Common use of Agreement Price Clause in Contracts

Agreement Price. 2.1 CONTRACTOR will pay SUBCONTRACTOR for the satisfactory performance of the WORK listed in the WORK AUTHORIZATION FORM, those amounts set forth in the WORK AUTHORIZATION FORM for the specific items or tasks set forth therein. 2.2 CONTRACTOR agrees to pay SUBCONTRACTOR for said work subject to additions and deductions as herein provided, payable as work progresses, on estimates made and approved by CONTRACTOR and within ten (10) days after CONTRACTOR actually receives payment from OWNER in relation to SUBCONTRACTOR's Work. CONTRACTOR shall be entitled to withhold at its option ten percent (10%) of each estimate until final payment and may withhold any payment until SUBCONTRACTOR has furnished CONTRACTOR with suitable evidence (which may include affidavits) that SUBCONTRACTOR has paid in full all labor including union benefits, materials, supplies, taxes, withholding and other obligations in connection with the work included in this AGREEMENT, written acceptance by the OWNER, full payment therefore by OWNER, and receipt of Unconditional/Conditional Waivers and Releases. 2.3 CONTRACTOR may in addition without prejudice to any other rights and remedies withhold from any payment or retention up to 150% of the amount of any disputed item, including but not limited to, amounts CONTRACTOR believes may be necessary to withhold to protect CONTRACTOR from any potential claims involving SUBCONTRACTOR’s Work, defense costs (including but not limited to attorneys’ fees) of any claims relating to SUBCONTRACTOR’S work, SUBCONTRACTOR’s deficient performance under this Agreement, breach of warranty or claims which may result from SUBCONTRACTOR failing to furnish appropriate waivers, releases, affidavits of compliance as called for in this AGREEMENT and certified payrolls under Section 3.7 for itself or any lower tier subcontractors or suppliers. 2.4 CONTRACTOR shall have the right, at its option, to pay directly to any person, firm, association or corporation any sum due or to become due from Subcontractor to such payee for performance or furnishing any work, labor, materials, supplies, tools, equipment, or other things used or intended for use in connection with the execution of the WORK AUTHORIZATION by SUBCONTRACTOR. All such payments made will be considered payment for SUBCONTRACTOR’S account and said amount may be deducted from any amounts due by CONTRACTOR to SUBCONTRACTOR. 2.5 Notwithstanding any other term of this AGREEMENT, CONTRACTOR shall be permitted a reasonable period of time to pursue remedies and collect from OWNER or other persons for progress payments, final payments or other payments on account of SUBCONTRACTOR's work or claims, before payment shall become due to SUBCONTRACTOR. What is a "reasonable time" shall be decided based upon all relevant circumstances, but shall in no event be less than the amount of time needed to pursue to conclusion (including collection) available remedies against OWNER, insurers, other subcontractors, or any other party responsible for payment. 2.6 Should one or more contracts now or hereafter exist between the parties hereto concerning one or more construction projects, then a breach by SUBCONTRACTOR of any contract may, at the option of the CONTRACTOR, be considered a breach of all contracts. In such event, CONTRACTOR may terminate any or all of the contracts so breached or may withhold monies due or to become due on such contracts and apply the monies withheld toward payment of any damages suffered on that or any other contract.

