Failure to Construct Clause Samples

Failure to Construct. If Developer provides a Commencement Notice as required by Section 2.1 but does not timely complete construction of the Project as herein provided, then Developer shall pay to the City all sums incurred by the City with regard to the preparation and drafting of this Agreement and all other sums not recoverable from Tax Increments (as defined below). All repayments shall be completed within thirty (30) calendar days after Developer’s non- performance or Default under this Agreement.

Failure to Construct. Without limiting any other right or remedy of Landlord under the Lease, if for any reason or under any contingency the General Contractor or any Major Subcontractor shall default under a Construction Contract, fail to commence, or abandon construction of, the 2002 Project, or fail to complete the 2002 Project within the maximum construction time in accordance with the terms of the Construction Contracts, then in any such event, without the need of any demand by Landlord, Tenant shall assume all responsibility for and control over the construction, performance and completion of the 2002 Project and shall cause the 2002 Project to be fully completed in accordance with this Work Letter on or before the Outside Completion Date (subject only to the performance by Landlord of its obligations under this Section 3 and Unavoidable Delays), other than Punch List Items. Without limiting any other right or remedy of Landlord under the Lease, if Tenant fails to cause the 2002 Project to be completed in accordance with the 2002 Project Plans prior to the Outside Completion Date other than the Punch List Items, Landlord, at Landlord's option, shall have the right to complete the 2002 Project in accordance with the 2002 Project Plans and expend such sums as Landlord reasonably deems proper in order so to complete the 2002 Project. The amount of any and all expenditures made by Landlord pursuant to this clause (b) which, when combined with all 2002 Project Costs previously funded by Landlord, are in excess of Landlord's Maximum Cost, shall be immediately due and payable by Tenant to Landlord as an Additional Charge, together with interest thereon from the date of such expenditure to the date paid by Tenant at the Overdue Rate (but in no event greater than the maximum rate of interest then permitted by law). Said interest shall accrue on a daily basis. Upon any assumption by Landlord of the obligation to complete the 2002 Project as provided herein, Tenant shall forthwith surrender and deliver to Landlord, or Landlord's designee, any funds which have been received from Landlord but have not been disbursed by Tenant, and all records, plans, specifications, permits and other governmental approvals, purchase agreements, contracts, receipts for deposits, unpaid bills and all other records, papers and documents in the possession of Tenant relating to the 2002 Project.

Failure to Construct. Failure of Borrower to obtain permits, commence, and prosecute to completion, construction of the Repairs within the times set forth in Article 3 above;

Failure to Construct. Failure of Borrower to obtain permits, commence, and prosecute to completion, construction of the Development within the times set forth in the Schedule of Performance, subject to extensions for reasons of force majeure under Section 7.15.

Failure to Construct. If ▇▇▇▇▇▇▇▇ fails to obtain permits, or to commence and prosecute construction of the Development to completion, within the times set forth in Article 3 above.

Failure to Construct. The failure of Licensee to commence construction and installation of a Service Area’s Improvements within 90 days after the applicable License’s Grant Date shall constitute a Default. In addition, Licensee’s failure to complete a Service Area’s Improvements within 120 days after the applicable Estimated Completion Date (or within six months after the License’s Grant Date if the Construction Memorandum fails to indicate an Estimated Completion Date) shall constitute a Default (it being understood that a Service Area’s Improvements shall be deemed “complete” when Licensee receives an Approval Notice, which shall not be unreasonably withheld or delayed, or fails to receive such a notice within five business days after receiving a Completion Notice and does not in the interim receive a Disapproval Notice, with respect to such Service Area). Default under this section 10.6 shall be deemed a non-curable Default for which Licensor shall have the right to terminate the License granted with respect to the applicable Facility immediately upon written notice of Default to Licensee.

Failure to Construct. If Developer fails to obtain permits, or to commence and prosecute construction of the Improvements to completion, within the times set forth in Article 4 above.

Failure to Construct. If Developer provides a Commencement Notice as required by Section 3.1 but does not timely complete construction of the Project as herein provided, then Developer shall pay to the City all sums incurred by the City with regard to the preparation and drafting of this Agreement and all other sums not recoverable from Tax Increments (as defined below), and be obligated to reconvey any and all portions of the Property owned by Developer (or by any entity affiliated with Developer in any way or with a common owner/owners or member/members as Developer or any entity affiliated with Developer in any way) at such time as follows: (a) by Special Warranty Deed; (b) insured by a policy of title insurance, or a binding commitment for such a title policy, with a gap endorsement, all of which are at the expense of Developer, that will be in the same insurance amounts obtained by Developer in the policy provided under Section 2.2(c) above, effective as of the reconveyance date and insure the quality of title of the Property free and clear of all liens, security interests, mortgages and encumbrances, except for Permitted Encumbrances; (c) subject to the proration of taxes, utilities and any and all other assessments applicable to the Property being re-conveyed to the City; and (d) at the time of the closing of the reconveyance of the Property by Developer to the City, the City shall pay to Developer a purchase price for the Property in the amount of one dollar ($1.00). All repayments and reconveyances shall be completed within thirty (30) calendar days after Developer’s non-performance or Default under this Agreement.

Failure to Construct. In the event Redeveloper shall fail to implement or construct the Project pursuant to the Project Schedule, subject to the occurrence of an Event of Force Majeure and the provisions hereto, or shall abandon or substantially suspend construction of the Project for a continuous period in excess of one hundred twenty (120) days, unless such suspension arises out of an Event of Force Majeure, and any such Event of Default, violation, abandonment, or suspension shall not be cured within thirty (30) days after written demand by the Borough to do so, or such longer period if incapable of cure within such thirty (30) day period and Borough agrees to extend such time to cure, provided that Redeveloper has commenced and is diligently prosecuting such cure.