Acquisition and Construction of Project Clause Samples

Acquisition and Construction of Project. As provided in Section 3.02 of the Indenture, a portion of the proceeds of sale of the Bonds will be applied to pay the Site Lease Payment to the City in accordance with Section 3 of the Site Lease. The Site Lease Payment shall be deposited into the Project Fund, which is established under the Indenture, to be disbursed for the purpose of paying Project Costs. Upon the completion of the Project, the City shall file a Written Certificate of the City with the Trustee, which Written Certificate shall identify the amount (if any) to be retained in the Project Fund to pay remaining Project Costs.
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Acquisition and Construction of Project. The Company agrees to acquire the Project Site and the Company shall be responsible for the construction, equipping and operation of the Project as an approximately 880,254 square foot omni channel distribution and fulfillment center, containing approximately 60,000 square feet of office space, and including land, buildings, structures, improvements and fixtures, all generally located on approximately 65 acres southeast of the intersection of State Avenue and Speedway Boulevard, as generally set forth on Exhibit C hereto, at an estimated total cost to the Company of $403,000,000. Any material modifications to the construction or operation of the Project, including decreasing the size of the facility to less than 704,000 square feet or affecting the general use of the Project as described herein, shall require the prior written consent of the governing body of the Issuer, and the Issuer reserves the right to declare an Event of Default pursuant to Section 5.1 hereof if such modifications are made by the Company without such prior written consent. The Company will not be deemed to be in default of this Agreement if the actual costs of the Project deviate from the figures listed above. Company and Issuer acknowledge that, before the Project Site may be acquired by Company, the Issuer must approve a subdivision to create the Project Site as a legally separate parcel that may be conveyed by Kansas International Speedway Corporation (“Seller”) to Company (the “Subdivision Approval”). If the ordinance approving the Subdivision Approval is not adopted by Issuer not later than December 22, 2020 (the “Outside Approval Date”), Company shall have the right to terminate this Agreement by written notice to Issuer given to Issuer after the Outside Approval Date.
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Acquisition and Construction of Project. The Company has conveyed the Premises to the Issuer and the Company, as agent of the Issuer, hereby agrees to acquire, construct, rehabilitate and equip the Project in accordance with this Article III, substantially in accordance with the plans and specifications therefor prepared by it including any and all supplements, amendments and additions (or deletions) thereto (or therefrom); provided, however, that such other facilities and property contemplated by such supplements, amendments, additions or deletions to the plans and specifications shall not materially impair the effective use or character of the Project as contemplated by this Agreement or disqualify the Project as a "Project" within the meaning of the Act or result in the interest on any Bonds becoming includable in the gross income of the owners of the Bonds for Federal income tax purposes. In the event that Exhibit A or Exhibit B hereto is to be amended or supplemented in accordance with the provisions of Section 9.01 of the Indenture, the Issuer will enter into, and will instruct the Trustee to consent to, an amendment of or supplement to Exhibit A or Exhibit B hereto upon receipt of: (i) a copy of the proposed form of amendment or supplement to Exhibit A or Exhibit B hereto; and (ii) the written approving opinion of Bond Counsel to the effect that such amendment or supplement will not have the effect of disqualifying the Project as a "project" within the meaning of the Act or result in the interest on any Bonds becoming includable in the gross income of the owners of the Bonds for Federal income tax purposes.
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Acquisition and Construction of Project 
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Related to Acquisition and Construction of Project

