PAYMENTS TO CONTRACTORS. A. Upon presentation of valid invoices, which should be within the first week of each month, the Owner shall make partial payments to the Prime Contractor for construction accomplished during the preceding calendar month on the basis of completed construction certified to by the Prime Contractor and approved by the Owner and Architect/Engineer solely for the purposes of payment. Provided, however, that such approval shall not be deemed approval of the workmanship or materials. Only ninety-five percent (95%) of each payment request approved during the construction of the project shall be paid by the Owner to the Prime Contractor prior to completion of the Project. Upon the approval by the Owner of the Prime Contractor’s "Final Invoice for Payment” showing the total cost of the construction performed, the Owner shall make payment to the Prime Contractor of all amounts to which the Prime Contractor shall be entitled there under which shall not have been paid: Provided, however, that such final payment shall be made not later than ninety (90) days after the date of completion of construction of the Project, as specified in the Final Invoice for Payment, unless withheld because of the fault of the Prime Contractor.
B. The Prime Contractor shall be paid on the basis of the percentage of the work actually completed for each construction item. The total amount paid for periodic xxxxxxxx shall not exceed the maximum Contract price for the construction of the project as set forth in the Contract, unless such excess shall have been approved in writing by the Purchasing Agent as part of a change order.
C. No payment shall be due while the Prime Contractor is in default in respect of any of the provisions of this Contract, and the Owner may withhold from the Prime Contractor the amount of any claim by any third party against either the Prime Contractor or the Owner based upon an alleged failure of the Prime Contractor to perform the work hereunder in accordance with the provisions of this Contract. This includes, without limitation, the alleged failure of the Prime Contractor to make payments to subcontractors.
PAYMENTS TO CONTRACTORS. 7.1 Payments to Contractors will be made in accordance with the procedures, timescales, systems and statutory obligations of the relevant Party as notified by each of the Parties to Cambs HIA and as subsequently advised by Cambs HIA to the contractors and suppliers concerned.
PAYMENTS TO CONTRACTORS. Based on on‐site observations and on review of Contractor’s applications for payment and supporting data, review and authorize the amount owing to Contractor and approve, in writing, payment to Contractor in such amounts. Such approval for payment shall constitute a representation to Owner based on such observations and review that the work has progressed to the point indicated and that to the best of the Architect’s knowledge, information and belief, the quality of the work is in accordance with the contract documents (subject to the evaluation of the work as a functioning Project upon substantial completion, to the results of the subsequent tests called for in the contract documents and to any qualifications stated in the approval). By approving the application for payment, Architect shall not be deemed to have represented that an examination has been made to determine how or for what purposes the Contractor has used the monies paid on account of the contract price.
PAYMENTS TO CONTRACTORS. 8.01 For Services rendered pursuant to Annex A, the Purchaser shall pay the Contractor in accordance with the schedule provided in the SC. The amounts specified in the SC shall include all of the Contractors’ costs and profits as well as any tax obligation that may be imposed on the Contractors in connection with this Contract. In addition to the specifics stated in the SC, the applicable remuneration terms shall apply:
PAYMENTS TO CONTRACTORS a. Progress Payments:
i. Review and recommend for the OWNER's approval, the Contractor's detailed payment breakdown.
ii. Review each Contractor's monthly invoices and recommend payment, no payment, or partial payment.
b. Final Payment:
i. Establish that all close-out procedures have been complied with.
ii. Make recommendations on final payment.
PAYMENTS TO CONTRACTORS. Partial payments will be made as the Work progresses within thirty (30) days after receipt of an acceptable invoice and billing backup,, or at other monthly dates established by the Owner, upon properly prepared Contractor's Application
PAYMENTS TO CONTRACTORS. Triton shall be responsible for making ----------------------- all payments due to contractors and subcontractors selected by Triton to perform services at the Sites. Notwithstanding the foregoing, Triton, at its option, may require Entel to contract directly with all trade contractors and subcontractors for provision of services at the Sites. Should Triton exercise such option, Entel shall be responsible for disbursing funds for payment only to those contractors, subcontractors, material providers, and other service providers engaged by Entel directly. Entel shall present copies of all such invoices relating to construction of the Sites to Triton, and Triton shall then provide Entel reimbursement of such disbursements plus [***] percent ([***]%) within thirty (30) days of Entel's submission of said invoices to Triton.
