Common use of Time of Essence; Notice to Proceed Clause in Contracts

Time of Essence; Notice to Proceed. 4.1.1. Time is of the essence of this Contract. 4.1.2. Authorization allowing TSP to proceed with Work hereunder shall be provided through issuance of the NTP. 4.1.3. The Joint Board shall not issue the NTP unless and until the following requirements for the Project have been satisfied: (a) TSP shall have delivered to the Joint Board the Performance Bond required pursuant to Section 8.1.1; (b) TSP shall have delivered to the Joint Board the Payment Bond required pursuant to Section 8.1.2; (c) TSP shall have delivered to the Joint Board the Guaranty of TSP’s obligations pursuant to the Contract Documents, substantially in the form of Exhibit Z; (d) TSP shall have provided to the Joint Board the insurance policies, certificates of insurance, riders to its existing insurance policies or other evidence reasonably required by the Joint Board to confirm the existence of all the insurance coverages required pursuant to Section 9; (e) The Joint Board shall have approved any changes to the Key Personnel pursuant to Section 7.3.1; (f) The Source Code Escrow shall be in place pursuant to Section 20.6.3 and shall be in full force and effect; (g) TSP shall have provided to the Joint Board any other documents, things or assurances reasonably required by the Contract Documents.

Time of Essence; Notice to Proceed. 4.1.1. Time is of the essence of this Contract; provided, however, that TSP shall remain entitled to any cure periods expressly set forth in Section 16 hereof. 4.1.2. Authorization allowing TSP to proceed with Work hereunder shall be provided through issuance of the NTP. 4.1.3. The Joint Board shall not issue the NTP unless and until the following requirements for the Project have been satisfied: (a) TSP shall have delivered to the Joint Board the Performance Bond required pursuant to Section 8.1.1; (b) TSP shall have delivered to the Joint Board the Payment Bond required pursuant to Section 8.1.2; (c) TSP shall have delivered to the Joint Board the Guaranty of TSP’s obligations pursuant to the Contract Documents, substantially in the form of Exhibit Z; (d) TSP shall have provided to the Joint Board the insurance policies, certificates of insurance, riders to its existing insurance policies or other evidence reasonably required by the Joint Board to confirm the existence of all the insurance coverages required pursuant to Section 9; (e) The Joint Board shall have approved any changes to the Key Personnel pursuant to Section 7.3.1; (f) The Source Code Escrow shall be in place pursuant to Section 20.6.3 and shall be in full force and effect; (g) TSP shall have provided to the Joint Board any other documents, things or assurances reasonably required by the Contract Documents.