Tower Construction Projects Clause Samples
The "Tower Construction Projects" clause defines the specific terms and requirements that apply to the construction of towers within a contract. It typically outlines the scope of work, safety standards, materials to be used, and timelines for completion, ensuring that all parties understand their responsibilities during the construction process. For example, it may specify the height, design specifications, and inspection procedures for the tower. The core function of this clause is to provide clear guidelines and expectations for tower construction, thereby minimizing disputes and ensuring the project meets regulatory and contractual standards.
Tower Construction Projects. With respect to a Tower Construction Project owned by a Loan Party and financed under this Agreement, one hundred percent (100%) of the Adjusted Project Costs incurred by such Loan Party with respect thereto, provided that the Adjusted Project Costs shall be excluded from computation in the Borrowing Base under this subparagraph (b) on the date which is ninety (90) days from the Tower Completion Date for such Tower Construction Project; furthermore, the maximum amount of availability includable in the Borrowing Base amount under this subparagraph (b) shall not exceed eighty percent (80%) of the Project Costs for such Tower Construction Project; plus