Common use of Timing of Construction Clause in Contracts

Timing of Construction. Seller agrees to finish the Unit and the Project according to the Plans within twenty-four (24) months after the Construction Commencement Milestone Deadline (defined in Section 5(c)(ii) below) and before the Substantial Completion Milestone Deadline, provided that Purchaser meets all terms and conditions of this Agreement including but not limited to timely payment of all Deposits to the Escrow Agent due in accordance with the Purchase Price payments schedule contained herein in section 2(a). In the event of construction delays of the Condominium and the Unit due to conditions beyond Seller´s control including natural physical events, lightning, tropical storms, hurricanes, tornados, floods, wind damage, earthquake, fires, the inability of the Seller to obtain construction materials or labor workforce on terms reasonably acceptable to the Seller directly attributable and due specifically to general market conditions, civil disturbances, transportation or production disasters, pandemics, epidemics, power or other public utility failures occurred in general, and other force majeure events and/or acts of God, or any other causes beyond the reasonable or practical control of Seller, the date in which construction of the Condominium and the Unit shall be substantially completed and the Closing Period shall be extended by a number of days equal to the delay.

Timing of Construction. Seller agrees to finish the Unit and the Project according to the Plans within twenty-four thirty (2430) months after the Construction Commencement Milestone Deadline (defined in Section 5(c)(ii6(c)(i) below) and before the Substantial Completion Milestone Deadline, provided that Purchaser meets all terms and conditions of this Agreement including but not limited to timely payment of all Deposits to the Escrow Agent due in accordance with the Purchase Price payments schedule contained herein in section 2(a). In the event of construction delays of the Condominium and the Unit due to conditions beyond Seller´s control including natural physical events, lightning, tropical storms, hurricanes, tornados, floods, wind damage, earthquake, fires, the inability of the Seller to obtain construction materials or labor workforce on terms reasonably acceptable to the Seller directly attributable and due specifically to general market conditions, civil disturbances, transportation or production disasters, pandemics, epidemics, power or other public utility failures occurred in general, and other force majeure events and/or acts of God, or any other causes beyond the reasonable or practical control of Seller, the date in which construction of the Condominium and the Unit shall be substantially completed and the Closing Period shall be extended by a number of days equal to the delay.