Common use of Price Reduction to Cover Loss Clause in Contracts

Price Reduction to Cover Loss. The Owner may reduce any Periodic Invoice, or application for Progress Payment, prior to payment to the extent necessary to protect the Owner from loss on account of actions of the Provider including, but not limited to: 10.4.1 Defective or incomplete Work not remedied. 10.4.2 Damage to Work of a separate Contractor. 10.4.3 Persistent failure to carry out the Work in accordance with the Contract Documents. 10.4.4 Reasonable evidence that the Work cannot be completed for the unpaid portion of the Contract Sum.

Price Reduction to Cover Loss. The Owner may reduce any Periodic Invoice, or application for Progress Payment, prior to payment to the extent necessary to protect the Owner from loss on account of actions of the Provider Contractor including, but not limited to: 10.4.1 10.3.3.1 Defective or incomplete Work not remedied. 10.4.2 10.3.3.2 Damage to Work of a separate Contractor. 10.4.3 10.3.3.3 Failure to maintain scheduled progress or reasonable evidence that the Work will not be completed within the Contract Time. 10.3.3.4 Persistent failure to carry out the Work in accordance with the Contract Documents. 10.4.4 Reasonable evidence that the Work cannot be completed for the unpaid portion of the Contract Sum.

Price Reduction to Cover Loss. The Owner may reduce any Periodic Invoice, or application for Progress Payment, prior to payment to the extent necessary to protect the Owner from loss on account of actions of the Provider Contractor including, but not limited to: 10.4.1 10.3.3.1 Defective or incomplete Work not remedied. 10.4.2 10.3.3.2 Damage to Work of a separate Contractor. 10.4.3 Persistent failure to carry out the Work in accordance with the Contract Documents. 10.4.4 Reasonable evidence that the Work cannot be completed for the unpaid portion of the Contract Sum.