Common use of LIMITED NOTICES TO PROCEED Clause in Contracts

LIMITED NOTICES TO PROCEED. At any time prior to the date of issuance of the notice to proceed (“Notice to Proceed” or “NTP”), but no later than the earlier of (1) fourteen (14) Days after Owner provides Contractor with written notice of financial close or (2) June 1, 2020, Owner shall issue the first limited notice to proceed (“Limited Notice to Proceed No. 1” or “LNTP No. 1”) in the form of Schedule H-1, which shall authorize and require Contractor to perform a specified portion of the Work set forth therein. Owner may issue additional limited notices to proceed (“LNTP”) in the form of Schedule H-2 prior to the issuance of NTP which, if issued, shall authorize and require Contractor to perform a specified portion of the Work. Each LNTP shall specify the maximum total cost of such specified Work, and Contractor shall be paid for such specified Work pursuant to the terms and conditions of this Agreement, with all such payments credited against the Guaranteed Maximum Price and the first payment to become due hereunder.