Construction and Development. The Credit Parties shall not engage in construction and development projects in which the total project costs of all such concurrent construction and development projects exceed, in the aggregate at any one time, 15% of Total Assets (it being understood and agreed for purposes of this Section 8.12 that a project shall be considered under construction and/or development until a certificate of occupancy therefore (or other similar certificate) shall have been issued by the applicable Governmental Authority).
Construction and Development. The Borrower and its Subsidiaries will not engage in construction and development projects in which the total project costs of all such concurrent construction and development projects exceed, in the aggregate at any one time, ten percent (10%) of the book value of consolidated assets of the Borrower and its Subsidiaries (it being understood and agreed for purposes of this Section that a project shall be considered under construction and/or development until a certificate of occupancy therefor, or other similar certificate, shall have been issued by appropriate governmental authorities).
Construction and Development. 4.4. The Developer covenants and agrees to extend, develop and construct the Commuter Trails and Subsidiary Trails to a standard consistent with the typical cross sections in the Master Infrastructure and Servicing Report Drawings.
Construction and Development. 5.1. The Promoters shall, subject to the terms hereof, construct the Building in accordance with the Approvals and or, plans and amendments thereto as approved by the relevant Authorities.
Construction and Development. No Credit Party will, nor will it permit any member of the Consolidated Group to, at any time (a) commit to, commence or continue or (b) make an Investment in any Combined Party 56 62 that is committed to, commencing or continuing, construction of any improvements on any undeveloped or partially developed Property or Properties, if the sum, without duplication, of (i) with respect to clause (a) above, the aggregate cost to date of all such construction, together with the aggregate estimated cost to complete such construction, plus (ii) with respect to clause (b) above, the aggregate Investments to date, together with the required or estimated future Investments of members of the Consolidated Group in all such Combined Parties, would exceed 10% of the Aggregate Adjusted Current Value. Furthermore, if the limitation set forth in this Section 8.12 shall cause a Combined Party to cease construction of or development on a Borrowing Base Development Property, such Development Property shall be excluded from the Borrowing Base and the Borrower shall provide the Administrative Agent with a Borrowing Base Certificate reflecting such exclusion.
Construction and Development. 44 Section 5.28 Limitation on Certain Agreements....................................................44
Construction and Development. 1. The Company shall, subject to the terms hereof, construct the Building in accordance with the Approvals andor, plans and amendments thereto as approved by the relevant Authorities.
Construction and Development. Upon execution of the Construction Contracts and receipt of required permits and all bonds and insurance certificates required of the contractors, the Authority shall issue a notice to proceed to the contractors and commence the timely and orderly construction of the improvements. Upon completion of construction of the improvements, as evidenced by issuance of appropriate certificates of occupancy, the Authority will transfer full and complete possession of the improvements to the School District under the terms and conditions of the Lease Purchase Agreement.
Construction and Development. HRT and its Subsidiaries will not engage in construction and development projects in which the total project costs of all such concurrent construction and development projects exceed, in the aggregate at any one time, ten percent (10%) of the book value of consolidated assets of the Borrower and its Subsidiaries (it being understood and agreed for purposes of this Section that a project shall be considered under construction and/or development until a certificate of occupancy therefor, or other similar certificate, shall have been issued by appropriate governmental authorities).
Construction and Development. 19.1 DWAF shall consult the USER, and all other users, through the Co-operative Governance Structure before it embarks on any significant future augmentation of the System.
