Home

Intelligence

Services

Subscriptions

News

About Us

Sign In

 

Document Preview

Construction Agency Agreement

 

Click "Add to Cart" button to purchase document. 
Documents are emailed immediately after purchase. 
You can also browse documents by
title, category, or company... or click here for help finding documents.

 

Title:

Construction Agency Agreement

Entities:

First Union National Bank; Fleet National Bank; Fleet Securities, Inc.; Human Genome Sciences Inc.; Genome Statutory Trust 2001A

Date:

2002

Size:

Preview shows 13KB of 83KB total

Price:

$40

ID:

#283207

 

 

► Financing ► Agency ► Construction Agency Agreements
► Financial
► Biotech & Drugs ► In Vitro & In Vivo Diagnostic Substances

 

 

Start of Preview


                          CONSTRUCTION AGENCY AGREEMENT


dated as of November 7, 2001
among
GENOME STATUTORY TRUST 2001A
as Lessor

HUMAN GENOME SCIENCES, INC.
as Construction Agent



------------------------------------------------------------------------





{PAGE}

CONSTRUCTION AGENCY AGREEMENT (HGSI)


CONSTRUCTION AGENCY AGREEMENT

Construction Agency Agreement, dated as of November 7, 2001 (this
"Agreement"), between Genome Statutory Trust 2001A, (the "Lessor"), and Human
Genome Sciences, Inc., a Delaware corporation ("HGSI"), as Construction Agent.

W I T N E S S E T H:
- - - - - - - - - -

A. Lessor and Construction Agent are parties to that certain
Participation Agreement (as hereafter defined) pursuant to which Construction
Agent, as a Lessee, has agreed to lease from Lessor, and Lessor has agreed to
lease to such Lessee, Lessor's interest in the Properties pursuant to the Lease.

B. Lessor, such Lessee and Construction Agent are parties to that
certain Participation Agreement of even date herewith (as amended, supplemented
or otherwise modified, "Participation Agreement"), among HGSI, as Lessee and
Construction Agent, Traville LLC, as Ground Lessor, Lessor, Wells Fargo Bank
Northwest, N.A., as Trustee, BancBoston Leasing Investments Inc. and First Union
National Bank, as Investors, EagleFunding Capital Corporation, as Lender, Fleet
Securities, Inc., as Administrator, Fleet National Bank and First Union National

Bank, as Liquidity Providers, Fleet National Bank, as Fleet National Bank
Collateral Agent, First Union National Bank, as First Union Collateral Agent and
Fleet National Bank, as Administrative Agent and Liquidity Agent.

C. Subject to the terms and conditions hereof, (i) Lessor desires
to appoint Construction Agent as its sole and exclusive agent for the
construction of the Traville Improvements on the Traville Site in accordance
with the Approved Traville Construction Budget, Approved Traville Construction
Schedule and Approved Traville Plans and Specifications (each as described more
fully in Exhibit A hereto and as each of the foregoing may be modified from time
to time in accordance with this Agreement)(collectively, the "Traville
Construction Materials") pursuant to this Agreement, and (ii) Construction Agent
desires, for the benefit of Lessor, to cause the Traville Improvements to be
constructed in accordance with the Traville Construction Materials and in each
case in accordance with the terms set forth herein and in the Participation
Agreement.

D. Subject to the terms and conditions hereof, the satisfaction or
waiver of the conditions set forth in Section 4.3 of the Participation
Agreement, and the delivery of the Manufacturing Facility Supplement (i) Lessor
desires to appoint Construction Agent as its sole and exclusive agent for the
construction of the Manufacturing Facility Improvements on the Manufacturing
Facility Site in accordance with the Approved Manufacturing Construction Budget,
Approved Manufacturing Construction Schedule and Approved Manufacturing Plans
and Specifications (each as will be described more fully in Exhibit A to the
Manufacturing Facility Supplement and as each of the foregoing may be modified
from time to time in accordance with this Agreement)(collectively, the
"Manufacturing Construction Materials") and pursuant to this Agreement, and (ii)
Construction Agent desires, for the benefit of Lessor, to cause the
Manufacturing Facility Improvements to be constructed in accordance with the
Manufacturing Construction Materials and in each case in accordance with the
terms set forth herein and in the Lease.



1
{PAGE}

CONSTRUCTION AGENCY AGREEMENT (HGSI)


NOW, THEREFORE, in consideration of the foregoing, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and intending to be legally bound hereby, the parties hereto
covenant and agree as follows:

ARTICLE I
DEFINITIONS

1.1 Definitions; Interpretation; Amendment and Restatement.
Capitalized terms used but not otherwise defined in this Agreement shall have
the meanings set forth in Appendix A to the Participation Agreement, and the
rules of interpretation set forth therein shall apply to this Agreement.

