Term of Facilities Lease. The terms of this Facilities Lease relating to preconstruction services shall be effective upon its execution. With respect to its other terms, the Term of this Facilities Lease shall commence with the District issuing a Notice to Proceed, and shall remain in effect through the period during which District's obligation to make the Lease Payments under this Facilities Lease is in effect, as provided for in Article 4.5 of this Facilities Lease, unless terminated earlier pursuant to Article 4 of this Facilities Lease.
Term of Facilities Lease. The term of this Facilities Lease shall commence as of the effective date stated above, and shall continue until the Expiration Date.
Term of Facilities Lease. The Term of this Facilities Lease shall be 26 months, consisting of the total of the time to construct the Project and to perform a post-construction period of 12 consecutive months, subject to the right of the District to terminate earlier in accordance with this Facilities Lease. If the time to complete construction of the Project is extended or delayed, then the Term shall be extended in a corresponding amount to allow for the full 12-month post-construction period; the monthly lease payments for the post-construction period shall not change if the Term is extended, except that, if the delay or extension is the result of a District-caused action or delay during construction, then the parties shall meet and confer in good faith regarding any additional financing costs. The term shall commence on July 1, 2017 (the “Commencement Date”). The District shall have obtained the DSA approval of the plans on or before the execution of this Facilities Lease.
Term of Facilities Lease. The Term of this Facilities Lease shall commence with the District issuing a Notice to Proceed for a particular Site, and shall remain in effect through the period during which District's obligation to make the Lease Payments under this Facilities Lease is in effect, as provided for in Article 4.5 of this Facilities Lease, unless terminated earlier pursuant to Article 4 of this Facilities Lease.
Term of Facilities Lease. The Term of this Facilities Lease shall be Eight (8) months, consisting of the total of the time a) to perform Phase I, Preconstruction Services, estimated to require months, b) five (5) consecutive months to construct the Project, and c) to perform a post-construction period of three (3) consecutive months, subject to the right of the District not to implement Phase II or to terminate earlier in accordance with this Facilities Lease. If the time to complete Preconstruction Services is extended or delayed, then the Term shall be extended a corresponding amount. If the time to complete construction of the Project is extended or delayed, then the Term shall be extended in a corresponding amount to allow for the full 3-month post- construction period; the monthly lease payments for the post-construction period shall not change if the Term is extended, except that, if the delay or extension is the result of a District-caused action or delay during construction, then the parties shall meet and confer in good faith regarding any additional financing costs. The term shall commence on April 18, 2017 (the “Commencement Date”).
Term of Facilities Lease. The term of this Facilities Lease shall commence as of the Execution Date (the “Commencement Date”). This Facilities Lease shall terminate on the date immediately preceding the 50th anniversary of the Commencement Date (“Lease Term”).
4.1. Subject to any rights of any mortgagee of interests in the 2024 Tax-Exempt Facilities, Lessee shall have the right to purchase the 2024 Tax-Exempt Facilities as follows: (i) if any of the Series 2024A Bonds have not been paid in full and are Outstanding, for the greater of (a) the amount necessary to pay the Series 2024A Bonds in full or (b) the then fair market value of the 2024 Tax-Exempt Facilities at the time the right to purchase is exercised as determined by an appraiser or (ii) after all of the Series 2024A Bonds have been paid in full and are not Outstanding, an amount equal to the then fair market value of the 2024 Tax-Exempt Facilities at the time the right to purchase is exercised as determined by an appraiser. Such right must be exercised (if at all) in writing and at least one hundred twenty (120) days prior to the intended acquisition date, which intended acquisition date must be prior to the earlier of the expiration of the Lease Term and the term of the Ground Lease. At the time the right to purchase is exercised, the then fair market value of the 2024 Tax-Exempt Facilities shall be appraised. Such appraisal shall be performed by a qualified appraiser procured by Lessor in accordance with the requirements of the Texas Professional Services Procurement Act, Chapter 2254, Texas Government Code and as required by §60.412(c), Water Code. Lessor shall proceed to procure an appraiser and designated sub-consultants as necessary to perform the appraisal of the fair market value of the 2024 Tax-Exempt Facilities based upon the most current edition of the Appraisal Institute Uniform Standards of Professional Appraisal Practices and any applicable state law for appraisal of industrial assets such as the 2024 Tax-Exempt Facilities. The appraisal report shall be a “self-contained narrative report” and must note onsite inspection of the 2024 Tax-Exempt Facilities by the appraiser, and the appraisal report shall be executed by the primary certified appraiser handling the preparation of and the recitation of the appraised value(s) as presented in the appraisal report. Such appraiser shall be responsible for all analysis and conclusions notwithstanding that such analysis and conclusions are in part generated through the c...
Term of Facilities Lease. The Term of this Facilities Lease shall commence as of the Effective Date (so long as the Site Lease is executed) and shall terminate on the completion of the Project and payment of the last Lease Payment. Upon completion of the Project and payment of the last Lease Payment, Contractor shall execute and deliver a quitclaim deed for recordation with the County Recorder, thereby granting, remising, releasing, and forever quitclaiming any and all interest in the Project or the Site to the District.
Term of Facilities Lease. The Term of this Facilities Lease shall be Twenty-Eight (28) months, consisting of the total of the time to achieve Substantial Completion of each portion of construction and a post-construction period commencing at Substantial Completion of each portion and ending Twelve (12)_consecutive months after Substantial Completion of Portion 2, subject to the right of the District to terminate earlier in accordance with this Facilities Lease. If the time to complete construction of the Project is extended or delayed, the post-construction period of the Lease Term shall be extended in a corresponding amount, with a corresponding extension of the applicable monthly lease payments at no added financing costs chargeable to the District, except that, if the delay or extension is the result of a District-caused action or delay, the parties shall meet and confer in good faith regarding any additional financing costs. The term
Term of Facilities Lease. The Term of this Facilities Lease shall be forty-four
Term of Facilities Lease. The Term of this Facilities Lease shall be forty-six (46) months consisting of the total of the time a) to perform Preconstruction Services, estimated to require seven (7) months, b) twenty-seven (27) months to construct the Project, including punchlist and project acceptance, and c) the post-construction lease period of twelve (12) consecutive months following completion of the Project, subject to the right of the District to terminate earlier in accordance with this Facilities Lease. If the time to complete Preconstruction Services is extended or delayed, then the Term shall be extended a corresponding amount. If the time to complete construction of the Project is extended or delayed, then the Term shall be extended in a corresponding amount to allow for the full twelve (12) month post-construction lease period; the monthly lease payments for the post-construction period shall not change if the Term is extended, except that, if the delay or extension is the result of a District-caused action or delay during construction, then the parties shall meet and confer in good faith regarding any additional financing costs. The term shall commence on Month, Day, Year (the “Commencement Date”).