PAYMENTS TO CONTRACTORS. WFI shall be responsible for making all payments due to contractors and subcontractors selected by, or contracted with, WFI to perform services and to provide materials at the Sites in connection with Services rendered hereunder. TeleCorp may advise WFI in writing that TeleCorp will pay them directly. WFI shall present copies of all such invoices relating to construction of the Sites that WFI has paid to TeleCorp, and TeleCorp shall then provide WFI reimbursement of such disbursements plus [***]% of such disbursements within thirty (30) days of TeleCorp's receipt of said invoices from WFI. Notwithstanding the foregoing, if such disbursements and fees remain unreimbursed to WFI after thirty (30) days of receipt by TeleCorp, the following procedures shall apply:
1. WFI shall notify TeleCorp's Controller in writing that such disbursements and fees are more than thirty (30) days overdue;
2. If such disbursements and fees remain overdue for a total of forty-five (45) days after receipt by TeleCorp, WFI shall notify TeleCorp's Senior Vice President of Finance in writing; and
3. Provided that such outstanding undisputed fees and disbursements -------- are in excess of [***] Dollars ($[***]) and have been outstanding for a period of [***] days after receipt by TeleCorp, then, for the duration of the initial term and any renewal terms of this Agreement, TeleCorp shall reimburse WFI for any and all such disbursements plus [***] percent ([***]%) of such disbursements within thirty (30) days of TeleCorp's receipt of said invoices from WFI. WFI shall furnish evidence satisfactory to TeleCorp that all labor furnished and material consumed by WFI during the invoice period have been paid in full and that the Services are not subject to liens or claims on account thereof. TeleCorp may withhold payment of the invoice until WFI furnishes such evidence. TeleCorp retains the right to directly dispute any material default under any agreement between WFI and any materials or service provider to the extent such agreement authorizes WFI to so dispute, provided that TeleCorp shall provide written notice to WFI of TeleCorp's election to dispute. Upon notice of TeleCorp's election to dispute, WFI shall cease all payments to the disputed services or materials provider until such time as TeleCorp authorizes WFI to resume payment schedule. Nothing in this Section IV.A. shall relieve TeleCorp of its obligations to make reimbursement payments to WFI under this Section IV, provided that Te...
PAYMENTS TO CONTRACTORS. (i) Manager shall implement procedures for the processing and payment of applications for payment by all Contractors out of the Operating Trust Account, consistent with the provisions of Section 3.04 and the payment practices of Owner.
(ii) Applications for payment shall be submitted by Contractors on AIA G702 and G703 forms and submitted to the Project Architect for certification to Owner for payment. Manager shall review all applications for payment submitted by Contractors, submit such applications to Owner and recommend to Owner which such applications shall be disapproved or approved for payment from Owner. Within five (5) Business Days of any such submission, Owner shall approve or disapprove any such application. Each application for payment submitted to Owner for which Manager recommends Owner’s approval shall be accompanied by the items listed in Exhibit F. If Manager recommends that Owner disapprove any application, Manager shall provide Owner with a detailed written explanation of the reasons for such disapproval. Notwithstanding the foregoing, the Project Architect and the Project Interior Designer shall each be paid in accordance with its respective contract with Owner; provided, the contract with the Project Interior Designer may be with the Manager or the Project Architect if approved by Owner.
(iii) Payments to each Contractor shall be made by Manager following the approval of such Contractor’s applications for payment by Owner and the corresponding monthly deposit into the Operating Trust Account.
(iv) The Retainage may be released for a particular Contractor once such Contractor has satisfactorily completed all work and has supplied all materials in accordance with the provisions of such Contractor’s contract; provided that before any Retainage is to be funded, Manager shall have delivered to Owner the completion evidence set forth in Exhibit E for the work or materials for which such Retainage is being released (to the extent applicable), including evidence of payment in full of all sums due such Contractor and if customary in the Las Vegas market, unconditional lien waivers for all sums paid to such Contractor.
PAYMENTS TO CONTRACTORS. The Construction Manager shall develop and implement procedures for the review and processing of applications by subcontractors for progress and final payments. The Construction Manager shall make recommendations to Xxxxxxxx and the Architect for certification to Old National for payment.
