Rejection of the Project Agreement Sample Clauses

Rejection of the Project Agreement. (a) If the Project Agreement is rejected by a trustee or debtor-in-possession in, or terminated as a result of, any bankruptcy or insolvency proceeding involving Developer and, within 150 Days after such rejection or termination, the Collateral Agent shall so request and shall certify in writing to the Authority that the Collateral Agent or the Collateral Agent's permitted designee or assignee, including a Qualified Substitute Developer, intends to perform the obligations of Developer as and to the extent required under the Project Agreement, the Authority will execute and deliver to the Collateral Agent (or any Substitute satisfying the requirements of this Agreement if directed to do so by the Collateral Agent) a new project agreement. The new project agreement shall contain conditions, agreements, terms, provisions and limitations which are the same as those of the Project Agreement, except for any obligations that have been fulfilled by Developer, any party acting on behalf of or stepping-in for Developer or the Collateral Agent prior to such rejection or termination. References in this Agreement to the “Project Agreement” shall be deemed also to refer to any such new project agreement.
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Related to Rejection of the Project Agreement

  • Completion of the Project The Contracting Party shall complete the construction, equipping and furnishing of the Improvements in accordance with the Plans and submit to the Board a Certificate of Completion on or before November 1, 2016.

  • CONSTRUCTION OF THE PROJECT The Allottee has seen the proposed layout plan, specifications, amenities and facilities of the Apartment/ Plot and accepted the floor plan, payment plan and the specification, amenities and facilities annexed along with this Agreement which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop the Project in accordance with the said layout plans, floor plans and specifications, amenities and facilities. Subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent authorities and shall also strictly abide by the bye-laws, FAR, and density norms and provisions prescribed by the relevant building bye-laws and shall not have an option to make any variation/ alteration/ modification in such plans, other than in the manner provided under the Act, and breach of this term by the Promoter shall constitute a material breach of this Agreement.

  • Execution of the Project Section 3.01. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement, and, to this end, shall carry out the Project with due diligence and efficiency and in conformity with appropriate administrative, financial, banking, accounting and environmental practices, and shall provide, promptly as needed, the funds, facilities, services and other resources required for the Project.

  • COMMENCEMENT AND COMPLETION OF THE PROJECT Section 3.01 The Project

  • Upon completion of the Project the Recipient shall make a full and complete accounting to the OPWC of the Eligible Project Cost.

  • Completion of the Work The Contractor must obtain Material Completion as defined in Section 6.1.2 below prior to any occupancy of the Project.

  • CONSTRUCTION OF THE PROJECT/ APARTMENT The Allottee has seen the proposed layout plan, specifications, amenities and facilities of the [Apartment/Plot] and accepted the floor plan, payment plan and the specifications, amenities and facilities [annexed along with this Agreement] which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop the Project in accordance with the said layout plans, floor plans and specifications, amenities and facilities. Subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent Authorities and shall also strictly abide by the bye-laws, FAR and density norms and provisions prescribed by the [Please insert the relevant State laws]and shall not have an option to make any variation /alteration / modification in such plans, other than in the manner provided under the Act, and breach of this term by the Promoter shall constitute a material breach of the Agreement.

  • Duration of the Project includes the time from the beginning of the work on the Project until the Contractor's/person's work on the Project has been completed and accepted by the Owner.

  • CONSTRUCTION OF THE BUS TERMINAL 12.1 Obligations prior to commencement of construction Prior to commencement of Construction Works, the Concessionaire shall:

  • Construction Development of the Project The Allottee has seen the proposed layout plan/demarcation-cum-zoning/sanctioned plans, / site plan / building plan, specifications, amenities and facilities, etc. depicted in the advertisement / brochure / agreement / website (as the case may be) regarding the Project where the Said Independent Floor for residential usage along with parking is located and has accepted the floor / site plan, Payment Plan and the specifications, amenities, facilities, etc. [annexed along with this Agreement] which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop the Project in accordance with the bye-laws such as Haryana Building Code, 2017, FAR, density norms, provisions prescribed, approved plans, terms and condition of the license/ allotment as well as registration of RERA, etc. Subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent authorities and shall also strictly abide by the provisions and norms prescribed by the relevant State laws and shall not have an option to make any variation/ alteration/ modification in such plans, other than in the manner provided under the Act and Rules made thereunder or as per approvals/instructions/ guidelines of the competent authorities, and any breach of this term by the Promoter shall constitute a material breach of the Agreement.

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