Common use of Major Alterations Clause in Contracts

Major Alterations. Plans and specifications for all repairs, construction, alterations, modifications, additions or replacements which are structural in nature or cost in excess of Twenty Five Thousand and 00/100 Dollars ($25,000) per item or in aggregate, but excluding painting, decorating and nonstructural routine maintenance (together, the “Major Alterations”), shall be submitted to the City for its approval, and no work on such Major Alterations shall be commenced until such approvals are obtained from the City which approval shall not be unreasonably withheld or delayed. The City shall advise the Lessee within thirty (30) days after receipt of ▇▇▇▇▇▇’s request, together with copies of all required plans and specifications for the Major Alterations proposed, all in sufficient detail to permit the City to make proper review thereof. In the event of disapproval, the City shall state the reasons therefore. The criteria for the City’s review shall be consistency with City ordinances, Federal Aviation Administration Advisory Circulars, Aviation Code of Virginia and the Statewide Building Code, compatibility with the Airport’s architecture, City’s future proposed plans with the Airport and functionality for present and future uses appropriate to the Airport. City’s failure to respond within the foregoing thirty (30) day period shall not be deemed as City’s approval of ▇▇▇▇▇▇’s request for making the Major Alterations. If the Lessee makes any of the Major Alterations without City approval or any portion thereof which are disapproved of by the City, then, upon notice from the City, the Lessee shall remove the Major Alterations or at the option of the City cause the same to be changed or modified to the reasonable satisfaction of the City. If the Lessee fails to comply with such notice within thirty (30) days or to commence to comply and pursue diligently to completion, the City may, in addition to all other rights and remedies reserved under this Agreement to the City, effect the removal of the Major Alteration or otherwise change or modify the same and the Lessee shall pay the cost thereof to the City together with interest at the Default Interest Rate.

Major Alterations. Plans (a) The Borrowers shall not undertake any Major Alteration without the consent of the Agent, and specifications for all repairs, construction, alterations, modifications, additions with respect to any Major Alteration in which the aggregate estimated cost equals or replacements which are structural in nature or cost in excess of Twenty Five Thousand and 00/100 Dollars (exceeds $25,000) per item or in aggregate, but excluding painting, decorating and nonstructural routine maintenance (together10,000,000, the “Major Alterations”)consent of the Required Lenders, which consent shall not in each case be submitted unreasonably withheld. The Borrowers shall deliver to the Agent no less than thirty (30) days prior to the commencement by the Borrowers of any Major Alteration, a written request for the Agent's or, if applicable, the Required Lender's, consent to such proposed Major Alteration together with (collectively, a "Major Alteration Package"): (i) complete final plans and specification prepared by an architect (or engineer where applicable) licensed in the State and City for its approvalof New York (which architect or engineer shall reasonably satisfactory to the Agent); (ii) a signed estimate prepared and signed by the supervising architect; 66 (iii) a proposed budget certified as true, correct and no work on complete by an officer of the Borrowers; and (iv) such Major Alterations additional information as the Agent shall be commenced until such approvals are obtained from the City which approval shall not be unreasonably withheld or delayedreasonably request. The City shall advise the Lessee within Within thirty (30) days after receipt of ▇▇▇▇▇▇’s request, together with copies of all required plans and specifications for the Agent shall have received a Major Alterations proposed, all in sufficient detail to permit the City to make proper review thereof. In the event of disapprovalAlteration Package, the City Agent or, if applicable, the Required Lenders, shall state either consent or refuse to consent to such Major Alteration. If the Agent or, if applicable, the Required Lenders, shall refuse to consent to any proposed Major Alteration, the Agent shall set forth in reasonable detail the reasons thereforefor such refusal. The criteria for If the City’s review Agent shall be consistency with City ordinances, Federal Aviation Administration Advisory Circulars, Aviation Code of Virginia and the Statewide Building Code, compatibility with the Airport’s architecture, City’s future proposed plans with the Airport and functionality for present and future uses appropriate to the Airport. City’s failure fail to respond within the foregoing such thirty (30) day period period, Borrowers may notify the Agent of such failure, specifying that the failure to respond within three (3) Domestic Business Days thereafter will be deemed to be consent hereunder, and if the Agent shall fail to respond within three (3) Domestic Business Days after receipt of such second notice, the Agent or, if applicable, the Required Lenders, shall be deemed to have consented to such proposed Major Alteration. (b) The Borrowers shall not be deemed as City’s approval commence any Major Alteration prior to the delivery by Borrowers to the Agent of ▇▇▇▇▇▇’s request for making the following: (i) evidence of the Borrowers' receipt of all applicable governmental approvals required in connection with such Major Alteration; (ii) copies of all permits, contracts, purchase orders or work orders relating to the Major Alterations. If Alteration; and (iii) for any Major Alteration costing in excess of $750,000, a payment and performance bond and/or guaranty for the Lessee makes any payment for and completion of the Major Alterations without City approval Alteration in an amount equal to not less than 110% of the supervising architect's estimate of the entire cost of completing such Major Alteration or any portion thereof which are disapproved other evidence satisfactory to Agent as to adequate reserves for the payment for and completion of by such Major Alteration. (c) After the City, then, upon notice from the Citycompletion of a Major Alteration, the Lessee Borrowers shall remove the Major Alterations or at the option of the City cause the same to be changed or modified to the reasonable satisfaction of the City. If the Lessee fails to comply with such notice within promptly (but in no event later than thirty (30) days or to commence to comply and pursue diligently to completion, after the City may, in addition to all other rights and remedies reserved under this Agreement completion of such Major Alterations) deliver to the City, effect Agent the removal following: (i) a certificate of the supervising architect certifying that the Major Alteration Alterations have been satisfactory completed substantially in accordance with the approved plans and specifications; and (ii) waivers of lien executed by all contractors providing labor, materials or otherwise change or modify the same and the Lessee shall pay the cost thereof services with respect to the City together with interest at the Default Interest RateMajor Alterations.