Build-Out Period Sample Clauses

Build-Out Period. ‌ The build-out period for purposes of RCW 36.70B.180 shall be twenty-five (25) years from the effective date or five years after the completion of all the phases described in Section 10, whichever is later.

Build-Out Period. PURCHASER MUST COMMENCE CONTRUCTION OF A HOUSE AND RELATED IMPROVEMENTS ON THE LOT, IN ACCORDANCE WITH PLANS AND SPECIFICATIONS APPROVED BY THE FOREST LAKES DESIGN REVIEW BOARD, WITHIN TWO YEARS FROM THE DATE OF POSSESSION OF THE LOT AS HEREIN DEFINED AND SHALL SUBSTANTIALLY COMPLETE CONSTRUCTION OF THE HOUSE AND RELATED IMPROVEMENTS WITHIN 18 MONTHS OF COMMENCING CONSTRUCTION, (the “Construction Period”). The house and related improvement shall be considered substantially complete upon issuance of certificate of occupancy from Walton County. This restriction is part of the consideration for the Lot and is intended to allow for community development. If Purchaser fails to construct a home and related improvements on the Lot in accordance with the approved plans and specifications within the agreed Construction Period, Seller shall have the right, but not the obligation, to repurchase the Lot for the amount paid by Purchaser to Seller under this Agreement. Purchaser hereby grants this repurchase option and agrees to this restriction as part of the consideration for the Lot to allow for community development.

Build-Out Period. Provided that the Cafeteria Space Commencement Date has not yet occurred, Tenant shall have the right to enter the Cafeteria Space for a period (the “Build-Out Period”) commencing upon the date Landlord delivers the Cafeteria Space to Tenant and expiring at 11:59 p.m. on the day before the Cafeteria Space Commencement Date, for the sole purpose of constructing the Cafeteria Space Improvements (as defined below), fixturizing the Cafeteria Space and installing equipment therein, provided that Tenant has delivered to Landlord the certificates of insurance and any and all other evidence of insurance required under the Lease (as amended hereby) to be carried by Tenant and any contractor retained thereby with respect to the Cafeteria Space. All of the terms and conditions of the Lease (as amended hereby) shall apply to the Cafeteria Space during the Build-Out Period, including, without limitation, Tenant’s obligation to pay to Landlord all sums and charges required to be paid by Tenant under the Lease (as amended hereby) for the Cafeteria Space as though the Cafeteria Space Commencement Date had occurred (although the Cafeteria Space Commencement Date shall not actually occur until the date set forth in Section 3.2 above); provided however, (i) during the Build-Out Period, Tenant shall not be obligated to pay Base Rent for the Cafeteria Space until the Cafeteria Space Commencement Date actually occurs, and (ii) if Tenant, or any person occupying any portion of the Cafeteria Space with Tenant’s permission, commences business operations in the Cafeteria Space at any time during the Build-Out Period then, pursuant to and in accordance with Section 3.2 above, the Cafeteria Space Commencement Date shall be deemed to have occurred as of such date Tenant, or any person occupying any portion of the Cafeteria Space with Tenant’s permission, commences business operations in the Cafeteria Space.