Operation of the Projects Sample Clauses

The 'Operation of the Projects' clause defines the rules and responsibilities for managing and running the projects covered by the agreement. It typically outlines who is responsible for day-to-day operations, maintenance, and compliance with applicable laws or standards. For example, it may specify which party must ensure the project meets performance targets or how operational decisions are made. This clause ensures that both parties have a clear understanding of their operational roles, reducing the risk of disputes and promoting efficient project management.
Operation of the Projects. Other than Projects which are owned or leased by any Immaterial Group of Companies, the Projects which are owned or leased by the Subsidiaries of the Borrower and, to the best knowledge of the Obligors, the Projects which are owned or leased by the Non-Controlled Project Entities are in all material respects in good working order (ordinary wear and tear excepted) and repair and are adequate in all material respects for the operation of such Projects as currently being and expected to be operated.
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Operation of the Projects. 5.10.1 Cause the Project Companies to keep each Project in good operating condition consistent with the standard of care set forth in the Major Project Documents and all applicable Permits, and make all repairs necessary to keep each such Project in such condition.
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Operation of the Projects. Until the earlier of the Closing or the termination of this Agreement, Contributors undertake and agree as follows: (a) Contributors shall perform all material obligations relating to the Projects, including to pay (or cause to be paid or credit at Closing) prior to delinquency, all mortgages, liens, contract amounts, real property and personal property taxes, assessments and other levies which become due and payable with respect to the Projects, other than those taxes assessments and other levies that a Contributor is contesting in good faith and for which Contributors shall remain liable. (b) Subject to Sections 4.4(c) and 4.4(d), without TRT’s prior written approval, which may be withheld in TRT’s sole and absolute discretion, Contributors shall not directly or indirectly (i) sell, contribute, assign or create any right, title or interest whatsoever in or to the Project, (ii) cause or permit any mortgage, deed of trust, lien, assessment, obligation, interest, encroachment or liability whatsoever to be placed of record against the Project (other than the Permitted Exceptions and easements arising in the ordinary course of business that do not have a material affect on the Projects), or (iii) enter into any agreement to do any of the foregoing. (c) Without TRT’s prior approval, which may be withheld in TRT’s sole and absolute discretion, Contributors shall not enter into any new (or extend, amend, renew or replace any existing) agreement, service contract, employment contract, permit or obligation affecting the Projects that would be binding upon Joint Venture upon its acquisition of the Projects, or file for, pursue, accept or obtain any zoning, land use permit or other development approval or entitlement, or consent to the inclusion of the Projects into any special district; provided, however, (i) Contributors may enter into service or similar contracts without TRT’s approval if such contract is entered into in the ordinary course of Contributors’ business and is terminable without penalty or premium on not more than 30 days notice from the owner of the Project and is disclosed promptly in writing to TRT; and (ii) may enter new Tenant Leases pursuant to Section 4.4(d). (d) Contributors shall not enter into any new lease of space at a Project (each, a “New Lease”) or extend, amend, renew or replace any lease of space at a Project (each, a “Lease Renewal”) without TRT’s prior written consent (which may be withheld in TRT’s sole and absolute discretion), e...
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Operation of the Projects. Prior to the Closing, unless Summit consents otherwise, which consent will not be unreasonably withheld, conditioned or delayed: 9.6.1 Investor shall use commercially reasonable efforts to (i) cause Existing Manager to continue to operate each Project in the ordinary course pursuant to the Existing Management Agreement and consistent with the practices and procedures in effect as of the Effective Date, except to the extent that this Agreement expressly provides otherwise, and (ii) not, without prior approval of Summit (which approval shall not be unreasonably withheld, conditioned or delayed), voluntarily encumber or create any new Encumbrances on any portion of any Project that are not Permitted Exceptions unless the same will be removed at or before the Closing or any such Encumbrance will have a Material Adverse Effect on any Project. 9.6.2 Investor shall (and shall cause the Project Owners to) continue to maintain the insurance currently carried by Investor or the Project Owners with respect to any Project. 9.6.3 From and after two (2) Business Days prior to the expiration of the Due Diligence Period, Investor shall not enter into, amend or otherwise modify any Contract or Lease unless (i) any such new Contract or Lease or such amendment or modification will not be binding after the Closing, (ii) any such new, amended or modified Contract or Lease is an extension or renewal of, or replacement for, a Contract or Lease existing as of the Effective Date on substantially similar terms, allowing for a reasonable adjustment in the price or rent charged thereunder to reflect market conditions in Investor’s reasonable judgment, and which new, amended or modified Contract or Lease may be with a new contracting third party or parties in Investor’s or reasonable judgment, (iii) any such new, amended or modified Contract or Lease is terminable by Summit at no cost to Summit after the Closing on no more than thirty (30) days’ notice, or (iv) the same is a purchase order for goods or services, or a reservation for rooms or other facilities, or a written agreement, entered into in the ordinary course of business of each Project consistent with the practices and procedures in effect as of the Contract Date. Nothing set forth in this Section 9.6.3 shall restrict the right of Existing Manager under any Existing Management Agreement to enter into, amend or otherwise modify any Contracts or Leases, except that Investor shall not consent or approve of the same (to the exte...
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Operation of the Projects. The Parties hereby covenant and agree that from the Agreement Date until either the Closing with respect to a particular Property occurs or this Agreement is terminated, that the Properties will be maintained and operated as set forth below:
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Related to Operation of the Projects