Agreement Price. 2.1 CONTRACTOR (a) PRESTON PIPELINES will pay SUBCONTRACTOR for the satisfactory performance of this AGREEMENT the WORK listed in the WORK AUTHORIZATION FORM, those amounts set forth in the WORK AUTHORIZATION FORM for the specific items or tasks set forth thereinsum of . 2.2 CONTRACTOR (b) PRESTON PIPELINES agrees to pay SUBCONTRACTOR monthly progress payments for said SUBCONTRACTOR’s work actually and satisfactorily completed, subject to additions and deductions as herein provided, payable as work progresses, on estimates made in sums equal to ninety (90) percent of the labor, materials, equipment and services that have been placed in position, as reflected in PRESTON PIPELINES’ application for payment and as approved by CONTRACTOR and OWNER. Payment shall be made within ten seven (107) days after CONTRACTOR PRESTON PIPELINES actually receives payment from OWNER or General Contractor on account of SUBCONTRACTOR’s work, provided all other conditions hereof have been satisfied and there are no grounds for withholding. SUBCONTRACTOR as a condition to payment agrees to provide waivers and releases for itself and its subcontractors and suppliers regardless of tier, as well as other evidence of payment to such persons, in relation a form satisfactory to PRESTON PIPELINES, including without limitation, payroll affidavits, receipts, vouchers or other documentation(see section V., Subcontractor Obligations), demonstrating that SUBCONTRACTOR has paid for all labor, equipment, materials, services, taxes or other charges in any way relating to SUBCONTRACTOR's Work’s work and obligations in connection with the PROJECT. CONTRACTOR PRESTON PIPELINES shall be entitled to withhold at its option ten percent (10%) of each estimate until final payment payment, or the maximum permitted by law, whichever is less, and may withhold any payment until SUBCONTRACTOR has furnished CONTRACTOR PRESTON PIPELINES with suitable evidence (which may include affidavits) that SUBCONTRACTOR has paid in full for all labor including union benefits, materials, supplies, taxes, withholding and other obligations in connection with the work included in this AGREEMENT, written acceptance by the OWNEREngineer, full payment therefore by General Contractor and or OWNER, and receipt of UnconditionalConditional/Conditional Unconditional Waivers and Releases. 2.3 CONTRACTOR may in addition without prejudice to any other rights and remedies withhold from any payment or retention up to 150% of the amount of any disputed item, including but not limited to, amounts CONTRACTOR believes may be necessary to withhold to protect CONTRACTOR from any potential claims involving SUBCONTRACTOR’s Work, defense costs (including but not limited to attorneys’ fees) of any claims relating to SUBCONTRACTOR’S work, SUBCONTRACTOR’s deficient performance under this Agreement, breach of warranty or claims which may result Releases from SUBCONTRACTOR failing and its subcontractors and suppliers, regardless of tier. Final payment to furnish appropriate waivers, releases, affidavits of compliance as called for in this AGREEMENT and certified payrolls under Section 3.7 for itself or any lower tier subcontractors or suppliers. 2.4 CONTRACTOR shall have the right, at its option, to pay directly to any person, firm, association or corporation any sum due or to become due from Subcontractor to such payee for performance or furnishing any work, labor, materials, supplies, tools, equipment, or other things used or intended for use in connection with the execution of the WORK AUTHORIZATION by SUBCONTRACTOR. All such payments made will be considered payment for SUBCONTRACTOR’S account and said amount may be deducted from any amounts due by CONTRACTOR to SUBCONTRACTOR. 2.5 Notwithstanding any other term of this AGREEMENT, CONTRACTOR SUBCONTRACTOR shall be permitted a reasonable period of time to pursue remedies and collect from OWNER or other persons for progress payments, final payments or other payments on account of SUBCONTRACTOR's work or claims, before payment shall become due to SUBCONTRACTOR. What is a "reasonable time" shall be decided based upon all relevant circumstances, but shall in no event be less than the amount of time needed to pursue to conclusion (including collection) available remedies against OWNER, insurers, other subcontractors, or any other party responsible for payment. 2.6 Should one or more contracts now or hereafter exist between the parties hereto concerning one or more construction projects, then a breach by SUBCONTRACTOR of any contract may, at the option of the CONTRACTOR, be considered a breach of all contracts. In such event, CONTRACTOR may terminate any or all of the contracts so breached or may withhold monies due or to become due on such contracts and apply the monies withheld toward payment of any damages suffered on that or any other contract.made ten

