Tower Completion Date definition
Tower Completion Date means, with respect to each Tower Construction Project, the date that at least thirty-five percent (35%) of the Tower Units subject to Housing Purchase Contracts have closed.
Tower Completion Date means the date upon which Substantial Completion of the New Tower occurs.
Tower Completion Date. If the Tower Completion Date has not occurred within thirty-six (36) months following the Existing Tower Closing Date (as may be extended), subject to extensions for any delays caused by Force Majeure or the City and subject to any extensions that may be granted by the City Manager, then the City may deliver written notice to Weston Urban requiring that the Tower Completion Date occur within one hundred eighty (180) days or such longer period as the City Manager may elect to grant (the “Outside Tower Completion Deadline”). If the Tower Completion Date has not occurred on or before the Outside Tower Completion Deadline and Frost elects to terminate the New Frost Lease, then the City and Frost shall have the option of terminating this Agreement pursuant to Section 6.09 below unless construction on the New Tower is in progress as of the Outside Tower Completion Deadline in which event the Outside Tower Completion Deadline shall be automatically extended until such time as the New Tower may be completed assuming Weston Urban continues to diligently and continuously proceed with the construction of the New Tower, subject to Force Majeure, but in no event later than sixty (60) months following the Existing Tower Closing Date (as may be extended). If the Tower Completion Date has not occurred within sixty (60) months following the Existing Tower Closing Date (as may be extended) and Frost elects to terminate the New Frost Lease, then the City and Frost each shall have the option of terminating this Agreement pursuant to Section 6.09 below.
Examples of Tower Completion Date in a sentence
Total Borrowing Base Indebtedness (Lines I.B.1+2) 7 $ 3 Such Tower Unsold Units shall be excluded from computation in the Borrowing Base on and after that date which is one hundred and eighty (180) days from the Tower Completion Date for such Tower Units.