Common use of Reinstatement of Retainage Clause in Contracts

Reinstatement of Retainage. The Owner will withhold no further retainage from payments to the Contractor unless one or more of the following events occur: (a) The percentage of work complete falls behind the percentage required by the Overall Project Schedule by as much as five percent; or (b) The Contractor breaches a Notice of Non-Compliant Work; or (c) The Contractor becomes delinquent in regard to the filing of the final breakdown and accounting pursuant to any Change Orders utilizing a Force Account; or (d) The Contractor commits any breach of the contract. In which event or events the Owner shall reinstate the ten percent retainage on all Applications for Payment due to be paid while one or more of the events continues to exist. The Contractor will be given written notice of the reinstatement of the retainage.

Reinstatement of Retainage. The Owner will withhold no further retainage from payments to the Contractor Design-Builder unless one or more of the following events occur: (a) The percentage of work complete falls behind the percentage required by the Overall Project Schedule by as much as five percent; or (b) The Contractor Design-Builder breaches a Notice of Non-Compliant Work; or (c) The Contractor Design-Builder becomes delinquent in regard to the filing of the final breakdown and accounting pursuant to any Change Orders utilizing a Force Account; or (d) The Contractor commits any breach of the contract. In in which event or events the Owner shall reinstate the ten percent retainage on all Applications for Payment due to be paid while one or more of the events continues to exist. The Contractor Design-Builder will be given written notice of the reinstatement of the retainage.

Reinstatement of Retainage. The Owner will withhold no further retainage from payments to the Contractor unless one or more of the following events occur: (a) The percentage of work complete falls behind the percentage required by the Overall Project Schedule by as much as five percent; or (b) The Contractor breaches a Notice of Non-Compliant Work; or (c) The Contractor becomes delinquent in regard to the filing of the final breakdown and accounting pursuant to any Change Orders utilizing a Force Account; or (d) The Contractor commits any breach of the contract. In in which event or events the Owner shall reinstate the ten percent retainage on all Applications for Payment due to be paid while one or more of the events continues to exist. The Contractor will be given written notice of the reinstatement of the retainage.