Common use of Certified Cost to Complete Clause in Contracts

Certified Cost to Complete. (a) After Owner has paid the Owner Reimbursement Payment, it shall thereafter continue to be responsible for payment to Project Co of the Certified Cost to Complete as at the Reimbursement Payment Date on a progress payment basis in the manner and at the times contemplated in this Project Agreement. Owner shall pay the Certified Cost to Complete to Project Co or as otherwise directed by Project Co and shall not accept any redirection without the consent of the person to whom payment is directed. Owner agrees to pay the Certified Cost to Complete as Project Co may direct in accordance with such direction. Project Co acknowledges and agrees that payment by Owner of the Certified Cost to Complete in accordance with this Section 4.8 as Project Co may direct constitutes payment by Owner to Project Co in satisfaction of Owner’s obligation to pay the Certified Cost to Complete under the Project Agreement and in satisfaction of any trust obligation of Owner with respect to such payments under Section 7 of the Construction Lien Act (Ontario) pursuant to Section 10 of the Construction Lien Act (Ontario).

Certified Cost to Complete. (a) After Owner has paid the Owner Final Reimbursement Payment, it shall thereafter continue to be responsible for payment to Project Co of the Certified Cost to Complete as at the Final Reimbursement Payment Date on a progress payment basis in the manner and at the times contemplated in this Project Agreement. Owner shall pay the Certified Cost to Complete to Project Co or as otherwise directed by Project Co and shall not accept any redirection without the consent of the person to whom payment is directed. Owner agrees to pay the Certified Cost to Complete as Project Co may direct in accordance with such direction. Project Co acknowledges and agrees that payment by Owner of the Certified Cost to Complete in accordance with this Section 4.8 4.10 as Project Co may direct constitutes payment by Owner to Project Co in satisfaction of Owner’s obligation to pay the Certified Cost to Complete under the Project Agreement and in satisfaction of any trust obligation of Owner with respect to such payments under Section 7 of the Construction Lien Act (Ontario) pursuant to Section 10 of the Construction Lien Act (Ontario).