Construction Term. Unless otherwise determined under Section 1.1(b), the Applicable Cost of Debt (in %) during the Construction Term shall be equal to the actual all-in interest rate paid by Lessor to finance the Construction Costs.
Construction Term. (a) Prior to the Commercial Operation Date, the risk of loss of or decrease in the enjoyment and beneficial use of the Leased Facility as a result of the damage or destruction thereof by fire, the elements, casualties, thefts, riots, wars or otherwise is assumed by Lessor, and Lessee shall not be answerable or accountable to Lessor therefor.
Construction Term. At all times from the date hereof to the Commercial Operation Date, Lessor shall maintain, or cause to be maintained, insurance as set forth in Schedule 11.3.
Construction Term. The period commencing on the date of this Agreement and continuing through the Conversion Date.
Construction Term. Upon the expiration of the Development Term, the term of this Agreement shall automatically extend and continue (“Construction Term”) until the earlier to occur of:
Construction Term. During the Construction Term, Basic Rent shall accrue in arrears on December 31, 1998 and on the last day of March, June, September and December, 1999 or such date as the Basic Term shall begin pursuant to the terms of Article 2 hereof (each a Payment Date) and shall be capitalized and become a part of the Equity Investment. Such Basic Rent shall accrue at a rate per annum equal to the Equity Return on the actual outstanding Equity Investment calculated on the actual number of days subsequent to the next preceding Payment Date in respect of the actual amount of Equity Investment outstanding on such day.
Construction Term. During the Construction Term, the Termination Value is the sum of (i) all amounts payable by Lessee hereunder, including without limitation, accrued Basic Rent, Additional Rent, and all other sums payable hereunder to the date of payment of the Termination Value, plus (ii) the sum of all Lessor Advances made pursuant to Article 3 of the Agency Agreement , plus (iii) an amount equal to the Equity Return (if any) which has accrued from the last date Basic Rent Payment Date through the date of payment of the Termination Value.
Construction Term. The construction term of this Lease shall commence as follows: (a) for Phase I, the construction term shall commence on the Effective Date and shall expire on the earlier to occur of (i) the day prior to the Delivery Date or (ii) the date that is twelve
Construction Term. The construction term of this Agreement shall commence on the Effective Date and continue for six (6) months (“Construction Term”). The Construction Term shall end six (6) months months after the Effective Date unless before that date Lessee notifies Lessor that Lessee elects to terminate this Agreement or that the Commercial Operations Date has occurred. For purposes of this Agreement, “Commercial Operations Date” shall mean the date on which the Equipment becomes operational as determined by FPL. For the purposes of this section, “operational” means the date on which Lessee has (i) received any and all approvals, licenses, and permits necessary to operate the Equipment, (ii) the Equipment is installed on the Demised Premises and is connected to the electric transformer, and
