Acquisition and Construction Sample Clauses
Acquisition and Construction. The Company
(a) has acquired, or has the requisite legal power to acquire, all interests in land required for construction of the Project, and shall construct, install, equip and improve the Project with all reasonable dispatch and in accordance with the description thereof in Exhibit A attached hereto and applicable law, (b) shall procure or cause to be procured all permits and licenses necessary for the prosecution of the work, and (c) shall pay when due all costs and expenses incurred in connection with that acquisition, construction, installation, equipment and improvement from funds made available therefor in accordance with this Loan Agreement or otherwise. The Company will revise Exhibit A and such supplemental information from time to time as necessary to reflect material additions to, deletions from and changes in the Project and will notify the Issuer and the Trustee in writing of such modifications so that the Issuer and the Trustee will be able to ascertain the nature, location and estimated cost of the Project. It is understood that the Project is the property of the Company and that any contracts made by the Company with respect thereto and any work to be done on the Project is to be done by the Company in its own behalf and not as agent or contractor for the Issuer or the Trustee. In the event that Exhibit A hereto is to be amended or supplemented in accordance with the provisions of Section 9.3 of the Indenture, the Issuer will enter into, and will instruct the Trustee to consent to, an amendment of or supplement to Exhibit A hereto upon receipt by the Issuer and Trustee of:
(i) a certificate of an Authorized Company Representative describing in detail the proposed changes; and
(ii) a copy of the proposed form of amendment or supplement to Exhibit A hereto and such other documents, certificates and showings as may be required by counsel rendering the opinion in clause (iii) of this paragraph; and
(iii) an opinion of Bond Counsel to the effect that such amendment complies with the requirements of this Section 3.1, is in proper form for execution and delivery by the Issuer and will not adversely affect the validity of the Bonds or the exemption from federal income taxes of the interest thereon. The Company recognizes that since the Project has been or will be acquired, constructed and equipped by the Company and by contractors and suppliers selected by the Company in accordance with the plans and specifications, the Issuer makes no representa...
Acquisition and Construction. OF THE PROJECT; ISSUANCE OF THE BONDS
Acquisition and Construction. Prior to construction of the Project the Company acquired all interests in land required for construction. The Project has been completed and placed in service.
Acquisition and Construction. (a) The Project shall be acquired, constructed, equipped, and furnished with all reasonable dispatch, and the Company will use its best efforts to cause such acquisition, construction, improvement, equipping, and furnishing to be completed as soon as reasonably commercially practicable, delays incident to strikes, riots, acts of God, or the public enemy, or other causes beyond the reasonable control of the Company only excepted; but if for any reason there should be delays in such acquisition, construction, improvement, equipping, and furnishing there shall be no diminution in or postponement of the Loan Payments to be made by the Company hereunder, and no resulting liability on the part of the Issuer. The Company agrees, however, to use its best efforts to remedy with all commercially reasonable dispatch the cause or causes preventing it from carrying out its agreements; provided, that the settlement of strikes, lockouts and other industrial disturbances shall be entirely within the discretion of the Company, and the Company shall not be required to make settlement of strikes, lockouts and other industrial disturbances by acceding to the demands of the opposing party or parties when such course is, in the judgment of the Company, unfavorable to the Company.
(b) The Company shall acquire, construct, and improve the Project or cause the Project to be acquired, constructed, and improved in the manner provided in this Agreement and in accordance with the Plans and Specifications on file and available to the Issuer at each Facility during the construction period (subject to the restrictions of subsection (c) below) and the Trustee shall have no responsibility or liability whatsoever with respect to the Project and the acquisition, construction, improvement, equipping or furnishing thereof. The Company may amend, or cause to be amended, such Plans and Specifications, provided, however, that such Plans and Specifications shall not be amended in any material respect except as provided in subsection (d) below. It is agreed and understood that the Company will cause to be entered into and executed all agreements and contracts necessary to assure and accomplish the actual acquisition, construction, improving, equipping, and furnishing of the Project (and that the Issuer shall not execute any such agreements or contracts) and that the Company will cause to be carried out, paid, supervised, and enforced all such agreements and contracts, and will cause to be provided ...
Acquisition and Construction. The portions of the Facilities which are being financed by the Bonds have been acquired, constructed and installed and are currently in operation at the Plant.
Acquisition and Construction. Within thirty (30) days after the execution hereof, Company shall endeavor to close its purchase of the Storage Facilities, on terms and conditions satisfactory to Company. Thereafter, Company shall commence the construction and development of the Storage Facilities and shall provide Customer written notice of the commencement of construction and the date upon which Company anticipates that such facilities will be operational. Upon completion of construction, including testing, as required by all applicable federal, state and/or applicable codes, and all other matters required for operation, Company shall provide Customer written notice that said facilities are fully operational and shall state in such notice a date upon which Company will be ready to receive gas for storage, which date shall be not less than thirty (30) days following such notice (such date to be hereinafter referred to as the "Commencement Date"). If the Commencement Date does not occur on or before December 1, 1990, or such later date as may be agreed upon, (subject to a day for day extension for delays caused by an event(s) of "force majeure" as herein defined and for each day after March 8, 1990 which expires prior to the date that Company receives executed Firm Storage Contracts covering at least 165,000 MMBtu of MDWQ, as herein defined), for any reason, including, without limitation, Company's inability to close its purchase of the Storage Facilities on terms acceptable to Company, then either party shall have the right to terminate this Contract, without further liability or obligation to the other party hereunder, by providing the other party thirty (30) days prior written notice. Notwithstanding the foregoing, in the event that Customer gives notice of termination in accordance with the above and, thereafter, Company provides written notice to Customer stating a Commencement Date which will occur prior to the expiration of such thirty (30) day period, then, Customer's notice of termination shall be void and of no further force or effect and this Contract shall continue in accordance with its terms, unless Company is unable to commence service on the Commencement Date stated in its notice.
Acquisition and Construction. (a) The Project shall be acquired, constructed, equipped, and furnished with all reasonable dispatch, and the Company will use its best efforts to cause such acquisition, construction, equipping, and furnishing to be completed as soon as reasonably commercially practicable, delays incident to strikes, riots, acts of God, or the public enemy, or other causes beyond the reasonable control of the Company only excepted; but if for any reason there should be delays in such acquisition, construction, equipping, and furnishing there shall be no diminution in or postponement of the Loan Payments to be made by the Company hereunder, and no resulting liability on the part of the
Acquisition and Construction. 10 SECTION 3.2.
Acquisition and Construction. (a) The acquisition, construction, equipment and furnishing of the Project shall be completed with all reasonable dispatch, and the Issuer and the Company will use their best efforts to cause such acquisition, construction, equipping, and furnishing to be completed as soon as practicable, but if for any reason there should be delays in such acquisition, construction, equipping, and furnishing there shall be no diminution in or postponement of the Loan Payments to be made by the Company hereunder, and no resulting liability on the part of the Issuer.
(b) The Issuer shall loan the proceeds from the sale of the Bonds to the Company to be used to pay all or part of the Project Costs incurred or to be incurred by the Company. It is specifically provided, however, that none of the proceeds from the sale of the Bonds will be used to reimburse the Company for (and the Company hereby covenants and agrees not to request reimbursement of) any part of the Project Costs if such use would result in a violation of any of the Company's representations contained in Section 2.02 or the Tax Letter of Representation. However, if for any reason, the proceeds of the Bonds are not sufficient to pay all of the Project Costs incurred or to be incurred by the Company, such Project Costs not paid from the proceeds of the Bonds shall be funded or financed solely by the Company.
Acquisition and Construction