Common use of Approval of Construction Clause in Contracts

Approval of Construction. Recommencement of construction of the Project and the related Improvements shall not recommence by Borrower unless and until the Plans and Specifications have been approved by Lender [and any First Construction Lender]. Additionally, Borrower shall obtain all permits, consents, and authorizations necessary to recommence Construction of the Project from all Governmental Authorities having or claiming jurisdiction over the Property and Improvements, as well as by the beneficiary of any applicable restrictive covenant, if any, whose approval is required, and by any other party whose approval is required under applicable agreements. Finally, all applicable building, construction and other permits necessary or required in connection with recommencement of Construction of the Project and the related Improvements shall have been validly issued, and all applicable fees, bonds and any other security required in connection therewith have been paid or posted.