Construction Period Sample Clauses

Construction Period. The term “Construction Period” shall mean the period from the date of this Lease to the date that Landlord completes construction of the Landlord’s Work (including any “Additional Base Building Items”, as defined in Section 3(f) of the Tenant Work Letter), and Common Areas, regardless of the occurrence of any Tenant Delay and without regard to the effect of any provision of this Lease pursuant to which the Premises are deemed to be Ready for Occupancy in advance of its actual occurrence. Notwithstanding any provision of this Lease to the contrary (including Exhibit B), during the Construction Period only, the following provisions shall be applicable:

Construction Period. Notwithstanding anything set forth in the foregoing Section 10.1 or any other provision of this Lease or the Work Letter to the contrary, during the “Construction Period” (defined below) only, the following provisions shall be applicable: 10.2.1 with respect to any indemnity obligation of Tenant arising at any time during the Construction Period only, (A) the term “Landlord Parties” shall mean and shall be limited to ▇▇▇▇▇▇ Realty Finance Partnership, L.P. (or any entity that that succeeds to ▇▇▇▇▇▇ Realty Finance Partnership, L.P.’s interest as Landlord under this Lease) and shall not include any other person or entity; provided, however, that Landlord may include in any claim owed by Tenant to it any amount which Landlord shall pay or be obligated to indemnify any other person or entity, and (B) any indemnity obligation shall be limited to losses caused by, or arising as a result of any act or failure to act of, Tenant or Tenant’s employees, agents or contractors; and 10.2.2 during the Construction Period only, Tenant’s liability under this Lease for (A) Tenant’s actions or failures to act under the Lease during the Construction Period, including, without limitation, Tenant’s indemnity obligations (calculated in accordance with Accounting Standards Codification (ASC) 840-40-55) plus (B) Base Rent and Additional Rent (though the parties acknowledge that Tenant’s obligation to pay Base Rent and Additional Rent shall not occur until Tenant is obligated to pay the same pursuant to the terms of Articles 3 and 4 of this Lease) shall be limited to eighty-nine and five-tenths percent (89.5%) of “Landlord’s Project Costs” (defined hereinbelow) determined as of the date of Landlord’s claim for such amount owed by Tenant. As used herein, “Landlord’s Project Costs” shall mean the amount capitalized in the Project by Landlord in accordance with U.S. generally accepted accounting principles, plus other costs related to the Project paid to third parties (other than lenders or owners of Landlord), excluding land acquisition costs, but including land carrying costs, such as interest or ground rent incurred during the construction period, and including all costs incurred by Landlord in connection with the development and construction of the Base Building and Common Areas of the Project. For the avoidance of doubt, Landlord and Tenant agree that:

Construction Period. 1. The Construction Period of the Project will commence with the execution of the Prime Contract by the School District and end thirty (30) calendar days after Construction Completion, except as otherwise provided herein.

Construction Period. 5.1 In respect of the Drawings and Documents received by the Independent Engineer for its review and comments during the Construction Period, the provisions of Paragraph 4 shall apply, mutatis mutandis. 5.2 The Independent Engineer shall review the quarterly progress report furnished by the Developer and send its comments thereon to the MOR and the Developer within 7 (seven) days of receipt of such report. 5.3 The Independent Engineer shall inspect the Construction Works once every quarter, preferably after receipt of the quarterly progress report from the Developer, but before the [7th (seventh) day] of next quarter in any case, and make out a report of such inspection (the “Inspection Report”) setting forth an overview of the status, progress, quality and safety of construction, including the work methodology adopted, the materials used and their sources, and conformity of Construction Works with the Scope of the Project and the Specifications and Standards. In a separate section of the Inspection Report, the Independent Engineer shall describe in reasonable detail the lapses, defects or deficiencies observed by it in the construction of the Rail System. The Independent Engineer shall send a copy of its Inspection Report to MOR and the Developer within 7 (seven) days of the inspection. 5.4 The Independent Engineer may inspect the Rail System more than once in a quarter if any lapses, defects or deficiencies require such inspections. 5.5 In the event that the Developer fails to achieve any of the Project Milestones, the Independent Engineer shall undertake a review of the progress of construction and identify potential delays, if any. If the Independent Engineer shall determine that completion of the Rail System is not feasible within the time specified in the Agreement, it shall require the Developer to indicate within 15 (fifteen) days the steps proposed to be taken to expedite progress, and the period within which the Scheduled Completion Date shall be achieved. Upon receipt of a report from the Developer, the Independent Engineer shall review the same and send its comments to MOR and the Developer forthwith. 5.6 The Independent Engineer shall carry out, or cause to be carried out, all the Tests and upon completion of Construction Works, and shall issue the Completion Certificate. The Independent Engineer shall submit copies of all Test data including detailed Test results to the MOR, Chief Engineer/Independent Surveyor Assessor. For carrying out its f...

