Project Covenants. IPA covenants for the benefit of Purchaser and each of the other Purchasers that during the period beginning on the Effective Date and ending on the day prior to the Transition Date, it will comply with the provisions of the Original Power Sales Contracts relating to the acquisition, construction, maintenance and operation of the Project, including without limitation, the provisions of Section 44 of the Original Power Sales Contracts. IPA will also operate and maintain the Project in such a manner, and make such replacements and repairs thereto, as and to the extent necessary to keep the Project in at least as good a condition as IPA has agreed with the Original Purchasers to keep the Project pursuant to the Original Power Sales Contracts. It is the intention of the parties that this covenant obligate IPA to render the Project, as of the Transition Date, in as good a condition as it would be had IPA fully performed each of its operation, maintenance, repair and replacement obligations with respect to the Project under the Original Power Sales Contracts during the term thereof, but not impose upon IPA any duties or obligations with respect to the operation, maintenance, repair and replacement of the Project that are more extensive or onerous than, or that otherwise exceed the scope of, IPA’s duties and obligations with respect to such matters under the Original Power Sales Contracts.
Project Covenants. With respect to the Project, Borrower shall or shall cause the Contractors to, as applicable:
Project Covenants. In addition to the representations and obligations of the Company set forth elsewhere in this Agreement, the Registration Rights Agreement and in the Collaboration Agreement, the Company also:
Project Covenants. Borrower agrees that from the date hereof and until final payment in full of the Obligations, unless Lender shall otherwise consent in writing, Borrower shall comply with the following: Loan to Cost Limitation. Total advances under the Construction Loan for all the Projects, in the aggregate, shall not exceed the lesser of seventy percent (70%) of the as-stabilized aggregate appraised value of all the Projects and eighty percent (80%) of all the developmental costs as shown on the then current Construction Budgets for all the Projects, in the aggregate. Construction Completion. Construction of a Project must be substantially complete, as evidenced by a certificate of occupancy on all buildings, by no later than 12 months after the initial Construction Loan advance for a Project. Secondary Financing. Secondary financing is not permitted on any Property. Primary Banking Accounts. Borrower shall establish a primary Construction Loan disbursement account with Lender. Additionally, Borrower shall establish all other banking accounts related to each Project with Lender.
Project Covenants. Section 5.1 Project Operation and Maintenance 15 Section 5.2 Sale or Lease of Project 15 Section 5.3 Subordinate Mortgage and Security Agreement 15 Section 5.4 Advances 15 Section 5.5 Alterations to the Project and Removal of Equipment 15 Section 5.6 Insurance 16 Section 5.7 Damage or Destruction 17 Section 5.8 Condemnation 18 Section 5.9 [Intentionally Omitted] 19 Section 5.10 Hazardous Materials 19 Section 5.11 Release of Real Property 20 ARTICLE 6 Damage, Destruction and Condemnation Section 6.1 Damage and Destruction 22 Section 6.2 Condemnation 22
Project Covenants. Section 5.1 Project Title, Operation, and Maintenance.
Project Covenants. 1. The Project Implementing Entity shall not amend, suspend, abrogate or waive any of the Core Construction Agreements or Core Commercial Agreements to which it is a party in a manner that would affect materially and adversely the carrying out of the Project.
Project Covenants. (a) Acquisition, Purchase, Construction and Installation of the Project. The Issuer will acquire, purchase, construct and install the Project in accordance with the Plans and Specifications. The Issuer may make minor changes in and to the Plans and Specifications, but major changes shall only be made with the prior written approval of the Trustee. The Issuer agrees that it will use its best efforts to cause the acquisition, purchase, construction and installation of the Project to be completed as soon as practicable with all reasonable dispatch.
Project Covenants. 4.1 The Recipient undertakes, through the Executing Agency, that in its management of the Service Contract, it will exercise the highest standard of diligence and care in monitoring the punctual and correct performance by the Service Provider of their obligations with a view to ensuring that the Services will be procured in accordance with the specifications, within the specified timeframe, and within the limits of the Service Cost.
Project Covenants. 31 10.4 Financial covenants 34 10.5 Provision of information and reports 36 10.6 Reclamation Work 37 11 TRANSACTION ACCOUNTS 38 11.1 Transaction Accounts 38 11.2 Proceeds Account 38 11.3 Project Account 38 11.4 Priority of application - Proceeds Account 38 11.5 Priority of application - Project Account 39 12 EVENTS OF DEFAULT 40 12.1 Events of Default 40 12.2 Effect of Default 42 12.3 Borrower to continue to perform 42 12.4 Enforcement 43 13 RELEASE OF OBLIGATIONS 43 13.1 Release of obligations 43 13.2 Further assurances 43 14 INDEMNITIES 44 14.1 General indemnity 44 14.2 Foreign currency indemnity 45 14.3 Conversion of currencies 45 14.4 Continuing indemnities and evidence of loss 45 15 FEES, TAX, COSTS AND EXPENSES 46
