Common use of Project Contracts Clause in Contracts

Project Contracts. In the event of cost overruns in connection with the construction and equipping of the Project, either (a) the County shall make such modifications to the plans and specifications for the Project, or make such modifications to or deletions from the Equipment included in the Leased Property, as will permit such Project and Equipment to be otherwise constructed and equipped from the amounts available therefor in the Construction Fund, or (b) to the extent permitted by law, deposit additional funds in the Construction Fund sufficient to complete such construction and equipping of the Project. Upon the occurrence of an Event of Nonappropriation or an Event of Default, the Trustee [shall, at the written direction of the Insurer, or] may[, with the written consent of the Insurer,] complete the construction and equipping of the Project, utilizing any moneys remaining in the Construction Fund. All Project Contracts relating to the Project or Equipment included in the Leased Property shall provide that, upon a failure to renew the Lease Term by reason of the occurrence of an Event of Nonappropriation or an Event of Default or upon the Trustee’s assuming control over completion of the construction and equipping of the Project as provided in Section 7.01 of this Lease, and upon written notice by the Trustee to the party or parties to the Project Contract that any of such events has occurred: (i) such contracts shall be fully and freely assignable to the Trustee without the consent of any other person and the Trustee may choose to assume or not assume such Project Contract; and (ii) if the Trustee does so assume such Project Contract, the other party or parties thereto shall perform the agreements contained therein for the Trustee. All Project Contracts relating to the Project or Equipment included in the Leased Property shall also provide that, upon an Event of Nonappropriation or an Event of Default and upon written notice from the Trustee, the Trustee may terminate such Project Contract, and the other party or parties thereto shall then be entitled to payment only from amounts available therefor in the Construction Fund and only for work done prior to such termination. Upon the occurrence of an Event of Nonappropriation or an Event of Default or upon the Trustee’s assuming control over the construction and equipping of the Project as provided in Section 7.01 of this Lease, and upon receipt of a written request from the Trustee, the County shall assign all of its right, title, and interest in and to any or all Project Contracts relating to the Project to the Trustee and shall deliver all such Project Documents held by it to the Trustee.

Project Contracts. In Prior to the event delivery of cost overruns in connection this Lease, the Tenant may have entered into a contract or contracts with respect to the acquisition and/or construction of the Improvements. Those contracts, and any such contracts entered into by the Tenant or the Issuer after delivery of this Lease are hereinafter referred to as the “Project Contracts.” Prior to the delivery hereof, certain work has been or may have been performed on the Improvements pursuant to said Project Contracts or otherwise. The Tenant hereby covenants with the construction and equipping Issuer to perform the Project Contracts for the benefit of the Project, either (a) the County shall make such modifications Issuer as holder of title to the plans Leased Property as well as its own benefit as tenant under this Lease, and specifications the Issuer hereby designates the Tenant as the Issuer’s agent for the Projectpurpose of executing and performing the Project Contracts. After the execution hereof, or make such modifications to or deletions from the Equipment included in Tenant shall cause the Leased Property, as will permit such Project and Equipment Contracts to be otherwise constructed fully performed by the contractor(s), subcontractor(s) and equipped from supplier(s) thereunder in accordance with the amounts available therefor terms thereof, and the Tenant covenants to cause the Improvements to be acquired, constructed, installed and/or completed in accordance with the Construction Fund, or (b) to Project Contracts. The Tenant warrants that the extent permitted by law, deposit additional funds in the Construction Fund sufficient to complete such construction and equipping and/or acquisition of the Project. Upon the occurrence of an Event of Nonappropriation or an Event of Default, the Trustee [shall, at the written direction of the Insurer, or] may[, Improvements in accordance with the written consent of the Insurer,] complete the construction and equipping of the Project, utilizing any moneys remaining in the Construction Fund. All said Project Contracts relating to the Project or Equipment included will result in the Leased Property shall provide that, upon a failure to renew the Lease Term by reason of the occurrence of an Event of Nonappropriation or an Event of Default or upon the Trustee’s assuming control over completion of the construction and equipping of the Project as provided in Section 7.01 of this Lease, and upon written notice being suitable for use by the Trustee to Tenant as a commercial oil refinery facility. Any and all amounts received by the party or parties to the Project Contract that any of such events has occurred: (i) such contracts shall be fully and freely assignable to the Trustee without the consent of any other person and the Trustee may choose to assume or not assume such Project Contract; and (ii) if the Trustee does so assume such Project Contract, the other party or parties thereto shall perform the agreements contained therein for the Trustee. All Project Contracts relating to the Project or Equipment included in the Leased Property shall also provide that, upon an Event of Nonappropriation or an Event of Default and upon written notice from the TrusteeIssuer, the Trustee may terminate such Project Contractor the Tenant from any of the contractors or other suppliers by way of breach of contract, refunds or adjustments shall become a part of and the other party or parties thereto shall then be entitled to payment only from amounts available therefor deposited in the Construction Fund and only for work done prior to such termination. Upon the occurrence of an Event of Nonappropriation or an Event of Default or upon the Trustee’s assuming control over the construction and equipping of the Project as provided in Section 7.01 of this Lease, and upon receipt of a written request from the Trustee, the County shall assign all of its right, title, and interest in and to any or all Project Contracts relating to the Project to the Trustee and shall deliver all such Project Documents held by it to the TrusteeFund.

