The Construction Agent Delivery of Construction Budget Modifications Sample Clauses

The Construction Agent Delivery of Construction Budget Modifications. The Construction Agent covenants and agrees to deliver to the Agent each month notification of any modification to any Construction Budget regarding any Property if such modification increases the cost to construct such Property; provided no Construction Budget may be increased unless (a) the title insurance policies referenced in Section 5.3(g) are also modified or endorsed, if necessary, to provide for insurance in an amount that satisfies the requirements of Section 5.4(f) of this Agreement and (b) after giving effect to any such amendment, the Construction Budget remains in compliance with the requirements of Section 5.4(d) of this Agreement.
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The Construction Agent Delivery of Construction Budget Modifications. The Construction Agent covenants and agrees to deliver to the Agent on the first Business Day of each month during the Construction Period notification of any modification to any Construction Budget regarding any Property if such modification increases the cost to construct such Property unless any such modification increases the cost of construction in excess of $1,000,000, in which event such notification shall be provided to Agent within five (5) Business Days of such modification to the Construction Budget; except that no Construction Budget may be increased unless (a) the title insurance policies referenced in Section 5.3(g) are also modified or endorsed, if necessary, to provide for insurance in an amount that satisfies the requirements of Section 5.4(f) of this Agreement and (b) after giving effect to any such amendment, the Construction Budget remains in compliance with the requirements of Section 5.4(d) of this Agreement.
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The Construction Agent Delivery of Construction Budget Modifications. (a) The Construction Agent covenants and agrees to deliver to the Agent by the fifteenth (15th) day of each month (and if such day is not a Business Day, then by the next occurring Business Day) notification of any modification to the Construction Budget regarding the Property if such modification increases the cost to construct the Property over the Construction Budget as of the Closing Date; provided no Construction Budget may be increased unless (a) the title insurance policies referenced in Section 5.3(g) are also modified or endorsed, if necessary, to provide for insurance in an amount that satisfies the requirements of Section 5.4(f) and (b) after giving effect to any such amendment, the Construction Budget remains in compliance with the requirements of Section 5.4(d). (b) In the event any such modification to the Construction Budget regarding the Property that is not caused by any acts or failure to act of the Construction Agent increases the cost to construct the Property by such amount as would cause the Available Lender Commitments plus the Available Lessor Commitments to be insufficient to complete the Improvements, at the request of the Construction Agent, the Agent shall use all reasonable efforts to find lenders, financial institutions or other institutional investors willing to fund such additional amounts.
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The Construction Agent Delivery of Construction Budget Modifications. The Construction Agent may modify the Construction Budget if, but only if, the aggregate amount of unfunded cost pursuant to such modified Construction Budget does not exceed the sum of the Available Commitment plus the Available Holder Commitment. The Construction Agent covenants and agrees to deliver to the Agent each month notification of any modification to any Construction Budget regarding any Property if such modification materially increases the cost to construct such Property; provided no Construction Budget may be increased unless (a) the title insurance policies referenced in Section 5.3(g) are also modified or endorsed, if necessary, to provide for insurance in an amount that satisfies the requirements of Section 5.4(f) of this Agreement and (b) after giving effect to any such amendment, the Construction Budget remains in compliance with the requirements of Section 5.4(d) of this Agreement.
Sample 1
The Construction Agent Delivery of Construction Budget Modifications. The Construction Agent covenants and agrees to deliver to the Agent each month notification of any modification to any Construction Budget regarding any Property if such modification increases the cost to construct such Property by either (x) ten percent (10%) of the original Construction Budget when measured in the aggregate with all prior modifications to the Construction Budget for such Property or (y) an amount which exceeds the sum of the Available Commitments plus the Available Holder Commitments; provided no Construction Budget may be increased unless (a) the title insurance policies referenced in
Sample 1
The Construction Agent Delivery of Construction Budget Modifications. The Construction Agent covenants and agrees to deliver to the Collateral Agent each calendar quarter notification of any and all modifications to any Construction Budget regarding the Property; provided no Construction Budget may be increased unless (a) the title insurance policies referenced in Section 5.3(g) are also modified or endorsed, if necessary, to provide for insurance in an amount that satisfies the requirements of Section 5.4(g) of this Agreement and (b) after giving effect to any such increase, the projected Property Cost is less than or equal to $65,000,000 or such greater amount as the Total Commitments shall have been increased pursuant to Section 5.10 hereof.
Sample 1
The Construction Agent Delivery of Construction Budget Modifications. (a) The Construction Agent covenants and agrees to deliver to the Agent each month notification of any modification to the Construction Budget regarding the Property if such modification increases the cost to construct the Property over the Construction Budget as of the Closing Date; provided no Construction Budget may be increased unless (a) the title insurance policies referenced in Section 5.3(g) are also modified or endorsed, if necessary, to provide for insurance in an amount that satisfies the requirements of Section 5.4(f) of this Agreement and (b) after giving effect to any such amendment, the Construction Budget remains in compliance with the requirements of Section 5.4(d) of this Agreement. (b) In the event any such modification to the Construction Budget regarding the Property that is not caused by any acts or failure to act of the Construction Agent increases the cost to construct the Property by such amount as would cause the Available Tranche B Lender Commitments plus the balance of funds remaining in the Escrow Account to be insufficient to complete the Improvements, at the request of the Construction Agent, the Agent shall use all reasonable efforts to find lenders, financial institutions or other institutional investors (including without limitation any existing Tranche B Lenders) willing to fund such additional amounts with the consent of each of the Tranche A Noteholders.
Sample 1
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The Construction Agent Delivery of Construction Budget Modifications. The Construction Agent covenants and agrees to deliver to the Agent each month notification of any modification to any Construction Budget regarding any Property if such modification, when aggregated with all other modifications to such Construction Budget, evidences a cost increase of $100,000 or more or with respect to which the Available Commitments and the Available Holder Commitments (after deducting the Unfunded Amount) will be insufficient to complete the Improvements in accordance with the terms of the Agency Agreement); provided no Construction Budget may be increased unless (a) the title insurance policies referenced in Section 5.3(g) are also modified or endorsed, if necessary, to provide for insurance in an amount that satisfies the requirements of Section 5.4(f) of this Agreement and (b) after giving effect to any such amendment, the Construction Budget remains in compliance with the requirements of Section 5.4(d) of this Agreement.
Sample 1

Related to The Construction Agent Delivery of Construction Budget Modifications

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  • ICIF Construction The ICIF shall be designed and constructed in accordance with Good Utility Practice. Within one hundred twenty (120) Calendar Days after the Commercial Operation Date, unless the Parties agree on another mutually acceptable deadline, Interconnection Customer shall deliver to Transmission Provider and Transmission Owner “as-built” drawings, information and documents for the ICIF, such as: a one-line diagram, a site plan showing the Generating Facility and the ICIF, plan and elevation drawings showing the layout of the ICIF, a relay functional diagram, relaying AC and DC schematic wiring diagrams and relay settings for all facilities associated with the Interconnection Customer’s step-up transformers, the facilities connecting the Generating Facility to the step-up transformers and the ICIF, and the impedances (determined by factory tests) for the associated step-up transformers and the Generating Facility. Interconnection Customer shall provide Transmission Provider and Transmission Owner with Interconnection Customer’s specifications for the excitation system, automatic voltage regulator, Generating Facility control and protection settings, transformer tap settings, and communications, if applicable.

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