Common use of Holdbacks Clause in Contracts

Holdbacks. If the Contractor fails to deliver a workplan and schedule in accordance with Section 8.3 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 (without duplication) from any amounts thereafter becoming payable to the Contractor under this Agreement an aggregate amount (the “Holdback”) that the Province, acting reasonably and following consultation with the Contractor and having regard to the amounts of the O&M Payments remaining to be made during the remainder of the Term, considers sufficient to achieve the Handback Requirements at the end of the Term in the event that the Contractor were to fail to do so. Notwithstanding the foregoing, the Province may not in any event hold back under this Section:

Holdbacks. If the Contractor fails to deliver a workplan and schedule in accordance with Section 8.3 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 (without duplication) from any amounts thereafter becoming payable to the Contractor under this Agreement an aggregate amount (the “Holdback”) that the Province, acting reasonably and following consultation with the Contractor and having regard to the amounts of the O&M M&R Payments remaining to be made during the remainder of the Term, considers sufficient to achieve the Handback Requirements at the end of the Term in the event that the Contractor were to fail to do so. Notwithstanding the foregoing, the Province may not in any event hold back under this Section: