Recourse During Construction Sample Clauses

Recourse During Construction. During the Construction Period, the Capital Provider shall have full recourse against the Property Owner for any and all amounts due hereunder, together with interest at the default rate and costs of collection, including reasonable attorneys’ fees and costs incurred by the Capital Provider in the exercise of its remedies upon an Event of Default by the Property Owner hereunder. The nonrecourse provisions of Section 5.03 of the Agreement shall not: (i) constitute a waiver, release, limitation, or impairment of any obligation evidenced or secured by any of the C-PACE Transaction Documents; (ii) impair the right of the Capital Provider to name Property Owner or other party as a party defendant in any action or suit to enforce its rights, powers, and remedies upon the occurrence of an Event of Default; or (iii) constitute a prohibition against the Capital Provider to commence any appropriate action or proceeding in order for the Capital Provider to exercise its remedies against all or any portion of the collateral securing the C-PACE Financing. Notwithstanding the foregoing, the limitation on recourse liability provided above SHALL BECOME NULL AND VOID, SHALL BE OF NO FURTHER FORCE AND EFFECT, AND THE PROPERTY OWNER SHALL BE FULLY LIABLE FOR THE FULL PAYMENT AND PERFORMANCE HEREUNDER, INCLUDING THE FULL AMOUNT OF THE OUTSTANDING BALANCE OF THE C-PACE FINANCING, TOGETHER WITH ALL ACCRUED INTEREST (INCLUDING DEFAULT INTEREST AND COSTS OF COLLECTION, INCLUDING REASONABLE ATTORNEYS FEES AND COSTS) AND ALL SUMS ADVANCED BY THE CAPITAL PROVIDER PURSUANT TO THE TRANSACTION DOCUMENTS, IF: An Insolvency Event has occurred with respect to the Property Owner; the Property Owner commences any legal proceeding against the Capital Provider or the City seeking to recover damages or other affirmative recovery against the Capital Provider or the City, including any proceeding asserting claims based on any theory of lender liability; or contests or in any way interferes, directly or indirectly, with (A) any foreclosure action, other action or proceeding to exercise remedies hereunder; or (B) any other enforcement of the Capital Provider’s rights, powers, and remedies under any of the Transaction Documents; or fraud or material misrepresentation of the Property Owner made in or in connection with the C-PACE Financing or Transaction Documents. SCHEDULE OF FINANCING TERMS – AMORTIZATION SCHEDULE [SEE ATTACHED] EXHIBIT A PROPERTY DESCRIPTION [SEE ATTACHED] EXHIBIT B PROPOSED ENERG...
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Recourse During Construction. Notwithstanding any provision herein to the contrary prior to the Completion Date for any Property if no Construction Agency Agreement Event of Default described in clauses (a) or (b) of Section 5.1 of the Construction Agency Agreement has occurred and is continuing with respect to such Property and no Construction Agency Agreement Event of Default described in clause (c) of Section 5.1 of the Construction Agency Agreement has occurred and is continuing, so long as the Lessee for such Property relinquishes its interests therein and conveys possession of such Property to the Agent Lessor as contemplated by Section 20.3(b)(ii) of the Master Lease with the affidavit and certificate contemplated by Section 20.3(b)(i) of the Master Lease, the maximum recovery on a recourse basis from such Lessee for such Property (and any guarantor of such Lessee, including the Guarantors) shall be limited to 89.99% of the Property Cost with respect to such Property; provided that the Lessees and the Representative (on behalf of itself and each other Bevexxx Xxxity) acknowledge and agree that Lessors shall be entitled to recover 100% of such Lease Balance from its interest as owner or mortgagee, as the
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Recourse During Construction. Notwithstanding any provision herein to the contrary, prior to the Completion Date if no Construction Agency Agreement Event of Default described in clauses (a), (b) or (c) of Section 5.1 of the Construction Agency Agreement has occurred, so long as the Lessee and the Lessee Agent relinquish their interests therein and conveys possession of the Property and all Improvements and Modifications to the Agent Certificate Holder as contemplated by Section 20.3(b)(ii) of the Master Lease with the affidavit and certificate contemplated by Section 20.3(b)(i) of the Master Lease, the maximum recovery on a recourse basis from the Lessee (and any guarantor of the Lessee, including the Guarantor) for such Property shall be limited to 89.99% of the Property Cost; provided that the Lessee acknowledges and agrees that Certificate Holders shall be entitled to recover 100% of the Lease Balance from their interest as owner or mortgagee, as the case may be, of the Property and provided further that nothing contained in this Section 15.16 limits the obligations of Guarantor with respect to indemnification under Article XIII hereof except to the extent that such indemnification relates to the payment of Construction Costs.
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Related to Recourse During Construction

