Construction and Development Clause Samples

Construction and Development. The Borrower and its Subsidiaries will not engage in construction and development projects in which the total project costs of all such concurrent construction and development projects exceed, in the aggregate at any one time, ten percent (10%) of the book value of consolidated assets of the Borrower and its Subsidiaries (it being understood and agreed for purposes of this Section that a project shall be considered under construction and/or development until a certificate of occupancy therefor, or other similar certificate, shall have been issued by appropriate governmental authorities).

Construction and Development. The Developer covenants and agrees to extend, develop and construct the Commuter Trails and Subsidiary Trails to a standard consistent with the typical cross sections in the Master Infrastructure and Servicing Report Drawings.

Construction and Development. 1. The Company shall, subject to the terms hereof, construct the Building in accordance with the Approvals andor, plans and amendments thereto as approved by the relevant Authorities. 2. The Purchaser is aware that while the Company has obtained some of the Approvals, certain other Approvals (or amendments to current Approvals) may be received from time to time. Having regard to the above position, the Purchaser has entered into this Agreement without any objection or demur and agrees not to raise and waives his right to raise any objection, in that regard. 3. The Parties agree that while the Company may make amendments to the plans or layouts of the Building and the Project as required for the execution of the Project or as may be directed by the competent Authorities. This may include any change wherein the Company, if permitted by the relevant Authorities, transferring the construction permissible on the Larger Property to any other property or transferring to the Larger Property the construction permissible on any other property at any time prior to conveyance of the Larger Property to the Federation/Ultimate Organisation. The Purchaser gives his consent for such changes provided such changes shall not result in change in location of the Unit (with respect to its direction on a given floor), lowering of the Unit (with respect to its height above ground) or reduction in the Net Area more than 3 per cent of the Net Area. In case a change is proposed which adversely impact any of the aforesaid factors, separate written consent shall be obtained from the Purchaser. 4. The Purchaser is aware and agrees that the Company shall allow various balcony/verandah/ open terraces (including the one located at the top of the Building) to be used, partly or wholly, by one (or more) unit purchaser(s) in the Building and such unit purchaser(s) shall have exclusive right to use the said areas as per the terms of the arrangement between the Company and the said unit purchaser(s). The Purchaser agrees not to raise any objection or make any claims in that regard and the claims in that regard shall be deemed to have been waived. In terms of the above, the Company shall be at absolute liberty to allot/assign the said right to such person/s in the manner as the Company may deem fit and proper.

Construction and Development. 64 6.22 Limitation on Certain Agreements............................................ 64 ARTICLE VII ............................................................................ 64

Construction and Development. No Credit Party will, nor will it permit any member of the Consolidated Group to, at any time (a) commit to, commence or continue or (b) make an Investment in any Combined Party 56 62 that is committed to, commencing or continuing, construction of any improvements on any undeveloped or partially developed Property or Properties, if the sum, without duplication, of (i) with respect to clause (a) above, the aggregate cost to date of all such construction, together with the aggregate estimated cost to complete such construction, plus (ii) with respect to clause (b) above, the aggregate Investments to date, together with the required or estimated future Investments of members of the Consolidated Group in all such Combined Parties, would exceed 10% of the Aggregate Adjusted Current Value. Furthermore, if the limitation set forth in this Section 8.12 shall cause a Combined Party to cease construction of or development on a Borrowing Base Development Property, such Development Property shall be excluded from the Borrowing Base and the Borrower shall provide the Administrative Agent with a Borrowing Base Certificate reflecting such exclusion.

Construction and Development i. The Promoter shall, subject to the terms hereof, construct the Building in accordance with the Approvals and or, plans and amendments thereto as approved by the relevant Authorities. ii. The Allottee is aware that while the Promoter has obtained some of the Approvals, certain other Approvals (or amendments to current Approvals) may be received from time to time. Having regard to the above position, the Allottee has entered into this Agreement without any objection or demur and agrees not to raise and waives his right to raise any objection, in that regard. iii. The Allottee is aware and agrees that the Promoter shall allow various balcony / verandah / open terraces (including the one located at the top of the Building) to be used, partly or wholly, by one (or more) unit Allottee(s) in the Building and such unit Allottee(s) shall have exclusive right to use the said areas as per the terms of the agreement between the Promoter and the said unit Allottee(s). The Allottee agrees not to raise any objection or make any claims in that regard and the claims in that regard shall be deemed to have been waived. In terms of the above, the Promoter shall be at absolute liberty to allot / assign the said right to such person/s in the manner as the Promoter may deem fit and proper.

Construction and Development. The Resident shall comply with the building and construction laws and any restrictions imposed by the Nairobi City Council and the Runda Association on use and development of land. The Resident shall permit the Company to make all such inquiries with all relevant government authorities for purposes of ascertaining that the Resident has complied with the building laws and the Company will be entitled to take such steps where necessary to prevent the breach of any of the said building laws.

Construction and Development. HRT and its Subsidiaries will not engage in construction and development projects in which the total project costs of all such concurrent construction and development projects exceed, in the aggregate at any one time, ten percent (10%) of the book value of consolidated assets of the Borrower and its Subsidiaries (it being understood and agreed for purposes of this Section that a project shall be considered under construction and/or development until a certificate of occupancy therefor, or other similar certificate, shall have been issued by appropriate governmental authorities).

Construction and Development. The Developer covenants and agrees to extend, develop and construct the Wild Pacific Trail and Subsidiary Trails with a path of a minimum width of 2 metres (6.6 feet) to a standard consistent with neighbouring portions of the existing wild pacific trail.