Project Opening definition
Project Opening means, with respect to (a) any Project which is a new facility, when all of the following have occurred: (i) a certificate of occupancy (which may be a temporary certificate of occupancy) has been issued in respect of such Project and, if such Project includes gaming facilities, then such certificate of occupancy need only relate to such gaming facilities and not the remainder of such Project; (ii) such Project (or the gaming facility portion thereof in the case of a Project that includes gaming facilities and not the remainder of such Project) is in a condition (including installment of furnishings, fixtures and equipment) to receive customers in the ordinary course of business; (iii) if such Project includes gaming facilities, such gaming facilities (but not necessarily the hotel facilities if a hotel is contemplated to accompany such Project’s gaming facilities) are legally open for business and to the general public and operating in accordance with applicable law; and (iv) all Gaming Licenses, if applicable, with respect to such Project have been granted and not revoked or suspended, and (b) any Project which is an expansion, renovation or refurbishment, when clauses (ii), (iii) and (iv) have occurred, to the extent applicable.
Project Opening means the date on which Tenant receives a certificate of occupancy from the governmental agencies having jurisdiction in such matter, permitting the Project to be utilized for its intended purpose.
Project Opening means, with respect to any Project, when all of the following have occurred: (i) a certificate of occupancy (which may be a temporary certificate of occupancy) has been issued in respect of such Project; (ii) such Project is in a condition (including installation of furnishings, fixtures and equipment) to receive customers in the ordinary course of business; (iii) such Project’s gaming facilities, and if a hotel is contemplated to accompany the gaming facilities, such Project’s hotel and gaming facilities, are legally open for business and to the general public and operating in accordance with applicable law; and (iv) all Gaming Approvals with respect to such Project have been granted and not revoked or suspended.
Examples of Project Opening in a sentence
Borrower shall not permit the Consolidated Senior Secured Net Leverage Ratio as of the last day of any fiscal quarter of Borrower commencing with the second full fiscal quarter ending after the fiscal quarter in which the Wynn Massachusetts Project Opening Date occurs (the last day of such fiscal quarter, the “Initial Test Date”) to exceed 2.75 to 1.00.
After the Commencement Date, Tenant shall proceed with reasonable diligence to obtain all Construction Permits not theretofore obtained by Tenant, to commence and complete the Work in accordance with the Plans and, subject only to Unavoidable Delays and delays caused by Landlord or the County, the Work Schedule, and to obtain all Occupancy Permits and to open the Project (including the Casino) to the public ("Project Opening").
Private Entity agrees to participate in groundbreaking and Project Opening ceremonies as specified by the Owner.
Certificates of insurance with reasonably satisfactory evidence of payment of the premium thereof, shall be delivered to Landlord on or before the Commencement Date or date of Project Opening, as appropriate, and upon renewals of such policies, not less than 30 days after renewal.
Upon, and as a condition to, Project Opening, Tenant shall pay the Project Opening Fee described in Section 5(a)(ii).
More Definitions of Project Opening
Project Opening means, with respect to (a) any Project which is a new facility, when all of the following have occurred: (i) a certificate of occupancy (which may be a temporary certificate of occupancy) has been issued in respect of such Project and, if such Project includes gaming facilities, then such certificate of occupancy need only relate to such gaming facilities and not the remainder of such Project; (ii) such Project (or the gaming facility portion thereof in the case of a Project that includes gaming facilities and not the remainder of such Project) is in a condition (including installation of furnishings, fixtures and equipment) to receive customers in the ordinary course of business; (iii) if such Project includes gaming facilities, such Project’s gaming facilities (but not necessarily the hotel facilities if a hotel is contemplated to accompany such Project’s gaming facilities) are legally open for business and to the general public and operating in accordance with applicable law; and (iv) all Gaming Approvals, if applicable, with respect to such Project have been granted and not revoked or suspended, and (b) any Project which is an expansion, renovation or refurbishment, when clauses (ii), (iii) and (iv) have occurred, to the extent applicable.
Project Opening means, with respect to the Project, the date on which (a) a Borrower Final Completion Certificate has been delivered to Agent, in form and substance reasonably acceptable to Agent, certifying, among other things, that Substantial Completion has occurred, (b) the Project has opened to the public, (c) either (i) the first harness race has been held at the Project or (ii) the gaming tables have been opened to the public at the Project, (d) final receipts have been received from each Trade Contractor and that all other sums due in connection with the construction of the Project have been paid in full (other than amounts, in an aggregate amount not to exceed $250,000, which the Borrower is disputing in good faith and in an appropriate manner), (e) the Project has received a temporary or permanent Certificate of Occupancy from the applicable Governmental Authority, and (f) a Survey of the Project in the form of the Survey delivered to Agent on or before the Closing Date (as revised thereafter to the extent required under the Loan Documents) and otherwise reasonably acceptable to Agent showing the as-built location of the completed Project has been delivered to the Agent.
Project Opening means the opening of the Shop Space to the public.
Project Opening means the date the Project opens for business on a regular and continuous basis as a brand hotel under the Franchise Agreement and is accepting paying guests.
Project Opening means March 4, 2010.”
Project Opening means the date on which the gaming facility in ▇▇▇▇▇▇ County, Kansas that is the subject of the Project is opened to the public for gaming with no less than the Minimum Amenities.
Project Opening means, in relation to any Project, the date on which the first rental period in respect of any space or unit in such Project begins (as agreed by the Facility Agent and the Parent both acting reasonably) in relation to that Project, such agreement to be evidenced by a certificate in form and substance satisfactory to the Facility Agent signed by a duly authorised signatory of the Parent.