Substantial Completion of Improvements Sample Clauses

Substantial Completion of Improvements. Upon Substantial Completion of the Improvements, Borrower shall request an Advance in an amount equal to the estimated cost to complete the Punch List Items (the “Punch List Costs”), as determined by Administrative Agent and the Independent Engineer in their sole discretion, multiplied by 125% (collectively, the “Punch List Items Funds”) minus the amounts available for disbursement in the Borrower Construction Account and under the Loan Agreements to pay such costs. If at any time Administrative Agent reasonably determines that the amount remaining in the Borrower Construction Account will not be sufficient to complete the Punch List Items, Administrative Agent shall notify Borrower of such determination and Borrower shall (in no less than five (5) Business Days of receipt of such notice) request an additional Advance or deposit additional funds into the Borrower Construction Account as required by Administrative Agent in its sole discretion. Collateral Agent shall disburse or cause to be disbursed out of the Borrower Construction Account to Borrower the Punch List Items Funds upon satisfaction by Borrower of each of the following conditions with respect to each such disbursement: (i) Borrower shall submit a written request for payment to Administrative Agent at least 10 Business Days prior to the date on which Borrower requests such payment to be made, which request shall specify the Punch List Item to be paid, (ii) on the date such request is received by Administrative Agent and on the date such payment is to be made, no Default or event which
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Substantial Completion of Improvements. Seller shall have substantially completed the Improvements in accordance with the Work Letter Agreement and Seller shall have received a temporary certificate of occupancy or its equivalent for the Improvements, unless Seller is prevented from obtaining a temporary certificate of occupancy as a result of any act or omission of Buyer or Buyer's employees, agents or contractors or as a result of Buyer's failure or delay in obtaining any necessary environmental permit related to Buyer's manufacturing use of the Property, including any necessary permit from SCAQMD. Any costs incurred by Buyer in examining and investigating the Property under this Agreement shall be at Buyer's sole cost and expense. During the five (5) day period between substantial completion of the Improvements and Closing, Buyer and Seller shall complete a walk-through of the Property and prepare and initial a punch-list of those items which remain incomplete, but are not material to substantial completion of the Improvements. Seller shall promptly obtain bids from the applicable subcontractors to complete such punch-list items and shall promptly cause the general contractor and subcontractors to complete such work. If the estimated cost of completing such punch-list exceeds $20,000, Seller shall withhold the estimated cost of completing such punch-list work from the final payment due the general contractor until such punch-list work is completed.
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Substantial Completion of Improvements. The improvements shall be deemed substantially complete upon Landlord's receipt of evidence, in the form of certificates of completion of licensed architects employed by Tenant that:
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Substantial Completion of Improvements. The term “Substantially Complete” or “Substantial Completion” means that the Finished Lot Improvements have been completed in accordance with the applicable CDs and all other requirements of this Contract such that Purchaser will not be precluded from obtaining building permits for Homes on all of the Lots. Following Substantial Completion, Seller shall complete the remainder of the Finished Lot Improvements such that Purchaser will not be precluded from obtaining certificates of occupancy following completion of Homes as a result of the degree of completion of such Finished Lot Improvements.
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Substantial Completion of Improvements. Tenant and Landlord acknowledge that Plans and specifications may not be in final form and may be modified. Both parties agree to work expeditiously to move forward to complete the work in accordance with plans and specifications. Landlord and Tenant further agree to conduct periodic reviews of work and completion status. Landlord shall complete work within 90 days of receipt of all required permits and approvals provided Tenant or Tenant's agents specifications or changes do not delay construction schedule, in which case, Landlord will use due diligence to complete work as soon as possible but will not be liable to complete work within 90 days.
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Substantial Completion of Improvements. The term “Substantially Complete” or “Substantial Completion” means that the Finished Lot Improvements have been completed in accordance with the applicable CDs, this Contract, the Lot Development Agreement, and, if applicable, the Joint Improvements Memorandum, to such a degree that Purchaser will not be precluded from obtaining building permits for homes on the Lots. Following Substantial Completion Seller shall complete the remainder of the Finished Lot Improvements such that Purchaser will not be precluded from obtaining certificates of occupancy following completion of Homes as a result of the degree of completion of such Finished Lot Improvements.
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Substantial Completion of Improvements. Sublandlord shall deliver the Sublease Premises to Subtenant with the Improvements "substantially complete," and otherwise in conformance with all applicable laws, rules, regulations and codes affecting the Sublease Premises and all underlying covenants, conditions and restrictions to which the Sublease Premises are subject, including without limitation the provisions of Section 16 of the Master Lease. The term "substantially complete" shall mean that Sublandlord has completed the Improvements, notwithstanding the fact that minor details of construction, mechanical adjustments or decoration which do not materially interfere with Subtenant's use of the Sublease Premises remain to be performed (items normally referred to as "punch-list" items). The "punch-list" items shall be completed by Sublandlord within thirty (30) days following the date such items on the "punch-list" have been agreed to by Sublandlord and Subtenant. The Sublease Premises shall be deemed to be "substantially complete" even though Subtenant's furniture, telephones, telecopier, computers, and other business machines or equipment have not been installed, the purchase and installation of which shall be Subtenant's sole responsibility.
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Substantial Completion of Improvements. The term “Substantially Complete” or “Substantial Completion” means that the Finished Lot Improvements for Lots acquired by Purchaser at a Closing have been substantially completed in accordance with the applicable CDs, the other applicable Entitlements, and all other applicable requirements of this Contract such that Purchaser will not thereby be precluded from obtaining building permits for such Lots and Seller has provided Purchaser written notice thereof. From and after Substantial Completion of the Lots acquired at a Closing hereunder, Seller shall complete such remaining improvements as are necessary so that Purchaser will not be precluded from obtaining certificates of occupancy for Homes constructed by Purchaser on such Lots, following Purchaser’s completion thereof.
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Substantial Completion of Improvements. “Substantial Completion” of improvements to terminate the above Construction Completion Repurchase Period shall mean, as it relates to Residential Improvements, that the Building Construction Document accordance with the so that residential tenants can occupy or use the Building Improvements for their intended use and that the Commercial Improvements are completed so commercial tenants can begin construction of their tenant Improvements.
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Related to Substantial Completion of Improvements

