Penalties for Non-Compliance with Subcontractor Participation Requirements Sample Clauses

Penalties for Non-Compliance with Subcontractor Participation Requirements. With respect to each Improvement (excluding Tenant Improvements and Existing Improvement Renovations) to the extent Master Developer or Retail Developer, as appropriate, fails to comply with the Subcontractor Participation Requirements, with respect to such Improvement, Developer shall pay to the CRA as a one-time penalty for such non-compliance (a) Ten Thousand and No/100 Dollars ($10,000.00) for each percentage point below the Subcontractor Participation Requirement for the first three (3) percentage points below the Subcontractor Participation Requirement, (b) Twenty-Five Thousand and No/100 Dollars ($25,000.00) for each additional percentage point below the first three (3) percentage points below the Subcontractor Participation Requirement for up to three (3) additional percentage points and thereafter (c) Fifty Thousand and No/100 Dollars ($50,000.00) for each additional percentage point below six (6) percentage points below the Subcontractor Participation Requirement (collectively, the “Subcontractor Non-Compliance Funds”) with respect to such Improvement. The Subcontractor Non-Compliance Funds shall be calculated by the Executive Director after Substantial Completion and shall be due and payable within thirty (30) days from the date of Master Developer's or Retail Developer’s, as appropriate, receipt of written statement from the Executive Director stating the amount of Subcontractor Non- Compliance Funds due with respect to such Improvement. To the extent of any dispute between the Executive Director and the Master Developer or the Retail Developer, as appropriate, with respect to the compliance with the Subcontractor Participation Requirements, such dispute shall be submitted to the CRA Board for resolution. The decision of the CRA Board shall be binding on the parties. Any amount of the Subcontractor Non-Compliance Funds not paid when due shall bear interest at 12% per annum from the date due until paid.
Sample 1
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Related to Penalties for Non-Compliance with Subcontractor Participation Requirements

  • Compliance with Nondiscrimination Requirements During the performance of this contract, the Contractor, for itself, its assignees, and successors in interest (hereinafter referred to as the “Contractor”), agrees as follows:

  • Compliance with Requirements Any investment program furnished, and any activities performed, by the Manager or by a Sub-Adviser under this Section shall at all times conform to, and be in accordance with, any requirements imposed by: (1) the Act and any rules or regulations in force thereunder; (2) any other applicable laws, rules and regulations; (3) the Declaration of Trust and By-Laws of the Fund as amended from time to time; (4) any policies and determinations of the Board of Trustees of the Fund; and (5) the fundamental policies of the Fund, as reflected in its Registration Statement under the Act or as amended by the shareholders of the Fund.

  • Compliance with Non-Discrimination Requirements During the performance of this Agreement, Company, for itself, its assignees, successors in interest, subcontractors and consultants agrees as follows:

  • Compliance with Accessibility Standards All parties to this Agreement shall ensure that the plans for and the construction of all projects subject to this Agreement are in compliance with standards issued or approved by the Texas Department of Licensing and Regulation (TDLR) as meeting or consistent with minimum accessibility requirements of the Americans with Disabilities Act (P.L. 101-336) (ADA).

  • Compliance with Rules To comply with, and to require the Contractors to comply with, all rules, regulations, ordinances and laws bearing on the conduct of the work on the Improvements, including the requirements of any insurer issuing coverage on the Project and the requirements of any applicable supervising boards of fire underwriters.

  • Monitoring Compliance with Contract For purposes of monitoring the District’s compliance with this contract, the Department may require the District to provide information or may conduct site visits as needed.

  • Compliance with Privacy Code The parties acknowledge that the Warrant Agent may, in the course of providing services hereunder, collect or receive financial and other personal information about such parties and/or their representatives, as individuals, or about other individuals related to the subject matter hereof, and use such information for the following purposes:

  • Compliance with Procurement Laws This Contract is the result of compliance with applicable procurement laws of the State of Texas. DIR issued a solicitation on the Comptroller of Public Accounts’ Electronic State Business Daily, Request for Offer (RFO) DIR-TSO-TMP-225, on February 27, 2015, for Software, including Software as a Service, Products and Related Services. Upon execution of this Contract, a notice of award for RFO DIR-TSO-TMP-225 shall be posted by DIR on the Electronic State Business Daily.

  • Compliance with Local Laws Any resale of the Securities during the ‘distribution compliance period’ as defined in Rule 902(f) to Regulation S shall only be made in compliance with exemptions from registration afforded by Regulation S. Further, any such sale of the Securities in any jurisdiction outside of the United States will be made in compliance with the securities laws of such jurisdiction. The Investor will not offer to sell or sell the Securities in any jurisdiction unless the Investor obtains all required consents, if any.

  • Compliance with Tax Laws The Trustee hereby agrees to comply with all U.S. Federal income tax information reporting and withholding requirements applicable to it with respect to payments of premium (if any) and interest on the Debt Securities, whether acting as Trustee, Registrar, paying agent or otherwise with respect to the Debt Securities.

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