Commenced Construction definition

Commenced Construction means (a) all of the following site preparation work is completed: ingress and egress routes exist; the site on which the Project will be located is cleared and graded; there is power service to the site; footings are prepared; and foundations have been poured consistent with purchased equipment specifications and project design; or (b) the following financial commitments have been made: (i) (A) an engineering, procurement, and construction contract (“EPC”) has been executed by all parties and is effective; or (B) contracts (collectively, “EPC Equivalents”) for all of the following have been executed by all parties and is effective: (1) project engineering, (2) procurement of all major equipment, and (3) construction of the Project, and (ii) the cumulative payments made by the Developer under the EPC or EPC Equivalents to the counterparties to those respective agreements is equal to at least thirty (30) percent of the total costs of the EPC or EPC Equivalents.

Commenced Construction means that the owner or operator of a stationary source has an Authority to Construct or a Determination of Compliance issued pursuant to these rules and regulations and either has:

Commenced Construction means (a) all of the following site preparation work is completed: ingress and egress routes exist; the site on which the project will be located is cleared and graded; there is power service to the site; footings are prepared; and foundations have been poured consistent with purchased equipment specifications and project design; or (b) as approved by the ISO in accordance with ISO Procedures, a financial commitment comparable to (a) has been made, which includes costs incurred, and costs of cancelling, discontinuing, or suspending the project; and may consist of a combination of actions or commitments. Such actions or commitments may include: major equipment has been purchased; an engineering, procurement, and construction contract for the project has been executed by all parties and is effective; or financing has been completed.

Examples of Commenced Construction in a sentence

• The Township shall also be entitled to terminate the Redeveloper’s designation as Redeveloper for any other Phases of the Redevelopment Project as defined and pursuant to the Redevelopment Agreement, so long as the Redeveloper has not entered into a Mortgage (as defined in the Redevelopment Agreement) with respect to such Phase or has otherwise Commenced Construction of such Phase in accordance with the terms of the Redevelopment Agreement.

• After Tenant has Commenced Construction of the Improvements, such construction shall be diligently prosecuted so that the affected portion of the Premises shall not remain in a partly finished condition any longer than is reasonably necessary.

• Any termination under this Agreement shall concurrently effect a termination of the Approvals with respect to the terminated portion of the Project Site, except as to any Approval pertaining to a Building that has Commenced Construction in reliance thereon.

• Tenant shall cause the Completion of Construction to occur within the Construction Period commencing from the date the Tenant has Commenced Construction.

• To the extent that a Default by Redeveloper occurs which is specific only to a particular Phase of the Project, such Default shall not be considered a Default with respect to any other Phase which has both Commenced Construction and obtained third-party financing in the form of a Permitted Mortgage.

More Definitions of Commenced Construction

Commenced Construction means that all of the following conditions were met: the final working drawings and specifications were approved by the commissioner of health; the construction contracts were let; a timely construction schedule was developed, stipulating dates for beginning, achieving various stages, and completing construction; and all zoning and building permits were applied for.

Commenced Construction means that the owner/operator has obtained all governmental approvals or permits required to begin physical construction and has either (1) begun a continuous on-site physical construction program; or (2) entered into contractual obligations which cannot be canceled or modified without substantial loss and are payable upon physical construction of the facility.

Commenced Construction means (a) all of the following site preparation work is completed: ingress and egress routes exist; the site on which the project will be located is cleared and graded; there is power service to the site; footings are prepared; and foundations have been poured consistent with purchased equipment specifications and project design; or (b) as approved

Commenced Construction means that the owner or operator has all the necessary preconstruction approvals or permits and either has:

Commenced Construction means (a) all of the following site preparation work is completed: ingress and egress routes exist; the site on which the project will be located is cleared

Commenced Construction means initiation of and continuous activi- ties beyond site preparation associated with erecting or modifying a health care facility, including procurement of a building permit applying the use of agency-approved construction documents, proof of an executed owner/ contractor agreement or an irrevocable or binding forced account, and actual undertaking of foundation forming with steel installation and concrete plac- ing.

Commenced Construction shall have the meaning set forth in Section 3.3.4. “Comparable Improvements” shall mean improvements similar in kind and nature to the Improvements which are maintained in a first class manner and operated as a [permitted use].