  • Completion of Improvements Within 90 days of completion of any construction herein permitted, Company will cause to be prepared and delivered to Authority record documents as required under the Tenant Work Permit process, including but not limited to as-builts, legal descriptions, boundary surveys, and certified final cost of construction. The submission of record document electronic media will be in accordance with Authority’s Standard Procedure for computer aided design and drafting and drawings, as may be revised from time to time.

  • Construction of Improvements (A) Lessee warrants and agrees that the Building will be constructed on the Leased Premises, and all other improvements to the land, including the parking lot, approaches, and service areas, will be constructed in all material respects by Lessee substantially in accordance with the plot, plans, and specifications heretofore submitted to Lessor.

  • Condition of Improvements The risk of destruction or substantial damage by fire or Act of God prior to delivery of deed is assumed by Seller. Xxxxxx agrees that on possession, the Real Estate shall be in the same condition as it is on the date of this contract, except for ordinary wear and tear. If the Real Estate should be damaged or destroyed by fire or other casualty and if, prior to Closing, the real Estate shall not be repaired or restored by and at the Sellers expense, to a condition as good as it was prior to the damage or destruction, then Purchaser, at his option, may terminate this contract by written notice to Seller and the Down Payment Shall be returned to Purchaser. While this contract is pending, Sellers shall not change any existing lease or enter into any new lease, nor make any substantial alterations or repairs without the consent of the Purchaser. In addition, the Purchaser also has an insurable interest in the property from date of this contract. Purchaser is hereby notified that insurance should be placed upon the property immediately to protect Purchasers’ interest.

