Initial Construction Costs definition
Examples of Initial Construction Costs in a sentence
To the extent that Initial Construction Costs cannot be directly assigned to Sunrise, Equitrans or its Designee may incur such costs and Sunrise shall fully reimburse Equitrans or its Designee for any expenses so incurred, as set forth more fully in the Construction Management Agreement included in this Lease Agreement as Attachment B.
Licensor shall manage the Approved Contractors in connection with the initial construction and/or conversion of each Branded Retail Store in exchange for a fee (the “Construction Management Fee”) in an amount equal to [***] of the Initial Construction Costs, which Construction Management Fee shall be payable from time to time as and when payments are made to the Approved Contractors.
The SBL Proceeds shall be deposited into a segregated City account for the payment or reimbursement of the Initial Construction Costs or Operations and Maintenance Costs of the Ballpark, as set forth in the documents relating to the Stadium Builder Licenses.
In the event the Landlord shall terminate this Lease during the current lease term or any renewal term, or if the Tenant shall terminate the Lease during any renewal term (that is, after June 30, 2029), then in that event Landlord shall pay to the Tenant the unamortized Initial Construction Costs as determined in accordance with the amortization chart attached as Exhibit C.
Funds deposited to the Excess Tax Revenue Account pursuant to this section shall be used to pay or reimburse the Tenant for the Initial Construction Costs of the Ballpark.