COMMENCEMENT AND COMPLETION OF THE PROJECT Sample Clauses

COMMENCEMENT AND COMPLETION OF THE PROJECT. Contractor understands and agrees that all Work required under this Contract shall be fully completed, as set forth in the Contract Documents, within 60 calendar days of the date of the Notice to Proceed. Contractor acknowledges and understands that it is an essential term of this Contract that Contractor maintain a rate of progress in the Work that will result in completion of the Project in accordance with the Contract Documents, and to that end, Contractor agrees to proceed with all due diligence to complete the Work in a timely manner in accordance with the Contract Documents.

COMMENCEMENT AND COMPLETION OF THE PROJECT. Section 3.01 The Project (a) The Company intends and expects, together with any Sponsor Affiliate, to (i) construct and acquire the Project, (ii) meet the Enhanced Minimum Investment Requirement, and (iii) create approximately 125 new, full-time jobs (with benefits) within the Investment Period. The Company anticipates that the first Phase of the Project will be placed in service during the calendar year ending December 31, 2025. (b) Pursuant to the FILOT Act and subject to Section 4.03 hereof, the Company and the County hereby agree that the Company and any Sponsor Affiliates shall identify annually those assets which are eligible for FILOT Payments under the FILOT Act and this Fee Agreement, and which the Company or any Sponsor Affiliate selects for such treatment by listing such assets in its annual PT-300S form (or comparable form) to be filed with the Department (as such may be amended from time to time) and that by listing such assets, such assets shall automatically become Economic Development Property and therefore be exempt from all ad valorem taxation during the Exemption Period. Anything contained in this Fee Agreement to the contrary notwithstanding, the Company and any Sponsor Affiliates shall not be obligated to complete the acquisition of the Project. However, if the Company, together with any Sponsor Affiliates, does not meet the Enhanced Minimum Investment Requirement within the Investment Period, the provisions of Section 4.03 hereof shall control. (c) The Company may add to the Land such real property, located in the same taxing District in the County as the original Land, as the Company, in its discretion, deems useful or desirable. In such event, the Company, at its expense, shall deliver an appropriately revised Exhibit A to this Fee Agreement, in form reasonably acceptable to the County.

COMMENCEMENT AND COMPLETION OF THE PROJECT. The Project‌

COMMENCEMENT AND COMPLETION OF THE PROJECT. SECTION 3.01 THE PROJECT 7 SECTION 3.02 DILIGENT COMPLETION 7 SECTION 3.03 FILINGS AND REPORTS 7

COMMENCEMENT AND COMPLETION OF THE PROJECT. Section 3.01 The Project 8 Section 3.02 Diligent Completion 8 Section 3.03 Filings and Reports 8

COMMENCEMENT AND COMPLETION OF THE PROJECT. Section 3.1 The Project. The Company intends to invest in Equipment, Improvements, and/or Real Property, which together comprise the Project and which are anticipated to create at least the Act Minimum Investment Requirement in eligible Economic Development Property investment subject to Payments in Lieu of Taxes in the County. The parties hereto agree that, to the extent that applicable law allows or is revised or construed to allow the benefits of the Act, in the form of FILOT Payments to be made under Article IV hereof, to be applicable to leased assets including, but not limited to a building and/or personal property to be installed in the buildings and leased to but not purchased by the Company from one or more Sponsors under any form of lease, then such property shall, at the election of the Company, be subject to FILOT Payments to the same extent as the Company’s assets covered by this Fee Agreement, subject, at all times, to the requirement of such applicable law. The parties hereto further agree that this Fee Agreement may be interpreted or modified as may be necessary or appropriate in order to give proper application of this Fee Agreement to such tangible property without such construction or modification constituting an amendment to this Fee Agreement, and thus not requiring any additional action by the County Council. The County Administrator, after consulting with the County Attorney, shall be and hereby is authorized to make such modifications, if any, as may be necessary or appropriate in connection therewith. In such event, and only in such event, such leased property shall constitute a part of the Project for all purposes of this Fee Agreement, including, without limitation, as to removal, replacement, and termination, and such Sponsor shall be deemed to be a party to this Fee Agreement, only to the extent allowed by law. Pursuant to the Act and subject to Section 4.2 hereof, the Company and the County hereby agree that the Company shall identify annually those assets which are eligible for FILOT payments under the Act and which the Company selects for such treatment by listing such assets in its annual PT-300S form (or comparable form) to be filed with the Department (as such may be amended from time to time) and that by listing such assets, such assets shall automatically become Economic Development Property and therefore be exempt from all ad valorem taxation during the Exemption Period. Anything contained in this Fee Agreement to the ...

COMMENCEMENT AND COMPLETION OF THE PROJECT. 9 SECTION 4.1. The Project 9 SECTION 4.2. Diligent Completion 9 Section 4.3. Modifications to Project 10

COMMENCEMENT AND COMPLETION OF THE PROJECT. Section 3.1 The Project. The Company has acquired, constructed and/or installed or made plans for the acquisition, lease, construction, expansion and/or installation of certain land, buildings, improvements, fixtures, machinery and equipment which comprise the Project. Pursuant to the Act, the Company and the County hereby agree that the property comprising the Project is intended to be Economic Development Property as defined under the Act.

COMMENCEMENT AND COMPLETION OF THE PROJECT. SECTION 3.01 THE PROJECT 8 SECTION 3.02 DILIGENT COMPLETION 8 SECTION 3.03 FILINGS AND REPORTS 8 SECTION 4.01 FILOT PAYMENTS 10 SECTION 4.02 FAILURE TO ACHIEVE CONTRACT MINIMUM INVESTMENT REQUIREMENTS 11 SECTION 4.03 REMOVAL OF PROJECT PROPERTY 12 SECTION 4.04 FILOT PAYMENTS ON REPLACEMENT PROPERTY 12 SECTION 4.05 REDUCTIONS IN PAYMENT OF TAXES UPON DIMINUTION IN VALUE; INVESTMENT MAINTENANCE REQUIREMENT 12 SECTION 5.01 CESSATION OF OPERATIONS 14 SECTION 5.02 RIGHTS TO INSPECT 14 SECTION 5.03 CONFIDENTIALITY 14 SECTION 5.04 LIMITATION OF COUNTY’S LIABILITY 15 SECTION 5.05 MERGERS, REORGANIZATIONS AND EQUITY TRANSFERS 15 SECTION 5.06 INDEMNIFICATION COVENANTS 15 SECTION 5.07 QUALIFICATION IN STATE 16 SECTION 5.08 NO LIABILITY OF COUNTY’S PERSONNEL 16 SECTION 5.09 ASSIGNMENT, LEASES OR TRANSFERS 16 SECTION 5.10 ADMINISTRATION EXPENSES 17 SECTION 5.11 PRIORITY LIEN STATUS 17 SECTION 5.12 INTEREST; PENALTIES 18 SECTION 5.13 SPONSOR AFFILIATES 18