Possession of Project. Enter into possession of the Project and perform any and all work and labor necessary to complete the Project substantially according to the Construction Contract and the Plans and Specifications or to operate, maintain and repair the Project, and all sums expended by Lender in so doing, together with interest on such total amount at the Default Rate, shall be repaid by Borrower to Lender upon demand and shall be secured by the Credit Documents, notwithstanding that such expenditures may, together with amounts advanced under this Agreement, exceed the amount of the Total Construction Loan Commitment.
Possession of Project. Enter into possession of the Projects and operate and maintain the Projects, and all sums expended by Administrative Agent in so doing, together with interest on such total amount at the Default Rate, shall be repaid by Borrower to Administrative Agent upon demand and shall be secured by the Financing Documents to the extent provided therein, notwithstanding that such expenditures may, together with amounts advanced under this Financing Agreement, exceed the amount of the Total Commitment.
Possession of Project. Enter into possession of the Project and perform any and all work and labor necessary to complete the Project substantially according to the Plans and Specifications or to operate and maintain the Project, and all sums expended by Administrative Agent or Collateral Agent in so doing, together with interest on such total amount at the Default Rate, shall be repaid by Borrowers to Administrative Agent or Collateral Agent, as the case may be, upon demand and shall be secured by the Credit Documents, notwithstanding that such expenditures may, together with amounts advanced under this Agreement, exceed the aggregate amount of the Total Loan Commitment.
Possession of Project. Upon payment of the Final Application for a Project, CenturyLink will take possession of the Project and will assume responsibility for security, maintenance, heat, utilities, damage to the Project and insurance. Until such time, unless otherwise specifically provided in the Contract Documents, Supplier will be responsible for all such obligations. Notwithstanding the foregoing, CenturyLink may elect in writing at any time during a Project to place a portion of the Service included in the Project into service as of a date specified in CenturyLink’s written notice. In such case, the warranty period set forth in the preceding subsection with respect to that selected portion of the Service only will commence on the date that CenturyLink elects to place the portion of the Service into service as set forth in the written notice. The warranty period for all other portions of the Service included in the Project will remain unchanged and will continue to be governed by the preceding subsection. If CenturyLink elects to place a portion of the Service in a Project into service, Supplier will retain responsibility for security, maintenance, heat, utilities, damage and insurance with respect to the portion of the Service that CenturyLink has elected to place into service unless CenturyLink agrees in writing to accept any or all of these responsibilities.
Possession of Project. M&I may enter upon the Real Estate and take possession thereof, together with the Project then in the course of construction, and proceed either in its own name or in the name of the Borrower, as the attorney-in-fact of the Borrower (which authority is coupled with an interest and is irrevocable by the Borrower) to complete or cause to be completed the Project, at the cost and expense of the Borrower. If M&I elects to complete or cause to be completed the Project, it may do so according to the Drawings and Specifications or according to such changes, alterations or modifications in and to the Drawings and Specifications as M&I may deem reasonable and appropriate; and M&I may enforce or cancel all contracts let by the Borrower relating to construction of the Project, and/or let other contracts which in M&I's sole judgment may seem advisable; and the Borrower shall forthwith turn over and duly assign to M&I, as M&I may from time to time require, contracts not already assigned to M&I relating to construction of the Project, blueprints, shop drawings, bonds, building permits, bills and statements of accounts pertaining to the Project, whether paid or not, and any other instruments or records in the possession of the Borrower pertaining to the project. The Borrower shall be liable under this Agreement to pay to M&I, on demand, any amount or amounts expended by M&I in so completing the Project, together with any costs, charges, or expenses incident thereto or resulting therefrom, all of which shall be secured by the Collateral Documents. In the event that a proceeding is instituted against the Borrower for recovery and reimbursement of any moneys expended by M&I in connection with the completion of the project, a statement of such expenditures, verified by the affidavit of an officer of M&I, shall be prima facie evidence of the amounts so expended and of the propriety of and necessity for such expenditures; and the burden of proving to the contrary shall be upon the Borrower. M&I shall have the right to apply any funds which it agrees to advance hereunder and any funds which the Borrower has then on deposit with the Disbursing Agent to bring about the completion of the Project and to pay the costs thereof; and if such moneys so agreed to be advanced and funds of the Borrower then on deposit with the Disbursing Agent are insufficient, in the sole judgment of M&I, to complete the Project, the Borrower agrees to promptly deliver and pay to M&I may from time to time...
Possession of Project. Subject to the Intercreditor Agreement, enter into possession of the Project and perform or cause to be performed any and all work and labor necessary to complete the Project substantially according to the Construction Contract and the Plans and Specifications or to operate and maintain the Project, and all sums expended by Lender in so doing, together with interest on such total amount at the Default Rate, shall be repaid by Borrower to Lender upon demand and shall be secured by the Financing Documents.
Possession of Project. If Owner terminates Developer’s engagement hereunder with the prior written consent of or at the direction of the Bond Insurer, the Trustee may take possession of the Project and of all materials, equipment, tools, construction equipment and machinery thereon owned by Developer, and the Trustee thereafter may, with the prior written consent of or at the direction of the Bond Insurer, cause the Work to be finished by whatever method it may deem expedient in a commercially reasonable manner.
Possession of Project. Borrower shall for any reason cease to be in possession of and occupy the Project.
Possession of Project. Take possession of the Project and have, hold, manage, lease and operate the same on such terms and for such period of time as the Bank may deem proper; and collect and receive all rents, income and profits of the property, with or without taking possession of the Project, with full power to make from time to time all alterations, renovations, repairs or replacements thereto as may seem proper to the Bank, and to apply such rents, income and profits to the payment of:
Possession of Project. 89 8.2.6 Remedies Under Credit Documents . . . . . . . . . . . . . . . . . . . . . . . 89
