Phase II of the Project Sample Clauses

Phase II of the Project. The Parties hereby acknowledge and agree that: (a) the Rayton Requirements shall constitute the Specifications for the Prototype; (b) the price set forth on the first page of the Quote (i.e., $2,385,000) shall constitute the Final Prototype Price; (c) upon the Start Date (as defined below), Phase II of the Project shall begin; and (d) Section 4.2.3 of the Development Agreement shall be deleted in its entirety and the following language shall be inserted in lieu thereof:
Sample 1Sample 2
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Phase II of the Project. Phase II of the Project means the construction of the following improvements: (i) an Embassy Suites (or similar full-service hotel), consisting of a minimum of 150 hotel rooms (the "Hotel"), (ii) two (2) four story mixed-use buildings, consisting of approximately 215,000 square feet, in the aggregate, which shall contain a I\11244289.2 combination ofretail space, office space, flex space, and residential apartments (the "Mixed-Use Buildings"), (iii) a new building for the Xxxxxxxx Community Xxxxxxx Center (the "Xxxxxxxx Building"), (iv) a sub-grade parking facility serving Phase II of the Project (the "Parking Improvements"), (v) three (3) three story residential apartment buildings, consisting of approximately 230,000 square feet, in the aggregate (the "Apartment Buildings"), (vi) if in Developer's judgment, market conditions permit, certain other residential buildings and improvements, consisting ofrow houses and townhomes, and certain other retail improvements, such as a grocery store or market, and (vii) certain sitework and infrastructure improvements, including utility, drainage and road improvements necessary for the completion and operation of Phase II ofthe Project. Since EDC Bonds are being used to fund Phase II ofthe Project, only activities permitted to be conducted with EDC Bonds will be undertaken for Phase II of the Project. Therefore, it is understood that EDC Bonds will not be used for any ofthe following purposes in connection with Phase II ofthe Project: (i) private or commercial golf course, (ii) country club, (iii) massage parlor, (iv) tennis club, (v) skating facility (including roller skating, skateboarding, or ice skating), (vi) racquet sports facility (including any handball or racquetball court), (vii) hot tub facility, (viii) suntan facility, (ix) racetrack, (x) airplane, (xi) skybox or other private luxury box, (xii) health club, (xiii) any facility primarily used for gambling, (xiv) any store the principal business of which is the sale of alcoholic beverages for consumption off premises, or (xv) any other uses ofEDC Bonds which are not permitted under Indiana law.
Sample 1
Phase II of the Project. (“Phase II”) – A wind power project to be located within the SAMP area in United States waters off of the coast of Rhode Island having approximately three hundred eighty five (385) MWs of nameplate capacity and interconnected to the electric power systems of mainland Rhode Island, and which, in the event Phase I is Discontinued, is also interconnected to the electric power system of BIPCO.
Sample 1
Phase II of the Project. The Developer hereby agrees and commits to the City that it will diligently prosecute to completion the construction of Phase II of the Project in accordance with this Agreement, the site plan submitted to the City (including agreement by the Developer and the City with respect to street use and design) and all applicable federal, State and local laws, rules, regulations, ordinances and plans relating to or governing the development or use of Phase II of the Project, including applicable Land Use Regulations and Environmental Laws and Regulations. The Developer agrees and commits to the City that construction of Phase II of the Project shall be completed by December 31, 2018, subject to Unavoidable Delays. The total costs of Phase II of the Project and the source of funds available for payment thereof are shown on Exhibit C hereto. The Developer has the financial capacity to complete Phase II of the Project, and the Developer agrees to pay all such costs thereof. If there is an increase in the costs of Phase II of the Project from that shown on Exhibit C hereto that cannot be covered by the contingency amount, the Developer shall notify the City (through the MRA) of the increase and submit additional evidence in a form acceptable to the City (through the MRA) that the Developer has the financial capacity to cover such additional costs and complete Phase II of the Project. At all times during the term of this Agreement, the Developer will operate and maintain, preserve and keep Phase II of the Project or cause Phase II of the Project to be operated, maintained, preserved and kept for the purposes for which it was constructed, and with the appurtenances and every part and parcel thereof, in good repair and condition. The Developer agrees to permit the City and any of its officers, employees or agents access to the Land for the purpose of inspection of all work being performed in connection with Phase II of the Project; provided, however, that the City shall have no obligation to inspect such work.
Sample 1

Related to Phase II of the Project

  • Development of the Project 4.1 TSP's obligations in development of the Project: Subject to the terms and conditions of this Agreement, the TSP at its own cost and expense shall observe, comply with, perform, undertake and be responsible:

  • Completion of the Project The Contracting Party shall complete the construction, equipping and furnishing of the Improvements in accordance with the Plans and submit to the Board a Certificate of Completion on or before November 1, 2016.

  • Construction of the Project The Allottee has seen the proposed layout plan, specifications, amenities and facilities of the Apartment/ Plot and accepted the floor plan, payment plan and the specification, amenities and facilities annexed along with this Agreement which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop the Project in accordance with the said layout plans, floor plans and specifications, amenities and facilities. Subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent authorities and shall also strictly abide by the bye-laws, FAR, and density norms and provisions prescribed by the relevant building bye-laws and shall not have an option to make any variation/ alteration/ modification in such plans, other than in the manner provided under the Act, and breach of this term by the Promoter shall constitute a material breach of this Agreement.

