Construction Consultant’s Report Sample Clauses
The Construction Consultant’s Report clause requires a designated construction consultant to provide formal reports on the progress, quality, or compliance of construction work. Typically, this clause outlines the timing, content, and recipients of such reports, and may specify that the consultant’s findings are used to inform payment decisions, identify defects, or confirm completion milestones. Its core practical function is to ensure independent, expert oversight of the construction process, thereby promoting transparency and reducing disputes between parties regarding the status and quality of the work.
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Construction Consultant’s Report. The Construction Consultant shall prepare the Construction Consultant's report (the "CONSTRUCTION CONSULTANT'S REPORT") for the Aladdin Hotel and Casino stating, among other things, that (a) the Construction Consultant has reviewed the Main Project Documents, the Plans and Specifications, and other material information deemed necessary by the Construction Consultant for the purpose of evaluating whether the Main Project can be constructed and completed in the manner and time frame contemplated by the "OPERATIVE DOCUMENTS" (as such term is to be defined in the Disbursement Agreement, which agreement shall be in form and content satisfactory to the Construction Consultant; each capitalized term in this Exhibit not otherwise defined shall have the meaning in the Disbursement Agreement) and (b) based on its review of such information, the Construction Consultant is of the opinion that the Main Project can be constructed in the manner contemplated by the Operative Documents and, in particular, that the Main Project can be constructed and completed in accordance with the Operative Documents and the "PLANS AND SPECIFICATIONS" within the parameters set by the "MAIN PROJECT SCHEDULE" and the "MAIN PROJECT BUDGET". The Construction Consultant's Report shall include a due diligence review which:
A. Analyzes and critiques the Main Project Budget, the Main Project Schedule and the Plans and Specifications on a material line item basis.
B. Reviews the design concepts of the Main Project and major equipment components and will compare the same with standard industry practice. It is understood that the Construction Consultant in no way approves or disapproves any technical aspect of the design documents or maintains any liability as to the application or function of the Main Project.
C. Reviews applicable permitting and licensing requirements as provided by or on behalf of the Borrower for construction and operation of the Main Project. With respect to permits and licenses not in place prior to the commencement of construction of the Main Project, the anticipated requirements and schedule indicating major milestones, if available, will be reviewed. Any deficiencies and limitations noted will be identified. 1
Construction Consultant’s Report. The Agent shall have received from the Construction Consultant a preliminary Project report satisfactory to the Agent.
Construction Consultant’s Report. The Agent and the Certificate Holders shall have received a Construction Consultant's Report in connection with such Funding Date in form and substance satisfactory to each of them and, if the Advance is to occur during the months of March, June, September and December, commencing March, 200_, such Consultant's Report shall include a more detailed quarterly review of the Construction activities and progress.
Construction Consultant’s Report. Agent shall have received a written report from the Construction Consultant, in form and substance satisfactory to Agent, relating to the construction of the Project performed prior to the Closing Date, including, without limitation, a report on the percentage of completion which has been achieved as of the Closing Date for each of the Units.
Construction Consultant’s Report. With respect to budgeted Costs for the Project, Agent shall have received a written report from Agent’s Construction Consultant with respect to the applicable Request for Advance stating: (i) that, in the opinion of Agent’s Construction Consultant, all Change Orders and modifications or amendments to the Plans and Specifications, any Development Budget or any Development Schedule required hereby to be approved by Agent are satisfactory to Agent’s Construction Consultant; and (ii) that, in the opinion of Agent’s Construction Consultant, the Construction theretofore completed has been completed in accordance with the Plans and Specifications.
Construction Consultant’s Report. With respect to Hard Costs for the Project, Lender shall have received a written report from Lender’s Construction Consultant with respect to the applicable Request for Advance stating: (i) that, in the opinion of Lender’s Construction Consultant, all Change Orders and modifications or amendments to the Plans and Specifications, any Development Budget or any Development Schedule required hereby to be approved by Lender are satisfactory to Lender’s Construction Consultant; (ii) that, in the opinion of Lender’s Construction Consultant, the Construction theretofore completed has been completed in accordance with the Plans and Specifications; (iii) what percentage of the Construction, in the aggregate, has been completed as of the date of the applicable Request for Advance; (iv) the extent to which, if any, the undisbursed Development Advances for the Hard Costs and Soft Costs not yet incurred but necessary for Completion of Construction are not sufficient to permit Completion of Construction in accordance with the Development Schedule; and (v) whether Completion of Construction can, in Lender’s Construction Consultant’s opinion, be completed prior to the Project Completion Date; provided, however, Lender shall use its best efforts to require Lender’s Consultant to diligently review such Request for Advance.
Construction Consultant’s Report. The Lender shall have received from the Construction Consultant a preliminary Project report satisfactory to the Lender.