Construction Contract Contingency Sample Clauses

Construction Contract Contingency. Seller has set the Purchase Price for the Unit and the purchase price for other residential Units within the Project based upon an estimated construction budget for the Project and the Resort. Seller's ability to proceed with the Project and the Resort is dependent upon Seller entering into a construction contract for construction of the Project and the Resort (a "Construction Contract") in an amount and upon other terms acceptable to Seller, in its sole and absolute discretion. If Seller has not entered into a Construction Contract prior to May 1, 2022, Seller may terminate this Agreement or waive this Contingency by delivering written notice to Purchaser at any time, but in no event later than May 15, 2022.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
Construction Contract Contingency. On or prior to the Closing Date, Assignee shall have received a binding bid to enter into a construction general contract in form and substance and with a contractor approved by Assignee in its sole discretion. It is understood that from and after the date hereof, Assignee and Assignor shall mutually cooperate in attempting to achieve such a contract in a form entirely acceptable to Assignee based upon a bid set of plans and specifications which replicate, in all material respects, the plans and specifications of Amli at Aurora Crossing, dated June 25, 1996 (except for those items of particular difference between the two projects such as the newly designed clubhouse and the snap-on stone facade). Assignee shall submit to the chosen contractor a list of alternates to the construction contract to be priced in addition to the basic plans and specifications. Assignee shall be the sole negotiator of the contract, but drafts shall be mutually reviewed and to the maximum extent possible the suggestions of Assignor shall be raised in the negotiations and covered in such drafts. In the event that this condition is not satisfied on or prior to the Closing Date, then Assignee shall have the right to terminate this Agreement by delivering written notice to Assignor any time on or prior to the Closing Date, in which case the Exxxxxx Money shall be promptly refunded to Assignee and this Agreement shall be terminated.
Sample 1
Construction Contract Contingency. On or prior to the Closing Date, Assignee shall have received a binding bid to enter into a construction general contract in form and substance and with a contractor acceptable to Assignee. It is understood that from and after the date hereof, Assignee and Assignor shall mutually cooperate in attempting to achieve such a contract at a mutually agreed upon guaranteed maximum price. Assignee and Assignor shall be represented by Sxxxxxxxxxxx Xxxx & Rxxxxxxxx ("SNR") in negotiating such a contract and the reasonable attorneys' fees of SNR in so doing shall be paid equally by Assignee and Assignor. In addition, to the extent SNR certifies that the work performed by them prior to the date hereof in connection with the Contract Seller's construction contract can be utilized in connection with the subsequent contract, their certified fees with respect to such work shall be deemed a reimbursable cost pursuant to SECTION 3 hereof. Assignor shall be the principal negotiator of the contract, but drafts shall be mutually reviewed and to the maximum extent possible the suggestions of Assignee shall be raised in the negotiations and covered in such drafts. In the event that this condition is not satisfied on or prior to the Closing Date, then Assignee shall have the right to terminate this Agreement by delivering written notice to Assignor any time on or prior to the Closing Date, in which case the Exxxxxx Money shall be promptly refunded to Assignee and this Agreement shall be terminated.
Sample 1

Related to Construction Contract Contingency

  • Construction Contract If federal funds are included as part of the financing of the non-OPWC portion of the Project, federal law may prevail, including, but not limited to, application of Xxxxx Xxxxx prevailing wage rates, the Xxxxxxxx “Anti-Kickback” Act, the Contract Work Hours and Safety Standards Act, and any federal environmental regulations. Recipient is solely responsible for ensuring compliance with federal requirements applicable to its Local Subdivision Contribution. Notwithstanding the above, the following provisions apply to construction contracts under this Agreement:

