Conditions to Commencement of Construction. In no event shall Lessee commence any construction on the Property until the following conditions have been satisfied or waived by Lessor, in addition to other conditions and requirements imposed by this Lease: a. Lessee has obtained building permits and all other governmental approvals necessary for the construction of the improvements. b. Lessee has sufficient funds, or has obtained adequate financing, necessary for construction of any such improvements.
Appears in 1 contract
Sources: Ground Lease
Conditions to Commencement of Construction. In no event shall Lessee commence any construction on the Property until the following conditions have been satisfied or waived by Lessor, in addition to other conditions and requirements imposed by this Lease:
a. (i) Lessee has obtained building permits and all other governmental approvals necessary for the construction of the improvements.
b. (ii) Lessee has sufficient funds, or has obtained adequate financing, necessary for construction of any such improvements.
Appears in 1 contract
Sources: Ground Lease Option Agreement