Hold-Back Rights Clause Samples
Hold-Back Rights. The Minister may withhold up to ten per cent (10%) of the Contribution prior to the completion of the Project or until such audit as he/she may require has been performed. In the event that no audit has been performed eighteen months after receipt of the final claim, any amount so withheld shall be released to the Proponent.
Hold-Back Rights. The Minister will have no obligation to pay more than 90% of the Contribution prior to the date on which the Minister has approved the final claim referred to in subsection 4.3.