  • Substantial Completion “Substantial Completion” means the stage in the progress of the Work when the Work, or designated portions thereof, may still require minor modifications or adjustments but, in the Owner’s opinion, the Work has progressed to the point such that all parts of the Work under consideration are fully operational and usable for intended purposes, as evidenced by a Certificate of Substantial Completion approved by the Owner. If a Certificate of Occupancy is required by public authorities having jurisdiction over the Work, said certificate shall be issued before the Work or any portion thereof is considered substantially complete. When the Contractor considers that the Work, or a portion thereof which the Owner agrees to accept separately, is substantially complete, the Contractor shall notify Owner’s Designated Representative (sometimes referred to as the “ODR”) and request a determination as to whether the Work or designated portion thereof is substantially complete. If the ODR does not consider the Work substantially complete, the ODR will notify the Contractor giving reasons therefore. Failure on the Owner’s part to list a reason does not alter the responsibility of the Contractor to complete all Work in accordance with the terms of this Agreement. After satisfactorily completing items identified by Owner’s Designated Representative, the Contractor shall then submit another request for the ODR to determine Substantial Completion. If The ODR considers the Work substantially complete, The ODR will prepare and deliver a certificate of Substantial Completion which shall establish the date of Substantial Completion, shall include a punch list of items to be completed or corrected before final completion and final payment, shall establish the time within which the Contractor shall finish the punch list, and shall establish responsibilities of the Owner and the Contractor for security, maintenance, heat, utilities, damage to the Work, warranty and insurance. Failure to include an item on the punch list does not alter the responsibility of the Contractor to complete all Work in accordance with the terms and conditions of this Agreement. The certificate of Substantial Completion shall be signed by the Owner and the Contractor to evidence acceptance of the responsibilities assigned to them in such certificate. Substantial Completion (as defined in this agreement) for all stages of the Work shall be achieved on or before the following Substantial Completion date: DATE FOR SUBSTANTIAL COMPLETION: TBD Under no circumstances will the time for Substantial Completion exceed this date without a written amendment to this Agreement. THE TIMES SET FORTH IN THE CONSTRUCTION DOCUMENTS ARE AN ESSENTIAL ELEMENT OF THE AGREEMENT. TIME LIMITS STATED IN THE CONTRACT DOCUMENTS ARE OF THE ESSENCE OF THIS AGREEMENT.

  • Delay of the Substantial Completion of the Premises Except as provided in this Section 5.2, the Lease Commencement Date shall occur as set forth in the Lease and Section 5.1, above. If there shall be a delay or there are delays in the Substantial Completion of the Premises or in the occurrence of any of the other conditions precedent to the Lease Commencement Date, as set forth in the Lease, as a direct, indirect, partial, or total result of:

  • Construction of Tenant Improvements After the Landlord and Ground Lessor (in accordance with Paragraph 12 hereof) approve Tenant’s Plans and Tenant receives any necessary building permits, Tenant shall administer and diligently prosecute the construction of Tenant Improvements in accordance with Tenant’s Plans, in compliance with applicable Laws, and using building standard material, subject to Landlord’s right, at its election, to itself construct the Restroom Improvements. All Tenant Improvements (other than, if applicable, the Restroom Improvements) shall be constructed by Tenant’s Contractor (and/or its subcontractors), and Tenant shall be responsible for project management with respect to construction of the Tenant Improvements. During construction of the Tenant Improvements, Tenant and its contractors and subcontractors (i) shall not interfere with the access to, use of, or business conducted within any other portions of the Project by other tenants or occupants, (ii) shall use diligent efforts to coordinate the timing of work, deliveries and other construction matters with tenants or occupants of the Project that could be adversely impacted by such work, deliveries and construction matters, including, without limitation, by scheduling work CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT WERE OMITTED AND REPLACED WITH “[***]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT OF 1933. that would create noise, vibrations, dust or other similar annoyances to other tenants or occupants of the Project outside normal business hours, notwithstanding any additional cost (for overtime or otherwise) that Tenant may incur, (iii) shall clean and secure construction and staging areas daily, (iv) shall stage all construction and store all construction materials and equipment in a location designated by Landlord (in Landlord’s sole discretion) on the Project, and (v) shall otherwise abide by all rules and requirements established or imposed by Landlord relating to the performance of the Tenant Improvements, including rules relating to any required shutdown of utilities (including life-safety systems), storage of materials, and coordination of work with other tenant’s or occupant’s contractors. Tenant shall not be charged any construction management fee for Landlord’s review of Tenant’s Plans or any oversight of the construction of the Tenant Improvements.

