Common use of Amendments; Modifications Clause in Contracts

Amendments; Modifications. (a) The Construction Agent may at any time revise, amend or modify (i) the Plans and Specifications without the consent of the Lessor; provided, that any such amendment to the Plans and Specifications does not (x) result in the Completion Date of the Improvements occurring on or after the Construction Period Termination Date or (y) result in the cost of all Improvements exceeding the amount specified in the Construction Budget, as amended from time to time, or an amount equal to the sum of the then Available Commitments plus the then Available Holder Commitments (reduced by the amount, if any, necessary to pay for the cost of construction and development of Improvements on other Properties which are currently under construction but have not yet been completed (such amount the "Unfunded Amount")), and (ii) the Construction Budget and enter into any related amendments, modifications or supplements without the consent of the Lessor; provided, that such revisions, amendments or modifications to the Plans and Specifications or related amendments, modifications or supplements to the Construction Budget do not result in any increase in total Property Costs greater than the amount specified in the Construction Budget, as amended from time to time, or the then Available Commitments and Available Holder Commitment (reduced by the Unfunded Amount).

Amendments; Modifications. (a) The Construction Agent may at any time revise, amend or modify (i) the Plans and Specifications without the consent of the Lessor; provided, that any such amendment to the Plans and Specifications does not (x) result in the Completion Date of the Improvements occurring on or after the Construction Period Termination Date or (y) result in the cost of all Improvements exceeding the lesser of the amount specified in the Construction Budget, as amended from time to time, or an amount equal to the sum of the then Available Commitments plus the then Available Holder Commitments (reduced by the amount, if any, necessary to pay for the cost of construction and development of Improvements on other Properties which are currently under construction but have not yet been completed (such amount the "Unfunded Amount")), and (ii) the Construction Budget and enter into any related amendments, modifications or supplements without the consent of the Lessor; provided, that such revisions, amendments or modifications to the Plans and Specifications Construction Budget or related amendments, modifications or supplements to the Construction Budget do not result in any increase in total Property Costs greater than the amount specified in the Construction Budget, as amended from time to time, or the then Available Commitments and Available Holder Commitment (reduced by the Unfunded Amount).

Amendments; Modifications. (a) The Construction Agent may at any time revise, amend or modify (i) the Plans and Specifications without the consent of the Lessor; provided, that any such amendment to the Plans and Specifications does not (x) result in the Completion Date of the Improvements occurring on or after the Construction Period Termination Date or (y) result in the cost of all Improvements exceeding the amount specified in the Construction Budget, as amended from time to time, or an amount equal to the sum of the then Available Commitments plus the then Available Holder Commitments (reduced by the amount, if any, necessary to pay for the cost of construction and development of Improvements on other Properties which are currently under construction but have not yet been completed (such amount the "Unfunded Amount")), and (ii) the Construction Budget and enter into any related amendments, modifications or supplements without the consent of the Lessor; provided, that such revisions, amendments or modifications to the Plans and Specifications or related amendments, modifications or supplements to the Construction Budget do not result in any increase in total Property Costs greater than the amount specified in the Construction Budget, as amended from time to time, or the then Available Commitments and Available Holder Commitment (reduced by the Unfunded Amount). Notwithstanding the foregoing, it is specifically understood and agreed that if at any time the total Property Costs remaining to be expended exceed the Unfunded Amount, the Construction Agent shall have the rights to purchase set forth in Section 5.3(c) and the limitations on recourse set forth in Section 5.4.

Amendments; Modifications. (a) The Subject to Section 3.2(c), the Construction Agent may at any time revise, amend or modify (i) the Plans and Specifications without the consent of the Lessor; provided, that any such amendment to the Plans and Specifications does not (x) result in the Completion Date of the Improvements occurring on or after the Construction Period Termination Date or (y) result in the cost of all Improvements exceeding the amount specified in the Construction Budget, as amended from time to time, or an amount equal to the sum of the then Available Commitments plus the then Available Holder Commitments (reduced by the amount, if any, necessary to pay for the cost of construction and development of Improvements on other Properties which are currently under construction but have not yet been completed (such amount the "Unfunded Amount")), and (ii) the Construction Budget and enter into any related amendments, modifications or supplements without the consent of the LessorLessor (including without limitation adjusting or amending line items or amounts allocated to a particular item or reserve in the Construction Budget based upon savings actually incurred or which are reasonably expected to occur with respect to such item or reserve or excess amounts originally allocated in the Construction Budget for a particular item in the Construction Budget); provided, that such revisions, amendments or modifications to the Plans and Specifications or related amendments, modifications or supplements to the Construction Budget do not result in (A) any increase in total Property Costs greater than the amount specified in the Construction Budget, as amended from time to time, or the then Available Commitments and Available Holder Commitment (reduced by the Unfunded Amount)) or (B) a breach of, or default under, the guaranteed maximum price Construction Contract with respect to such Property.