Project Contracts. In Prior to the event delivery of cost overruns in connection this Project Lease, the Tenant may have entered into a contract or contracts with respect to the acquisition and/or construction and equipping of the ProjectImprovements. Those contracts, either (a) and any such contracts entered into by the County shall make such modifications Tenant or the Issuer after delivery of this Project Lease, are hereinafter referred to as the "Project Contracts." Prior to the plans and specifications for delivery hereof, work has been or may have been performed on the Project, or make such modifications to or deletions from the Equipment included in the Leased Property, as will permit such Project and Equipment to be otherwise constructed and equipped from the amounts available therefor in the Construction Fund, or (b) to the extent permitted by law, deposit additional funds in the Construction Fund sufficient to complete such construction and equipping of the Project. Upon the occurrence of an Event of Nonappropriation or an Event of Default, the Trustee [shall, at the written direction of the Insurer, or] may[, with the written consent of the Insurer,] complete the construction and equipping of the Project, utilizing any moneys remaining in the Construction Fund. All Project Contracts relating Improvements pursuant to the Project Contracts or Equipment included otherwise. The Tenant hereby covenants with the Issuer to perform the Project Contracts for the benefit of the Issuer as its own benefit as tenant under this Project Lease, and the Issuer hereby designates the Tenant as the Issuer's agent for the purpose of executing and performing the Project Contracts. After the execution hereof, the Tenant shall cause the Project Contracts to be fully performed by the contractor(s), subcontractor(s) and supplier(s) thereunder in accordance with the terms thereof, and the Tenant covenants to cause the Improvements to be acquired, constructed, installed and/or completed in accordance with the Project Contracts. The Tenant warrants that the construction and/or acquisition of the Improvements in accordance with the Project Contracts will result in the Leased Property shall provide thatProject being suitable for use by the Tenant as a commercial facility. Any and all amounts received by the Issuer, upon a failure to renew the Lease Term by reason Bank or the Tenant from any of the occurrence contractors or other suppliers by way of breach of contract, refunds or adjustments shall become a part of and be deposited in the Project Fund. The Bank may, at its option, appoint an Event agent to review the Project Contracts, and make periodic inspections of Nonappropriation or an Event of Default or upon the Trustee’s assuming control over Improvements during construction to determine the satisfactory progress and completion of the construction work. The reasonable fees and equipping expenses of the Project as provided in Section 7.01 of this Lease, and upon written notice such agent shall be paid by the Trustee to the party or parties to the Project Contract that any of such events has occurred: (i) such contracts shall be fully and freely assignable to the Trustee without the consent of any other person and the Trustee may choose to assume or not assume such Project Contract; and (ii) if the Trustee does so assume such Project Contract, the other party or parties thereto shall perform the agreements contained therein for the Trustee. All Project Contracts relating to the Project or Equipment included in the Leased Property shall also provide that, upon an Event of Nonappropriation or an Event of Default and upon written notice from the Trustee, the Trustee may terminate such Project Contract, and the other party or parties thereto shall then be entitled to payment only from amounts available therefor in the Construction Fund and only for work done prior to such termination. Upon the occurrence of an Event of Nonappropriation or an Event of Default or upon the Trustee’s assuming control over the construction and equipping of the Project Tenant as provided in Section 7.01 of this Lease, and upon receipt of a written request from the Trustee, the County shall assign all of its right, title, and interest in and to any or all Project Contracts relating to the Project to the Trustee and shall deliver all such Project Documents held by it to the TrusteeAdditional Rent.

