No Commencement. As of the date of this Agreement, no steps to commence construction on the Land have been taken, including, without limitation, steps to clear or otherwise prepare the Land for construction or the delivery of material for use in construction of the Improvements; and no contract or other agreement for construction has been entered into for furnishing materials for that construction or for any other purpose, the performance of which by the other party thereto could give rise to a Lien on the Mortgaged Property.
No Commencement. Subject to the terms and conditions of Section 22, if Developer has not commenced construction of the Project within ninety (90) days after the Closing Date, then, at any time until Developer commences construction of the Project, City may elect, in addition to any other legal and equitable remedies available to City, to (i) unilaterally terminate this Agreement and all Ancillary Agreements; and (ii) re-enter the Project Site and exercise its Power of Termination and cause title to the Mixed-Use Condominium Units to vest in CDC; and (iii) unilaterally terminate the Ancillary Documents, including, without limitation, Developer’s interest in and under the Garage Lease and Developer’s leasehold estate in the Garage and Garage Condominium Unit pursuant to the Garage Lease; in each case, without any liability or obligation to Developer or Project Lender. Subject to the foregoing, the Power of Termination and foregoing rights shall be deemed exercised upon delivery to Developer of written notice delivered at any time after such sixty (60) day period but prior to commencement of construction. Such notice shall be accompanied by the Divestiture Payment and such notice may be recorded by CDC contemporaneously with, or at any time after, its delivery to Developer. Upon delivery of such notice and payment to Project Lender of the Divestiture Payment, Developer shall surrender possession of the Mixed-Use Condominium Units to CDC and title to, and all estates of Developer in, the Garage Lease shall terminate, and the Mixed-Use Condominium Units and Developer’s leasehold estate in the Garage Condominium Unit shall automatically, and without further action, re-vest in CDC Any such re-vesting shall be free and clear of the Project Loan and any and all encumbrances, liens, mortgages, easements, agreements, and other matters of record other than existing immediately prior to CDC’s or RDC’s delivery of the Public Land Deed to Developer, and Project Lender shall immediately execute releases of any mortgages, assignments of leases and rents, and any other instruments encumbering the Mixed-Use Condominium Units whether or not such instruments are deemed released and/or extinguished by operation of law. No delay or failure by City Bodies to enforce any of the covenants, conditions, reservations and rights contained in this Section 17(a), or to invoke any available remedy with respect to an Event of Default by Developer shall under any circumstances be deemed or held to be a waiv...
No Commencement. Subject to Force Majeure, if Xxxxxxxx has not Commenced Construction of the Police Station within ninety (90) days after the Effective Date, then, at any time until Xxxxxxxx commences construction of the Police Station, City may elect, in addition to any other legal and equitable remedies available to City, to (i) unilaterally terminate this Agreement and all Ancillary Agreements; and (ii) exercise its Power of Termination without any liability or obligation to Xxxxxxxx or Police Station Lender, except as provided in this paragraph and in the Scoping Agreement. Subject to the foregoing, the Power of Termination and foregoing rights shall be deemed exercised upon delivery to Xxxxxxxx and Police Station Lender of written notice delivered at any time after such ninety (90) day period but prior to commencement of construction. Such notice shall be accompanied by the Divestiture Payment. Upon delivery of such notice and payment of the applicable Divestiture Payment to Xxxxxxxx, Xxxxxxxx shall abandon the Project Site and remove all equipment and personal property from the Project Site. No delay or failure by City Bodies to enforce any of the covenants, conditions, reservations and rights contained in this Section 7.04(A), or to invoke any available remedy with respect to an Event of Default by Hagerman shall under any circumstances be deemed or held to be a waiver by City Bodies of the right to do so thereafter, or an estoppel of City Bodies to assert any right available to it upon the occurrence, recurrence of continuation of any violation or violations hereunder. No consent from, or notice to, Police Station Lender or any cure right in favor of Police Station Lender shall be required in connection with the exercise of such right. The foregoing terms shall be incorporated into the Multi-Party Agreement.
