Early Substantial Completion Bonus Sample Clauses

Early Substantial Completion Bonus. If the Substantial Completion Date occurs before the Target Substantial Completion Date, then Contractor will earn a bonus equal to $* per day for the first 30 days by which the Substantial Completion Date is earlier than the Target Substantial Completion Date and $* per day for each earlier day (the “Early Substantial Completion Bonus Amount”); provided, however, that for purposes of earning the Early Substantial Completion Bonus Amount the full Project performance (including the Multi Hearth Furnaces) shall be included in determining entitlement and Contractor shall not be entitled to relief, credit or adjustment based on performance failures or other performance problems due in whole or in any part of the Project provided under any Owner Contract or which is otherwise part of Owner Suppliers’ Scope, it being the intent of the Parties that such bonus shall only be earned if the complete Project demonstrates early performance.
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Early Substantial Completion Bonus. If Substantial Completion occurs for Phase 1 on or prior to [ * * * ]*, then Owner shall pay to Contractor an early completion bonus of $[ * * * ]*. If Substantial Completion occurs for Phase 1 after [ * * * ]*, but before [ * * * ]*, then Owner shall pay to Contractor an early completion bonus of $[ * * * ]*. If Substantial Completion occurs for Phase 1 after [ * * * ]*, Contractor will not be entitled to an early completion bonus. For the avoidance of doubt, the determination of whether early completion bonuses are to be paid are determined solely by whether Substantial Completion occurs on or before the specified date, and not for the reasons that Substantial Completion does not occur by such date, including without limitation for reasons of force majeure and Owner’s actions or failures to act. In no event shall Owner act or fail to act without cause and with the intent and objective to cause delays for purposes of avoiding the payment of early completion bonuses.
Sample 1
Early Substantial Completion Bonus. If the Substantial Completion Date occurs before the Required Substantial Completion Date, then Contractor will earn a bonus equal to $ per day for each day by which the Substantial Completion Date is earlier than the Required Substantial Completion Date (the “Early Substantial Completion Bonus Amount”); provided, however, that the maximum amount of the bonus payable by Owner pursuant to this Section 8.3.1.1 shall be $ .
Sample 1

Related to Early Substantial Completion Bonus

  • 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.

  • Substantial Completion Section 7.4.1 When Supplier believes that it has achieved the requirements of Substantial Completion, Supplier shall provide written notice (the “Notice of Substantial Completion”) to System Owner stating that Supplier has achieved Substantial Completion, together with copies of all documents (as identified in the definition of Substantial Completion) that are required to be delivered to System Owner to meet Substantial Completion that have not been previously delivered. Section 7.4.2 Upon receipt of the Notice of Substantial Completion, System Owner shall promptly proceed to obtain Independent Engineer’s review and approval of the Notice of Substantial Completion and the Commissioning Report within a reasonable time, but in no event more than ten (10) Business Days following receipt of the Notice of Substantial Completion and all accompanying documents or such longer period of time as specified in the Construction Schedule (the “Substantial Completion Review Period”). Section 7.4.3 Supplier shall provide System Owner with reasonable notice of the date and time of the inspection or review of the System by a representative of the applicable Governmental Authority or Host Utility, if required, for purposes of achieving Substantial Completion, and System Owner shall have the right to have one or more representatives and the Independent Engineer present during such inspection or review. If the representative of the applicable Governmental Authority or Host Utility notifies Supplier or System Owner that the requirements for achieving Substantial Completion have not been achieved, then Supplier shall promptly take such action as necessary to achieve such requirements and, to the extent applicable, schedule another inspection or review of the System. Such procedure shall be repeated until such inspection or review has been satisfactorily completed and approved. Section 7.4.4 If System Owner and the Independent Engineer approve the Notice of Substantial Completion, System Owner shall, within the Substantial Completion Review Period, (a) notify Supplier of its approval and (b) issue written notice to Supplier to complete the Work (the “Notice to Complete”). Section 7.4.5 If System Owner or the Independent Engineer has a reasonable basis not to approve the Notice of Substantial Completion because the requirements for Substantial Completion have not been met, System Owner shall, within the Substantial Completion Review Period, notify Supplier of its non-approval and include a detailed explanation for the basis thereof. Supplier shall promptly undertake such action or work as necessary to achieve such requirements and shall then issue another Notice of Substantial Completion to System Owner stating that Supplier believes that such requirements have been achieved. Such procedure shall be repeated until Substantial Completion is achieved. If Supplier disputes the reasons stated in System Owner’s notification, then such dispute shall be resolved in accordance with Article XIX.

  • Upon Substantial Completion of the Work or designated portion thereof and upon application by the Contractor and certification by the Architect, the State shall make payment, reflecting adjustment in retainage, if any, for such Work or portion thereof, as provided in the Contract Documents.

  • 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 October 31, 2024.

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

  • 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.

  • 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.

  • DATE OF COMMENCEMENT AND SUBSTANTIAL COMPLETION § 3.1 The date of commencement of the Work shall be: § 3.2 The Contract Time shall be measured from the date of commencement of the Work.

  • Certificate of Substantial Completion The certificate prepared by the Designer and approved by the Owner to the effect that the Work has reached Substantial Completion.

  • Ready for Occupancy For purposes of Section 1.3.2 of this Agreement, the Premises shall be deemed “Ready for Occupancy” upon the substantial completion of the Tenant Improvement Work. Subject to Section 4.2 below, the Tenant Improvement Work shall be deemed to be “substantially complete” upon the completion of the Tenant Improvement Work pursuant to the Approved Construction Drawings (as reasonably determined by Landlord), with the exception of any details of construction, mechanical adjustment or any other similar matter the non-completion of which does not materially interfere with Tenant’s use of the Premises.

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