  • Operation of the Property Between June 1, 1998 and the Closing Date, Seller shall (a) lease, operate, manage and enter into contracts with respect to the Property, in the same manner done by Seller prior to the date hereof (provided, however, that without the prior consent of Purchaser, which as to (i) and (ii) shall not be unreasonably delayed, conditioned or withheld, (i) Seller shall not enter into any Service Contract that cannot be terminated with thirty (30) days notice or materially modify any existing Service Contracts to be assumed by Purchaser at Closing, and (ii) after June 1, 1998, Seller shall not materially modify or terminate any existing Tenant Lease or grant any material consents under any existing Tenant Lease (except as otherwise required pursuant to the terms and conditions of such Tenant Lease), or enter into any new Tenant Lease, and (iii) Seller shall not apply any then unapplied Deposits (as reflected on the Rent Roll delivered by Seller to Purchaser pursuant to Schedule 5.3(vii) hereof) under Tenant Leases); and (b) advise Purchaser of the commencement of any litigation, condemnation or other judicial or administrative proceedings affecting the Property of which Seller has current actual knowledge. Notwithstanding anything to the contrary set forth in this Contract, Purchaser acknowledges that after June 1, 1998 and prior to Closing, Seller will enter into contracts for the completion of Tenant improvements under Tenant Leases entered into after June 1, 1998 pursuant to the terms of Section 12.1 hereof (collectively, the "Tenant Finish Contracts"). Purchaser and Seller agree that at Closing, Purchaser shall assume the obligations of Seller under all such Tenant Finish Contracts including, without limitation, the obligations to pay any costs and expenses charged with respect to construction of improvements in the space subject to such Tenant Leases. At Closing, Purchaser shall execute and deliver to the Seller an Assignment, Assumption and Indemnity Agreement in the form attached hereto as Exhibit H and made a part hereof for all purposes.

  • Construction of the Project The Allottee has seen the proposed layout plan, specifications, amenities and facilities of the Apartment/ Plot and accepted the floor plan, payment plan and the specification, amenities and facilities annexed along with this Agreement which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop the Project in accordance with the said layout plans, floor plans and specifications, amenities and facilities. Subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent authorities and shall also strictly abide by the bye-laws, FAR, and density norms and provisions prescribed by the relevant building bye-laws and shall not have an option to make any variation/ alteration/ modification in such plans, other than in the manner provided under the Act, and breach of this term by the Promoter shall constitute a material breach of this Agreement.

  • Completion of the Project The Participating County acknowledges it is obligated to undertake and complete the design and construction of the Project in compliance with all of the applicable terms and conditions of the Project Documents and the Participating County agrees to use its best efforts to cause the completion of design and construction of the Project in compliance with the applicable terms and conditions of such documents. The Participating County agrees to complete the Project in accordance with this Agreement and consistent with the scope, cost and schedule established by the Board and attached hereto in Exhibit A, as such scope, cost and schedule may be modified with the approval of Finance and the recognition of the Board.

  • Execution of the Project (a) DAWASA declares its commitment to the objectives of the Project as set forth in Schedule 2 to the Development Credit Agreement, and, to this end, shall: (i) carry out the Project with due diligence and efficiency and in conformity with appropriate administrative, financial, engineering, environmental, water, sewerage and resettlement practices, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project; (ii) duly and punctually perform in accordance with the provisions of the Development Contract, Lease Contract and the DAWASA Subloan Agreement all its obligations therein set forth and shall exercise its rights thereunder in such manner as to protect the interests of the Borrower and the Association and accomplish the purposes of the Credit; and (iii) cause the Operator to carry out its obligations under the Project, Lease Contract and DAWASA Subloan Agreement with due diligence and efficiency and in conformity with appropriate administrative, financial, engineering, environmental, water, sewerage and resettlement practices. (b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Association and DAWASA shall otherwise agree, DAWASA shall carry out the Project in accordance with the Implementation Program set forth in Schedule 2 to this Agreement. Section 2.02. Except as the Association shall otherwise agree, procurement of the goods, works and consultants’ services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 1 to this Agreement. (a) DAWASA shall carry out or cause to be carried out, the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to insurance, use of goods and services, plans and schedules, records and reports, maintenance and land acquisition, respectively) in respect of this Agreement. (b) For the purposes of Section 9.06 of the General Conditions and without limitation thereto, DAWASA shall, in conjunction with the Borrower: (i) prepare, on the basis of guidelines acceptable to the Association and furnish to the Association not later than six (6) months after the Closing Date or such later date as may be agreed for this purpose among the Association, the Borrower and DAWASA, a plan for the future operation of the Project designed to ensure its sustainability; and (ii) afford the Association a reasonable opportunity to exchange views with DAWASA and the Borrower on the said plan. Section 2.04. Without limitation to its obligations under Section 2.01 of this Agreement, DAWASA shall, for the purposes of making available the counterpart contribution to the financing of the Project: (a) replenish the Project Account up to the initial amount of seven hundred fifty million Tanzanian Shillings (Tshs 750,000,000) at the end of each Project Quarter until the completion of the Project, or whenever its balance shall be less than two hundred fifty million Tanzanian Shillings (Tshs 250,000,000); and (b) ensure that amounts deposited into the Project Account shall be used exclusively to make payments to meet expenditures made or to be made in respect of the reasonable cost of goods, works and services for the Project in addition to those financed from the proceeds of the Credit.

