Construction Start and Completion. The Property Owner shall commence construction of the Project and shall diligently proceed with construction of the Improvements in accordance with the approved Plans and Budget and in a good, substantial and workmanlike manner in accordance with all applicable laws, ordinances, codes, rules and regulations. Construction of the Project shall be completed on or prior to the Outside Completion Date as defined in the Schedule of Financing Terms attached as Schedule II. If, in Capital Provider’s opinion, after thirty (30) days’ written notice to Property Owner, the construction is not proceeding with reasonable diligence, Capital Provider may (but shall not be obligated to) (i) request that Property Owner remove and replace the general contractor with a general contractor acceptable to Capital Provider, the failure of which by Property Owner shall be a default under this Agreement, (ii) utilize the C-PACE Financing funds and proceed with or continue construction of the Project and the disbursement of such funds shall be considered C-PACE Financing Advances, (iii) deny any C-PACE Financing Advances until such time as the construction resumes proceeding with reasonable diligence under a schedule approved by the Capital Provider, or (iv) exercise any other remedies available to Capital Provider under any other documents and instruments (including, without limitation, any disbursement agreement or completion guaranty) required pursuant to the
Construction Start and Completion. Borrower shall commence construction of the Development Work and the Construction Improvements no later than the date set forth in the Project Commitment and shall thereafter diligently proceed with construction and completion of the Development Work and Construction Improvements in a good and workmanlike manner in accordance with the Plans and Specifications and the Construction Progress Schedule; provided however that in the event construction of the Project is subject to delays caused by any Force Majeure Event, the Borrower shall provide to the Lender written notice of such delay, and if such delay will not exceed one hundred twenty (120) days in the aggregate or is otherwise reasonable in length, the Borrower shall not be deemed in default of its obligations assumed pursuant to this Loan Agreement Supplement solely by reason of such delay. The Borrower shall cause the Development Work and the Construction Improvements at all times to materially conform to the Laws and Regulations and shall accomplish completion of the Development Work and the Construction Improvements in accordance with the Construction Progress Schedule. Borrower shall cooperate at all times with Lender in bringing about the timely completion of each element of the Development Work and the Construction Improvements, and Borrower shall resolve all disputes arising during the work of construction in a manner which shall allow work to proceed expeditiously.
Construction Start and Completion. (a) Borrower shall commence construction of the Improvements prior to the date of this Loan Agreement.
Construction Start and Completion. Subject to a Force Majeure Event (but not having any effect on Section 8.1(a)(14) and Section 8.1(a)(16)) the Project Owner shall commence construction of the Development Work no later than the date set forth in the Project Commitment and shall thereafter diligently proceed with construction and completion of the Development Work in a good and workmanlike manner in normal course of business as a prudent developer. The Project Owner shall cause the Development Work at all times to materially conform to the Laws and Regulations and shall accomplish completion of the Development Work in the manner of a prudent developer. The Project Owner shall cooperate at all times with Lender in bringing about the timely completion of each element of the Development Work, and Project Owner shall use best efforts to resolve all disputes arising during the work of construction in a manner which shall allow work to proceed expeditiously.
Construction Start and Completion. 7.4.1 Borrower shall not commence construction of the Improvements, including, but not limited to, grading and site clearance, and shall not undertake any other act on the Real Property prior to recordation of the Deed of Trust, the result of which would cause any mechanics‟ or materialmen‟s lien thereafter filed to take priority over the lien of the Deed of Trust, unless prior arrangements satisfactory to both Bank and Title Insurer have been made.
Construction Start and Completion. The Property Owner shall commence construction of the Project and shall diligently proceed with construction of the Improvements in accordance with the approved Plans and Budget and in a good, substantial and workmanlike manner in accordance with all applicable laws, ordinances, codes, rules and regulations. Construction of the Project shall be completed on or prior to the Outside Completion Date as defined in the
Construction Start and Completion. The Borrower shall commence construction of the Project and submit a disbursement request for the First Advance within 90 days of the above stated date of this Agreement (and for the avoidance of doubt, the financing of any applicable closing and appraisal fees paid to Green Bank through the Initial Advance does not constitute the First Advance), unless this requirement is waived in writing by the Green Bank in its sole discretion. The Borrower shall diligently proceed with construction in accordance with the approved Plans and Budget in a good, substantial and workmanlike manner in accordance with all applicable laws, ordinances, codes, rules and regulations. Construction of the Project shall be completed on or prior to one hundred fifty (150) days after the above stated date of this Agreement, unless this requirement is waived in writing by the Green Bank in its sole discretion.
Construction Start and Completion. (a) Borrower has represented that construction of the Improvements has commenced prior to the date hereof.
Construction Start and Completion. Commence construction of the CCRC no later than thirty (30) days from the date hereof, and thereafter diligently proceed with construction of the CCRC, in a good and workmanlike manner in accordance with the Plans, and substantially complete construction of the CCRC in accordance with the Plans on or before the Substantial Completion Date. Borrower will, forthwith upon completion of the construction of the CCRC, cause the same to be inspected by each appropriate governmental body, shall correct any defects and deficiencies which may be required by any such inspection and shall cause to be duly issued all occupancy certificates and other temporary licenses, permits, and authorizations necessary for the occupancy of the Land and the CCRC and the operation of the CCRC as a skilled nursing facility and as a assisted living facility. In any event, Borrower shall do and perform all of the foregoing acts and things and cause to be issued and executed all such occupancy certificates, licenses and authorizations on or before the Completion Date subject to Force Majeure or Lender’s written consent to agree to extend such date.
Construction Start and Completion. (a) Borrower shall diligently proceed with construction and completion of the Homes in a good and workmanlike manner in accordance with the Plans and Specifications and its construction progress schedules, provided however that in the event construction of the Homes is subject to delays caused by any Force Majeure Event and the delay cannot be made up within the construction progress schedule, the Borrower shall provide to the Lender written notice of such delay, and if such delay will not exceed one hundred twenty (120) days in the aggregate or is otherwise reasonable in length, giving consideration to Force Majeure Events, the Borrower shall not be deemed in default of its obligations assumed pursuant to this Loan Agreement solely by reason of such delay.
