Major Construction. If Borrower intends to engage in any construction, remodeling or demolition project or series of related projects on the Property, other than Approved Projects (as defined below) with respect to the Property, the aggregate cost of which will exceed $750,000 during the term of the Loan, Borrower shall first notify Lender, and such construction project shall be subject to Lender’s approval, which approval shall not be unreasonably withheld. Any proposed construction project submitted in writing to Lender for approval and not disapproved by Lender within thirty (30) days after receipt thereof, shall be deemed to be approved by Lender. For purposes of this Section 3.3(e), “
Major Construction. In connection with any construction constituting a Major Amount to the Buildings and/or Improvements (“Major Construction”) Tenant shall comply with all the following conditions:
Major Construction. If Borrower or any Wholly owned Subsidiary or Subpartnership intends to engage in any construction, remodeling or demolition project or series of related projects, with respect to an Eligible Project (each, a "Construction Project"), the aggregate cost of which will exceed $1,000,000.00, Borrower shall first notify Agent, provided that (i) if any Construction Project (whether or not carried on simultaneously or in conjunction with other Construction Projects) consists of construction of improvements which would materially adversely affect the value of such Eligible Project or (ii) the aggregate cost of such Construction Project (other than for tenant improvements) will exceed $5,000,000.00 (a "Major Construction Project"), such Major Construction Project shall be subject to approval of the Majority Lenders, which approval shall not be unreasonably withheld.
Major Construction. Borrower shall give Lender not less than 60-days' prior written notice before commencing any construction, remodeling or demolition project or series of related projects with respect to an Eligible Property of Borrower or any Subsidiary, the aggregate cost of which will exceed $250,000. If (a) any such project would reasonably be expected to have a Materially Adverse Effect or (b) the aggregate cost of such project will exceed $2,000,000, then Borrower or such Subsidiary, as applicable, shall not commence such project without the prior written consent of Lender, which approval shall not be unreasonably withheld, conditioned or delayed, and will be deemed granted if no written denial is received within 60 days after written notice to Lender of the project together with an adequate description of the project which is reasonably acceptable to Lender.
Major Construction. The Borrower shall not, and shall not permit any Subsidiary owning a Borrowing Base Property to, commit to undertake any plan of renovation of any Borrowing Base Property when (a) the estimated cost of such renovation is in excess of $10,000,000 and (b) such renovation will result in structural changes to such Borrowing Base Property, without first obtaining the prior written consent of the Requisite Lenders (which consent shall not be unreasonably withheld). If the Borrower delivers to the Administrative Agent any plans, specifications, information or other materials relating to its request to renovate a Borrowing Base Property, the Administrative Agent will forward such materials to the Lenders within fifteen (15) Business Days from the date the Administrative Agent receives such materials. Unless a Lender has given written notice to the Administrative Agent that such Lender will not consent to such renovation within fifteen (15) Business Days of receipt of all plans, specification, information and other materials relating to the Borrower's request, such Lender shall be deemed to have consented to such renovation.
Major Construction. To compensate Operator for overhead costs incurred in the construction and installation of fixed assets, the expansion of fixed assets, and any other project clearly discernible as a fixed asset required for the development and operation of the Joint Property, Operator shall either negotiate a rate prior to the beginning of construction, or shall charge the Joint Account for overhead based on the following rates for any Major Construction project in excess of $ ___: See Attached Addenda
Major Construction. If the Borrower or any of its Affiliates intends to engage in any construction, remodeling or demolition project or series of related projects with respect to a Collateral Pool Property (each, a "Construction Project"), the aggregate cost of which will exceed ten -------------------- percent (10%) of the As-Is Value of such property, Borrower shall first notify the Agent, and such Construction Project shall be subject to the Required Banks' approval, which approval shall not be unreasonably withheld.
Major Construction. If Borrower intends to engage in any construction, remodeling or demolition project or series of related projects on the Property, other than Approved Projects (as defined below) with respect to the Property, the aggregate cost of which will exceed $500,000 during the term of the Loan, Borrower shall first notify Lender, and such construction project shall be subject to Lender’s approval, which approval shall not be unreasonably withheld. Any proposed construction project submitted in writing to Lender for approval and not disapproved by Lender within thirty (30) days after receipt thereof, shall be deemed to be approved by Lender. For purposes of this Section 3.3(e), “Approved Projects” shall mean tenant improvements required under the terms of any Lease, except to the extent that such tenant improvements would involve the making of material structural alterations to the affected Property.
Major Construction. If Borrower or any Guarantor Subpartnership intends to engage in (or permit any obligor under an Assigned Mortgage to engage in) any construction, remodeling or demolition project or series of related projects with respect to a Borrowing Base Property, the aggregate cost of which will exceed One Million Dollars ($1,000,000), Borrower shall first notify Agent, and such construction project shall be subject to Agent's approval, which approval shall not be unreasonably withheld. Any proposed construction project submitted to Agent for approval and not disapproved by Agent within thirty (30) days after receipt thereof, shall be deemed to be approved by Agent.
Major Construction. If Borrower intends to engage in any construction, remodeling or demolition project or series of related projects on the Property, other than Approved Projects (as defined below) with respect to the Property, the aggregate cost of which will exceed $750,000 during the term of the Loan, Borrower shall first notify Lender, and such construction project shall be subject to Lender’s approval, which approval shall not be unreasonably withheld. Any proposed construction project submitted in writing to Lender for approval and not disapproved by Lender
