Punch List. If, at any time after the Project has been Physically Completed, there shall exist any item or items requiring completion or correction, then the Developer agrees to use all reasonable diligence to complete or correct such item or items so that each conforms to the Final Plans. The parties shall make a Punch-List of the items requiring completion or correction (the "Punch List"). Each item on the Punch-List shall be assigned a reasonable value based upon the reasonable cost of completion or correction of the same or such other value as may be required by the Owner's lender ("Punch-List Amount"). The Developer shall give its written undertaking to complete each such item within forty-five (45) days (or such other period of time as is mutually agreed upon by the parties).
Punch List. Upon notification from the Contractor that the Hotel is Substantially Completed and ready for inspection, the Company shall prepare a “punch list” with the assistance of a representative of Buyer and the Franchisor. The Company and the Interest Owners acknowledges that final acceptance of the work on the Hotel shall be made only with the approval of Buyer and the Franchisor. The costs of completing the Punch List Items that are not completed as of the date of Closing, as reasonably estimated by the Interest Owners with the approval of Buyer, such approval not to be unreasonably withheld, plus fifty percent (50%) of such costs, shall be reserved by Buyer from the Purchase Price and shall be disbursed to the Interest Owners only upon Buyer’s reasonable determination that all of the Punch List Items have been satisfactorily completed. The Interest Owners shall correct or complete all Punch List Items, or cause the same to be corrected or completed, at their expense, with all diligence and in any event within sixty (60) days after Substantial Completion of the Hotel.
Punch List. Developer shall notify the Architect when Xxxxxxxxx considers the Work complete. Upon notification, Architect will prepare a list of minor items to be completed or corrected (“Punch List”). Developer and/or its Subcontractors shall proceed promptly to complete and correct items on the Punch List. Failure to include an item on Punch List does not alter the responsibility of Developer to complete all Work in accordance with the Contract Documents.
Punch List. Prior to the Closing, Purchaser agrees to participate in a walk-through of the Unit ("Walk-Through") with Seller's representative in order to compile a list of items the parties mutually agree need correction, which are apparent at the time of inspection ("Walk-Through List"), which Walk-Through List shall be signed by both Purchaser and Seller. If Purchaser fails or refuses to complete the Walk-Through or to sign the Walk-Through List, or to have Purchaser's designee do so on Purchaser's behalf prior to Closing, Seller may either designate a qualified third party, who is not an agent or employee of Seller, to complete the inspection on Purchaser's behalf before the Closing, or, at Purchaser's election, Purchaser may waive, in writing, Purchaser's right to participate in the inspection. Items of uncompleted construction, which do not materially affect occupancy, shall not provide a basis for Purchaser to cancel this Agreement, withhold funds at the Closing, or delay the Closing. Seller will use commercially reasonable efforts to cause its contractors to complete the items on the Walk-Through List at Seller’s expense within the later to occur of sixty (60) working days after preparation of the Walk-Through List or sixty (60) working days after the date of Closing, subject to Force Majeure. Purchaser understands and agrees that paving, exterior cement work, landscaping, final exterior finish and some components of the Project may not be completed when a temporary or conditional certificate of occupancy is issued and that Seller will complete such paving, exterior cement work, landscaping and final exterior finish work as soon as practicable thereafter. Purchaser’s refusal to close this transaction due to the need for reasonable further work (to be noted on the Walk-Through List with respect to the Unit) shall constitute a default by Purchaser under this Agreement.
Punch List. (a) The Project Management Plan shall establish procedures and schedules for preparing a Punch List and completing Punch List work. Such procedures and schedules shall conform to the following provisions.
Punch List is a list of minor repair items, prepared after the issuance of a Certificate of Substantial Completion, by the Inspector and Architect of Work required in order to complete the Contract Documents and ensure compliance with the DSA Approved Plans so the Project may be Closed Out. Issuance of the Retention Payment is dependent upon the proper completion of the Punch List. See Article 13.16 and Article 29.
Punch List. 7.8.2.1 The Facility Management Plan shall establish procedures and schedules for preparing for each Facility Segment a Punch List and completing Punch List work. Such procedures and schedules shall conform to the following provisions.
Punch List. In the event that any documentation or other item described in Article I of this Agreement shall not be delivered to Buyer on or before the respective Closing Date as contemplated by this Agreement (each, an “Undelivered Item”), Buyer and Seller may agree, in their respective sole discretion, that the same shall not be deemed an objection to closing and, in such event, Buyer agrees to give and Seller agrees to accept a written statement setting forth the Undelivered Items that need to be delivered, completed or repaired (the “Punch List”) with no escrow required to be held. Seller shall further provide a written statement setting forth a date acceptable to Buyer by which each of the Punch List items is to be completed. The Punch List and written statement and this paragraph (e) shall survive the Closing. Buyer and Seller agree that the items identified on Exhibit G to this Agreement shall be included on the Punch List and shall be delivered by Seller on or before November 1, 2010.
Punch List. The Contractor shall complete or correct the Work identified on the punch list within the time specified on the Certificate of Substantial Completion or as otherwise directed. If the Contractor fails to satisfactorily complete or correct the punch list items, such failure shall constitute a breach of this Agreement and the Owner shall have the option to invoke any of the remedies provided for under Section 10. The time stated for completion of punch list items shall include final clean-up of the Work site.
Punch List. When Contractor considers the Work or a designated portion of the Work to be substantially complete, Contractor shall prepare and submit to District a comprehensive list of items to be completed or corrected prior to final payment (“Punch List”). The Punch List does not alter Contractor’s responsibility to complete the Work in accordance with the Contract Documents.
