Common use of Owner’s Right to Reduce Retainage Clause in Contracts

Owner’s Right to Reduce Retainage. The Owner may release at any point all, or any portion of any retainage withheld which is attributable to the labor, services, or materials supplied by the Construction Manager or by one or more subcontractors or suppliers. If the Owner’s retainage payment under this subsection is attributable to the labor, services, or materials supplied by one or more subcontractors or suppliers the Construction Manager shall timely remit payment of such retainage to those subcontractors and suppliers.

Owner’s Right to Reduce Retainage. The Owner may release at any point all, or any portion of any retainage withheld which is attributable to the labor, services, or materials supplied by the Construction Manager Design Builder or by one or more subcontractors or suppliers. If the Owner’s retainage payment under this subsection is attributable to the labor, services, or materials supplied by one or more subcontractors or suppliers the Construction Manager Design Builder shall timely remit payment of such retainage to those subcontractors and suppliers.