Agreement Price. 2.1 CONTRACTOR will pay SUBCONTRACTOR for the satisfactory performance of the WORK listed in the WORK AUTHORIZATION FORM, those amounts set forth in the WORK AUTHORIZATION FORM for the specific items or tasks set forth therein. 2.2 CONTRACTOR agrees to pay SUBCONTRACTOR for said work subject to additions and deductions as herein provided, payable as work progresses, on estimates made and approved by CONTRACTOR and within ten (10) days after CONTRACTOR actually receives payment from OWNER in relation to SUBCONTRACTOR's Work. CONTRACTOR shall must be entitled to withhold at its option ten percent (10%) of each estimate until final payment and may withhold any payment until SUBCONTRACTOR has furnished CONTRACTOR with suitable evidence (which may include affidavits) that SUBCONTRACTOR has paid in full all labor including union benefits, materials, supplies, taxes, withholding and other obligations in connection with the work included in this AGREEMENT, written acceptance by the OWNER, full payment therefore by OWNER, and receipt of Unconditional/Conditional Waivers and Releases. 2.3 CONTRACTOR may in addition without prejudice to any other rights and remedies withhold from any payment or retention up to 150% of the amount of any disputed item, including but not limited to, amounts CONTRACTOR believes may be necessary to withhold to protect CONTRACTOR from any potential claims involving SUBCONTRACTOR’s Work, defense costs (including but not limited to attorneys’ fees) of any claims relating to SUBCONTRACTOR’S work, SUBCONTRACTOR’s deficient performance under this Agreement, breach of warranty or claims which may result from SUBCONTRACTOR failing to furnish appropriate waivers, releases, affidavits of compliance as called for in this AGREEMENT and certified payrolls under Section 3.7 for itself or any lower tier subcontractors or suppliers. 2.4 CONTRACTOR shall must have the right, at its option, to pay directly to any person, firm, association or corporation any sum due or to become due from Subcontractor to such payee for performance or furnishing any work, labor, materials, supplies, tools, equipment, or other things used or intended for use in connection with the execution of the WORK AUTHORIZATION by SUBCONTRACTOR. All such payments made will be considered payment for SUBCONTRACTOR’S account and said amount may be deducted from any amounts due by CONTRACTOR to SUBCONTRACTOR. 2.5 Notwithstanding any other term of this AGREEMENT, CONTRACTOR shall must be permitted a reasonable period of time to pursue remedies and collect from OWNER or other persons for progress payments, final payments or other payments on account of SUBCONTRACTOR's work or claims, before payment shall must become due to SUBCONTRACTOR. What is a "reasonable time" shall must be decided based upon all relevant circumstances, circumstances but shall must in no event be less than the amount of time needed to pursue to conclusion (including collection) available remedies against OWNER, insurers, other subcontractors, or any other party responsible for payment. 2.6 Should one One or more contracts now or hereafter exist between the parties hereto concerning one or more construction projects, then a breach by SUBCONTRACTOR of any contract may, at the option of the CONTRACTOR, be considered a breach of all contracts. In such event, CONTRACTOR may terminate any or all of the contracts so breached or may withhold monies due or to become due on such contracts and apply the monies withheld toward payment of any damages suffered on that or any other contract.

Agreement Price. 2.1 CONTRACTOR will pay SUBCONTRACTOR 7.1 Payment for the satisfactory performance Services will be at the rates provided in Exhibit B. Contractor will invoice Company and provide Company substantiation of hours worked and costs incurred, including hours worked and costs incurred by third parties providing any part of the WORK listed Services. Invoices, in triplicate and showing the Agreement number, shall be submitted as promptly as possible, but no later than six (6) months from the date Services are performed. Payment for Services in accordance with the provisions of this Agreement will be made within thirty (30) days of receiving an invoice in the WORK AUTHORIZATION FORM, those amounts set forth in the WORK AUTHORIZATION FORM for the specific items or tasks set forth thereinproper form with written verifications. 2.2 CONTRACTOR agrees to 7.2 Except as otherwise provided in this Agreement, Contractor shall supply and pay SUBCONTRACTOR for said work subject to additions and deductions as herein providedall services, payable as work progresses, on estimates made and approved by CONTRACTOR and within ten materials (10) days after CONTRACTOR actually receives payment from OWNER in relation to SUBCONTRACTOR's Work. CONTRACTOR which unless otherwise specified shall be entitled to withhold at its option ten percent (10%) of each estimate until final payment new), and may withhold any payment until SUBCONTRACTOR has all other items ordinarily furnished CONTRACTOR with suitable evidence (which may include affidavits) that SUBCONTRACTOR has paid in full all labor including union benefitsby Contractor, materialsdirectly or indirectly, supplies, taxes, withholding and other obligations in connection with the work included Services. Company shall supply the services, materials and other items expressly described on Exhibit A. 7.3 Where Contractor, at the request of Company, furnishes services, materials or other items which Company is obligated to furnish or supply, Company, upon receipt from Contractor of substantiation of costs incurred, will reimburse Contractor for the actual costs of those services, materials or other items. 