Completion Guarantees. Subject to changes in the Contract Time which are mutually agreed to and finalized in accordance with the Contract Documents, Contractor hereby guarantees to cause the Work to be commenced on the Date of Commencement as provided in Section 4.1.2 hereof, and (a) to timely achieve each of the Interim Milestone Dates, and (b) to timely achieve Substantial Completion of the Work in its entirety in accordance with the requirements of Section 12.1 of this Agreement on or before the Guaranteed Date of Substantial Completion. Contractor’s failure to achieve any of the Interim Milestone Dates or Substantial Completion by the Guaranteed Date of Substantial Completion, except pursuant to mutually agreed schedule extensions which are determined and finalized in Change Orders in accordance with the Contract Documents, shall be a material breach of this Contract and Contractor shall and hereby agrees to indemnify Owner for and against any and all costs, damages, expenses, losses, liabilities and obligations relating to and/or arising out of any such delay(s), provided, however, Contractor’s liability to Owner under this Agreement relating to damages arising solely from delays in the Work caused by Contractor or for which Contractor is responsible or liable (as outlined in Section 4.4 below) shall not exceed the total amount of one-half of the Contractor’s Fee. The foregoing limitation on liability relating to delays shall not in any way limit Contractor’s liability for any other act, omission, breach or default of Contractor, Subcontractor or any Vendor, shall only relate to damages actually suffered by Owner and shall not apply to or in any way limit Contractor’s obligation to complete the Work for the Guaranteed Maximum Price, including, but not limited to, Contractor’s responsibility for all costs in excess of the Guaranteed Maximum Price pursuant to the Contract Documents, nor shall the foregoing limitation on liability in any way apply to or limit in any way any of Contractor’s obligations and covenants under Section 11.8 hereof, including, without limitation, Contractor’s obligation to provide and implement any Recovery Plan and/or take all available steps to overcome or mitigate against the adverse effects of all delays identified by Owner.
Completion Guarantees. Contractor acknowledges and agrees that it is responsible for the achievement of Mechanical Completion and Project Substantial Completion not later than the Guaranteed Mechanical Completion Date and the Guaranteed Project Substantial Completion Date, respectively (the “Guaranteed Completion Dates”). Subject to Section 11.1, Contractor warrants that Final Completion shall be achieved not later than two (2) months after the date of Project Substantial Completion (“Guaranteed Final Completion Date”), except for Punch List Items that, by their nature, cannot be completed because of seasonal weather conditions.
Completion Guarantees. In connection with any Project Debt Financing, each Shareholder and each Shareholder Group shall provide the Completion Guarantees until Completion, if required, in order to implement the Project Debt Financing in the same proportion (severally, but not jointly) as their respective holdings of Shares. Completion Guarantees from each Shareholder Group shall be provided by each entity within each Shareholder Group, including without limitation Baja Mining and each of the members of the Korean Consortium. Completion Guarantees of the Parties comprising the Korean Consortium will be provided on a several basis, based on their interests in the Korean Consortium, subject to the requirement that if any Party that is member of the Korean Consortium is not acceptable to the Financial Institutions providing Project Debt Financing to the Corporation, the Completion Guarantees of the Korean Consortium shall be joint and several among members of the Korean Consortium in respect of the obligations of any such unacceptable Korean Consortium member. Such acceptance by the Financial Institutions of a Party shall only be required once and is irrevocable.
Completion Guarantees. The Guarantors have been requested to enter into Completion Guarantees (collectively, the "Completion Guarantees," and individually, a "Completion Guarantee") for the purposes of (i) the New Bonds and the New Contingent Bonds, (ii) the General Development Agreement, (iii) the Casino Operating Contract, and (iv) the Credit Agreement.
Completion Guarantees. Subject to changes in the Contract Time which are mutually agreed to in accordance with the Contract Documents, Contractor hereby guarantees to cause the Work to be commenced on the Date of Commencement as provided in Section 4.1.2 hereof, and (a) to timely achieve each of the Interim Milestones on or before the applicable Interim Milestone Date, and (b) to timely achieve Substantial Completion in accordance with the requirements of Section 12.1 of this Agreement on or before the Guaranteed Date of Substantial Completion. Contractor shall and hereby agrees to indemnify Owner from and against any and all costs, damages, expenses, losses, liabilities and obligations relating to and/or arising out of Contractor’s failure to achieve Substantial Completion by the Guaranteed Date of Substantial Completion, except pursuant to schedule extensions which are set forth in Change Orders in accordance with the Contract Documents.
Completion Guarantees. At the request of the Management Committee or at the request of Solitario if Solitario arranges for Project Financing pursuant to clause (v) of Section 3.2(c), each Member shall execute such completion guarantees for any Project Financing as shall be requested by the Financing Parties and approved by the Management Committee. 3.9
Completion Guarantees. (a) The Manager shall ensure that the Developer for each Approved Project shall deliver a completion guarantee to the Company in connection with the closing of the applicable Approved Loan (a “Developer Completion Guarantee”) whereby the Developer will agree to cover all costs in excess of the aggregate amounts set forth in the Project Budget. Any Member or the Manager shall have the right to cause the Company to enforce any Developer Completion Guarantee and to cause the Company to take any reasonable actions in connection therewith.
Completion Guarantees. Contractor and Owner agree that the Original Project Work commenced on the Original Project Date of Commencement. Subject to changes in the Contract Time which are mutually agreed to in accordance with the Contract Documents, Contractor hereby guarantees to cause the Expansion Project Work to be commenced on the Expansion Project Date of Commencement as provided in Section 4.1.2 hereof, and (a) to timely achieve each of the Original Project Interim Milestones and the Expansion Project Interim Milestones on or before the applicable Original Project Interim Milestone Date or Expansion Project Interim Milestone Date, and (b) to timely achieve Original Project Substantial Completion and Expansion Project Substantial Completion in accordance with the requirements of Section 12.1 of this Agreement on or before the Guaranteed Date of Original Project Substantial Completion and the Guaranteed Date of Expansion Project Substantial Completion (as applicable). Contractor shall and hereby agrees to indemnify Owner from and against any and all costs, damages, expenses, losses, liabilities and obligations relating to and/or arising out of Contractor’s failure to achieve either of Original Project Substantial Completion or Expansion Project Substantial Completion by the Guaranteed Date of Original Project Substantial Completion or the Guaranteed Date of Expansion Project Substantial Completion (as applicable), except pursuant to schedule extensions which are set forth in Change Orders in accordance with the Contract Documents.
Completion Guarantees. Pursuant to their respective Completion Guarantees, the Completion Guarantors have each agreed, on a several and not joint basis, to guarantee the completion of the Development up to certain respective maximum amounts, subject to the terms and limitations therein. Amounts required to be paid under the Completion Guarantees shall be funded within the time period stated in such Completion Guarantee following written demand from the Administrative Agent and shall be deposited into the Supplemental Company Account for disbursement in accordance with the terms of this Agreement. No amount shall be treated as a payment under a Completion Guarantee unless the respective Completion Guarantor notifies the Administrative Agent that such funds constitute a payment under such Completion Guarantor’s respective Completion Guarantee.
Completion Guarantees
