Common use of DEFECTS BEFORE TRANSFER OF POSSESSION AND CONTROL OF WORK Clause in Contracts

DEFECTS BEFORE TRANSFER OF POSSESSION AND CONTROL OF WORK. Section 19.1 Identification of Defects‌ (a) If, in respect of any part of the Work not already transferred and under control by Buyer, and in all cases prior to Closing, Buyer’s Representative, at any time: (i) determines, in its sole discretion, that any Work done or Equipment or Plant supplied or materials used by Seller, Contractor or any Subcontractor is or are defective or otherwise not in accordance with the Agreement (each a “Defect”), or that any part thereof is defective or does not fulfill the requirements of the Agreement and (ii) as soon as reasonably practicable notifies Seller of the said decision, specifying particulars of the Defects alleged and of where the same are alleged to exist or to have occurred, then Seller shall with all speed, at its sole cost and expense, remedy the Defects so specified. (b) If Seller fails to remedy such Defect, Buyer may take, at the sole cost and expense of Seller, such steps as may in all the circumstances be reasonably necessary or convenient to remedy such Defects. The cost of remedying such Defect may be deducted from any payment due under the Agreement and be recoverable as a debt.

Appears in 3 contracts

Samples: Asset Purchase and Sale Agreement, Asset Purchase and Sale Agreement, Asset Purchase and Sale Agreement

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DEFECTS BEFORE TRANSFER OF POSSESSION AND CONTROL OF WORK. Section 19.1 18.1 Identification of Defects‌Defects (a) If, in respect of any part of the Work not already transferred and under control by BuyerCompany, and in all cases prior to ClosingSubstantial Completion Date, BuyerCompany’s Representative, at any time: (i) determines, in its sole discretion, that any Work done or Equipment or Plant supplied or materials used by SellerContractor, Contractor or any Subcontractor is or are defective or otherwise not in accordance with the Agreement Contract (each a “Defect”), or that any part thereof is defective or does not fulfill the requirements of the Agreement Contract and (ii) as soon as reasonably practicable notifies Seller Contractor of the said decision, specifying particulars of the Defects alleged and of where the same are alleged to exist or to have occurred, then Seller Contractor shall with all speed, at its sole cost and expense, remedy the Defects so specified. (b) If Seller Contractor fails to remedy such Defect, Buyer Company may take, at the sole cost and expense of SellerContractor, such steps as may in all the circumstances be reasonably necessary or convenient to remedy such Defects. The cost of remedying such Defect may be deducted from any payment due under the Agreement Contract and be recoverable as a debt.

Appears in 1 contract

Samples: Engineering, Procurement and Construction Contract

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