  • Construction Contract; Cost Budget Prior to execution of a construction contract, Tenant shal] submit a copy of the proposed contract with the Contractor for the construction of the Tenant Improvements, including the genera] conditions with Contractor (the “Contract”) to Landlord for its approval, which approval shall not be unreasonably withheld, conditioned or delayed. Following execution of the Contract and prior to commencement of construction, Tenant shall provide Landlord with a fully executed copy of the Contract for Landlord’s records. Prior to the commencement of the construction of the Tenant Improvements, and after Tenant has accepted all bids and proposals for the Tenant Improvements, Tenant shall provide Landlord with a detailed breakdown, by trade, for all of Tenant’s Agents, of the final estimated costs to be incurred or which have been incurred in connection with the design and construction of the Tenant Improvements to be performed by or at the direction of Tenant or the Contractor (the “Construction Budget”), which costs shall include, but not be limited to, the costs of the Architect’s and Engineers’ fees and the Landlord Coordination Fee. The amount, if any, by which the total costs set forth in the Construction Budget exceed the amount of the Tenant Improvement Allowance is referred to herein as the “Over Allowance Amount”. In the event that an Over-Allowance Amount exists, then prior to the commencement of construction of the Tenant Improvements, Tenant shall supply Landlord with cash in an amount equal to the Over- Allowance Amount. The Over-Allowance Amount shall be disbursed by Landlord prior to the disbursement of any of the then remaining portion of the Tenant Improvement Allowance, and such disbursement shall be pursuant to the same procedure as the Tenant Improvement Allowance. In the event that, after the total costs set forth in the Construction Budget have been delivered by Tenant to Landlord, the costs relating to the design and construction of the Tenant Improvements shall change, any additional costs for such design and construction in excess of the total costs set forth in the Construction Budget shall be added to the Over-Allowance Amount and the total costs set forth in the Construction Budget, and such additional costs shall be paid by Tenant to Landlord immediately as an addition to the Over-Allowance Amount or at Landlord’s option, Tenant shall make payments for such additional costs out of its own funds, but Tenant shall continue to provide Landlord with the documents described in items (1), (ii), (iii) and (iv) of Section 2.2.2.1 of this Tenant Work Letter, above, for Landlord’s approval, prior to Tenant paying such costs. All Tenant Improvements paid for by the Over-Allowance Amount shall be deemed Landlord’s property under the terms of the Lease. 4.2.2

  • Construction Contracts Item A: Enter the total dollar amount of all contacts awarded on the project/ program. Item B: Enter the total dollar amount of contracts connected with this project/program that were awarded to Section 3 businesses.

  • Construction Management Landlord or its Affiliate or agent shall supervise the Work, make disbursements required to be made to the contractor, and act as a liaison between the contractor and Tenant and coordinate the relationship between the Work, the Building and the Building’s Systems. In consideration for Landlord’s construction supervision services, Tenant shall pay to Landlord a construction supervision fee equal to three percent (3%) of Tenant’s Costs specified in Section 7.

  • Construction Management Fee The Construction Management Fee for the Project shall be either a ☒Lump Sum or ☐Not-To-Exceed Fee of Fifty-One Thousand, Four Hundred Fifty-Six Dollars and Twenty-Three Cents ($51,456.23). NOTE: Allowances will be on a Not-To-Exceed basis. All unused funds will be returned to the School District at the time of construction closeout. Fee will be paid only on cost of work for these items. Exhibit C- Project Assignment Page 2 of 4

  • Construction, Etc Each covenant contained herein shall be construed (absent express provision to the contrary) as being independent of each other covenant contained herein, so that compliance with any one covenant shall not (absent such an express contrary provision) be deemed to excuse compliance with any other covenant. Where any provision herein refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person. For the avoidance of doubt, all Schedules and Exhibits attached to this Agreement shall be deemed to be a part hereof.

  • Construction Budget The total amount indicated by the District for the Project plus all other costs, including design, construction, administration, financing, and all other costs.

  • Construction Plans Tenant shall prepare final plans and specifications for the Tenant Improvements that (a) are consistent with and are logical evolutions of the Approved Schematic Plans and (b) incorporate any other Tenant-requested (and Landlord-approved) Changes (as defined below). As soon as such final plans and specifications ("Construction Plans") are completed, Tenant shall deliver the same to Landlord for Landlord's approval, which approval shall not be unreasonably withheld, conditioned or delayed. All such Construction Plans shall be submitted by Tenant to Landlord in electronic .pdf, CADD and full-size hard copy formats, and shall be approved or disapproved by Landlord within ten (10) business days after delivery to Landlord. Landlord's failure to respond within such ten (10) business day period shall be deemed approval by Landlord. If the Construction Plans are disapproved by Landlord, then Landlord shall notify Tenant in writing of its objections to such Construction Plans, and the parties shall confer and negotiate in good faith to reach agreement on the Construction Plans. Promptly after the Construction Plans are approved by Landlord and Tenant, two (2) copies of such Construction Plans shall be initialed and dated by Landlord and Tenant, and Tenant shall promptly submit such Construction Plans to all appropriate Governmental Authorities for approval. The Construction Plans so approved, and all change orders approved (to the extent required) by Landlord, are referred to herein as the "Approved Plans."

  • Construction Phase Part 1 –

  • Construction Schedule The progress schedule of construction of the Project as provided by Developer and approved by District.

Time is Money Join Law Insider Premium to draft better contracts faster.