Examples of Construction Failure Payment in a sentence
Except in conjunction with a payment by a Lessee or the Construction Agent of the Lease Balance, a Construction Failure Payment or a Leased Property Balance pursuant to the terms of the Lease or the Construction Agency Agreement, the Lessor shall have no right to prepay the Loans.
Thursday, May 18, 2023 Public Notice Emerson City Council Public NoticeMINUTES OF THE EMERSON CITY COUNCIL REGULAR MEETING WEDNESDAY, MAY 10, 20236:00 P.M.MEETING WAS HELD IN EMERSON CITY HALL 410 MANCHESTERAND ALSO AVAILABLE THROUGH ZOOMMayor Larry Johnson called the regular meeting of the Emerson City Council to order on Wednesday, May 10, 2023, 6:00 p.m. in Emerson City Hall, 410 Manchester Street.Pledge of allegiance was recited.
All reasonable out of pocket costs and expenses so incurred (including actual and reasonable fees and expenses of counsel), together with interest thereon at the Overdue Rate from the date on which such sums or expenses are paid by the Lessor, shall be paid by the Construction Agent to the Lessor on demand; provided that such amount shall not exceed the Construction Failure Payment for the related Leased Property.
Except in conjunction with a payment by a Lessee ---------- or the Construction Agent of the Lease Balance, a Construction Failure Payment or a Leased Property Balance pursuant to the terms of the Lease or the Construction Agency Agreement, the Lessor shall have no right to prepay the Loans.
With respect to any Leased Property, the payment ---------------------------- by the Construction Agent of the Construction Failure Payment with respect thereto pursuant to the Construction Agency Agreement shall be applied by the Agent, first to the accrued and unpaid interest on, and the outstanding ----- principal of, the Loans in respect of such Leased Property, and second to the ------ Lessor.