Failure to Construct. If Borrower fails to obtain permits, or to commence and prosecute construction of the Development to completion, within the times set forth in Article 3 above.
Failure to Construct. If for any reason or under any contingency the General Contractor shall default under a Construction Contract, fail to commence, or abandon construction of, the Capital Projects, or fail to complete the Capital 11 12 Projects within the maximum construction time in accordance with the terms of the Construction Contracts, then in any such event, without the need of any demand by Lessor, Lessee shall assume all responsibility for and control over the construction, performance and completion of the Capital Projects and shall cause the Capital Projects to be fully completed in accordance with the Lease, as hereby amended, on or before the Outside Date, other than Punch List Items. If Lessee fails to complete the Capital Projects in accordance with the Plans prior to the Outside Date other than the Punch List Items, Lessor, at Lessor's option, shall have the right to complete the Capital Projects in accordance with the Plans and expend such sums as Lessor reasonably deems proper in order so to complete the Capital Projects. The amount of any and all expenditures made by Lessor pursuant to this clause (ii) which, when combined with all Project Costs previously funded by Lessor, are in excess of Lessor's Maximum Cost, shall be immediately due and payable by Lessee to Lessor as an Additional Charge, together with interest thereon from the date of such expenditure to the date paid by Lessee at a daily rate equal to Two Percent (2%) above the Prime Rate (but in no event greater than the maximum rate of interest then permitted by law). Upon any assumption by Lessor of the obligation to complete the Capital Projects as provided herein, Lessee shall forthwith surrender and deliver to Lessor, or Lessor's designee, any funds which have been received from Lessor but have not been disbursed by Lessee, and all records, plans, specifications, permits and other governmental approvals, purchase agreements, contracts, receipts for deposits, unpaid bills and all other records, papers and documents in the possession of Lessee relating to the Capital Projects.
Failure to Construct. Failure of Borrower to obtain permits, commence, and prosecute to completion, construction of the Development within the times set forth in the Schedule of Performance, subject to extensions for reasons of force majeure under Section 7.15.
Failure to Construct. If Developer provides a Commencement Notice as required by Section 2.1 but does not timely complete construction of the Project as herein provided, then Developer shall pay to the City all sums incurred by the City with regard to the preparation and drafting of this Agreement and all other sums not recoverable from Tax Increments (as defined below). All repayments shall be completed within thirty (30) calendar days after Developer’s non- performance or Default under this Agreement.
Failure to Construct. The failure of Licensee to commence construction and installation of a Service Area’s Improvements within 90 days after the applicable License’s Grant Date shall constitute a Default. In addition, Licensee’s failure to complete a Service Area’s Improvements within 120 days after the applicable Estimated Completion Date (or within six months after the License’s Grant Date if the Construction Memorandum fails to indicate an Estimated Completion Date) shall constitute a Default (it being understood that a Service Area’s Improvements shall be deemed “complete” when Licensee receives an Approval Notice, which shall not be unreasonably withheld or delayed, or fails to receive such a notice within five business days after receiving a Completion Notice and does not in the interim receive a Disapproval Notice, with respect to such Service Area). Default under this section 10.6 shall be deemed a non-curable Default for which Licensor shall have the right to terminate the License granted with respect to the applicable Facility immediately upon written notice of Default to Licensee.
Failure to Construct. A. Failure of Company to commence construction of Company’s Improvements within six (6) months of the Commencement Date of this Agreement (or any extended date for the commencement of construction as agreed to in writing by the Parties) will constitute an event of default under the Default and Termination Article of this Agreement, allowing Authority to terminate this Agreement and have no further obligations hereunder. Prior to such termination, Authority will notify Company and its leasehold mortgagee(s) (if any) of its intent to terminate this Agreement, which notice will include a cure period as described in this Agreement.
Failure to Construct. If Xxxxxxxx fails to obtain permits, commence and prosecute to completion, rehabilitation of the Development within the times set forth in Article 3 above.
Failure to Construct. In the event Redeveloper shall fail to implement or construct the Project pursuant to the Project Schedule, subject to the occurrence of an Event of Force Majeure and the provisions hereto, or shall abandon or substantially suspend construction of the Project for a continuous period in excess of one hundred twenty (120) days, unless such suspension arises out of an Event of Force Majeure, and any such Event of Default, violation, abandonment, or suspension shall not be cured within thirty (30) days after written demand by the Borough to do so, or such longer period if incapable of cure within such thirty (30) day period and Borough agrees to extend such time to cure, provided that Redeveloper has commenced and is diligently prosecuting such cure.
Failure to Construct. Subject to Section 7.15 below, failure of Borrower to obtain permits, commence, and prosecute to completion, construction of the Development within the times set forth in Article 3 above.
Failure to Construct. In the event that Ameren Missouri is unable to Construct the Project or commences Construction but is unable to complete the Project, Ameren Missouri shall file for abandonment of the Project and use commercially reasonable efforts to obtain from FERC approval to recover all costs incurred in the Construction of the Project as of the date Ameren Missouri notifies XXXXXX it has elected not to proceed with the Construction of the Project. In the event Ameren Missouri is unable to obtain approval to receiver all costs incurred in the Construction of the Project, the amount of any costs not approved for recovery shall be allocated among the Parties based upon each Party’s Participation Percentage.
