Lien Holdback Sample Clauses

Lien Holdback. Lien Holdback means the ten percent (10%) holdback retained pursuant to Part IV of the Construction Act.
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Lien Holdback. (a) The Owner shall withhold from each payment with respect to the Fixed Contract Price due to the Contractor during the Project, the Lien Holdback Amount. The Owner may increase the Lien Holdback Amount by the amount of any holdback necessary or desirable as a result of registered Liens or claims for Liens, notice of which may have been received by the Owner.
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Lien Holdback. Payment of all amounts under this Agreement shall also be subject to holdback, if applicable, under the lien legislation and regulations of the applicable province or territory of the location to which the Products or Services are to be delivered. Such holdback, if applicable, will be paid in accordance with the lien legislation and regulations of the applicable province or territory, subject to any other rights of Buyer under this Agreement or at law. Seller shall upon request of the Buyer at any time either prior to final payment and as a condition precedent thereto or subsequent to final payment, deliver to the Buyer statutory declarations and releases in the Buyer’s form confirming there are no claims, hypothecs and liens in relation to the Products or Services, including claims and liens of persons performing any labour and/or furnishing any material hereunder.
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Lien Holdback. That portion, if any, of the Purchase Price required by law to be held back by the Purchaser in respect of potential builders lien claimants (the “Lien Holdback”) will be paid to the Vendor’s Solicitor on the Completion Date. The Lien Holdback will be held by the Vendor’s Solicitor in trust pursuant to the Strata Property Act and the Builders Lien Act, with interest to the benefit of the Vendor, solely in respect of builders lien claims registered in the applicable Land Title Office in connection with work done at the request of the Vendor. The Vendor’s Solicitors are authorized to pay to the Vendor the Lien Holdback plus interest earned less the amount representing builders lien claims filed against the Strata Lot on the 56th day after the earlier of the date construction of the services in the strata plan is completed or the Completion Date (the earlier of which is referred to as the “Substantial Completion Date”). The Purchaser or Purchaser’s Solicitor or notary public is solely responsible to notify the Vendor’s Solicitor of any builders’ lien claims filed against the Strata Lot by 1:00 p.m. the Substantial Completion Date. The Purchaser hereby authorizes the Vendor and the Vendor’s Solicitors to do all things necessary to discharge any liens, including bringing court proceedings in the name of the Purchaser, provided that any such proceedings will be solely at the expense of the Vendor.
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Related to Lien Holdback

  • Holdback In consideration for the Company agreeing to its obligations under this Agreement, each Shareholder agrees in connection with any registration of the Company’s securities (whether or not such Shareholder is participating in such registration) upon the request of the Company and the underwriters managing any underwritten offering of the Company’s securities, not to effect (other than pursuant to such registration) any public sale or distribution of Registrable Securities, including, but not limited to, any sale pursuant to Rule 144 or Rule 144A, or make any short sale of, loan, grant any option for the purchase of, or otherwise dispose of any Registrable Securities, any other equity securities of the Company or any securities convertible into or exchangeable or exercisable for any equity securities of the Company without the prior written consent of the Company or such underwriters, as the case may be, during the Holdback Period, provided that nothing herein will prevent any Shareholder that is a partnership or corporation from making a distribution of Registrable Securities to the partners or shareholders thereof or a transfer to an Affiliate that is otherwise in compliance with applicable securities laws, so long as such distributees agree to be so bound. With respect to such underwritten offering of Registrable Securities covered by a registration pursuant to Sections 2.1 or 2.2, the Company further agrees not to effect (other than pursuant to such registration or pursuant to a Special Registration) any public sale or distribution, or to file any Registration Statement (other than such registration or a Special Registration) covering any, of its equity securities, or any securities convertible into or exchangeable or exercisable for such securities, during the Holdback Period with respect to such underwritten offering, if required by the managing underwriter, provided that notwithstanding anything to the contrary herein, the Company’s obligations under this Section 2.7 shall not apply during any twelve-month period for more than an aggregate of ninety days.

  • No Holdbacks The principal amount of the Mortgage Loan stated on the Mortgage Loan Schedule has been fully disbursed as of the Closing Date and there is no requirement for future advances thereunder (except in those cases where the full amount of the Mortgage Loan has been disbursed but a portion thereof is being held in escrow or reserve accounts pending the satisfaction of certain conditions relating to leasing, repairs, occupancy, performance or other matters with respect to the related Mortgaged Property, the Mortgagor or other considerations determined by the Mortgage Loan Seller to merit such holdback).

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