Construction; Buyer Delay Sample Clauses
The 'Construction; Buyer Delay' clause defines the procedures and consequences when a buyer causes delays in a construction project. Typically, this clause outlines the circumstances under which a buyer's actions or inactions—such as failing to provide necessary approvals, payments, or access to the site—result in a delay to the contractor's work. It may specify how the contractor should notify the buyer of the delay, the process for adjusting the project timeline, and any entitlement to additional costs or extensions. The core function of this clause is to allocate responsibility for delays attributable to the buyer, ensuring that the contractor is not penalized for setbacks outside their control and providing a clear mechanism for addressing such disruptions.
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Construction; Buyer Delay. Seller shall begin construction of the described Facility within the time specified in Paragraph 6D of the Contract. Seller shall cause contractors of its choice to construct the Facility in substantial accordance with the Final Construction Documents. Subject to the Early Installations allowed in Paragraph 6.H of the Contract, Buyer may not move into or begin to fixturize or perform any construction in or upon the Property until after Substantial Completion of the Facility by Seller and completion of Closing. Delay in the Substantial Completion of the Facility as the probable result of any of the following constitutes “Buyer Delay”: (i) any failure by Buyer to timely approve or approve with noted comments and changes the Construction Documents or any revision to any such documents, (ii) any Change Request by Buyer, and the implementation of any approved Change Order, (iii) the fact that any change in materials required by Buyer (including, without limitation, specifications provided for Allowance or undesignated items) require special fabrication or ordering from out-of-town suppliers require a lead time to obtain that is not in keeping with Seller’s construction schedule, (iv) any interference or other act or omission of Buyer, its agents or employees, including any violation of the provisions of the Contract or any delay in giving authorizations or approvals pursuant to the Contract or any exhibit thereto, that delays Seller’s prosecution of the Facility, or (v) any other event expressly identified as Buyer Delay under any provision of the Contract or any exhibit thereto. The occurrence of more than 45 days of Buyer Delay is unacceptable, and each additional day of Buyer Delay will result in increase of the Sales Price by a factor calculated by multiplying the Wall Street Journal quoted Prime Rate existing as of the date of Seller’s purchase of the Property, plus two percent, times the Sales Price under the Contract, and dividing by 365. The occurrence of more than 90 days of Buyer Delay will be considered a default by Buyer under the Contract, which shall allow Seller to exercise its remedies under Paragraph 11. of the Contract. Any state of facts not arising from a Change Request by Buyer, but which gives rise to a change referred to in the definition of Change Costs and entitles Seller to a Change Order to accommodate such necessary change (such as discovery of unanticipated site conditions) as per Paragraph 2(d), below, will be considered force maje...