Construction Period. 2.1. The Independent Expert shall undertake a review of the Drawings to be furnished by the Concessionaire along with supporting data. The Independent Expert shall complete such review and send its comments/observations to the Authority and the Concessionaire within [15 (fifteen)] days of receipt of such Drawings. In particular, such comments shall specify the conformity or otherwise of such Drawings with the Scope of the Project and Specifications and Standards. 2.2. The Independent Expert shall review any Drawings or modified Drawings or supporting Documents sent to it by the Concessionaire and furnish its comments within [7 (seven)] days of receiving such Drawings or Documents. 2.3. The Independent Expert shall review the monthly progress report furnished by the Concessionaire and send its comments thereon to the Authority and the Concessionaire within [7 (seven)] days of receipt of such report. 2.4. The Independent Expert shall inspect the Development Works and equipment (if any) once every quarter, preferably after receipt of the quarterly progress report from the Concessionaire, but before the [20th (twentieth)] day of succeeding month in any case, and make out a report of such inspection (the Inspection Report) setting forth an overview of the status, progress, quality, safety and conformity of Development Works and equipment with the Scope of the Project and the Specifications and Standards. In a separate section of the Inspection Report, the Independent Expert shall describe in reasonable detail the lapses, defects or deficiencies observed by it. The Independent Expert shall send a copy of its Inspection Report to the Authority and the Concessionaire within [7 (seven)] days of the inspection. 2.5. The Independent Expert may inspect the Hotel and Project Infrastructure more than once in a quarter. tests on a sample basis, to be specified by the Independent Expert in accordance with Good Industry Practice for quality assurance.

Construction Period. Construction of the Project shall be subject to the provisions of SMMC Section 8.08.070.

Construction Period. The Concessionaire shall, at its cost and expense, purchase and maintain during the Construction Period such insurances as are necessary, including but not limited to the following: (i) Construction/builders’/contractors’ all risk insurance; (ii) Erection all risk policy (iii) Comprehensive third party liability insurance including injury or death to personnel of the Authority and others who may enter the Project Site; (iv) Workmen’s compensation insurance; (v) any other insurance that may be necessary to protect the Concessionaire , its employees and its assets (against loss, damage or destruction at replacement value) including all Force Majeure Events that are insurable and not otherwise covered in items (i) to (iv).

Construction Period. 5.1 In respect of the Structural Safety Certificate received by the TA from the concessioner for its review and comments during the Construction Period the provisions of Paragraph 4 shall apply, mutatis mutandis. 5.2 The TA shall review the quarterly progress report furnished by the Concessionaire and send its comments thereon to the CHB and the Concessionaire within 7 (seven) days of receipt of such report.

Construction Period a. The “Construction Period” shall be a period of 18 (Eighteen) months commencing from the Compliance Date for the Project. However, it is being clarified here that the Concessionaire shall, within the Construction Period: i. Develop and complete the Project at the Project Site and make it fully operational in all respect; ii. Obtain all the necessary applications at its cost and procure all necessary/ mandatory Clearances including environmental clearances that are required for commencing the construction and execution of the Works unconditionally or if subject to conditions then all such conditions have been satisfied in full and such clearances are in full force and effect; and iii. The Concessionaire is required to obtain for the Circuit House accreditation as a 4-star hotel from the concerned accreditation agency within 3 (three) months from the date of issuance of the Construction Completion Certificate or Provisional Certificate whichever is issued earlier. The Concessionaire is expected to ensure the timely renewal of such accreditation that remains valid and subsisting throughout the O&M Period. Failure to renewal/restoration of the accreditation or withdrawal thereof shall constitute Concessionaire Event of Default which may lead to termination. b. In the event that Construction Completion Date is not achieved for any reason other than Force Majeure or reasons attributable to the Authority or any Competent Authority, the Concessionaire shall pay to the Authority damages for delay beyond the Construction Completion Date an amount of Rs 15,000 ( Rupees Fifteen Thousand Only) i.e 0.1% of the Performance Security per day for every day of delay or part thereof until Construction Completion Date is achieved. Provided that nothing contained in this sub article (b) shall be deemed or construed to authorize any delay by the Concessionaire in achieving Construction Completion Date. The Concessionaire shall be liable for replenishing/maintain the Performance Security to its original amount i.e INR 1,50,00,000. c. In the event that Construction Completion Date does not occur within 120 (one hundred and twenty) days from the Scheduled Construction Completion Date, the Authority shall be entitled to invoke the Performance Security and to terminate this Agreement for a Concessionaire Event of Default in accordance with the provisions of Article 22 hereof. Provided that instead of terminating this Agreement, the Authority may at its sole option extend the time f...