direct and manage all design and construction for the Stadium, subject to oversight of the Stadium Authority in accordance with procedures to be defined in the Project Management Agreement that recognize 49ers Stadium Company’s responsibility for construction cost overruns. The design of the Stadium will be developed by 49ers Stadium Company in consultation with the Stadium Authority, City and Agency. The design will be presented at public meetings where the public will have the opportunity to comment on the design.
Project Management Agreement. Each of the Issuer and the Guarantor shall at all times comply with their respective obligations under the Project Management Agreement.
Project Management Agreement. (i) Borrower shall cause Mortgage Borrower to cause Project Manager to manage work at the Improvements in accordance with the Project Management Agreement and this Agreement. Borrower shall cause Mortgage Borrower to (A) diligently perform and observe, in each case in all material respects, all of the terms, covenants and conditions of the Project Management Agreement on the part of Mortgage Borrower to be performed and observed, (B) promptly notify Administrative Agent of any notice to Borrower or Mortgage Borrower of any material default by Borrower or Mortgage in the performance or observance of any of the terms, covenants or conditions of the Project Management Agreement on the part of Mortgage Borrower to be performed and observed, (C) promptly following receipt of Administrative Agent’s written request, deliver to Administrative Agent a copy of each financial statement, business plan, capital expenditures plan, report and estimate received by it pursuant to the terms of the Project Management Agreement, (D) promptly enforce the performance and observance in all material respects of all of the covenants required to be performed and observed by Project Manager under the Project Management Agreement and (E) in the event of any conflict between the terms and conditions of this Agreement and the terms and conditions of the Project Management Agreement with respect to the performance of Capital Expenditures Work and Tenant Improvement Work, the terms of this Agreement shall control and Borrower shall cause Mortgage Borrower to Project Manager to comply in all material respects with the terms and conditions of this Agreement. If Mortgage Borrower shall default in the performance or observance of any term, covenant or condition of the Project Management Agreement on the part of Mortgage Borrower to be performed or observed (beyond the expiration of any applicable grace, notice and cure periods), then, without limiting Administrative Agent’s other rights or remedies under this Agreement or the other Loan Documents, and without waiving or releasing Borrower from any of its Obligations hereunder Mortgage Borrower’s Obligations or under the Project Management Agreement, as applicable, Administrative Agent shall have the right, but shall be under no obligation, to pay any sums and to perform any act as may be appropriate to cause all the terms, covenants and conditions of the Project Management Agreement on the part of Mortgage Borrower to be performed or observe...
Project Management Agreement. Owner will execute a Project Management Agreement with OHCS concurrent with this Agreement in form and substance satisfactory to OHCS. If Owner will, or is required by OHCS to, accomplish its management functions with respect to the Project through a Management Agent, such Management Agent also must execute the Project Management Agreement. Any then current Project Management Agreement, when approved by OHCS, will be deemed incorporated into this Agreement by reference. OHCS may require change of the Management Agent and revisions to the Project Management Agreement as it deems appropriate, in its sole discretion.
Project Management Agreement. The Parties hereby agree to enter into a project management agreement (the "Project Management Agreement") the terms and conditions of which are outlined below.
Project Management Agreement. The Project Management Agreement is in full force and effect and (a) to Borrower’s knowledge, there is no default thereunder by Project Manager thereunder and (b) there is no default thereunder by Borrower thereunder. The Project Management Agreement was entered into on commercially reasonable arm’s-length terms.
Project Management Agreement. This Project Management Agreement ("Agreement" hereinafter) has been signed by and between the following parties;
Project Management Agreement. (a) OSEG and the City shall enter into the Project Management Agreement. The Project Management Agreement shall be entered into on Closing.
(b) The Project Management Agreement shall contain, amongst other matters, the following basic principles:
(i) OSEG shall have an obligation to take carriage of the development of the Stadium Plans and Specifications subject to the terms contemplated in Section 5.4;
(ii) OSEG shall have the obligation to cause the Construction of the Stadium Improvements to be completed in a good and workmanlike manner pursuant to the Comprehensive Construction Contract in accordance with the Final Plans and Specifications for the Stadium developed in accordance with the Plan Approval Procedure; and
(iii) OSEG shall provide day-to-day supervision of the Construction of the Stadium Improvements on behalf of the City, for which it shall receive compensation for its actual and direct costs and expenses (such as a project manager and/or engagement of a third party project management firm, provided that costs and expenses in respect thereof do not exceed three percent (3%) of the Soft Costs and Hard Costs of the Stadium Improvements), but not in any other respect (such as Internal Costs). Costs and expenses incurred by OSEG that relate to more than one part of the Total Project may be allocated by OSEG to the Stadium Improvements, as mutually agreed by the City and OSEG.
Project Management Agreement. Borrower shall keep the Project Management Agreement with Fremar Xxxxxx Cooperative, Inc. in full force and effect with no amendment thereto without the prior written consent of Lender.
Project Management Agreement. Commencing on the date of the Agreement and continuing through December 31, 2034, (the “Project Term”) Developer shall operate, maintain, and manage the Project as follows:
a. In compliance with all of the terms and conditions of the Agreement.
b. In compliance with the statutory terms necessary to establish and maintain a Tax Increment Financing Housing District in accordance with Minn. Stat. §§469.174 through 469.1799, inclusive, including but not limited to the requirements of Minn. Stat. §469.174 Subd. 11.
c. In compliance with the terms and conditions of the TIF Housing District and TIF Plan attached hereto as Exhibit H.
d. The Project shall include no owner-occupied housing units.
e. The Project shall consist of 100 rental units, for which the following shall apply:
(i) At least 20% of the rental units shall be occupied by persons with incomes no greater than 50% of Xxxxxx County median income; and
(ii) At least 40% of the rental units shall be occupied by persons with incomes no greater than 60% of Xxxxxx County median income.
f. No improvements within the Project shall be planned, constructed, or used for purposes other than housing.
g. Developer shall obtain and maintain, in full force and effect comprehensive insurance to cover all risks, including fire and extended coverage, in an amount equal to the full insurable value of the Project.
h. Developer shall cause the Project, and all buildings, appurtenances, equipment, and grounds of the Project to be kept in good maintenance and repair, and in compliance with state and local codes.
i. Developer shall make arrangements for water, electricity, gas, fuel, oil, heating, sewage and trash disposal, vermin extermination, laundry facilities, telephone services and such other utilities and services consistent with rental industry standards and similar projects, and in compliance with the provisions of the Delano City Code.
