Possession and Use of the Project Clause Samples

The 'Possession and Use of the Project' clause defines when and how the client or owner is permitted to take control of and utilize the completed project or portions of it. Typically, this clause outlines the conditions under which possession is transferred from the contractor to the owner, such as upon substantial completion or after passing certain inspections. It may also specify any restrictions on use before final acceptance, like prohibiting occupancy until safety requirements are met. The core function of this clause is to clarify the rights and responsibilities regarding access and use, thereby preventing disputes over when the owner can begin using the project and who is liable for the property at different stages.
Possession and Use of the Project. (a) The City covenants and agrees that as long as neither the City nor the Trustee has exercised any of the remedies set forth in Section 12.2 following the occurrence and continuance of an Event of Default, as defined in Section 12.1, the Developer shall have sole and exclusive possession of the Project (subject to Permitted Encumbrances and the City’s and the Trustee’s right of access pursuant to Section 10.3) and shall and may peaceably and quietly have, hold and enjoy the Project during the Lease Term. The City covenants and agrees that it will not take any action, other than expressly pursuant to Article XII, the Indenture, the Base Lease and the Development and Performance Agreement to prevent the Developer from having quiet and peaceable possession and enjoyment of the Project during the Lease Term and will, at the request and expense of the Developer, cooperate with the Developer to defend the Developer’s quiet and peaceable possession and enjoyment of the Project. (b) Subject to the provisions of this Section, the Developer shall have the exclusive right to use the Project for any lawful purpose contemplated by the Act and consistent with the terms of the Development and Performance Agreement. The Developer shall comply in all material respects with all statutes, laws, ordinances, orders, judgments, decrees, regulations, directions and requirements of all federal, state, local and other governments or governmental authorities, now or hereafter applicable to the Project, as to the manner of use or the condition of the Project, or that otherwise may be applicable by virtue of the City’s interest in the Project Site. The Developer shall also comply with the mandatory requirements, rules and regulations of all insurers under the policies carried under the provisions of Article VII. The Developer shall pay all costs, expenses, claims, fines, penalties and damages that may in any manner arise out of, or be imposed as a result of, the failure of the Developer to comply with the provisions of this Section. Notwithstanding any provision contained in this Section, however, the Developer may, at its own cost and expense, contest or review by legal or other appropriate procedures the validity or legality of any such governmental statute, law, ordinance, order, judgment, decree, regulation, direction or requirement, or any such requirement, rule or regulation of an insurer, and during such contest or review the Developer may refrain from complying therewith.
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Possession and Use of the Project. (a) The Issuer covenants and agrees that as long as neither the Issuer nor the Trustee has exercised any of the remedies set forth in Section 12.2(c) following the occurrence and continuance of an Event of Default, the Tenant shall have sole and exclusive possession of the Project (subject to Permitted Encumbrances and the Issuer’s and the Trustee’s right of access pursuant to Section 10.3 hereof) and shall and may peaceably and quietly have, hold and enjoy the Project during the Lease Term. The Issuer covenants and agrees that it will not take any action, other than expressly pursuant to Article XII of this Lease, to prevent the Tenant from having quiet and peaceable possession and enjoyment of the Project during the Lease Term and will, at the request and expense of the Tenant, cooperate with the Tenant in order that the Tenant may have quiet and peaceable possession and enjoyment of the Project and will defend the Tenant’s enjoyment and possession thereof against all parties. (b) Subject to the provisions of this Section, the Tenant shall have the right to use the Project for any lawful purpose allowed by law and contemplated by the Act, including without limitation by entering into the Sublease and permitting Subtenant to enter into and ▇▇▇▇▇ ▇▇▇ rights in the Project under the Amended and Restated Lease. (c) Subject to Section 12.4, the Tenant shall cause the Tenant’s Delegee to comply with, and during the term of the Sublease Subtenant agrees to comply with, all statutes, laws, ordinances, orders, judgments, decrees, regulations, directions and requirements of all federal, state, local and other governments or governmental authorities, now or hereafter applicable to the Project or to any adjoining public ways, as to the manner of use or the condition of the Project or of adjoining public ways. Subject to Section 12.4, the Tenant shall also cause the Tenant’s Delegee to comply with, and during the term of the Sublease Subtenant agrees to comply with, the mandatory requirements, rules and regulations of all insurers under the policies carried under the provisions of Article VII hereof. (d) Subject to Section 12.4 hereof, the Tenant shall pay, and during the term of the Sublease Subtenant agrees to pay, all costs, expenses, claims, fines, penalties and damages that may in any manner arise out of, or be imposed as a result of, the failure of the Tenant to comply with the provisions of this Section. (e) Notwithstanding any provision contained in this Sect...
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Possession and Use of the Project. (a) The City covenants and agrees that as long as neither the City nor the Trustee has exercised any of the remedies set forth in Section 12.2 following the occurrence and continuance of an Event of Default, as defined in Section 12.1, the Developer shall have sole and exclusive possession of the Project (subject to Permitted Encumbrances and the City’s and the Trustee’s right of access pursuant to
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Possession and Use of the Project. The Issuer acknowledges that as between the Issuer and the Borrower the Borrower shall be the sole legal owner of the Project, and shall be entitled to sole and exclusive possession of the Project.
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Possession and Use of the Project. The City covenants and agrees that as long as the Corporation shall not be in default hereunder, the Corporation shall have sole and exclusive possession of the Project (subject to the City’s and the Lender’s right of access pursuant to Section [9.2] hereof) and shall and may peaceably and quietly have, hold and enjoy the Project during the Lease Term. The City covenants and agrees that it will not take any action, other than pursuant to Article [XII] hereof, to prevent the Corporation from having quiet and peaceable possession and enjoyment of the Project during the Lease Term and will, at the request and expense of the Corporation, cooperate with the Corporation in order that the Corporation may have quiet and peaceable possession and enjoyment of the Project and will defend the Corporation enjoyment and possession thereof against all parties.
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Possession and Use of the Project. The Project shall be used in a manner consistent with the Agency Agreement and, after the Completion Date, as a petroleum coke gasifier, an ammonia synthesis loop and a urea ammonium nitrate plant. Lessee shall pay, or cause to be paid, all charges and costs required in connection with the use of the Project. Lessee shall not commit or permit any waste of the Project or any part thereof.
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Related to Possession and Use of the Project