No Commencement. Other than contracts for ordinary and customary maintenance of the Improvements and the completion of certain tenant improvements as described on Exhibit “D”, as of the date of this Agreement, no contract or other agreement for construction on the Mortgaged Property has been entered into for furnishing materials or for any other purpose, the performance of which by the other party thereto would give rise to a lien on the Land.
No Commencement. Except for sitework previously performed on the Phase II Land, all of which has been completed and paid in full, with full releases and lien waivers obtained from all Contractors and subcontractors performing any such work in accordance with applicable Governmental Requirements, as of the date hereof, no steps to commence construction on the Phase II Land have been taken, including, without limitation, steps to clear or otherwise prepare the Phase II Land for construction or the delivery of material for use in construction of the Improvements; and no action has been taken under the Construction Contract or any other contract or other agreement for construction which could give rise to a lien on the Phase II Land.
No Commencement. Subject to the terms and conditions of Section 22, if Commencement of Construction of the associated Project Phase Work has not occurred within ninety (90) days after each of the Bond Proceeds Dates, then, at any time until Commencement of Construction has occurred for the specific Project Phase Work for which Developer issued a Bond Proceeds Notice, City may elect, in addition to any other legal and equitable remedies available to City, to unilaterally terminate this Agreement and all Ancillary Agreements and notify Developer that no additional Bond Proceeds will be disbursed, without any liability or obligation to Developer or Project Lender. Subject to the foregoing, the Power of Termination and foregoing rights shall be deemed exercised upon delivery to Developer of written notice delivered at any time after such ninety (90) day period but prior to Commencement of Construction. No delay or failure by City Bodies to enforce any of the covenants, conditions, reservations and rights contained in this Section 17(a), or to invoke any available remedy with respect to an Event of Default by Developer shall under any circumstances be deemed or held to be a waiver by City Bodies of the right to do so thereafter, or an estoppel of City Bodies to assert any right available to it upon the occurrence, recurrence of continuation of any violation or violations hereunder. No consent from, or notice to, Project Lender or any cure right in favor of Project Lender shall be required in connection with the exercise of such right. The foregoing terms shall be incorporated into the Multi-Party Agreement.
No Commencement. With respect to each House or Lot, as of the date of each applicable Security Instrument, no steps to commence construction on the applicable Lots, including steps to clear or otherwise prepare such Lots for construction thereon or the delivery of material for use in construction of the Improvements, have been taken. With respect to each A&D Project, as of the date of each applicable Security Instrument, no steps to commence construction on the applicable Land, including steps to clear or otherwise prepare such Lots for construction thereon or the delivery of material for use in construction of the A&D Improvements, have been taken.
No Commencement. As of the date of recordation of the Mortgage, (a) no steps to commence construction on the Land, including steps to clear or otherwise prepare the Land for construction thereon or the delivery of materials for use in construction of the Improvements, have been taken, and (b) no contract or other agreement has been executed for construction (including development) on the Land for engineering, architecture or other design related to any such construction, has been entered into, for furnishing materials for such construction or for any other related purpose, the performance of which by the other party thereto could give rise to a Lien.
No Commencement. As of the date of this Agreement, no steps to commence construction on the Land, including steps to clear or otherwise prepare the Land for construction thereon or the delivery of material in connection therewith have been taken, nor has any contract or other agreement for construction thereon been entered into, for furnishing materials for such construction or for any other purpose, the performance of which by the other party thereto would give rise to a lien on the Land. LOAN AGREEMENT - Page 17 667404; Miami-Dade County – Florida
No Commencement. Except for work regarding limited scope preparatory work for the demolition of the existing building, as of the date hereof, no steps to commence construction on the Land have been taken, including, without limitation, steps to clear or otherwise prepare the Land for construction or the delivery of material for use in construction of the Improvements; and no action has been taken under the Construction Contract or any other contract or other agreement for construction which could give rise to a lien on the Land.
