Revesting Prior to Issuance of Release of Construction Covenants Sample Clauses

Revesting Prior to Issuance of Release of Construction Covenants. Prior to the issuance of a Release of Construction Covenants in accordance with Section 324 of the DDA for the Improvements to be constructed on the Premises, upon the revesting in Landlord of the leasehold estate in the Leased Premises, Landlord shall use its best efforts to re-lease or sell the Leased Premises as soon as possible and in such manner as Landlord shall find feasible to a qualified and responsible party or parties (as reasonably determined by Landlord) as shall be reasonably satisfactory to Landlord, who will assume the obligation of making or completing the Improvements, or such other improvements in their stead, or operate and maintain the Improvements on the Leased Premises, or otherwise use the Premises and in accordance with the uses specified for the Leased Premises. Tenant shall have the right to secure prospective purchasers meeting the qualifications set forth in this section and Landlord agrees that it will not unreasonably withhold its consent to the sale or lease of the Leased Premises to any prospective purchaser/lessee secured by Tenant who qualifies as a “permitted assignee” under Section 9.1. Upon such re-leasing or sale of the Leased Premises, the proceeds thereof shall be applied:
Sample 1
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Related to Revesting Prior to Issuance of Release of Construction Covenants

  • Waiver of Rule of Construction Each Party has had the opportunity to consult with counsel in connection with the review, drafting and negotiation of this Agreement. Accordingly, the rule of construction that any ambiguity in this Agreement shall be construed against the drafting Party shall not apply.

  • MONITORING OF CONSTRUCTION 13.1 Monthly progress reports During the Construction Period, the Concessionaire shall, no later than 7 (seven) days after the close of each month, furnish to the Authority and the Independent Engineer a monthly report on progress of the Construction Works and shall promptly give such other relevant information as may be required by the Independent Engineer.

  • 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.

  • Rule of Construction No rule of construction requiring interpretation against the drafting Party hereof shall apply in the interpretation of this Agreement.

  • Governing Law; Severability; Rules of Construction This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word “may” gives sole discretion without any obligation to take any action.

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

  • 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.

  • Commencement and Completion of Construction The Company shall begin Construction Activities no later than January 1, 2014 (“Commencement Date”) and secure a final Certificate of Compliance by June 30, 2015 (hereinafter, “Completion Date”).

  • Definitions and Rules of Construction 1.1 Unless otherwise defined herein, the following capitalized terms shall have the following meanings:

  • No Rule of Construction All of the parties hereto have been represented by counsel in the negotiations and preparation of this Agreement; therefore, this Agreement will be deemed to be drafted by each of the parties hereto, and no rule of construction will be invoked respecting the authorship of this Agreement.

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