Examples of Construction Commencement in a sentence
This means that there is no obligation by Solstra to proceed under this Agreement if any of the Conditions Precedent are not met to the satisfaction of Solstra and neither Construction Commencement nor Section 4.6 will create an obligation on the part of Solstra.
In the event Solstra terminates pursuant to this Section 4.6 after two years have elapsed since the Execution Date or following Construction Commencement, whichever is later, Solstra shall pay Cadiz the Exit Payment, due by the effective date of the termination.
In the event Solstra terminates pursuant to this Section 4.6 within two years of the Execution Date or prior to Construction Commencement, whichever is later, no “Exit Payment” shall be due.
If Solstra terminates pursuant to this Section 4.6 following Construction Commencement and on the date of or following Solomon Hills Approval, the Exit Payment shall be equal to two million, two hundred and fifty thousand dollars ($2,250,000) in 2024 dollars.
At any time after execution of this Agreement and prior to Construction Commencement, should Solstra determine in good faith that satisfying a Condition Precedent is infeasible, it may provide a notice of early termination (“Notice of Early Termination”) to Cadiz, upon which it may exit the Agreement without further responsibility.