  • Construction of the Tenant Improvements Landlord shall construct the Tenant Improvements in accordance with this exhibit and the construction contract to be executed by Landlord and its contractor(s). The construction contract for constructing the Tenant Improvements and the contractor(s) to perform the work shall be approved and/or selected, as the case may be, by Landlord at its sole and absolute discretion without the consent of Tenant.

  • Cost of Tenant Improvements Unless specified otherwise herein, Landlord shall bear and pay the cost of the Tenant Improvements (which cost shall include, without limitation, the costs of construction, the cost of permits and permit expediting, and all architectural and engineering services obtained by Landlord in connection with the Tenant Improvements, the Contractor's fees, Landlord's fee for construction administration in an amount equal to the amount charged by any construction manager retained by Landlord (the "Construction Manager") up to a maximum of $6,121,750 (the "Tenant Improvement Allowance"). The Tenant Improvement Allowance shall be utilized only for building improvements to the Building (and Tenant's architect fees), and not for signage, furniture costs, any third party consulting or contracting fees, any telecom/cabling costs, or any other purpose. Tenant shall bear and pay the cost of the Tenant Improvements (including but not limited to all of the foregoing fees and costs) in excess of the Tenant Improvement Allowance, if any. The cost of the Tenant Improvements shall exclude the cost of furniture, fixtures and inventory and other items of Tenant's Work (as defined below). Notwithstanding the foregoing, the Tenant Improvement Allowance shall not be used for (and Tenant shall have no responsibility for) the following costs except to the extent any of the foregoing are caused by Tenant, are due to Tenant Delays or result from the failure of Tenant to comply with the terms of the Lease or this Work Letter: (1) Property Maintenance Costs prior to the Delivery Date; (2) charges for overtime, except to the extent approved by Tenant; (3) costs to correct construction defects; (4) costs incurred to enforce contracts or cure contractor or subcontractor defaults (including legal fees); or (5) principal or interest on construction loan obtained by Landlord for construction of the Tenant Improvements.

  • Tenant Improvements Subject to the terms and conditions hereof, Landlord agrees, at its cost and expense to complete a “turnkey” interior build-out (“Tenant Improvements”) of the Leased Premises in accordance with the conditions stated in the Work Letter attached hereto as Exhibit C and incorporated hereby pursuant to the Approved Final Plans to be finalized and approved in accordance with the Work Letter and upon approval attached thereto. Any changes or modifications to the Approved Final Plans thereafter must be done in writing and signed by both Tenant and Landlord in accordance with the Work Letter. So long as in accordance with Article 19 of this Lease, Tenant agrees that Landlord shall be entitled to select, in its reasonable discretion and acting in good faith, all architects, engineers, contractors and material suppliers necessary to furnish the labor and materials for the construction of the Tenant Improvements. Landlord shall be the sole contracting party with respect to the employment of contractors which perform the work necessary to construct the Tenant Improvements. Tenant shall not be entitled to access to the Leased Premises prior to the Date of Substantial Completion and Tenant shall not interfere with or impair in any material way the construction of the Tenant Improvements, and any such interference or impairment shall be included within a Tenant Delay as defined in the Work Letter and shall entitle Landlord to all remedies provided herein for breach of this Lease. Prior to the Possession Date, Tenant shall not enter into any contract for construction of any improvements within the Leased Premises with any person other than Landlord without Landlord's prior written consent. Tenant, at Tenant's expense, shall obtain and maintain any and all necessary permits and licenses to enable Tenant to conduct Tenant’s Permitted Use, and the failure of Tenant to obtain or maintain same shall not in any manner affect the Tenant’s obligations hereunder. Landlord shall be solely responsible, at its cost and expense, for obtaining all permits and approvals related to the Tenant Improvements.

  • TENANT'S IMPROVEMENTS If the Lessor is the Insuring Party, the Lessor shall not be required to insure Lessee Owned Alterations and Utility Installations unless the item in question has become the property of Lessor under the terms of this Lease. If Lessee is the Insuring Party, the policy carried by Lessee under this Paragraph 8.3 shall insure Lessee Owned Alterations and Utility Installations.

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