7.4 Company shall have the right to retain any portion of the amount payable to Contractor until such time as Company has been presented an affidavit in the form attached hereto as Exhibit C from each person or entity that has provided labor, services, materials or equipment in connection with the Services stating that the person or entity has been paid in full for all such labor, services, materials or equipment or until the applicable statutory period for filing liens has expired. Company shall have the right to request such affidavits from subcontractors, vendors, materialmen, equipment suppliers and laborers. 7.5 Contractor authorizes Company to deduct from any amount payable to Contractor (whether or not arising out of this AGREEMENTAgreement), written acceptance all amounts which may be payable by the OWNER, full payment therefore by OWNERContractor to Company, and receipt also all amounts for which Company may become liable to third parties due to Contractor's acts in performing or failing to perform Contractor's obligations under this Agreement. If the amount or validity of Unconditional/Conditional Waivers and Releases. 2.3 CONTRACTOR these claims made by a third party is disputed by Contractor, or if any indebtedness exists which appears to be the basis for a claim or lien, Company may in addition without prejudice to any other rights and remedies withhold from any payment due, without liability for interest because of such withholding, an amount sufficient to cover such claim. Companies exercise or retention up failure to 150% exercise such right to deduct or to withhold shall not, however, affect the obligation of Contractor to protect Company as elsewhere provided in this Agreement. 7.6 Contractor accepts exclusive liability for payment of federal and state payroll taxes and for contributions for unemployment insurance, old age pensions, annuities, retirement, and other benefits, imposed under any provision of any law, and measured by remuneration paid or payable by Contractor to employees of Contractor engaged in the Services or in any incidental operation. Contractor will require that each subcontractor who performs a -any part of the amount Services accept the same responsibility and liability with respect to employees of any disputed item, including but not limited to, amounts CONTRACTOR believes may be necessary to withhold to protect CONTRACTOR from any potential claims involving SUBCONTRACTOR’s Work, defense costs (including but not limited to attorneys’ fees) of any claims relating to SUBCONTRACTOR’S work, SUBCONTRACTOR’s deficient performance under this Agreement, breach of warranty or claims which may result from SUBCONTRACTOR failing to furnish appropriate waivers, releases, affidavits of compliance as called for in this AGREEMENT and certified payrolls under Section 3.7 for itself or any lower tier subcontractors or suppliersthat subcontractor. 2.4 CONTRACTOR 7.7 Payment for the Services shall have the right, at its option, to pay directly to any person, firm, association only be due if (a) no lien or corporation any sum due claim for labor and services performed or to become due from Subcontractor to such payee for performance materials and equipment furnished for or furnishing any work, labor, materials, supplies, tools, equipment, or other things used or intended for use in connection with the execution of Services has been filed or made; (b) the WORK AUTHORIZATION Services have been inspected and accepted by SUBCONTRACTOR. All such payments made will be considered payment for SUBCONTRACTOR’S account Company; and said amount may be deducted from any amounts due by CONTRACTOR to SUBCONTRACTOR. 2.5 Notwithstanding any other term of this AGREEMENT, CONTRACTOR shall be permitted a reasonable period of time to pursue remedies and collect from OWNER or other persons for progress payments, final payments or other payments on account of SUBCONTRACTOR's work or claims, before payment shall become due to SUBCONTRACTOR. What is a "reasonable time" shall be decided based upon all relevant circumstances, but shall in no event be less than the amount of time needed to pursue to conclusion (including collectionc) available remedies against OWNER, insurers, other subcontractors, or any other party responsible for payment. 2.6 Should one or more contracts now or hereafter exist between the parties hereto concerning one or more construction projects, then a breach by SUBCONTRACTOR of any contract may, at the option of the CONTRACTOR, be considered a breach of all contracts. In such event, CONTRACTOR may terminate any or Contractor has met all of the contracts so breached or may withhold monies due or to become due on such contracts and apply the monies withheld toward payment terms of any damages suffered on that or any other contractthis Agreement.