  • Governing Law; Construction This Agreement and any claim, counterclaim or dispute of any kind or nature whatsoever arising out of or in any way relating to this Agreement (“Claim”), directly or indirectly, shall be governed by, and construed in accordance with, the laws of the State of New York. The section headings in this Agreement have been inserted as a matter of convenience of reference and are not a part of this Agreement.

  • Commencement of Construction Construction of the Project will start within thirty (30) days after notification to the Developer by the Owner, or as soon thereafter as weather and ground conditions permit.

  • Initial Construction Attached hereto are plans showing proposed modifications to Premises. Within 20 days of execution of the Lease, Landlord will prepare construction drawings and specifications for such modifications containing such details as dimensions, partition plans, dimensioned electrical and telephone outlet plans, modified reflected ceiling plans, room finish schedule, including wall, carpet, floor tile, and VCT colors, and other necessary construction details and specifications for the completion of such work, all in a manner reasonably acceptable to Tenant. Space planning, construction drawings, and specifications shall be provided by Landlord to Tenant a no cost to Tenant. All construction of modifications to Tenant's Premises will be accomplished by Tenant's contractor, which contractor shall furnish to Landlord evidence of insurance as follows: General Liability and Property Damage - $2,000,000 Aggregate, $2,000,000 per Occurrence; Workmens Compensation, and an Owners and Contractors Protective Liability Policy in the amount of $1,000,000 naming the owner and The Gutixxxxx Xxxpany as insureds. In addition, in Tenant's construction contract, Tenant shall insure that the contract holds Landlord and The Gutixxxxx Xxxpany harmless, and that Landlord and The Gutixxxxx Xxxpany are additional named insureds on all of Tenant's insurance policies. It shall be Tenant's contractor's responsibility to obtain the building permit for said modifications to Premises. It shall be Tenant's responsibility to insure that all Tenant's general contractors subcontractors and materialmen are paid in full, and if a lien is placed upon the Building by any such contractor, subcontractor, materialmen, or other, to promptly remove such lien or provide a bond reasonably satisfactory to Landlord and Landlord's mortgagee to insure that such lien will be paid in full while contesting such lien. Landlord shall permit Tenant and Tenant's contractor access for construction of modifications to Tenant's premises promptly after execution hereof. All changes and additions shall be part of the Building, except such items as by writing at the time of approval the parties agree either shall be removed by Tenant on termination of this Lease, or shall be removed or left at Tenant's election.

  • Completion of Construction (a) For the purposes of this Agreement, the terms "

  • Application of Proceeds; Turnover Provisions All proceeds of Common Collateral (including without limitation any interest earned thereon) resulting from the sale, collection or other disposition of Common Collateral in connection with an Enforcement Action, whether or not pursuant to an Insolvency Proceeding, shall be distributed as follows: first to the First Priority Representative for application to the First Priority Obligations in accordance with the terms of the First Priority Documents, until the First Priority Obligations Payment Date has occurred and thereafter, to the Second Priority Representative for application in accordance with the Second Priority Documents. Until the occurrence of the First Priority Obligations Payment Date, any Common Collateral, including without limitation any such Common Collateral constituting proceeds, that may be received by any Second Priority Secured Party in violation of this Agreement shall be segregated and held in trust and promptly paid over to the First Priority Representative, for the benefit of the First Priority Secured Parties, in the same form as received, with any necessary endorsements, and each Second Priority Secured Party hereby authorizes the First Priority Representative to make any such endorsements as agent for the Second Priority Representative (which authorization, being coupled with an interest, is irrevocable).

