Construction Completion Holdback Sample Clauses

Construction Completion Holdback. If upon Traffic Availability the Contractor has not achieved Construction Completion, the Contractor shall within 30 days thereafter prepare and deliver to the Province a comprehensive workplan and schedule acceptable to the Province, acting reasonably, designed to achieve Construction Completion within a reasonable time thereafter. Following delivery and acceptance of such workplan and schedule, the Contractor shall keep the Province fully advised of all activity and progress in carrying out the workplan. If the Contractor fails to deliver a workplan and schedule within such 30 day period or, having delivered it, fails in any material respect to diligently carry out the workplan in accordance with the schedule, then the Province may hold back from any Payment an amount of up to twice the cost, estimated by the Province acting reasonably, of achieving Construction Completion. The holdback shall be proportionately released to the Contractor, without interest, as the remaining work is done (but not more frequently than monthly). When Construction Completion is achieved, the Province shall release the remaining balance of the holdback to the Contractor, without interest. If Construction Completion is not achieved within one year after Traffic Availability, the Province may by notice to the Contractor elect to do the remaining work required to achieve Construction Completion and in that event may retain the remaining balance of the holdback as liquidated damages.
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Construction Completion Holdback. If upon Traffic Availability, the Contractor has not achieved Construction Completion, the Contractor shall within 30 days thereafter prepare and deliver to the Province a comprehensive workplan and schedule acceptable to the Province, acting reasonably, designed to achieve Construction Completion within a reasonable time thereafter. Following delivery and acceptance of such workplan and schedule, the Contractor shall keep the Province fully advised of all activity and progress in carrying out the workplan. As security for the Contractor’s obligation to deliver a workplan and schedule within such 30 day period and to diligently carry out the workplan in accordance with the schedule, the Province may hold back an amount of three times the cost, estimated by the Province acting reasonably, of achieving Construction Completion. The Contractor and the Province have agreed in advance that the cost for completing the As-Built Construction Reports as defined in Schedule 14 (Technical Requirements) is Two Hundred Thousand Dollars ($200,000.00), and so the applicable hold back shall be Six Hundred Thousand Dollars ($600,000.00). When Construction Completion is achieved, the Province shall release the remaining balance of the holdback to the Contractor in accordance with Section 9.2 (Final Release of Holdback), without interest. If Construction Completion is not achieved within one year after Traffic Availability, the Province may, by notice to the Contractor, elect to do the remaining work required to achieve Construction Completion and in that event may retain the remaining balance of the holdback as liquidated damages.
Sample 1

Related to Construction Completion Holdback

  • 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.

  • Project Completion Part 1 – Material Completion

  • 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.

  • Construction Work The regulation at 41 C.F.R. § 60-1.3 defines “construction work” as the construction, rehabilitation, alteration, conversion, extension, demolition or repair of buildings, highways, or other changes or improvements to real property, including facilities providing utility services. The term also includes the supervision, inspection, and other onsite functions incidental to the actual construction.

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

  • Substantial Completion “Substantial Completion” means the stage in the progress of the Work when the Work, or designated portions thereof, may still require minor modifications or adjustments but, in the Owner’s opinion, the Work has progressed to the point such that all parts of the Work under consideration are fully operational and usable for intended purposes, as evidenced by a Certificate of Substantial Completion approved by the Owner. If a Certificate of Occupancy is required by public authorities having jurisdiction over the Work, said certificate shall be issued before the Work or any portion thereof is considered substantially complete. When the Contractor considers that the Work, or a portion thereof which the Owner agrees to accept separately, is substantially complete, the Contractor shall notify Owner’s Designated Representative (sometimes referred to as the “ODR”) and request a determination as to whether the Work or designated portion thereof is substantially complete. If the ODR does not consider the Work substantially complete, the ODR will notify the Contractor giving reasons therefore. Failure on the Owner’s part to list a reason does not alter the responsibility of the Contractor to complete all Work in accordance with the terms of this Agreement. After satisfactorily completing items identified by Owner’s Designated Representative, the Contractor shall then submit another request for the ODR to determine Substantial Completion. If The ODR considers the Work substantially complete, The ODR will prepare and deliver a certificate of Substantial Completion which shall establish the date of Substantial Completion, shall include a punch list of items to be completed or corrected before final completion and final payment, shall establish the time within which the Contractor shall finish the punch list, and shall establish responsibilities of the Owner and the Contractor for security, maintenance, heat, utilities, damage to the Work, warranty and insurance. Failure to include an item on the punch list does not alter the responsibility of the Contractor to complete all Work in accordance with the terms and conditions of this Agreement. The certificate of Substantial Completion shall be signed by the Owner and the Contractor to evidence acceptance of the responsibilities assigned to them in such certificate. Substantial Completion (as defined in this agreement) for all stages of the Work shall be achieved on or before the following Substantial Completion date: DATE FOR SUBSTANTIAL COMPLETION: TBD Under no circumstances will the time for Substantial Completion exceed this date without a written amendment to this Agreement. THE TIMES SET FORTH IN THE CONSTRUCTION DOCUMENTS ARE AN ESSENTIAL ELEMENT OF THE AGREEMENT. TIME LIMITS STATED IN THE CONTRACT DOCUMENTS ARE OF THE ESSENCE OF THIS AGREEMENT.

  • 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.

  • 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.

  • Drawings and Specifications at the Project Site The Contractor shall keep at the Site at least one copy of the Contract Documents and Change Orders, all in good order and available to the Design Professional and to his representatives.

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