Penalty for delay in completion of the project Sample Clauses

Penalty for delay in completion of the project. As per the concession agreement, Satara-Kagal project was to be completed on 2 August 2004. The Concessionaire, however, obtained provisional completion certificate for the first 86 Km. of the road on 22 October 2005 and for the balance 46.76 Km. on 24 May 2006. The Concessionaire sought extension of time by 18 months but the IC recommended extension for nine months only i.e. up to 2 May 2005. Thus there were delays of 24 weeks and 55 weeks for the first and second sections, respectively (over and above the extension of time recommended by the IC) in obtaining provisional completion certificate. Xxxxx observed that as per the provisions of the concession agreement, the Authority was entitled to levy a penalty of Rs.2.11 crore for the delay in completion of the project. The Authority, however, had not taken any action to recover this amount from the Concessionaire so far (February 2008). The Authority stated that the delay in completion of work was attributable to Government agencies and the total concession period would remain unaltered. The reply was not tenable as the reasons attributed by the Authority for the delay were all the responsibility of the Concessionaire as per the agreement. Further non-alteration of concession period is not relevant to levy of penalty for delay in completion.
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Related to Penalty for delay in completion of the project

  • Upon completion of the Project the Recipient shall make a full and complete accounting to the OPWC of the Eligible Project Cost.

  • Completion of the Project The Contracting Party shall complete the construction, equipping and furnishing of the Improvements in accordance with the Plans and submit to the Board a Certificate of Completion on or before November 1, 2016.

  • At Substantial Completion and Final Completion the Contractor shall provide a certification letter certifying that the Work does not contain asbestos as required by the UTUGCs.

  • COMMENCEMENT AND COMPLETION OF THE PROJECT Section 3.01 The Project

  • Completion of the Work The Contractor must obtain Material Completion as defined in Section 6.1.2 below prior to any occupancy of the Project.

  • Completion of Punch List items 14.4.1 All items in the Punch List shall be completed by the Concessionaire within 90 (ninety) days of the date of issue of the Provisional Certificate and for any delay thereafter, other than for reasons solely attributable to the Authority or due to Force Majeure, the Authority shall be entitled to recover Damages from the Concessionaire to be calculated and paid for each day of delay until all items are completed, at the lower of (a) 0.1% (zero point one per cent) of the Performance Security, and (b) 0.2% (zero point two per cent) of the cost of completing such items as estimated by the Independent Engineer. Subject to payment of such Damages, the Concessionaire shall be entitled to a further period not exceeding 120 (one hundred and twenty) days for completion of the Punch List items. For the avoidance of doubt, it is agreed that if completion of any item is delayed for reasons solely attributable to the Authority or due to Force Majeure, the completion date thereof shall be determined by the Independent Engineer in accordance with Good Industry Practice, and such completion date shall be deemed to be the date of issue of the Provisional Certificate for the purposes of Damages, if any, payable for such item under this Clause 14.4.1.

  • Completion of Concrete Pours and Emergency Work 24.14.1 Except as provided in this sub-clause an employee shall not work or be required to work in the rain.

  • Completion of Project The Borrower shall carry out the Project in accordance with the Technical Description as may be modified from time to time with the approval of the Bank, and complete it by the final date specified therein.

  • Construction Development of the Project The Allottee has seen the proposed layout plan/demarcation-cum-zoning/sanctioned plans, / site plan / building plan, specifications, amenities and facilities, etc. depicted in the advertisement / brochure / agreement / website (as the case may be) regarding the Project where the Said Independent Floor for residential usage along with parking is located and has accepted the floor / site plan, Payment Plan and the specifications, amenities, facilities, etc. [annexed along with this Agreement] which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop the Project in accordance with the bye-laws such as Haryana Building Code, 2017, FAR, density norms, provisions prescribed, approved plans, terms and condition of the license/ allotment as well as registration of RERA, etc. Subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent authorities and shall also strictly abide by the provisions and norms prescribed by the relevant State laws and shall not have an option to make any variation/ alteration/ modification in such plans, other than in the manner provided under the Act and Rules made thereunder or as per approvals/instructions/ guidelines of the competent authorities, and any breach of this term by the Promoter shall constitute a material breach of the Agreement.

  • CONSTRUCTION OF THE PROJECT The Allottee has seen the proposed layout plan, specifications, amenities and facilities of the Apartment/ Plot and accepted the floor plan, payment plan and the specification, amenities and facilities annexed along with this Agreement which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop the Project in accordance with the said layout plans, floor plans and specifications, amenities and facilities. Subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent authorities and shall also strictly abide by the bye-laws, FAR, and density norms and provisions prescribed by the relevant building bye-laws and shall not have an option to make any variation/ alteration/ modification in such plans, other than in the manner provided under the Act, and breach of this term by the Promoter shall constitute a material breach of this Agreement.

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