Project Contracts. In Prior to the event delivery of cost overruns in connection this Project Lease, the Tenant may have entered into a contract or contracts with respect to the acquisition and/or construction of the Improvements. Those contracts, and any such contracts entered into by the Tenant or the Issuer after delivery of this Project Lease, are hereinafter referred to as the "Project Contracts." Prior to the delivery hereof, certain work has been or may have been performed on the Improvements pursuant to the Project Contracts or otherwise. The Tenant hereby covenants with the construction and equipping Issuer to perform the Project Contracts for the benefit of the ProjectIssuer as its own benefit as tenant under this Project Lease, either (a) and the County shall make such modifications to Issuer hereby designates the plans and specifications Tenant as the Issuer's agent for the Projectpurpose of executing and performing the Project Contracts. After the execution hereof, or make such modifications the Tenant shall cause the Project Contracts to or deletions from be fully performed by the Equipment included contractor(s), subcontractor(s) and supplier(s) thereunder in accordance with the terms thereof, and the Tenant covenants to cause the Improvements to be acquired, constructed, installed and/or completed in accordance with the Project Contracts. The Tenant warrants that the construction and/or acquisition of the Improvements in accordance with the Project Contracts will result in the Leased Property, Project being suitable for use by the Tenant as will permit such Project a senior residence facility. Any and Equipment to be otherwise constructed and equipped from all amounts received by the amounts available therefor in the Construction Fund, or (b) to the extent permitted by law, deposit additional funds in the Construction Fund sufficient to complete such construction and equipping of the Project. Upon the occurrence of an Event of Nonappropriation or an Event of DefaultIssuer, the Trustee [shallor the Tenant from any of the contractors or other suppliers by way of breach of contract, refunds or adjustments shall become a part of and be deposited in the Project Fund. The Trustee may, at its option, appoint an agent to review the written direction Project Contracts, and make periodic inspections of the Insurer, or] may[, with Improvements during construction to determine the written consent of the Insurer,] complete the construction satisfactory progress and equipping of the Project, utilizing any moneys remaining in the Construction Fund. All Project Contracts relating to the Project or Equipment included in the Leased Property shall provide that, upon a failure to renew the Lease Term by reason of the occurrence of an Event of Nonappropriation or an Event of Default or upon the Trustee’s assuming control over completion of the construction work. The reasonable fees and equipping expenses of the Project as provided in Section 7.01 of this Lease, and upon written notice such agent shall be paid by the Trustee to the party or parties to the Project Contract that any of such events has occurred: (i) such contracts shall be fully and freely assignable to the Trustee without the consent of any other person and the Trustee may choose to assume or not assume such Project Contract; and (ii) if the Trustee does so assume such Project Contract, the other party or parties thereto shall perform the agreements contained therein for the Trustee. All Project Contracts relating to the Project or Equipment included in the Leased Property shall also provide that, upon an Event of Nonappropriation or an Event of Default and upon written notice from the Trustee, the Trustee may terminate such Project Contract, and the other party or parties thereto shall then be entitled to payment only from amounts available therefor in the Construction Fund and only for work done prior to such termination. Upon the occurrence of an Event of Nonappropriation or an Event of Default or upon the Trustee’s assuming control over the construction and equipping of the Project Tenant as provided in Section 7.01 of this Lease, and upon receipt of a written request from the Trustee, the County shall assign all of its right, title, and interest in and to any or all Project Contracts relating to the Project to the Trustee and shall deliver all such Project Documents held by it to the TrusteeAdditional Rent.

