Common use of Construction Date Clause in Contracts

Construction Date. CASELLA shall have ten (10) months from the date of execution of the Lease to satisfy (or waive, in ▇▇▇▇▇▇▇’▇ sole judgment), the following conditions precedent (the “Conditions Precedent”) to effectiveness of the Lease (The first day of the calendar month immediately following the month in which the Conditions Precedent are satisfied is referred to as the “Construction Date”): (1) CASELLA shall have received all necessary permits, approvals and authorizations, including all state and local construction and operating permits, approvals and authorizations, for the construction and operation of the Facility by the scheduled Construction Date. Casella shall undertake commercially reasonable efforts to obtain such permits, approval and authorizations in a timely manner. (2) CASELLA shall have secured necessary equity and/or debt financing, in the exercise of its reasonable judgment, for the construction and operation of the Facility in an economically viable fashion for a period of not less than the initial Term of this Lease (all mortgages and financings to be in accordance with Article 24 hereof).

Construction Date. CASELLA ▇▇▇▇▇▇▇ shall have ten (10) months from the date of execution of the Lease to satisfy (or waive, in ▇▇▇▇▇▇▇’▇ sole judgment), the following conditions precedent (the “Conditions Precedent”) to effectiveness of the Lease (The first day of the calendar month immediately following the month in which the Conditions Precedent are satisfied is referred to as the “Construction Date”): (1) CASELLA shall have received all necessary permits, approvals and authorizations, including all state and local construction and operating permits, approvals and authorizations, for the construction and operation of the Facility by the scheduled Construction Date. Casella ▇▇▇▇▇▇▇ shall undertake commercially reasonable efforts to obtain such permits, approval and authorizations in a timely manner. (2) CASELLA shall have secured necessary equity and/or debt financing, in the exercise of its reasonable judgment, for the construction and operation of the Facility in an economically viable fashion for a period of not less than the initial Term of this Lease (all mortgages and financings to be in accordance with Article 24 hereof).