Common use of Retention of Contribution Clause in Contracts

Retention of Contribution. The Province will retain a maximum of 10% of the provincial funding and 5% of the federal funding in respect of each Project (“Holdback”) up until the following conditions have been met: (a) the Recipient has fulfilled all of its obligations under the Agreement for the Project; (b) the Recipient has submitted a Declaration of Project Substantial Completion to the Province; and (c) the Parties have jointly carried out a final reconciliation, as set out in section J.6.1 (Final Reconciliation and Adjustments), and made any adjustments required in the circumstances.

Retention of Contribution. The Province will retain a maximum of 10% of the provincial funding and 5% of the federal funding Maximum Funds in respect of each the Project (“Holdback”) up until the following conditions have been met: (a) the Recipient has fulfilled all of its obligations under the Agreement for the Project;; and (b) the Recipient Province has submitted a Declaration of Project Substantial Completion to the Province; and (c) the Parties have jointly carried out a final the reconciliation, as set out in section J.6.1 (Final Reconciliation and Adjustments), and has made any adjustments required in the circumstances.

Retention of Contribution. The Province will retain a maximum of 1015% of the provincial funding and 5% of the federal funding Maximum Funds in respect of each the Project (“Holdback”) up until the following conditions have been met: (a) the Recipient has fulfilled all of its obligations under the Agreement for the Project;; and (b) the Recipient Province has submitted a Declaration of Project Substantial Completion to the Province; and (c) the Parties have jointly carried out a final the reconciliation, as set out in section J.6.1 A4.10 (Final Reconciliation and Adjustments), and has made any adjustments required in the circumstances.

Retention of Contribution. The Province will retain a maximum of 10% of the provincial funding and 5% of the federal funding in respect of each Project (“Holdback”) up until the following conditions have been met: (a) the Recipient has fulfilled all of its obligations under the Agreement for the Project; (b) the Recipient has submitted a Declaration of Project Substantial Completion to the Province; and (c) the Parties have jointly carried out a final reconciliation, as set out in section J.6.1 (Final Reconciliation and Adjustments), and made any adjustments required in the circumstances.