Amendments; Modifications. (a) The Construction Agent may at any time revise, amend or modify (i) the Plans and Specifications without the consent of the Lessor; provided, provided that any such amendment to the Plans and Specifications does not (x) result in the Completion Date of the Improvements occurring on or after the earlier of the Outside Completion Date and the Construction Period Termination Date or Date, and/or (y) result in the cost Project Costs of all any Improvements subject to such amendment exceeding the amount specified in the Construction Budget, as amended from time to time, or an amount equal to either (1) the sum of the then Available Commitments plus and the then Available Holder Investor Commitments (reduced by the amount, if any, necessary to pay for the cost of construction and development of Improvements on other Properties which are currently under construction but have not yet CONSTRUCTION AGENCY AGREEMENT been completed (such amount amount, the "Unfunded Amount"))) or (2) 110% of the Projected Completion Value with respect to such Improvements, and (ii) the Construction Budget and enter into any related amendments, modifications or supplements without the consent of the LessorBudget; provided, provided that such revisions, amendments or modifications to the Plans and Specifications or related amendments, modifications or supplements to the Construction Budget do not result in any increase in total Property the Project Costs greater than either (A) the amount specified in the Construction Budget, as amended from time to time, or sum of the then Available Commitments and the then Available Holder Commitment Investor Commitments (reduced by the Unfunded Amount)unfunded amount) or (B) 110% of the Projected Completion Value with respect to such Property.

Amendments; Modifications. (a) The Construction Agent may at any time revise, amend or modify (i) the Plans and Specifications without the consent of the Lessor; provided, provided that any such amendment to the Plans and Specifications does not (x) result in the Completion Date of the Improvements occurring on or after the Construction Period Termination Date or (y) result in the cost total Property Cost of all the Improvements exceeding and the Land included in a Property being less than the minimum amount specified in Section 5.4(e) of the Construction Budget, as amended from time Participation Agreement or (z) result in the cost of any Improvements subject to time, or an amount equal to such amendment exceeding the sum of the then Available Commitments plus and the then Available Holder Commitments (reduced by the amount, if any, necessary to pay for the cost of construction and development of Improvements on other Properties which are currently under construction but have not yet been completed (such amount the "Unfunded Amount")), and (ii) the Construction Budget and enter into any related amendments, modifications or supplements without the consent of the Lessor; provided, provided that such revisions, amendments or modifications to the Plans and Specifications or related amendments, modifications or supplements to the Construction Budget do not (A) result in any increase in the total Property Cost of the Improvements and the Land included in a Property being less than the minimum amount specified in Section 5.4(e) of the Participation Agreement or (B) result in unfunded Project Costs being greater than the amount specified in the Construction Budget, as amended from time to time, or sum of the then Available Commitments and the then Available Holder Commitment Commitments (reduced by the Unfunded Amount).

Amendments; Modifications. (a) The Construction Agent may at any time revise, amend or modify (i) the Plans and Specifications without the consent of the Lessor; provided, PROVIDED that any such amendment to the Plans and Specifications does not (x) result in the Completion Date of the Improvements occurring on or after the Construction Period Termination Date or (y) result in the cost total Property Cost of all the Improvements exceeding and the Land included in a Property being less than the minimum amount or more than the maximum amount specified in SECTION 5.4(E) of the Construction Budget, as amended from time Participation Agreement or (z) result in the cost of any Improvements subject to time, or an amount equal to such amendment exceeding the sum of the then Available Commitments plus and the then Available Holder Commitments (reduced by the amount, if any, necessary to pay for the cost of construction and development of Improvements on other Properties which are currently under construction but have not yet been completed (such amount the "Unfunded AmountUNFUNDED AMOUNT")), and (ii) the Construction Budget and enter into any related amendments, modifications or supplements without the consent of the Lessor; provided, PROVIDED that such revisionsrevision, amendments modification or modifications to the Plans and Specifications or related amendments, modifications or supplements amendment to the Construction Budget do does not (A) result in any increase in the total Property Cost of the Improvements Equipment and Land included in a Property being less than the minimum amount or more than the maximum amount specified in SECTION 5.4(E) of the Participation Agreement or (B) result in unfunded Project Costs being greater than the amount specified in the Construction Budget, as amended from time to time, or sum of the then Available Commitments and the then Available Holder Commitment Commitments (reduced by the Unfunded Amount) or (C) result in the aggregate Construction Budget (as amended, modified or revised) for any Property being larger than 105% of the initial Construction Budget delivered to the Agent with respect to such Property (prior to any amendments, modifications or revisions).