  • Possession and Use Contractor may possess, use and reproduce Confidential Information solely for the Purpose. Contractor shall not use the Confidential Information for any other purpose.

  • 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.

  • Execution of the Project (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agreement and, to this end, shall, through the FMWR, carry out Parts C.1, C.2 only insofar as dams covered thereunder fall within the ownership of the Borrower, and D.1 of the Project, and cause the Participating States, through their respective SWAs, to carry out Parts A, B, C.2, and D.2 of the Project, all with due diligence and efficiency and in conformity with appropriate administrative, financial, engineering, water supply, and environmental practices, and shall provide or cause the Participating States to provide, as the case may be, promptly as needed, the funds, facilities, services and other resources required for the Project. (b) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Association shall otherwise agree, the Borrower shall, through the FMWR, carry out, and cause the Participating States, through their SWAs, to carry out, the Project in accordance with the Implementation Program set forth in Schedule 4 to this Agreement. (c) The Borrower shall make the proceeds of the Credit available to the Participating States under a Subsidiary Credit Agreement to be entered into between the Borrower and each Participating State, under terms and conditions which shall have been approved by the Association. (d) The Borrower shall exercise its rights under the Subsidiary Credit Agreement in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit, and, except as the Association shall otherwise agree, the Borrower shall not assign, amend, abrogate or waive the Subsidiary Credit Agreement or any provision thereof. Section 3.02. Without limitation upon the provisions of paragraph (a) of Section 3.01 of this Agreement, and except as the Borrower and the Association shall otherwise agree, the Borrower shall: (a) open and thereafter maintain, until completion of the Project, in NGN, in a commercial bank acceptable to the Association, an FPA, under terms and conditions acceptable to the Association, including appropriate protection against set-off, seizure or attachment; (b) (i) deposit into the FPA an initial amount in accordance with the provisions of Article 6.01 (a); and (ii) thereafter, on a quarterly basis, replenish the FPA by an amount equivalent to $50,000 to finance the Borrower’s contribution for expenditures under the Project other than those financed from the proceeds of the Credit; and (c) ensure that funds deposited into the FPA in accordance with the provisions of paragraph (b) of this Section shall be used exclusively to finance expenditures under the Project other than those financed from the proceeds of the Credit. Section 3.03. The Borrower shall, until completion of the Project, cause each Participating State to: (a) open and thereafter maintain, until completion of the Project, in NGN, in a commercial bank acceptable to the Association, an SPA (SPA A, B, and C, respectively, for Kaduna, Kano, and Ogun States), under terms and conditions acceptable to the Association, including appropriate protection against, set-off, seizure or attachment; (b) (i) deposit into its respective SPA an initial amount in accordance with the provisions of Article 6.01 (c); and (ii) thereafter, on a quarterly basis, replenish its respective SPA by the amount required to finance the respective Participating State’s contribution for expenditures under the Project other than those financed from the proceeds of the Credit by issuing an irrevocable letter of authority to the Federal Ministry of Finance to deduct such amount from the allocation due to the respective Participating State out of the Federation Account and to transfer such amount into the respective SPA; and (c) ensure that funds deposited into the respective SPA in accordance with the provisions of paragraph (b) of this Section shall be used exclusively to finance each Participating State’s contribution for expenditures under the Project.

  • Possession of the Property The Parties hereby agree that the exclusive possession of the Property shall be delivered by the Seller to the Buyer on