  • The Project The Project is the total construction of which the Work performed under the Contract Documents may be the whole or a part.

  • Project 3.01. The Recipient declares its commitment to the objectives of the Project. To this end, the Recipient shall carry out the Project in accordance with the provisions of Article IV of the General Conditions.

  • Project Completion Part 1 – Material Completion

  • Maintenance of the Property Neither Broker nor Brokerage Firm is responsible for maintenance of the 324 Property nor are they liable for damage of any kind occurring to the Property, unless such damage is caused by their negligence or 325 intentional misconduct.

  • Construction of the Tenant Improvements Landlord shall construct the Tenant Improvements in accordance with this exhibit and the construction contract to be executed by Landlord and its contractor(s). The construction contract for constructing the Tenant Improvements and the contractor(s) to perform the work shall be approved and/or selected, as the case may be, by Landlord at its sole and absolute discretion without the consent of Tenant.

  • Operation of the Property During the Term, NAI shall operate the Property in a good and workmanlike manner and substantially in compliance with all Applicable Laws and will pay or cause to be paid all fees or charges of any kind in connection therewith. (If NAI does not promptly correct any failure of the Property to comply with Applicable Laws that is the subject of a written notice given to NAI or BNPLC by any governmental authority, then for purposes of the preceding sentence, NAI shall be considered not to have maintained the Property "substantially in accordance with Applicable Laws" whether or not the noncompliance would be substantial in the absence of the notice.) During the Term, NAI shall not use or occupy, or allow the use or occupancy of, the Property in any manner which violates any Applicable Law or which constitutes a public or private nuisance or which makes void, voidable or cancelable any insurance then in force with respect thereto. During the Term, to the extent that any of the following would, individually or in the aggregate, materially and adversely affect the value of the Property or NAI's use, occupancy or operations on the Property, NAI shall not, without BNPLC's prior consent: (i) initiate or permit any zoning reclassification of the Property; (ii) seek any variance under existing zoning ordinances applicable to the Property; (iii) use or permit the use of the Property in a manner that would result in such use becoming a nonconforming use under applicable zoning ordinances or similar laws, rules or regulations; (iv) execute or file any subdivision plat affecting the Property; or (v) consent to the annexation of the Property to any municipality. If (A) a change in the zoning or other Applicable Laws affecting the permitted use or development of the Property shall occur after the Base Rent Commencement Date that reduces the value of the Property, or (B) conditions or circumstances on or about the Property are discovered after the Base Rent Commencement Date (such as the presence of an endangered species) which substantially impede development and thereby reduce the value of the Property, and if after any such reduction under clause (A) or (B) preceding the Current AS IS Market Value of the Property is less than sixty percent (60%) of Stipulated Loss Value, then NAI shall pay BNPLC upon request the amount by which Current AS IS Market Value is less than sixty percent (60%) of Stipulated Loss Value, for application as a Qualified Prepayment. During the Term, NAI shall not cause or permit any drilling or exploration for, or extraction, removal or production of, minerals from the surface or subsurface of the Property, and NAI shall not do any act whereby the market value of the Property may reasonably be expected to be materially lessened. During the Term, if NAI receives a written notice or claim from any federal, state or other governmental entity that the Property is not in compliance in any material respect with any Applicable Law, or that any action may be taken against the owner of the Property because the Property does not comply with Applicable Law, NAI shall promptly furnish a copy of such notice or claim to BNPLC. Notwithstanding the foregoing, NAI may in good faith, by appropriate proceedings, contest the validity and applicability of any Applicable Law with respect to the Property, and pending such contest NAI shall not be deemed in default hereunder because of the violation of such Applicable Law, if NAI diligently prosecutes such contest to completion in a manner reasonably satisfactory to BNPLC, and if NAI promptly causes the Property to comply with any such Applicable Law upon a final determination by a court of competent jurisdiction that the same is valid and applicable to the Property; provided, however, in any event such contest shall be concluded and the violation of such Applicable Law must be corrected by NAI and any claims asserted against BNPLC or the Property because of such violation must be paid by NAI, all prior to the earlier of (i) the date that any criminal prosecution is instituted or overtly threatened against BNPLC or any of its directors, officers or employees because of such violation, (ii) the date that any action is taken by any governmental authority against BNPLC or any property owned by BNPLC (including the Property) because of such violation, or (iii) a Designated Sale Date upon which, for any reason, NAI or an Affiliate of NAI or any Applicable Purchaser shall not purchase BNPLC's interest in the Property pursuant to the Purchase Agreement for a price to BNPLC (when taken together with any additional payments made by NAI pursuant to Paragraph 1(A)(2) of the Purchase Agreement, in the case of a purchase by an Applicable Purchaser) equal to the Break Even Price.

  • Project Costs Simultaneously with the execution of this Agreement, the Company shall disclose to the Department all of the Project Costs which the Company seeks to include for purposes of determining the limitation of the amount of the Credit pursuant to Section 5-30 of the Act and provide to the Department a Schedule of Project Costs in the form as attached hereto as Exhibit C.

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