The New Facility Sample Clauses
The New Facility. 4.1. Navios agree to design, finance, construct, commission, operate and maintain the New Facility as further described in Annexure 1 to this Contract. The New Facility will be designed to be capable of providing the Services for up to five million (5,000,000) tons of Cargo per annum. The New Facility shall be designed to have the potential to double its capacity, subject to further expansion and further terms to be mutually agreed between the Parties. Notwithstanding the foregoing, it is the parties’ intention that the Services be provided for transhipping six million (6,000,000) tons of Cargo per annum.
The New Facility. (1) Entrada has commenced the construction of a new building (referred to in the Agreement and hereinafter, as the "FIRST NEW BUILDING") of approximately 70,000 square feet, for the production of its clients' products. Approximately 35,000 square feet of the First New Building (Modules 2 and 3 thereof) will be dedicated to CLIENT's Production Operations. The facility fee for Modules 2 and 3 (the "FIRST NEW BUILDING FACILITY FEE") shall be US [**] cents per square foot per month. The floor plan of the First New Building is attached hereto as Exhibit A-2. The construction period for the First New Building is expected to be approximately [**] months in duration. Entrada intends to complete the interior of the First New Building on or about April 1, 2007, at which time Client shall be able to begin to install its Equipment. Entrada intends to substantially complete the First New Building on or about May 1, 2007. CLIENT shall commence paying the First New Building Facility Fee once its Production Operations can reasonably begin in the First New Building.
(2) If requested in writing by Client within the twelve (12) months following the date of execution of the Agreement, Entrada will construct a second building (referred to in the Agreement and hereinafter, as the "SECOND NEW BUILDING") of 35,000 square feet of manufacturing space in a building immediately adjacent to the First New Building pursuant to a floor plan substantially similar to the one attached hereto as Exhibit A-2, unless otherwise requested in writing by Client.
(3) The Second New Building would be built and leased under terms and conditions substantially similar to the First New Building with the sole exception being that the Facility Fee for the Second New Building would be negotiated in good faith between the parties prior to the expiration of the twelve month period. If the parties can not reach agreement, then Entrada's obligation to reserve the land for the construction of NxStage's Second New Building terminates.
(4) Unless otherwise agreed by the parties in writing, the construction period for the Second New Building will be approximately [**] months from construction commencement notice to completion, and CLIENT shall commence paying the Second New Building Facility Fee, in addition to the Facility Fee that is due with respect to any other Facility that is used for its Production Operations, as of the date that CLIENT's Production Operations can reasonably begin in the Second New Building...
The New Facility