ARTICLE II
APPOINTMENT OF CONSTRUCTION AGENT

2.1 Appointment and Acceptance.

Pursuant to and subject to the terms and conditions set forth herein and
in the Participation Agreement and the other Operative Documents, Lessor hereby
irrevocably designates and appoints Construction Agent as its exclusive agent
for (i) the purchase of the Manufacturing Facility Site, (ii) the construction
of the Traville Improvements on the Traville Site in accordance with the
Approved Traville Plans and Specifications, and (iii) subject to the
satisfaction or waiver of the conditions set forth in Section 4.3 of the
Participation Agreement and the delivery of the Manufacturing Facility
Supplement, the construction of the Manufacturing Improvements in accordance
with the Approved Manufacturing Plans and Specifications, and Construction Agent
by entering into this Agreement accepts such designation and appointment.

2.2 Term. This Agreement shall commence on the Documentation Date
and shall terminate with respect to a Property upon the first to occur of:

(a) Substantial Completion of such Property and the
performance of all other material obligations of Construction Agent
hereunder with respect thereto; and

(b) payment by Lessee or Lessor's receipt through other
provisions of the Operative Documents of the aggregate Lease Balance, or
the applicable Lease Balance for such Property, and all other amounts
owing under the Operative Documents (including Article V of the Lease,
incorporated herein by reference), and termination of the Commitments in
accordance with the Participation Agreement; and

(c) termination of this Agreement by Lessor pursuant to
Article V.

2.3 Supplement to this Agreement. On the Manufacturing Facility Site
Purchase Date, Lessor and Construction Agent shall execute and deliver a
supplement to this Agreement in the form set forth on Exhibit B hereto (the
"Manufacturing Facility Supplement"), appropriately completed, pursuant to which
Lessor and Construction Agent shall, among other things, each acknowledge and
agree that the construction and development of the Manufacturing Facility on the
Manufacturing Facility Site will be governed by the terms of this Agreement.



2
{PAGE}

CONSTRUCTION AGENCY AGREEMENT (HGSI)


Following the execution and delivery of the Manufacturing Facility Supplement as
provided above and the satisfaction or waiver of all of the conditions set forth
in Section 4.3 of the Participation Agreement, such Manufacturing Facility
Supplement, and Exhibit A to the Manufacturing Facility Supplement attached
thereto, shall constitute a part of this Agreement.

2.4 Construction Materials; Construction Documents.

(a) Traville Facility

(i) Construction Agent shall develop, define, refine
and detail proposed budgets, construction schedules and Traville
Plans and Specifications for the Traville Facility. Construction
Agent shall cause each such proposal to provide for compliance
and conformance with generally accepted construction practices,
Applicable Law, Insurance Requirements, Environmental
Requirements and Section 2.6(a) and shall cause each such
proposal to have a reasonable likelihood that it can be
completed as intended on time and within budget. In addition,
the budget for the Traville Facility shall not exceed Two
Hundred and Twenty-Five Million Dollars ($225,000,000), except
as otherwise provided in clause (ii) below. Construction Agent
shall cause such proposal to be provided to the Construction
Consultant for review and approval. Upon the approval of any
such proposal by the Construction Consultant of such proposed
construction budget, construction schedule or plans and
specifications for the Traville Facility, such proposed
construction budget, construction schedule or plans and
specifications shall become, as applicable, the approved
construction budget (as amended or modified from time to time in
accordance with the Terms of this Agreement, the "Approved
Traville Construction Budget"), the approved construction
schedule (as amended or modified from time to time in accordance
with the Terms of this Agreement, the "Approved Traville
Construction Schedule") and the approved plans and
specifications (as amended or modified from time to time in
accordance with the terms of this Agreement, the "Approved
Traville Plans and Specifications") for the Traville Facility.
Failure of the Construction Consultant to respond within sixty
(60) days of receipt in writing of any such proposal will be
deemed rejection thereof, however, if the Construction
Consultant requests additional information or clarifications,
such sixty (60) day period will commence from the date when all
such requests have been satisfied. If the Construction
Consultant shall reject or not expressly approve any such
proposal, then Construction Agent shall consult with the
Construction Consultant, revise such proposal and resubmit it,
repeating such process until all Traville Construction Materials
are approved or deemed to be approved.

(ii) During the Construction Period, Construction
Agent may enter into any changes, supplements, amendments or
revisions ("change orders") to the Traville Construction
Materials so long as the change order could not reasonably have
any adverse effect on the as-built value, utility, residual
value at the end of the Lease Term or useful life of the
Traville Facility or extend Substantial Completion of the
Property beyond the Outside Completion Date (such a change order
that results in an adverse affect described above with respect
to either



3
{PAGE}

CONSTRUCTION AGENCY AGREEMENT (HGSI)


Property, a "Material Change Order"), and the costs attributable
to such change order, together with the costs of all other

 

End of Preview

 

Home        Intelligence        Services        Subscriptions        News        About Us

Contact Us       Terms of Use       Resend Documents       Shopping Cart

Copyright © 2008 The Consus Group LLC