Examples of Initial Construction Work in a sentence
In connection with the performance of the Base Building Work and Tenant’s Initial Construction Work, Landlord shall be responsible for compliance with the Americans with Disabilities Act, the cost of which compliance in as far as it relates to Tenant’s Initial Construction Work shall be included in Additional Rent pursuant to Sections 4.2.5 and 4.2.6.
Borrower shall diligently perform the Initial Construction Work using all commercially reasonable efforts in accordance with the Initial Construction Schedule.
Upon Completion of all Initial Construction Work, any funds remaining in the Hard Cost Contingency line item which are attributable, in Lender’s sole discretion, to verified Hard Costs savings may be, at Borrower’s option, reallocated from the Hard Cost Contingency to the Soft Cost Contingency.
The Initial Borrower’s Architect having primary responsibility for the design of the Project Improvements and such other design professionals as Lender may require shall have provided Lender with a certificate regarding the Project Improvements, the Project Plans and Specifications and the Initial Construction Work satisfactory in form and substance to Lender.
Lender shall have received and approved two (2) sets of the Project Plans and Specifications for the Initial Construction Work.
Enter upon and take possession of the Mortgaged Property and all material, equipment and supplies thereon and do anything necessary or desirable to complete the Initial Construction Work and to fulfill the obligations of Borrower hereunder and to sell, manage, maintain, repair and protect the Mortgaged Property.
Lender shall have received: (i) a certified copy of each Initial Construction Contract, together with certified copies of all Subcontracts relating to the Initial Construction Work which Lender may request, and (ii) a certified copy of each Initial Architect’s Agreement, all such agreements and contracts being in a form and substance acceptable to Lender and consistent with the Development Budget and Initial Construction Budgets, as applicable.
Borrower shall cause the Initial Construction Work to be constructed in accordance with all applicable Legal Requirements and otherwise be in Construction Legal Compliance at all times.
Lender shall have received a building permit for the Initial Construction Work or, to the extent not so received, then all necessary permits applicable to construction then being conducted and thereafter obtaining such other required permits needed for each portion of the Initial Construction Work prior to commencing such portion of the Initial Construction Work.
So long as no Event of Default or Default exists, Lender shall, on the terms and conditions set forth below, make disbursements from the Development Fund (as applicable) to pay a portion of Borrower’s Hard Costs and Soft Costs incurred in connection with the Completion of Initial Construction Work.