Additional Covenants and Conditions. Before any contractor(s) or subcontractors(s) shall be permitted upon the premises of the Building for the purpose of undertaking the Alterations to the Apartment I shall: (a) furnish the Corporation with a letter from a licensed engineer or architect, which letter shall certify that the electrical loads required as a result of the Alterations: (i) will not be in excess of the present electrical capacity of the Apartment; and (ii) will not adversely affect the Building’s electrical service. (b) file the Plans with all proper municipal departments and obtain all governmental approvals, permits, and certificates that may be required. The Managing Agent shall be notified of the building permit number, if any, assigned to the Plans and shall be given a copy of each of the permits and aforementioned certificates within 10 days of my receiving same; (c) furnish the Corporation with a conformed copy of each and every agreement made with my contractor(s) or subcontractor(s); (d) have each of the contractor(s) and subcontractor(s) execute the Indemnity and Insurance Rider (the “Rider”) annexed hereto as Rider III and the Rider shall be expressly incorporated by reference into and become a part of any and all agreement(s) made with my contractor(s); (e) procure from my contractor and submit for the Corporation’s approval, the contractor’s written agreement waiving, to the extent legally permissible, the right to file any mechanic’s liens or other liens, attachment or encumbrance against the Corporation’s property which may arise out of or in connection with the Alterations. Proof that the contractor has obtained similar waivers from all subcontractors shall be filed with the Managing Agent before such subcontractors commence their work. If I am unable to obtain said waiver of liens, then I may in lieu of such waivers provide the Corporation with a Labor and Material Payment Bond from a surety company acceptable to the Corporation, in the Corporation’s discretion; (f) furnish the Corporation with a copy of the Rider fully executed by any contractor(s) undertaking the Alterations to the Apartment; (g) furnish the Corporation with all Certificates of Insurance called for pursuant to the terms of the Rider and copies of any policies, if requested; (h) designate a responsible party;
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Sources: Alteration Agreement
Additional Covenants and Conditions. Before any contractor(s) or subcontractors(s) shall be permitted upon the premises of the Building for the purpose of undertaking the Alterations to the Apartment I shall:
(a) furnish the Corporation with a letter from a licensed engineer or architect, which letter shall certify that the electrical loads required as a result of the Alterations:
(i) will not be in excess of the present electrical capacity of the Apartment; and
(ii) will not adversely affect the Building’s electrical service.
(b) file the Plans with all proper municipal departments Agreed Payments under Commodities Contracts. Enron and obtain all governmental approvals, permits, and certificates that may be required. The Managing Agent shall be notified of the building permit number, if any, assigned to the Plans and shall be given a copy of each of the permits parties to the Commodities Contracts hereby agree, as a compromise, settlement and aforementioned certificates within 10 days of my receiving same;
(c) furnish the Corporation with a conformed copy of each and every agreement made with my contractor(s) or subcontractor(s);
(d) have each of the contractor(s) and subcontractor(s) execute the Indemnity and Insurance Rider (the “Rider”) annexed hereto as Rider III and the Rider shall be expressly incorporated by reference into and become a part resolution in full of any and all agreement(samounts otherwise due and payable thereunder, that concurrently with the execution and delivery of the Merger Agreement by the parties thereto, NewPower shall pay (in the manner stipulated in the second following sentence) made with my contractor(s);
to ENA, EPMI and EESI the aggregate sum of $98,058,000.00 (e) procure from my contractor and submit for the Corporation’s approvalsuch amount, the contractor’s written agreement waiving"Stipulated Settlement Amount"), which payment shall constitute a compromise, settlement and final resolution of all amounts that any party to the Commodities Contracts may owe or be owed thereunder. Except to the extent legally permissiblespecified in Section 6 hereof, immediately upon payment in full of all principal and accrued and unpaid interest under the Note (defined below) (i) all such Commodities Contracts shall terminate automatically without further action of any party thereto, such Commodities Contracts shall cease to be of any force or effect and Enron, NewPower and each of the parties to the Commodities Contracts on behalf of themselves and each of their respective Subsidiaries shall be FULLY, COMPLETELY AND FOREVER RELEASED and, upon such payment, do hereby so release each other from all rights, duties and obligations accrued, contingent or otherwise (whether past, present, future or otherwise and whether at law or in equity) in and under the Commodities Contracts and (ii) any and all guarantees of Enron or any other guarantor of the Enron Parties or NewPower or any other guarantor of the NewPower Parties ("Guarantors") in respect of any of the Commodities Contracts shall be terminated, and Guarantors are FULLY, COMPLETELY AND FOREVER RELEASED from all rights, duties and obligations accrued, contingent or otherwise (whether past, present, future or otherwise and whether at law or in equity) in and under any such guarantees. Payment in full of the Stipulated Settlement Amount shall be made by (i) ENA's, EPMI's and EESI's retention of the $70,058,000.00 held as cash collateral under the Commodities Contracts, free and clear of any obligation to pay or repay any portion thereof or any interest thereon to, or any other rights of or obligations to, any NewPower Party and (ii) the balance of $28,000,000.00 to be made by delivery concurrently with the execution and delivery of this Agreement to EESI ("Payee") of the promissory note in the form attached as Annex A hereto (the "Note"). Each of the NewPower Parties and each of the Enron Parties agrees (except to the extent specified in Section 6 hereof) that as a condition to NewPower's obligation to pay the principal amount and all accrued and unpaid interest under the Note upon its maturity, NewPower shall have received executed UCC-3 Termination Statements (the "UCC-3's"), which NewPower shall be authorized to file in the appropriate jurisdictions upon payment of all amounts due and owing under the Note, covering all collateral subject to a security interest under the Security Agreement (as defined below) and that upon receipt by Payee of payment in full in cash or immediately available funds of all amounts due and owing to the holder of the Note, the right General Security Agreement, dated as of October 18, 2001 (the "Security Agreement"), by NewPower in favor of EESI, ENA and EPMI, shall be canceled and terminated, all Collateral (as defined in the Security Agreement), excluding the $70,058,000.00 to be retained by EESI, ENA and EPMI as provided above, shall be released from the security interest created thereunder and each of EESI, ENA, EPMI and Enron, if required, severally agrees to take such actions as may be necessary to reflect such release and termination of such security interest in and to such Collateral (including, without limitation, filing or causing to be filed UCC-3 termination statements as are necessary or appropriate to effect the releases contemplated by this sentence; provided, however, that NewPower shall be authorized to file any mechanic’s liens or other liensthe UCC-3's. Except for the payment of the amounts due under the Note, attachment or encumbrance against from and after the Corporation’s property which may arise out execution and delivery of or in connection with the Alterations. Proof that Note none of the contractor has obtained similar waivers from all subcontractors shall be filed with the Managing Agent before such subcontractors commence their work. If I am unable to obtain said waiver of liens, then I may in lieu of such waivers provide the Corporation with a Labor and Material Payment Bond from a surety company acceptable parties to the Corporation, in the Corporation’s discretion;
(f) furnish the Corporation with a copy Commodities Contracts shall have any further rights or obligations to any of the Rider fully executed by any contractor(sother parties with respect to such Commodities Contracts or the applicable portions thereof so terminated as provided in this Section 5(a) undertaking the Alterations (except to the Apartment;
(g) furnish the Corporation with all Certificates of Insurance called for pursuant to the terms of the Rider and copies of any policies, if requested;
(h) designate a responsible party;extent specified in Section 6 hereof).
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