Common use of Time of Conveyance Clause in Contracts

Time of Conveyance. Subject to the other provisions of this Article VIII and Redeveloper’s completion of any applicable Active Environmental Remediation Activities with respect to the Public Garages or New Streets, the conveyance and delivery of possession of the Public Improvements to the City (the “Public Improvements Closing”) shall take place on the twentieth (20th) Business Day following delivery of a notice of closing by the Redeveloper to the City, at the Closing Location, at 10:00 a.m. local time or at such other time and place as may be agreed upon in writing by the City and the Redeveloper (the aforesaid date, such later date designated by the Redeveloper, or such other earlier agreed date, being referred to in this Agreement as the “Public Improvements Closing Date”). To the extent applicable with respect to the subject Public Garage Property or New Street, Redeveloper’s completion of Active Environmental Remediation Activities shall be performed in a manner reasonably consistent with the Environmental Work Plan prepared by the Redeveloper’s LEP and approved by the City, such approval not to be unreasonably withheld, conditioned or delayed.