Building Contracts Clause Samples
A Building Contracts clause defines the terms and conditions governing the construction or renovation of a structure between a client and a contractor. It typically outlines the scope of work, timelines, payment schedules, quality standards, and responsibilities of each party involved in the project. For example, it may specify the materials to be used, procedures for handling delays, and mechanisms for resolving disputes. The core function of this clause is to ensure that both parties have a clear, enforceable agreement that allocates risk, sets expectations, and provides a framework for managing the construction process efficiently.
Building Contracts. The Owners undertake not to agree or to permit any changes to the Building Contracts which are likely have an adverse effect on the Market Value of the New Vessels or otherwise materially alter the Vessels, including any change in class notation.
Building Contracts. The Architect undertakes the analysis of Tenders from the Contractors, prepares his/her report, recommends to the Client the list of Contractors to retain and finalizes the Building Contract documents. The Architect advises against the choice of a Contractor if, in particular, it appears to him/her neither to present sufficient guarantees nor prove adequate insurance to cover its professional risks. If the Client does not follow the recommendation of the Architect, it assumes the consequences. At the conclusion of the Tender Action, if the Construction Cost estimate by separate trades is exceeded with a tolerance rate of % with respect to the estimate prepared at the Design Development Work Stage (at present day value), the Client can accept the new Construction Cost. Otherwise, at the request of the Client, the Architect undertakes to propose revisions in order to respect the Construction Budget approved at the Design Development Work Stage. The Client and the Contractors retained sign the Building Contracts. The Client agrees with the Architect and Contractors the commencement date of the construction site, signs and submits to the authorities the Commencement Notice.
Building Contracts. The Facility Agent having received copies of all Building Contracts, and contracts with third party suppliers of material components of the GPA 654 Vessels certified as true and complete by an officer of the Borrower, which contracts shall be satisfactory to the Facility Agent and its counsel;
Building Contracts. The copies of the General Construction Contracts and the Architects’ Agreements furnished to Bank and to be furnished to the Bank are true and correct copies thereof. Such contracts cover all work- and services necessary or desirable for the design, planning and construction of the Improvements, and Borrowers have not entered into, and will not enter into without the prior written consent of Bank, any other contract or agreement for or relating to such design, planning and construction.
Building Contracts. Lessee acknowledges and agrees that the Leased Property is subject to the following contracts relating to the use, operation and maintenance thereof:
(a) Laundry Equipment Lease; and
(b) those certain service and other contracts identified on EXHIBIT B attached hereto and made a part hereof (collectively the "Service Contracts").