Common use of Approval of Construction Clause in Contracts

Approval of Construction. No work associated with the Project shall be commenced or continued by Borrower unless and until the Plans and Specifications (and any changes thereto as required by Article V hereto) have been approved by Lender, by all Governmental Authorities having or claiming jurisdiction over the Land and Improvements, by the beneficiary of any applicable restrictive covenant whose approval is required, and by any other party whose approval is required under applicable agreements, and unless and until all building, construction and other Permits necessary or required in connection with the Project have been validly issued and all fees, bonds and any other security required in connection therewith have been paid or posted. Borrower shall obtain ▇▇▇▇▇▇'s prior written consent (in Lender's reasonable discretion) to any Major Subcontract. Borrower covenants and agrees with Lender that it will require covenants from the Developer, and use good faith and diligent efforts to require covenants from Subcontractors who have contracts directly with Borrower to the same effect as the covenant made by Borrower in the immediately preceding paragraph, and it will cause Developer to use good faith and diligent efforts to (i) require covenants from the General Contractor and Subcontractors who have contracts with Developer to the same effect as the covenant made by Borrower in the immediately preceding paragraph, and (ii) provide in the GC Agreement that the General Contractor will deliver to Lender or the Lender's Consultant copies of all change orders and any other contract, purchase order or subcontract covering labor, materials, equipment or furnishings to or for the Improvements, and the names of all persons with whom the Borrower, the Developer or the General Contractor has contracted or intends to contract for the construction of the Improvements or for the furnishing of labor or materials therefor. Borrower shall comply with the terms of the Development Agreement.

Approval of Construction. (a) No work associated with the Project Construction of any component of the Improvements to be constructed by Borrower pursuant to the Plans and Specifications shall be commenced or continued by Borrower unless and until the applicable Plans and Specifications for such component (and any changes thereto as required by Article V heretothereto) have been approved by Lender to the extent Lender’s approval is required in accordance with the terms of the Design/Build Agreement and this Agreement. Lender agrees that, where Lender’s approval is required under the Design/Build Agreement and this Agreement, such approval shall not be unreasonably withheld, conditioned or delayed and shall be granted or denied in no event later than ten (10) Business Days after the receipt of all documentation by the Lender in connection with the request for approval. In addition, no work associated with the Construction of any component of the Improvements to be constructed by Borrower pursuant to the Plans and Specifications shall be commenced or continued by Borrower unless and until the applicable Plans and Specifications for such component (and any changes thereto) have been approved by all Governmental Authorities having or claiming jurisdiction over the Land and Improvements, by the beneficiary of any applicable restrictive covenant whose approval is required, and by any other party whose approval is required under applicable agreements, and unless and until all building, construction and other Permits permits necessary or required in connection with the Project Construction of such component of the Improvements to be constructed by Borrower pursuant to the Plans and Specifications have been validly issued and all fees, bonds and any other security required in connection therewith have been paid or posted. . (b) The Construction Consultant shall receive copies of all Change Orders in accordance with the Design/Build Agreement. (c) Except for Change Orders which do not require Lender’s approval in accordance with the Design/Build Agreement, Borrower shall obtain ▇▇▇▇▇▇'s will not amend or supplement the Design/Build Agreement without the prior written consent of Lender (in Lender's reasonable discretion) not to any Major Subcontractbe unreasonably withheld conditioned or delayed). Borrower covenants and agrees will not enter into, authorize or permit any Change Order under the Design/Build Agreement except in compliance with Lender that it will require covenants from the Developer, and use good faith and diligent efforts to require covenants from Subcontractors who have contracts directly with Borrower to the same effect as the covenant made by Borrower in the immediately preceding paragraph, and it will cause Developer to use good faith and diligent efforts to (i) require covenants from the General Contractor and Subcontractors who have contracts with Developer to the same effect as the covenant made by Borrower in the immediately preceding paragraph, and (ii) provide in the GC Agreement that the General Contractor will deliver to Lender or the Lender's Consultant copies of all change orders and any other contract, purchase order or subcontract covering labor, materials, equipment or furnishings to or for the Improvements, and the names of all persons with whom the Borrower, the Developer or the General Contractor has contracted or intends to contract for the construction of the Improvements or for the furnishing of labor or materials therefor. Borrower shall comply with the terms of the Development AgreementSection 8.6.2 thereof.