Completion Holdback Sample Clauses

Completion Holdback. (a) Contracting Authority covenants and agrees with Project Co to pay to Project Co (or to such other person as Project Co otherwise directs) the Completion Holdback, together with all interest accrued thereon and applicable HST, in accordance with and on the date set out in Section 24.10(b) and to not accept any redirection without the consent of any such other person to whom payment is directed. Project Co acknowledges and agrees that payment by Contracting Authority of the Completion Holdback together with all interest accrued thereon and applicable HST, in accordance with this Section 4.6(a) constitutes payment by Contracting Authority to Project Co in satisfaction of Contracting Authority’s obligation to pay the Completion Holdback to Project Co under this Project Agreement and in satisfaction of any trust obligation of Contracting Authority with respect to such payments under Section 7 of the CLA pursuant to Section 10 of the CLA.
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Completion Holdback. (a) The Completion Holdback may be reduced from time to time as a result of such actions by Project Co, as confirmed by the Independent Certifier, in accordance with the terms and conditions of this Project Agreement. To the extent the Completion Holdback is reduced from time to time, Project Co hereby irrevocably directs Contracting Authority to pay the amount of any Completion Holdback reduction, together with all interest accrued thereon and applicable HST, to the Lenders’ Agent or as the Lenders’ Agent may direct. Contracting Authority agrees to pay the Completion Holdback reductions as directed by Project Co and shall not accept any redirection without the consent of the Lenders’ Agent. Project Co acknowledges and agrees that payment by Contracting Authority of the Completion Holdback reductions in accordance with this Section 4.7(a) to the Lenders’ Agent or as the Lenders’ Agent may direct constitutes payment by Contracting Authority to Project Co in satisfaction of Contracting Authority’s obligation to pay the Completion Holdback reductions to Project Co under this Project Agreement and in satisfaction of any trust obligation of Contracting Authority with respect to such payments under section 7 of the CLA pursuant to section 10 of the CLA.
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Completion Holdback. (a) The College covenants and agrees with Project Co to pay to Project Co the Completion Holdback on Final Completion or pay to such party as otherwise directed by Project Co and shall not accept any redirection without the consent of the person to whom payment is directed. The College agrees to pay the Completion Holdback as Project Co may direct in accordance with any such direction. Project Co acknowledges and agrees that payment by the College of the Completion Holdback in accordance with this Section 4.6 as Project Co may direct constitutes payment by the College to Project Co in satisfaction of the College’s obligation to pay the Completion Holdback to Project Co under this Project Agreement and in satisfaction of any trust obligation of the College with respect to such payments under Section 7 of the CLA pursuant to Section 10 of the CLA.
Sample 1
Completion Holdback. (a) Contracting Authority covenants and agrees with Project Co to pay to Project Co (or to such other person as Project Co otherwise directs) the Completion Holdback, together with all interest accrued thereon and applicable HST, in accordance with and on the date set out in Section 24.11(b) or Section 24.11(c), as applicable, and to not accept any redirection without the consent of any such other person to whom payment is directed. Project Co acknowledges and agrees that payment by Contracting Authority of the Completion Holdback together with all interest accrued thereon and applicable HST, in accordance with this Section 4.7(a) constitutes payment by Contracting Authority to Project Co in satisfaction of Contracting Authority’s obligation to pay the Completion Holdback to Project Co under this Project Agreement and in satisfaction of any trust obligation of Contracting Authority with respect to such payments under section 7 of the Construction Act pursuant to section 10 of the Construction Act.
Sample 1

Related to Completion Holdback

  • Completion Date The Work under this Contract shall be completed by midnight of the date required in the Contract as the Material Completion and Occupancy Date unless extended by approved requests for extension of time.

  • Project Completion Date It is agreed between the Parties that the Project Completion Date is <END DATE, YEAR>. If the Project is not completed by such date then, subject to an amendment agreed to between the Parties, Alberta Innovates may elect to terminate this Investment Agreement. In such event, Alberta Innovates will notify the Applicant of its decision to terminate as soon as reasonably practical and shall advise the Applicant of the effective date of termination. Alberta Innovates will have no liability or obligation to reimburse the Applicant for any Project Costs incurred after the effective date of termination and may require the Applicant to return any portions of the Investment which were spent on Ineligible Expenses. Additionally, any portion of the Investment not used and accounted for in accordance with this Agreement as of the Project Completion Date or earlier termination is repayable by the Applicant to AI at AI’s request.

  • Final Completion The full and final completion of all Work in accordance with the Contract Documents.

  • DISPOSAL COMPLETION Purchaser shall remove organic debris from the road surface, ditchlines, and culvert inlets and outlets. Purchaser shall complete all disposal of organic debris before the application of rock.

  • Final Completion Date Final Completion for the Work as defined in Article 6.1.3 of the General Conditions to the Continuing Contract for Construction Management shall be achieved by September 30, 2022.

  • Substantial Completion Date Substantial Completion of the Work as defined in Article 6.1.2 of the General Conditions to the Continuing Contract for Construction Management shall be achieved by July 31, 2022.

  • Project Completion Part 1 – Material Completion

  • Completion Time The Consultant must complete the services and deliverable for this task in accordance with whichever one of the following time is marked: On or before the following date: . On or before Business Days from . Task No. 3: [Insert title of deliverable.]

  • Construction Completion The related Construction shall have been completed substantially in accordance with the related Plans and Specifications, the related Deed and all Applicable Laws, and such Leased Property shall be ready for occupancy and operation. All fixtures, equipment and other property contemplated under the Plans and Specifications to be incorporated into or installed in such Leased Property shall have been substantially incorporated or installed, free and clear of all Liens except for Permitted Liens.

  • Completion of Punch List items 14.4.1 All items in the Punch List shall be completed by the Concessionaire within 90 (ninety) days of the date of issue of the Provisional Certificate and for any delay thereafter, other than for reasons solely attributable to the Authority or due to Force Majeure, the Authority shall be entitled to recover Damages from the Concessionaire to be calculated and paid for each day of delay until all items are completed, at the lower of (a) 0.1% (zero point one per cent) of the Performance Security, and (b) 0.2% (zero point two per cent) of the cost of completing such items as estimated by the Independent Engineer. Subject to payment of such Damages, the Concessionaire shall be entitled to a further period not exceeding 120 (one hundred and twenty) days for completion of the Punch List items. For the avoidance of doubt, it is agreed that if completion of any item is delayed for reasons solely attributable to the Authority or due to Force Majeure, the completion date thereof shall be determined by the Independent Engineer in accordance with Good Industry Practice, and such completion date shall be deemed to be the date of issue of the Provisional Certificate for the purposes of Damages, if any, payable for such item under this Clause 14.4.1.

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