Project Contracts. In the event of cost overruns in connection with the construction and equipping of the Project, either (a) the County shall make such modifications Prior to the plans and specifications for the Project, or make such modifications to or deletions from the Equipment included in the Leased Property, as will permit such Project and Equipment to be otherwise constructed and equipped from the amounts available therefor in the Construction Fund, or (b) to the extent permitted by law, deposit additional funds in the Construction Fund sufficient to complete such construction and equipping of the Project. Upon the occurrence of an Event of Nonappropriation or an Event of Default, the Trustee [shall, at the written direction of the Insurer, or] may[, with the written consent of the Insurer,] complete the construction and equipping of the Project, utilizing any moneys remaining in the Construction Fund. All Project Contracts relating to the Project or Equipment included in the Leased Property shall provide that, upon a failure to renew the Lease Term by reason of the occurrence of an Event of Nonappropriation or an Event of Default or upon the Trustee’s assuming control over completion of the construction and equipping of the Project as provided in Section 7.01 delivery of this Lease, the Tenant may have entered into a contract or contracts with respect to the acquisition and/or construction of the Improvements. Those contracts, and upon written notice any such contracts entered into by the Trustee to Tenant or the party or parties to the Project Contract that any of such events has occurred: (i) such contracts shall be fully and freely assignable to the Trustee without the consent of any other person and the Trustee may choose to assume or not assume such Project Contract; and (ii) if the Trustee does so assume such Project Contract, the other party or parties thereto shall perform the agreements contained therein for the Trustee. All Project Contracts relating to the Project or Equipment included in the Leased Property shall also provide that, upon an Event of Nonappropriation or an Event of Default and upon written notice from the Trustee, the Trustee may terminate such Project Contract, and the other party or parties thereto shall then be entitled to payment only from amounts available therefor in the Construction Fund and only for work done prior to such termination. Upon the occurrence of an Event of Nonappropriation or an Event of Default or upon the Trustee’s assuming control over the construction and equipping of the Project as provided in Section 7.01 Issuer after delivery of this Lease, and upon receipt of a written request from are hereinafter referred to as the Trustee“Project Contracts.” Prior to the delivery hereof, certain work has been or may have been performed on the County shall assign all of its right, title, and interest in and Improvements pursuant to any or all said Project Contracts relating or otherwise. The Tenant hereby covenants with the Issuer to perform the Project Contracts for the benefit of the Issuer as holder of title to the Project as well as its own benefit as tenant under this Lease, and the Issuer hereby designates the Tenant as the Issuer’s agent for the purpose of executing and performing the Project Contracts. After the execution hereof, the Tenant shall cause the Project Contracts to be fully performed by the contractor(s), subcontractor(s) and supplier(s) thereunder in accordance with the terms thereof, and the Tenant covenants to cause the Improvements to be acquired, constructed, installed and/or completed in accordance with the Project Contracts. The Tenant warrants that the construction and/or acquisition of the Improvements in accordance with said Project Contracts will result in the Project being suitable for use by the Tenant as a “manufacturing” facility. Any and all amounts received by the Issuer, the Trustee or the Tenant from any of the contractors or other suppliers by way of breach of contract, refunds or adjustments shall become a part of and shall deliver all such be deposited in the Project Documents held by it to the TrusteeFund.

Project Contracts. In Prior to the event delivery of cost overruns in connection this Project Lease, the Tenant may have entered into a contract or contracts with respect to the acquisition and/or construction and equipping of the ProjectImprovements. Those contracts, either (a) and any such contracts entered into by the County shall make such modifications Tenant or the Issuer after delivery of this Project Lease, are hereinafter referred to as the "Project Contracts." Prior to the plans and specifications for delivery hereof, certain work has been or may have been performed on the Project, or make such modifications to or deletions from the Equipment included in the Leased Property, as will permit such Project and Equipment to be otherwise constructed and equipped from the amounts available therefor in the Construction Fund, or (b) to the extent permitted by law, deposit additional funds in the Construction Fund sufficient to complete such construction and equipping of the Project. Upon the occurrence of an Event of Nonappropriation or an Event of Default, the Trustee [shall, at the written direction of the Insurer, or] may[, with the written consent of the Insurer,] complete the construction and equipping of the Project, utilizing any moneys remaining in the Construction Fund. All Project Contracts relating Improvements pursuant to the Project Contracts or Equipment included otherwise. The Tenant hereby covenants with the Issuer to perform the Project Contracts for the benefit of the Issuer as its own benefit as tenant under this Project Lease, and the Issuer hereby designates the Tenant as the Issuer's agent for the purpose of executing and performing the Project Contracts. After the execution hereof, the Tenant shall cause the Project Contracts to be fully performed by the contractor(s), subcontractor(s) and supplier(s) thereunder in accordance with the terms thereof, and the Tenant covenants to cause the Improvements to be acquired, constructed, installed and/or completed in accordance with the Project Contracts. The Tenant warrants that the construction and/or acquisition of the Improvements in accordance with the Project Contracts will result in the Leased Property shall provide thatProject being suitable for use by the Tenant as a commercial facility. Any and all amounts received by the Issuer, upon a failure to renew the Lease Term by reason Bank or the Tenant from any of the occurrence contractors or other suppliers by way of breach of contract, refunds or adjustments shall become a part of and be deposited in the Project Fund. The Bank may, at its option, appoint an Event agent to review the Project Contracts, and make periodic inspections of Nonappropriation or an Event of Default or upon the Trustee’s assuming control over Improvements during construction to determine the satisfactory progress and completion of the construction work. The reasonable fees and equipping expenses of the Project as provided in Section 7.01 of this Lease, and upon written notice such agent shall be paid by the Trustee to the party or parties to the Project Contract that any of such events has occurred: (i) such contracts shall be fully and freely assignable to the Trustee without the consent of any other person and the Trustee may choose to assume or not assume such Project Contract; and (ii) if the Trustee does so assume such Project Contract, the other party or parties thereto shall perform the agreements contained therein for the Trustee. All Project Contracts relating to the Project or Equipment included in the Leased Property shall also provide that, upon an Event of Nonappropriation or an Event of Default and upon written notice from the Trustee, the Trustee may terminate such Project Contract, and the other party or parties thereto shall then be entitled to payment only from amounts available therefor in the Construction Fund and only for work done prior to such termination. Upon the occurrence of an Event of Nonappropriation or an Event of Default or upon the Trustee’s assuming control over the construction and equipping of the Project Tenant as provided in Section 7.01 of this Lease, and upon receipt of a written request from the Trustee, the County shall assign all of its right, title, and interest in and to any or all Project Contracts relating to the Project to the Trustee and shall deliver all such Project Documents held by it to the TrusteeAdditional Rent.