  • Design and Construction of the Project Highway 10.1 Obligations prior to commencement of Works (i) Within 20 (twenty) days of the Appointed Date, the Contractor shall: (a) appoint its representative, duly authorised to deal with the Authority in respect of all matters under or arising out of or relating to this Agreement; (b) appoint a design director (the “Design Director”) who will head the Contractor’s design unit and shall be responsible for surveys, investigations, collection of data, and preparation of preliminary and detailed designs; (c) undertake and perform all such acts, deeds and things as may be necessary or required before commencement of Works under and in accordance with this Agreement, the Applicable Laws and Applicable Permits; and (d) make its own arrangements for quarrying of materials needed for the Project Highway under and in accordance with the Applicable Laws and Applicable Permits. (ii) The Authority shall, appoint an engineer (the “Authority’s Engineer”) before the Appointed Date to discharge the functions and duties specified in this Agreement, and shall notify to the Contractor the name, address and the date of appointment of the Authority’s Engineer forthwith. (iii) Within 30 (thirty) days of the Appointed Date, the Contractor shall submit to the Authority and the Authority’s Engineer a programme (the “Programme”) for the Works, developed using networking techniques, for review and consent of the Engineer, giving the following details: (a) Part I : Contractor’s organisation for the Project, the general methods and arrangements for design and construction, environmental management plan, Quality Assurance Plan including design quality plan, traffic management and safety plan covering safety of users and workers during construction (including use of ‘ROBOTS’ for diversion and control of traffic), Contractor’s key personnel and equipment. (b) Part II : Programme for completion of all stages of construction given in Schedule-H and Project Milestones of the Works as specified in Project Completion Schedule set forth in Schedule-J. The Programme shall include: i. the order in which the Contractor intends to carry out the Works, including the anticipated timing of design and stages of Works; ii. the periods for reviews under Clause 10.2; iii. the sequence and timing of inspections and tests specified in this Agreement; and iv. the particulars for the pre-construction reviews and for any other submissions, approvals and consents specified in the Agreement. The Contractor shall submit a revised Programme whenever the previous Programme is inconsistent with the actual progress or with the Contractor’s obligations. (c) Part III : Monthly cash flow forecast. (iv) The Contractor shall compute, on the basis of the Drawings prepared in accordance with Clause 10.2 (iv), and provide to the Authority’s Engineer, the length, area and numbers, as the case may be, in respect of the various items of work specified in Schedule-H and comprising the Scope of the Project. The Parties expressly agree that these details shall form the basis for estimating the interim payments for the Works in accordance with the provisions of Clause 19.3. For the avoidance of doubt, the sum of payments to be computed in respect of all the items of work shall not exceed the Contract Price, as may be adjusted in accordance with the provisions of this Agreement. (v) The Contractor shall appoint a safety consultant (the “Safety Consultant”) to carry out a safety audit at the design stage of the Project Highway in accordance with the Applicable Laws and Good Industry Practice. The Safety Consultant shall be appointed after proposing to the Authority a panel of three (3) names of qualified and experienced firms from which the Authority may choose one (1) to be the Safety Consultant. Provided, however, that if the panel is not acceptable to the Authority and the reasons for the same are furnished to the Contractor, the Contractor shall propose to the Authority a revised panel of three (3) names from the firms empanelled as safety consultants by the [Ministry of Road Transport and Highways] for obtaining the consent of the Authority. The Contractor shall also obtain the consent of the Authority for the key personnel of the Safety Consultant who shall have adequate experience and qualifications in safety audit of the highway projects. The Authority shall, within 15 (fifteen) days of receiving a proposal from the Contractor hereunder, convey its decision, with reasons, to the Contractor, and if no such decision is conveyed within the said period, the Contractor may proceed with engaging of the Safety Consultant. (vi) The safety audit pursuant to Clause 10.1 (v) shall be carried out by the Safety Consultant in respect of all such design details that have a bearing on safety of Users as well as pedestrians and animals involved in or associated with accidents. The recommendations of the Safety Consultant shall be incorporated in the design of the Project Highway and the Contractor shall forward to the Authority’s Engineer a certificate to this effect together with the recommendations of the Safety Consultant. In the event that any works required by the Safety Consultant shall fall beyond the scope of Schedule-B, Schedule-C or Schedule-D, the Contractor shall make a report thereon and seek the instructions of the Authority for Change in Scope. For the avoidance of doubt, the Safety Consultant to be engaged by the Contractor shall be independent of the design and implementation team of the Contractor.

  • Design and Construction In complying with the requirements of the specification both with respect to arrangement and detail, design is to conform to the best current engineering practice. Each of the several parts of the material is to be of the maker’s standard design provided that this design is in general accordance with the specification. The essence of design should be simplicity and reliability in order to give long continuous service with high economy and low maintenance cost. Particular attention should be paid to internal and external access in order to facilitate inspection, cleaning and maintenance. The design dimensions and materials of all parts are to be such that they will not suffer damage as a result of stresses under the most severe conditions. Fully detailed specifications of the several parts of the material are to be submitted describing particularly the materials to be used. The materials used in the construction of the material are to be of the highest quality and selected particularly to meet the duties required of them. Mechanisms are to be constructed to avoid sticking due to rust or corrosion. Workmanship and general finish are to be of the highest class throughout. All similar parts of the material are to be interchangeable. All equipment is to operate without undue vibration and with the least possible amount of noise and is not to cause a nuisance. All equipment is to be designed to minimize the risk of fire and any damage, which may be caused in the event of fire. The equipment is also to be designed to prevent ingress of all vermin, accidental contact with live parts and to minimize the ingress of dust and dirt. The use of materials, which may be liable to attack by termites or other insects, is to be avoided.

  • Construction of Project 11.1.1 Developer agrees to cause the Project to be developed, constructed, and installed in accordance with the terms hereof and the Construction Provisions set forth in Exhibit D, including those things reasonably inferred from the Contract Documents as being within the scope of the Project and necessary to produce the stated result even though no mention is made in the Contract Documents.

  • Interpretation and Construction When a reference is made in this Agreement to a Section, such reference shall be to a Section of this Agreement, unless otherwise indicated. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Whenever the words “include,” “includes” and “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” The words “hereof, “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The word “will” shall be construed to have the same meaning as the word “shall.” The words “dates hereof” will refer to the date of this Agreement. The word “or” is not exclusive. The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms. Any agreement, instrument, law, rule or statute defined or referred to herein means, unless otherwise indicated, such agreement, instrument, law, rule or statute as from time to time amended, modified or supplemented. Each of the parties hereto acknowledges that it has been represented by counsel of its choice throughout all negotiations that have preceded the execution of this Agreement, and that it has executed the same with the advice of said independent counsel. Each party cooperated and participated in the drafting and preparation of this Agreement and the documents referred to herein, and any and all drafts relating thereto exchanged among the parties shall be deemed the work product of all of the parties and may not be construed against any party by reason of its drafting or preparation. Accordingly, any rule of law or any legal decision that would require interpretation of any ambiguities in this Agreement against any party that drafted or prepared it is of no application and is hereby expressly waived by each of the parties hereto, and any controversy over interpretations of this Agreement shall be decided without regards to events of drafting or preparation.

  • New Construction If this contract is for a Property that is newly constructed and the new construction option is selected, coverage begins on day one (1) of month thirteen