Payment and Completion. That the Contractor, in accordance with is Proposal Documents, agrees to subcontract <insert %> of the above Contract Amount (including all alternatives and allowances) to Disabled Veteran Business Enterprises (DVBE).
Payment and Completion. The Contract Sum shall include all items and services necessary for the proper execution and completion of the Work. Based on Contractor’s Application for Payment, Owner shall pay to Contractor as follows: net (30) days after invoice. Invoices shall be submitted monthly for completed in-place quantities – per attached schedule of values. Owner will hold a ten percent (10%) retainage on all invoices until fifty percent (50%) completion, five percent (5%) retainage on all invoices up to and including the date of substantial completion and will a hold two percent (2%) retainage until one (1) year after final completion of the Project (determined by the completion of all punch-list items). The Contract Sum stated in the Agreement, including authorized adjustments, is the total amount payable in accordance with the values stated in the Agreement. Such application shall be supported by such data substantiating the Contractor’s right to payment as Owner may reasonably require and reflecting retainage, as provided herein. Contractor shall guarantee all materials and workmanship to be free from any defects for a period of one year from final acceptance by the Owner. Contractor warrants that title to all Work covered by an Application for Payment will pass to Owner no later than the time of payment. Contractor further warrants that upon submittal of an Application for Payment, all Work for which the Application for Payment is made shall, to the best of the Contractor’s knowledge, information and belief, be free and clear of liens, claims, security interests or other encumbrances adverse to Owner’s interests. No later than upon receipt of payment from Owner, Contractor shall promptly pay each Subcontractor and material supplier on account of such entities’ portion of the Work. Owner shall have no responsibility for payment of money to any Subcontractor or material supplier. Any payment or progress payment, or partial or entire use or occupancy of the project by Owner shall not constitute acceptance of the Work not in accordance with the requirements of the Contract Documents. Substantial completion is that stage in the progress of the Work when the Work or designated portion thereof is sufficiently complete in accordance with the Contract Documents so that Owner can occupy or utilize the Work for its intended use. When the Work or designated portion thereof is substantially complete, Owner shall issue a Certificate of Substantial Completion and Contractor and Owner s...
Payment and Completion. 6.11.1 The District reserves the right to occupy all or any part of the Project prior to completion of the Work, upon written notice. In this event, the Design/Builder shall be relieved of responsibility to the District for injury or damage that results from occupancy and use by the District. If, by reason of the District’s occupancy, the premium for the Design/Builder’s bodily injury and property damage insurance is increased, the Xxxxxx Community College District will reimburse the Design/Builder for the additional amount necessarily incurred allocable to the area and the period of District’s occupancy up to the date of Final Completion.
6.11.2 The District’s occupancy does not constitute acceptance by the District of the Work, or any portion of the Work, nor will it relieve the Design/Builder of responsibility for correcting defective Work or materials found at any time before Final Completion, as set forth in Paragraph 3.18, Guarantee, or during the guarantee period after District’s acceptance, as set forth in Subparagraph 6.11.6, Final Payment. However, when the Project includes separate buildings, and one or more of the buildings is entirely occupied by the District, then upon written request by the Design/Builder and by written consent from the District, the guarantee period will commence to run for a building or buildings from the date of the District’s Beneficial Occupancy of a building or buildings.
Payment and Completion. Add the following to 8.01
Payment and Completion. That the CM, in accordance with its Bid Proposal documents, agrees to subcontract <insert %> of the above Contract amount (including all alternatives, allowances and change orders) to Disabled Veteran Business Enterprises (DVBE).
Payment and Completion. Purchase Consideration 1
Payment and Completion. The consideration under the Jinse Jiangnan Agreement will be funded by internal resources of the Company and shall be payable in cash within ten days of the date of the Jinse Jiangnan Agreement. Completion of the Jinse Jiangnan Agreement shall take place on the same day upon payment of consideration. November 18, 2019
Payment and Completion. 6.1 SOA shall pay Contractor in the manner set forth in the Contract Documents. Failure to do so may result in work stoppage and/or interest charges on monies past due. In the event of default in payment of any amounts due under the Contract Documents, Contractor shall be entitled to stop work and pursue all remedies, including legal action. Failure of SOA to timely remit any payment due hereunder shall entitle Contractor to stop work on the project and pursue all remedies, including legal action. In the event that legal action is taken, the prevailing party shall be entitled to recover attorney’s fees and costs of the litigation.
6.2 Unless otherwise agreed in writing, Contractor shall submit monthly progress xxxxxxxx to SOA based upon the Schedule of Values (to be submitted with each monthly invoice) which may from time to time be amended by the written consent of SOA and Contractor, and if applicable, the architect or engineer. The invoices shall be submitted on the 25th day of each month and payment shall be made by SOA no later than the 10th of the following month. Any invoice unpaid by SOA after the 10th of the month shall bear interest at the lesser of 12% per annum or the maximum amount permitted by law.
6.3 When Contractor submits progress xxxxxxxx, SOA's Representative shall, within five (5) business days, inspect the project to determine that the requested percentage has been acceptably completed. If approved, the progress draw shall be passed on to SOA for payment. If not approved, Contractor shall be advised of additions or corrections required for approval in writing within 15 days of the date the applicable progress billing was submitted. If approved, or if no written notice of additions or corrections is provided within the 15-day period, SOA shall immediately pay Contractor the amount of the progress draw, less the applicable retainage set forth below.
6.4 SOA shall notify Contractor in writing within 15 days of receipt of the invoice of any bonafide dispute as to the amounts due under the pay request invoice and shall specify the reasons for such dispute. SOA shall not be entitled to withhold payment of any undisputed amounts. Failure by SOA to submit such written dispute within the required time shall constitute a waiver of such dispute and payment shall be due according to the terms stated herein.
6.5 A retainage of 10% until 50% of the Project is completed and then a retainage of 5% until final completion is to be withheld by SOA from ...
Payment and Completion. 4.1 Completion shall take place immediately after the execution of this agreement:
(a) at the offices of the Joint Liquidators' Solicitors; or
(b) at such other place as the Joint Liquidators may direct.
4.2 At Completion, the Buyer shall:
(a) pay the Purchase Price, together with VAT (if applicable);
(b) execute all documents delivered by the Seller that require execution by the Buyer;
(c) make such arrangements as it sees fit for collecting any of the Assets;
(d) deliver to the Seller a certified copy of the resolution adopted by the board of directors of the Buyer authorising the execution and delivery by the officers specified in the resolution of this agreement, and any other documents referred to in this agreement as being required to be delivered by it.
4.3 At Completion, subject to the Buyer having complied with clause 4.2, the Seller shall deliver, or procure delivery to the Buyer or make available to the Buyer:
(a) duly executed assignments in the agreed form of those Applicable Intellectual Property Rights that may be assigned by the Seller without the consent of any third party; and
(b) a VAT invoice for any VAT payable on the sale of the Assets (if applicable).
4.4 Without limitation of any other provision of this agreement, from Completion, the Buyer shall do all things necessary to ensure compliance with all legal requirements as to possession, ownership or use of any of the Assets, including obtaining all necessary licences, consents, certificates, permits and other authorisations.
4.5 The Buyer shall fully indemnify the Seller and the Joint Liquidators from and against all claims and losses that may be brought against or incurred by the Seller or the Joint Liquidators in respect of the Buyer's failure to comply with clause 4.4.
