WITHHOLDING/RETAINAGE Sample Clauses

WITHHOLDING/RETAINAGE. Agency reserves the right to initiate, at any time during the Contract, withholding of payment equal to 5% of the amount of each invoice submitted to Agency under the Contract. Agency will make final payment of any balance due to Contractor promptly upon verification of completion and acceptance of all Services by Agency and will pay interest as required on retainage.
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WITHHOLDING/RETAINAGE. Agency reserves the right to initiate, at any time during the WOC, withholding of payment equal to _5_ percent of the amount of each invoice submitted to Agency under the WOC. Agency will make final payment of any balance due to Consultant promptly upon verification of completion and acceptance of all Services by Agency and will pay interest as required on retainage.
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WITHHOLDING/RETAINAGE. If a contractor or subcontractor unreasonably withholds acceptance of the work or materials or fails to pay retainage as required by this section, the owner, contractor or subcontractor is subject to the interest, penalty and attorney's fees provisions of this chapter. [PL 1993, c. 461, §1 (NEW).] SECTION HISTORY PL 1993, c. 461, §1 (NEW). §1117. Prepayment or advance payment This chapter in no way may be construed to prohibit an owner, contractor or subcontractor from making advance payments, progress payments or from prepaying if agreements or other circumstances make those payments appropriate. All such payments must be made promptly and are subject to the interest, penalty and other provisions of this chapter. [PL 1993, c. 461, §1 (NEW).] SECTION HISTORY PL 1993, c. 461, §1 (NEW).
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WITHHOLDING/RETAINAGE. Withholding/Retainage will be handled according to Section 6.3.
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WITHHOLDING/RETAINAGE. At all times until Substantial Completion of the entire Project, the Parties agree to withhold the amounts stated below against Construction Hard Costs paid or payable by Funding Recipient in connection with the Project (“Retainage”). Accordingly, the Parties agree as follows:
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WITHHOLDING/RETAINAGE. LCOG reserves the right to initiate, at any time during the Contract, withholding of payment equal to 5% of the amount of each invoice submitted to LCOG under the Contract. LCOG will make final payment of any balance due to Consultant promptly upon verification of completion and acceptance of all Services by LCOG and will pay interest as required on retainage.
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Related to WITHHOLDING/RETAINAGE

  • Withholding Payments The State reserves the right to withhold payment of the Engineer's billing statement in the event of any of the following: (1) If a dispute over the work or costs thereof is not resolved within a thirty day period; (2) pending verification of satisfactory work performed; (3) the Engineer becomes a delinquent obligor as set forth in Section 231.006 of the Family Code; (4) required reports are not received; or (5) the State Comptroller of Public Accounts will not issue a warrant to the Engineer. In the event that payment is withheld, the State shall notify the Engineer and give a remedy that would allow the State to release the payment.

  • Withholding Taxes The Company may withhold from any amounts payable under this Agreement such Federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation.

  • Withholding The Company may withhold from any amounts payable under this Agreement such federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation.

  • Withholdings Notwithstanding any other provision in this Article II, the Receiver, upon the direction of the Director (or designee) of the Federal Deposit Insurance Corporation’s Division of Resolutions and Receiverships, may withhold payment for any amounts included in a Monthly Certificate delivered pursuant to Section 2.1, if in its good faith and reasonable judgment there is a reasonable basis under the requirements of this Single Family Shared-Loss Agreement for denying the eligibility of an item for which reimbursement or payment is sought under such Section. In such event, the Receiver shall provide a written notice to the Assuming Institution detailing the grounds for withholding such payment. At such time as the Assuming Institution demonstrates to the satisfaction of the Receiver, in its reasonable judgment, that the grounds for such withholding of payment, or portion of payment, no longer exist or have been cured, then the Receiver shall pay the Assuming Institution the amount withheld which the Receiver determines is eligible for payment, within fifteen (15) Business Days.

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