Examples of Construction Agent in a sentence
Construction Agent acknowledges and agrees that although Xxxxxx will own and hold leasehold title to the Site and title to the Facility via the Ground Lease, Lessor has delegated to Construction Agent, and Construction Agent has accepted from Lessor, sole responsibility under and subject to the terms of this Agreement, (i) for the design, development, budgeting and Construction of the Facility, and (ii) for any alterations or modifications and all activities conducted in connection herewith.
Construction Agent agrees that Lessor’s obligations and liability under this Agreement are limited pursuant to Section 15.15 of the Transaction Agreement.
Construction Agent and Xxxxxx acknowledge and agree that Construction Agent’s right to request funds and Xxxxxx’s obligation to advance funds for the payment of Project Costs are subject in all respects to the terms and conditions of this Agreement, the Transaction Agreement and each of the other Operative Documents.
Construction Agent shall furnish to Lessor and the Administrative Agent a Responsible Officer’s Certificate of Construction Agent, in substantially the form of Exhibit D-2 attached hereto, dated as of the Facility Completion Date.
Xxxxxx hereby agrees that it will not, during the term of this Agreement, undertake to perform itself any of the Site Obligations that Construction Agent is appointed to perform on behalf of Xxxxxx.