Pre-Completion Transfer Requirements definition

Pre-Completion Transfer Requirements means (a) Borrower shall have retained, within ten (10) days after the effective date of the applicable Transfer, a third party construction manager approved by Administrative Agent and the Required Lenders (pursuant to a contract approved by Administrative Agent) to manage and supervise the completion of the Improvements (unless Administrative Agent shall have determined, in their reasonable judgment, that the individuals that are directly responsible for the management of the managing member of Borrower possess adequate capacity and experience necessary to supervise and manage the construction of the Improvements without the assistance of a third-party approved construction manager), (b) if such Transfer or removal results in the termination or cancellation of the construction contract with the General Contractor, Borrower shall have entered into a new general construction contract for the completion of construction of the Improvements within thirty (30) days after the effective date of such termination or cancellation of the construction contract, and Administrative Agent shall have approved the new general contractor and the terms and conditions of the new general construction contract in its reasonable discretion, and (c) if such Transfer or removal results in the termination or cancellation of the property management agreement, Borrower shall have retained, within ten (10) days after the effective date of such termination or cancellation, a third party property manager which may be one of the property managers pre-approved in Section 2.18 or another property manager reasonably acceptable to Administrative Agent pursuant to a contract reasonably approved by Administrative Agent to manage, lease, and operate the Project.
Sample 1

Related to Pre-Completion Transfer Requirements

  • Regulatory Conditions means the conditions set out in paragraphs 3.3 to 3.5 (inclusive) of Part A of Appendix I to the Announcement;

  • Step Down Conditions As of any Distribution Date on which any decrease in any Senior Prepayment Percentage may apply, (i) the outstanding Principal Balance of all Mortgage Loans 60 days or more Delinquent (including Mortgage Loans in REO and foreclosure), averaged over the preceding six month period, as a percentage of the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates on such Distribution Date, does not equal or exceed 50% and (ii) cumulative Realized Losses with respect to all of the Mortgage Loans do not exceed: · for any Distribution Date on or after the seventh anniversary until the eighth anniversary of the first Distribution Date, 30% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the eighth anniversary until the ninth anniversary of the first Distribution Date, 35% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the ninth anniversary until the tenth anniversary of the first Distribution Date, 40% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the tenth anniversary until the eleventh anniversary of the first Distribution Date, 45% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, and · for any Distribution Date on or after the eleventh anniversary of the first Distribution Date, 50% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date.

  • Project Completion means completion of the Redevelopment in accordance with this Agreement to the state where the whole of the Morley Shopping Centre, as so redeveloped, is capable of occupation for its intended purpose;

  • Final Completion means the date determined and certified by A/E and Owner on which the Work is fully and satisfactorily complete in accordance with the Contract.

  • Completion Notice means a notice issued by the Developer in accordance with clause 6.1.

  • Project Completion Date means the date on which the Completion Certificate is issued;

  • Project Completion Schedule means the progressive Project Milestones set forth in Schedule-J for completion of the Project Highway on or before the Scheduled Completion Date;

  • Required Regulatory Approvals means the Seller Required Regulatory Approvals and the Buyer Required Regulatory Approvals.

  • Completion Deadline means August 15, 2018, or such later date as may be agreed to in writing by the Parties;

  • Offer Conditions has the meaning set forth in Section 1.01(b).

  • Improvement completion assurance means a surety bond, letter of credit,

  • Tests after Completion means the tests (if any) which are specified in the Contract and which are carried out in accordance with the Specification after the Works or a Section (as the case may be) are taken over by the Procuring Entity.

  • project completion period means the period of sixty (60) months commencing from and expiring on for the construction and obtaining of Temporary Occupation Permit or Permits for the whole of the Development as provided in clause 3.3;

  • Construction Completion Date means the date by which the overall development of the Project is completed in accordance with the provisions of this Agreement and when the Construction Completion Certificate is issued by the Independent Engineer as per Article 14.1.

  • Additional Conditions means the terms and conditions set out in the Offer Document.

  • Target Completion Date has the meaning given such term in Section 3.3(b).

  • Construction Completion means physical construction of a cleanup action component is complete.

  • Product Conditions means these product terms and conditions. These Product Conditions apply to each series of cash settled Warrants over single equities;

  • Construction Completion Certificate means a document:

  • COMPLETION TIME means the period by date specified in the acceptance of tender for handing over the erected equipment/plant which are found acceptable by the Engineer being of required standard and conforming to the specifications of the contract.

  • Scheduled Completion Date shall be the date set forth in Clause 10.3;

  • Completion Schedule means the fulfilment of the Related Services by the Supplier in accordance with the terms and conditions set forth in the Contract;

  • Specific Conditions means the conditions in addition or in variation to the general conditions which the Commission may lay down specifically for a distribution licensee;

  • Proposed Change Order (PCO means a document that informs Contractor of a proposed change in the Work and appropriately describes or otherwise documents such change including Contractor’s response of pricing for the proposed change.

  • Interconnection Feasibility Study means either a Generation Interconnection Feasibility Study or Transmission Interconnection Feasibility Study.

  • Virtual Completion means the premise is in the opinion of the Employer fit for occupation.