Common use of Project Deadlines Clause in Contracts

Project Deadlines. It is understood and agreed that this Lease, all obligations under this Lease, and the timing thereof are of critical importance to Landlord. To this end, ▇▇▇▇▇▇ agrees to use commercially reasonable efforts to achieve the following results by the critical dates stated below (each a “Project Deadline”): (a) Approval of the architectural plans and specifications by Landlord and Tenant (75 days from the Effective Date); (b) Approval by the City of Lincolnton Planning Department (120 days from the Effective Date); (c) Tenant secures all land development permits, construction permits, and any site plan approval and/or permits required by North Carolina Department of Transportation for curb cuts (150 days from the Effective Date); (d) Tenant provides construction schedule to Landlord (120 days from the Effective Date). (e) Tenant commences construction of the Building (150 days from the Effective Date); (f) Tenant achieves substantial completion of the Building (300 days from the Effective Date); and (g) Tenant secures a certificate of occupancy for the Building (320 days from the Effective Date). In the event Tenant has not provided Landlord with satisfactory evidence that it has timely met each Project Deadline as stated above, Landlord may demand compliance with the Project Deadline by written notice to Tenant (each a “Compliance Demand”). In the event Tenant has not met the Project Deadline within ten (10) days of the Compliance Demand, Landlord may terminate this Lease upon written notice to Tenant not later than thirty (30) days after the date of the Compliance Demand.

Project Deadlines. It is understood and agreed that this Lease, all obligations under this Lease, and the timing thereof are of critical importance to Landlord. To this end, ▇▇▇▇▇▇ Tenant agrees to use commercially reasonable efforts to achieve the following results by the critical dates stated below (each a “Project Deadline”): (a) Approval of the architectural plans and specifications by Landlord and Tenant (75 days from the Effective Date); (b) Approval by the City of Lincolnton Planning Department (120 days from the Effective Date); (c) Tenant secures all land development permits, construction permits, and any site plan approval and/or permits required by North Carolina Department of Transportation for curb cuts (150 days from the Effective Date); (d) Tenant provides construction schedule to Landlord (120 days from the Effective Date). (e) Tenant commences construction of the Building (150 days from the Effective Date); (f) Tenant achieves substantial completion of the Building (300 days from the Effective Date); and (g) Tenant secures a certificate of occupancy for the Building (320 days from the Effective Date). In the event Tenant has not provided Landlord with satisfactory evidence that it has timely met each Project Deadline as stated above, Landlord may demand compliance with the Project Deadline by written notice to Tenant (each a “Compliance Demand”). In the event Tenant has not met the Project Deadline within ten (10) days of the Compliance Demand, Landlord may terminate this Lease upon written notice to Tenant not later than thirty (30) days after the date of the Compliance Demand.