Takedown Schedule definition
Examples of Takedown Schedule in a sentence
If Schedule C specifies a Takedown Schedule for the Allocation, the Authority will provide, and the Customer shall accept and pay for, Electric Service with respect to the Allocation in accordance with such Takedown Schedule.
Builder shall have the right to extend, for any reason, the dates for the acquisition of Homesites for each Property, as reflected in the Takedown Schedule for such Property, for a total of up to four (4) quarterly extensions (each, an “Extension”), beyond the dates set forth in the Takedown Schedule by delivering written notice to Owner of such election at least five (5) business days prior to the Takedown that is the subject of such Extension (each, an “Extension Notice”).
The Model Homes shall be constructed on Homesites within the Property identified in the Takedown Schedule or as otherwise designated by Builder (individually, each a “Model Home Homesite” and collectively, the “Model Home Homesites”) (unless otherwise indicated to the contrary, any reference herein to a Model Home shall include the corresponding Model Home Homesite).
The periods within which Builder must exercise the Option herein granted with respect to the scheduled Takedown of any of the Homesites in accordance with the Takedown Schedule are separate and apart from Contractor’s construction and completion obligations set forth in the Construction Agreement.
An Extension shall extend the timing for subsequent Takedowns of all Homesites for the applicable Property as set forth on the Takedown Schedule; provided, however, that as of the date (the “Catch Up Date”) of the final Takedown, Builder shall have acquired the cumulative number of Homesites required to have been acquired pursuant to the Takedown Schedule as of such Catch Up Date.
Accordingly, the Takedown Schedule shall not be adjusted regardless of any delays due to strikes, unavailability of materials, governmental delays, inability to obtain required governmental permits, acts of God or any other matters regardless of whether such matters can or cannot be anticipated and/or which are outside of the reasonable control of Builder or Contractor.
In order for the Option for a Property herein granted to remain effective, the applicable Builder Party must acquire each Takedown Group of Homesites for such Property (the closing for each such acquisition, a “Takedown”, and the group of Homesites to be acquired at each such Takedown, a “Takedown Group”) on or before the applicable date specified in the Takedown Schedule (the “Takedown Date”) (subject to the notice and cure provisions in the next sentence).
Once the title defect has been cured within the above-described ninety (90) day period, however, the Homesite shall no longer be deemed an Excluded Homesite and Builder must purchase the Homesite as close as possible to the order shown on the Takedown Schedule.
The Takedown Groups specified in the Takedown Schedule for each Property set forth the number of Homesites to be acquired during the time period specified therein.
If the Contractor reasonably concludes that the actual cost of Completing the Work is less than the Contract Sum (the “Unfunded Balance”), Owner shall, after all applicable conditions to making the Final Payment have been satisfied, provide Builder a credit toward the purchase price of the last Homesites if and when acquired by Builder in accordance with the Takedown Schedule under the Option Agreement by the amount of such savings, as provided in Section 4.6, below.