  • Definitions Construction (a) All initially capitalized terms used herein (including in the preamble and recitals hereof) without definition shall have the meanings ascribed thereto in the Credit Agreement (including Schedule 1.1 thereto). Any terms (whether capitalized or lower case) used in this Agreement that are defined in the Code shall be construed and defined as set forth in the Code unless otherwise defined herein or in the Credit Agreement; provided that to the extent that the Code is used to define any term used herein and if such term is defined differently in different Articles of the Code, the definition of such term contained in Article 9 of the Code shall govern. In addition to those terms defined elsewhere in this Agreement, as used in this Agreement, the following terms shall have the following meanings:

  • Language Construction The language of this Agreement shall be construed in accordance with its fair meaning and not for or against any party. The parties acknowledge that each party and its counsel have reviewed and had the opportunity to participate in the drafting of this Agreement and, accordingly, that the rule of construction that would resolve ambiguities in favor of non-drafting parties shall not apply to the interpretation of this Agreement.

  • Applicable Law and Construction This Lease may be executed in counterparts, shall be construed as a sealed instrument, and shall be governed exclusively by the provisions hereof and by the laws of the state where the Property is located without regard to principles of choice of law or conflicts of law. A facsimile signature to this Lease shall be sufficient to prove the execution by a party. If any provisions shall to any extent be invalid, the remainder shall not be affected. Other than contemporaneous instruments executed and delivered of even date, if any, this Lease contains all of the agreements between Landlord and Tenant relating in any way to the Premises and supersedes all prior agreements and dealings between them. There are no oral agreements between Landlord and Tenant relating to this Lease or the Premises. This Lease may be amended only by instrument in writing executed and delivered by both Landlord and Tenant. The provisions of this Lease shall bind Landlord and Tenant and their respective successors and assigns, and shall inure to the benefit of Landlord and its successors and assigns and of Tenant and its permitted successors and assigns, subject to Article 13. The titles are for convenience only and shall not be considered a part of this Lease. This Lease shall not be construed more strictly against one party than against the other merely by virtue of the fact that it may have been prepared primarily by counsel for one of the parties, it being recognized that both Landlord and Tenant have contributed substantially and materially to the preparation of this Lease. If Tenant is granted any extension or other option, to be effective the exercise (and notice thereof) shall be unconditional; and if Tenant purports to condition the exercise of any option or to vary its terms in any manner, then the purported exercise shall be ineffective. The enumeration of specific examples of a general provision shall not be construed as a limitation of the general provision. Unless a party’s approval or consent is required by the express terms of this Lease not to be unreasonably withheld, such approval or consent may be withheld in the party’s sole discretion. The submission of a form of this Lease or any summary of its terms shall not constitute an offer by Landlord to Tenant; but a leasehold shall only be created and the parties bound when this Lease is executed and delivered by both Landlord and Tenant and approved by the holder of any mortgage of the Premises having the right to approve this Lease. Nothing herein shall be construed as creating the relationship between Landlord and Tenant of principal and agent, or of partners or joint venturers or any relationship other than landlord and tenant. This Lease and all consents, notices, approvals and all other related documents may be reproduced by any party by any electronic means or by facsimile, photographic, microfilm, microfiche or other reproduction process and the originals may be destroyed; and each party agrees that any reproductions shall be as admissible in evidence in any judicial or administrative proceeding as the original itself (whether or not the original is in existence and whether or not reproduction was made in the regular course of business), and that any further reproduction of such reproduction shall likewise be admissible. If any payment in the nature of interest provided for in this Lease shall exceed the maximum interest permitted under controlling law, as established by final judgment of a court, then such interest shall instead be at the maximum permitted interest rate as established by such judgment.

  • Specific Shall Not Limit General; Construction No specific provision contained in this Note shall limit or modify any more general provision contained herein. This Note shall be deemed to be jointly drafted by the Company and the Holder and shall not be construed against any person as the drafter hereof.

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