Third Party Construction Expert definition
Third Party Construction Expert means an independent construction consultant that (A) is not an Affiliate of Borrower, Administrative Agent or the Lenders and (B) is a reputable, nationally or regionally recognized construction consultant having at least five (5) years’ experience in advising on construction projects similar in scope, size and geographic location to the Permitted Alterations. Notwithstanding anything to the contrary herein, if (x) Guarantor makes a payment to Mezzanine A Lender under Section 2(a) of the Mezzanine A Completion Guaranty (defined below), or (y) Guarantor makes a payment to Mezzanine B Lender under Section 2(a) of the Mezzanine B Loan Completion Guaranty (defined below), such payment(s) (other than any Contest Expenses (as defined in the Completion Guaranty and Mezzanine B Loan Completion Guaranty, as applicable)) will be given appropriate credit under this Guaranty as if given for the benefit of Administrative Agent and the Lenders. As used in this Section 2(a), the following terms shall have the following meaning:
Third Party Construction Expert means an independent construction consultant that (A) is not an Affiliate of Borrower, Administrative Agent or the Lenders and (B) is a reputable, nationally or regionally recognized construction consultant having at least five (5) years’ experience in advising on construction projects similar in scope, size and geographic location to the applicable Work.