Obligation to Build Sample Clauses

Obligation to Build. Relationship to the PJM Control Area Open Access Transmission PJM Tariff............... 5 SCHEDULE 7 - UNDERFREQUENCY RELAY OBLICATIONS AND CHARGES........................................... 1 1.

Obligation to Build. 9.1 If the PROPERTY is a vacant erf, the PURCHASER undertakes that the erection of a house on the PROPERTY will commence within 2 (two) years of the date of registration of transfer of the PROPERTY in the name of the person who purchased the PROPERTY in the first instance from the DEVELOPER or such extended date recorded in Clause 1.16, and will be completed within 12 (twelve) months from such commencement. The house shall be regarded as being completed upon the issue of an occupational certificate by the Local Authority and the ASSOCIATION or its nominee whereafter the PURCHASER shall be entitled to take occupation of the improvements on the PROPERTY. 9.2 Should the PURCHASER fail or neglect to erect a house within the period stipulated in Clause 9.1, the DEVELOPER or its nominee shall have the right at any time after the expiry of the prescribed period, to repurchase the PROPERTY from the PURCHASER on the following terms and conditions: 9.2.1 The DEVELOPER shall exercise its right by written notice to the PURCHASER’S chosen domicilium in terms of Clause 21 hereof; 9.2.2 Should there be no improvements on the PROPERTY, the purchase price shall be an amount equal to the PURCHASE PRICE at which the PURCHASER acquired the PROPERTY; 9.2.3 Should the PROPERTY have been improved, the purchase price shall be an amount equal to the PURCHASE PRICE at which the PURCHASER acquired the PROPERTY plus the cost to the PURCHASER of the improvements or the value of the improvements as they stand, whichever is the lower, less the costs of transferring the PROPERTY to the DEVELOPER. The cost or the value of the improvements shall be determined by a quantity surveyor appointed by the DEVELOPER, whose decision shall be final and binding on the PARTIES and who, in arriving at such decision, shall have acted as an expert and not an arbitrator. 9.3 Should the DEVELOPER exercise its rights in terms of Clause 9.2: 9.3.1 The full purchase price will be paid to the PURCHASER on registration of transfer of the PROPERTY to the DEVELOPER; 9.3.2 The profit realised by the DEVELOPER on the resale of the PROPERTY after deduction of its expenses, shall be paid into the banking account of the ASSOCIATION for the benefit of the OWNERS; 9.3.3 Transfer of the PROPERTY shall be registered by the DEVELOPER’S Attorneys as soon as possible after the DEVELOPER has exercised its rights in terms of Clause 9.2; 9.3.4 All risk, benefit, and occupation of the PROPERTY will, in this case, be given to the...

Obligation to Build. 5 4.5 Cable Measurement...............................................................................5 4.6 Other Cables/Facilities.........................................................................5 4.7 Warranty........................................................................................5

Obligation to Build. Both parties agree to use their best efforts to install the Cable on the Route according to a schedule to be subsequently agreed upon by the parties but in any case by September 27, 1999. The parties' obligations under this Section 4.4 shall be subject to manufacturing or supplier delays, governmental regulatory delays and delays caused by NU as a supplier of services or layout equipment under the terms of this Agreement or as a result of NU's obligation to maintain reliable electric service.

Obligation to Build. Both parties agree to use their best efforts to install the Cable on the Route according to a schedule to be subsequently agreed upon by the parties but in any case by September 27, 1999. The parties' obligations under this Section 4.4 shall be subject to manufacturing or supplier delays, governmental regulatory delays and delays caused by the Grantor as a supplier of services or equipment under the terms of this Agreement or as a result of the Grantor's obligation to maintain reliable electric service. Subsequent to the date of execution of this Amended and Restated Agreement, the rights and obligations of the parties set forth in this Section 4.4 shall be governed by the Phase Two Agreement.

Obligation to Build. (a) Subject to the requirements of applicable law, government regulations and approvals, including, without limitation, requirements to obtain any necessary state or local siting, construction and operating permits, to the availability of required financing, to the ability to acquire necessary right- of-way, and to the right to recover, pursuant to appropriate financial arrangements and tariffs or contracts, all reasonably incurred costs, plus a reasonable return on investment, Regional Transmission Owners designated as the appropriate entities to construct and own or finance enhancements or expansions specified in the Regional Transmission Expansion Plan shall construct and own or finance such facilities or enter into appropriate contracts to fulfill such obligations. (b) Nothing herein shall prohibit any Regional Transmission Owner from seeking to recover the cost of enhancements or expansions on an incremental cost basis or from seeking approval of such rate treatment from any regulatory agency with jurisdiction over such rates.

Obligation to Build. Subject to the provisions of this Restated Agreement, to the requirements of applicable law, government regulations or approvals, to the availability of required financing, and to the right to recover, pursuant to appropriate financial and credit arrangements and tariffs or contracts, all reasonably incurred costs plus a reasonable return on investment, Members designated as the appropriate entities to construct and own transmission facilities specified in the Plan shall construct and own such facilities or enter into appropriate contracts to fulfill such obligations. A Member shall not be designated as the appropriate Member, or one of the appropriate Members, to construct and own transmission facilities unless the facilities are contiguous with or an upgrade of the Member's existing transmission facilities, or the Member has agreed to such designation. A Member or Members designated as the appropriate Member or Members to construct and own or upgrade transmission facilities shall be entitled to recover all reasonably incurred costs plus a reasonable return on investment in connection with construction, ownership, or upgrading of such facilities, under requirements established by the Regional Transmission Committee and consistent with FERC standards or Canadian Law as applicable. In the absence of agreement among the affected parties, and with due regard for applicable comparability requirements, the Regional Transmission Committee may require the Transmission Requester, the constructing and owning or upgrading Member or Members, and any Member owning or having the right to control the use of transmission facilities contiguous to the facilities being constructed or upgraded, to pay, either directly or through an appropriate transmission rate, an appropriate share of the costs of such facilities. Subject to applicable comparability requirements, the Regional Transmission Committee shall apportion such costs primarily to those entities for whose needs the facilities are being constructed or upgraded, but shall also recognize the incidental benefits other entities will receive from the new facilities, taking into account whether such other entities would expend funds to achieve such incidental benefits. Any Member that is required to pay all or substantially all of the costs of constructing a new transmission facility shall have the right to own or receive Rights Equivalent to Ownership in the facility. Any Member contributing directly to the incremental cos...

Obligation to Build. PIT and TSC hereby agree to construct the Timeshare Project in accordance with the plans and specifications attached hereto as Exhibit A and in accordance with all applicable building codes and regulations within a period of 3 years from the date of execution of this Agreement. PIT also agrees promptly to obtain all licenses, permits and concessions required to operate the Timeshare Project in accordance with all applicable local, state and federal laws and regulations.

Obligation to Build. Each of the parties shall use its best efforts to install the Cable within 24 months of the date of the execution of this Agreement along the [**] Route.