Common use of Diligent Completion Clause in Contracts

Diligent Completion. Subject to the terms and conditions of this Agreement (including any Unavoidable Delay as defined in Section 14.8), Developer covenants to complete the development of the Project in substantial conformance with the Drawings and in accordance with the Schedule of Performance attached hereto as Exhibit F (the “Schedule of Performance”). Subject to delays permitted in accordance with the terms of this Agreement, Developer shall complete development of the Project no later than the date for completion of construction set forth in the Schedule of Performance as may be amended; provided that the date for completion of construction shall be extended during the cure period provided to any Mortgagee or Limited Partner. Developer agrees to keep PHB informed of its progress with respect to development of the Project during construction, with periodic reports to be issued no less frequently than once a month until PHB issues the Certificate of Completion for the Project. Project development includes: 7.3.1. Entering into all necessary architectural and construction contracts; 7.3.2. Securing all necessary public entitlements and building permits; 7.3.3. Securing all financing necessary to complete the Project, consistent with the Project Budget.