Symantec Completion Covenant Clause Samples

Symantec Completion Covenant. At the expense of Symantec or parties other than TST, Symantec agrees to use its diligent efforts to cause the completion (the "Symantec Completion Covenant") prior to the First Closing Scheduled Date the construction items specified in subsection (ii) below (the "Remaining Construction Items"). In order to satisfy the Symantec Completion Covenant either (a) or (b) below of this subsection (i) shall have occurred: (a) The Remaining Construction Items have been completed to TST's reasonable satisfaction or (b) if TST reasonably believes that one or more of such construction items have not been properly completed, TST has (1) given notice to Symantec not later than five (5) business days prior to the First Closing Scheduled Date specifying as follows: (x) with particularity which items TST believes have not been properly completed, (y) the reasons for such belief and (z) the amount TST estimates should be reserved not to exceed Thirty Five Thousand Dollars ($35,000) (the "Completion Reserve) in order to properly complete such items, and (2) Symantec or its designee has instructed Escrow Holder to disburse to TST from funds otherwise payable to Symantec or its designee a sum equal to the Completion Reserve.