  • Construction of the Project Highway (i) The Contractor shall construct the Project Highway as specified in Schedule- B and Schedule-C, and in conformity with the Specifications and Standards set forth in Schedule-D. The Contractor shall be responsible for the correct positioning of all parts of the Works, and shall rectify any error in the positions, levels, dimensions or alignment of the Works. The [650th (six hundred and fiftieth) day] from the Appointed Date shall be the scheduled completion date (the “Scheduled Completion Date”) and the Contractor agrees and undertakes that the construction shall be completed on or before the Scheduled Completion Date, including any extension thereof. (ii) The Contractor shall construct the Project Highway in accordance with the Project Completion Schedule set forth in Schedule-J. In the event that the Contractor fails to achieve any Project Milestone or the Scheduled Completion Date within a period of 30 (thirty) days from the date set forth in Schedule-J, unless such failure has occurred due to Force Majeure or for reasons solely attributable to the Authority, it shall pay Damages to the Authority of a sum calculated at the rate of 0.05% (zero point zero five percent) of the Contract Price for delay of each day reckoned from the date specified in Schedule –J and until such Project Milestone is achieved or the Project Highway is completed; provided that if the period for any or all Project Milestones or the Scheduled Completion Date is extended in accordance with the provisions of this Agreement, the dates set forth in Schedule-J shall be deemed to be modified accordingly and the provisions of this Agreement shall apply as if Schedule-J has been amended as above; provided further that in the event the Project Highway is completed within or before the Scheduled Completion Date including any Time Extension, applicable for that work or section, the Damages paid under this Clause 10.3 (ii) shall be refunded by the Authority to the Contractor, but without any interest thereon. The Parties agree that for determining achievement or delays in completion of the Project Milestones or the Project on the due date, the works affected due to delay in providing the site for which time extension has been granted beyond the Scheduled Completion Date will be excluded. For example on the due date to achieve the Project Milestone-I (i.e., Stage Payments of 10% (ten percent) of Contract Price on 180th (one hundred and eighty) day from the Appointed Date), if 5% (five percent) of the project length corresponding to the Project Milestone-I is not handed over or lately handed over resulting in the extension of completion of this 5% (five percent) length beyond Scheduled Completion Date, Stage Payment of 10% X 0.95 = 9.5% only is to be achieved by 180th (one hundred and eighty) day. For the avoidance of doubt, it is agreed that recovery of Damages under this Clause 10.3 (ii) shall be without prejudice to the rights of the Authority under this Agreement including the right of Termination thereof. The Parties further agree that Time Extension hereunder shall only be reckoned for and in respect of the affected Works as specified in Clause 10.5 (ii). (iii) The Authority shall notify the Contractor of its decision to impose Damages in pursuance with the provisions of this Clause 10.3. Provided that no deduction on account of Damages shall be effected by the Authority without notifying the Contractor of its decision to impose the Damages, and taking into consideration the representation, if any, made by the Contractor within 20 (twenty) days of such notice. The Parties expressly agree that the total amount of Damages under Clause 10.3 (ii) shall not exceed 10% (ten percent) of the Contract Price. If the damages exceed 10% (ten percent) of the Contract Price, the Contractor shall be deemed to be in default of this agreement having no cure and the Authority shall be entitled to terminate this Agreement by issuing a Termination Notice in accordance with the provisions of Clause 23.1 (ii). (iv) In the event that the Contractor fails to achieve the Project Completion within a period of 90 (ninety) days from the Schedule Completion Date set forth in Schedule-J, unless such failure has occurred due to Force Majeure or for reasons solely attributable to the Authority, the contractor shall be deemed to be ineligible for bidding any future projects of the Authority, both as the sole party or as one of the parties of Joint Venture/ Consortium during the period from Scheduled Completion Date to issuance of Completion Certificate. This restriction is applicable if the contract value of the delayed project is not less than Rs. 300 Crore.