Common use of Required Completion Date Clause in Contracts

Required Completion Date. The Shareholder shall cause the Work (other than decorative work such as painting, wallpapering and carpeting) to be completed as expeditiously as possible, but in no event after the date set forth in the Consent Letter (the "Required Completion Date"). The Corporation expresses no opinion regarding the feasibility of completion of the Work within that time period. If the Work (other than decorative work as aforesaid) shall not be completed on or before the Required Completion Date, the Shareholder shall be entitled to not more than 5 additional, consecutive days (excluding weekends and holidays) to complete the Work (the "Extension Period") provided that and conditioned upon the payment by Shareholder to the Corporation, at least five (5) days before the Required Completion Date, the sum of $ per day (excluding weekends and holidays) as consideration for each additional working day in the Extension Period. The Shareholder acknowledges that this payment is made in consideration for the Corporation's amending its initial consent to the Work; it being agreed by the parties that the initial consent, is granted pursuant to the Lease and reliance upon the Work being completed by the Required Completion Date, and that such timely completion was a material inducement to the Corporation's consent to the proposed Work. After the Extension Period, there will be no further extensions, unless otherwise agreed to in writing by the Corporation. The determination of whether the Work is completed shall be made by the Corporation in its sole judgment, and the Corporation's determination shall be conclusive.

Required Completion Date. The Shareholder shall cause the Work (other than decorative work such as painting, wallpapering and carpeting) to be completed as expeditiously as possible, but in no event after the date set forth in the Consent Letter (the "Required Completion Date"). The Corporation expresses no opinion regarding the feasibility of completion of the Work within that time period. If the Work (other than decorative work as aforesaid) shall not be completed on or before the Required Completion Date, the Shareholder shall be entitled to not more than 5 additional, consecutive days (excluding weekends and holidays) to complete the Work (the "Extension Period") provided that and conditioned upon the payment by Shareholder to the Corporation, at least five (5) days before the Required Completion Date, the sum of $ per day (excluding weekends and holidays) as consideration for each additional working day in the Extension Period. The Shareholder acknowledges that this payment is made in consideration for the Corporation's amending its initial consent to the Work; it being agreed by the parties that the initial consent, is granted pursuant to the Lease and reliance upon the Work being completed by the Required Completion Date, and that such timely completion was a material inducement to the Corporation's consent to the proposed Work. After the Extension Period, there will be no further extensions, unless otherwise agreed to in writing by the Corporation. The determination of whether the Work is completed shall be made by the Corporation in its sole judgment, and the Corporation's determination shall be conclusive.

Required Completion Date. The Shareholder shall cause the Work (other than decorative work such as painting, wallpapering and carpeting) to be completed as expeditiously as possible, but in no event after the date set forth in the Consent Letter (the "“Required Completion Date"”). The Corporation expresses no opinion regarding the feasibility of completion of the Work within that time period. If the Work (other than decorative work as aforesaid) shall not be completed on or before the Required Completion Date, the Shareholder shall be entitled to not more than 5 additional, consecutive days (excluding weekends and holidays) to complete the Work (the "“Extension Period"”) provided that and conditioned upon the payment by Shareholder to the Corporation, at least five (5) days before the Required Completion Date, the sum of $ per day (excluding weekends and holidays) as consideration for each additional working day in the Extension Period. The Shareholder acknowledges that this payment is made in consideration for the Corporation's ’s amending its initial consent to the Work; it being agreed by the parties that the initial consent, is granted pursuant to the Lease and reliance upon the Work being completed by the Required Completion Date, and that such timely completion was a material inducement to the Corporation's ’s consent to the proposed Work. After the Extension Period, there will be no further extensions, unless otherwise agreed to in writing by the Corporation. The determination of whether the Work is completed shall be made by the Corporation in its sole judgment, and the Corporation's determination shall be conclusive.

Required Completion Date. The Shareholder shall cause the Work (other than decorative work such as painting, wallpapering and carpeting) to be completed as expeditiously as possible, but in no event after the date set forth in the Consent Letter (the "“Required Completion Date"”). The Corporation expresses no opinion regarding the feasibility of completion of the Work within that time period. If the Work (other than decorative work as aforesaid) shall not be completed on or before the Required Completion Date, the Shareholder shall be entitled to not more than 5 30 additional, consecutive days (excluding weekends and holidays) to complete the Work (the "“Extension Period"”) provided that and conditioned upon the payment by Shareholder to the Corporation, at least five (5) days before the Required Completion Date, the sum of $ $200.00 per day (excluding weekends and holidays) as consideration for each additional working day in the Extension Period. The Shareholder acknowledges that this payment is made in consideration for the Corporation's ’s amending its initial consent to the Work; it being agreed by the parties that the initial consent, is granted pursuant to the Lease and reliance upon the Work being completed by the Required Completion Date, and that such timely completion was a material inducement to the Corporation's ’s consent to the proposed Work. These amounts are also acknowledged and agreed to be liquidated damages, and not a penalty, to compensate the Corporation and the Shareholders for the costs and inconvenience of the continuation of the Work, it being understood that the damages caused by continuation of the Work beyond the Completion Date would be difficult to determine, and the foregoing liquidated damages constitutes fair and reasonable damages. After the Extension Period, there will be no further extensions, unless otherwise agreed to in writing by the Corporation. The determination of whether the Work is completed shall be made by the Corporation in its sole judgment, and the Corporation's ’s determination shall be conclusive.

Required Completion Date. The Shareholder shall cause the Work (other than decorative work such as painting, wallpapering and carpeting) to be completed as expeditiously as possible, but in no event after the date set forth in the Consent Letter (the "Required Completion Date"). The Corporation expresses no opinion regarding the feasibility of completion of the Work within that time period. If the Work (other than decorative work as aforesaid) shall not be completed on or before the Required Completion Date, the Shareholder shall be entitled to not more than 5 ______ additional, consecutive days (excluding weekends and holidays) to complete the Work (the "Extension Period") provided that and conditioned upon the payment by Shareholder to the Corporation, at least five (5) days before the Required Completion Date, the sum of $ $___________ per day (excluding weekends and holidays) as consideration for each additional working day in the Extension Period. The Shareholder acknowledges that this payment is made in consideration for the Corporation's amending its initial consent to the Work; it being agreed by the parties that the initial consent, is granted pursuant to the Lease and reliance upon the Work being completed by the Required Completion Date, and that such timely completion was a material inducement to the Corporation's consent to the proposed Work. After the Extension Period, there will be no further extensions, unless otherwise agreed to in writing by the Corporation. The determination of whether the Work is completed shall be made by the Corporation in its sole judgment, and the Corporation's determination shall be conclusive.