Project Contracts. In the event of cost overruns in connection with the construction and equipping of the Project, either (a) the County shall make such modifications Prior to the plans and specifications for the Project, or make such modifications to or deletions from the Equipment included in the Leased Property, as will permit such Project and Equipment to be otherwise constructed and equipped from the amounts available therefor in the Construction Fund, or (b) to the extent permitted by law, deposit additional funds in the Construction Fund sufficient to complete such construction and equipping of the Project. Upon the occurrence of an Event of Nonappropriation or an Event of Default, the Trustee [shall, at the written direction of the Insurer, or] may[, with the written consent of the Insurer,] complete the construction and equipping of the Project, utilizing any moneys remaining in the Construction Fund. All Project Contracts relating to the Project or Equipment included in the Leased Property shall provide that, upon a failure to renew the Lease Term by reason of the occurrence of an Event of Nonappropriation or an Event of Default or upon the Trustee’s assuming control over completion of the construction and equipping of the Project as provided in Section 7.01 delivery of this Lease, the Tenant has or may have entered into a contract or contracts with respect to the acquisition and/or construction of Improvements. Those contracts, and upon written notice any such contracts entered into by the Trustee Tenant after delivery of this Lease are hereinafter referred to as the “Project Contracts.” Prior to the party delivery hereof, certain work has been or parties may have been performed on the Improvements pursuant to said Project Contracts or otherwise. The Tenant hereby covenants with the Issuer to perform the Project Contracts for the benefit of the Issuer as holder of title to the Project Contract that any of such events has occurred: (i) such contracts shall be fully and freely assignable to the Trustee without the consent of any other person and the Trustee may choose to assume or not assume such Project Contract; and (ii) if the Trustee does so assume such Project Contract, the other party or parties thereto shall perform the agreements contained therein for the Trustee. All Project Contracts relating to the Project or Equipment included in the Leased Property shall also provide that, upon an Event of Nonappropriation or an Event of Default and upon written notice from the Trustee, the Trustee may terminate such Project Contract, and the other party or parties thereto shall then be entitled to payment only from amounts available therefor in the Construction Fund and only for work done prior to such termination. Upon the occurrence of an Event of Nonappropriation or an Event of Default or upon the Trustee’s assuming control over the construction and equipping of the Project as provided in Section 7.01 of well as its own benefit as tenant under this Lease, and upon receipt the Issuer hereby designates the Tenant as the Issuer’s agent for the purpose of a written request from executing and performing the TrusteeProject Contracts. After the execution hereof, the County Tenant shall assign all of its rightcause the Project Contracts to be fully performed by the contractor(s), titlesubcontractor(s) and supplier(s) thereunder in accordance with the terms thereof, and interest the Tenant covenants to cause the Improvements to be acquired, constructed, installed and/or completed in and to any or all accordance with the Project Contracts. The Tenant warrants that the construction and/or acquisition of the Improvements in accordance with said Project Contracts relating to will result in the Project to being suitable for use by the Tenant as a commercial office building and tech center facility.” Any and all amounts received by the Issuer, the Trustee or the Tenant from any of the contractors or other suppliers by way of breach of contract, refunds or adjustments shall become a part of and be deposited in the Project Fund. The Trustee may, at its option, appoint an agent to review the Project Contracts, and make periodic inspections of the Improvements during construction to determine the satisfactory progress and completion of the work. The reasonable fees and expenses of such agent shall deliver all such Project Documents held be paid by it to the TrusteeTenant as Additional Rent.