CMA Agreement definition
Examples of CMA Agreement in a sentence
Such delivery shall occur as per the master schedule delivery date agreed on the Improvements CMA Agreement.
ESTABLISHMENT shall, at the time of the execution of the CMA Agreement deliver to CFZ a Performance Bond equivalent to the amount of Seven Hundred and Fifty Thousand dollars (US$750.000,00) valid until April 30th 2016.
Borrower shall have no right of withdrawal in respect of the Mezzanine Collection Account or any account established under a Substitute CMA Agreement.
To the extent that the Mortgage Loan (or a refinancing thereof) requires that all Rents be deposited directly into a lockbox account controlled by Mortgage Lender (or a refinancing mortgage lender), then the Substitute CMA Agreement shall be entered into for the benefit of the Mortgage Lender and provide that all Rents, after payment of any sums due and payable under the Mortgage Loan (or refinancing loan documents) shall be paid by federal wire transfer or ACH to the Mezzanine Collection Account.
While the CMA may be coordinating the delivery of payments from the Owner to the Contractor or take other action authorized in its CMA Agreement, the Contractor acknowledges that the Construction Manager is not personally liable for any of the Owner’s obligations hereunder and that there is no privity of contract between the CMA and the Contractor.
Borrower hereby irrevocably directs and authorizes Lender to withdraw funds from the Mezzanine Collection Account and any lockbox account established under a Substitute CMA Agreement all in accordance with the terms and conditions of the Mezzanine Cash Management Agreement and the Substitute CMA Agreement and this Agreement.
If the Work is not completed by the Required Completion Dates, then the Contractor shall pay to the Construction Manager (or Owner if there is a CMA Agreement) as liquidated damages (“Liquidated Damages”) for such delay the sum of $1,000 per day for each day after the Required Completion Date that such Work is not completed.
No amendment, modification or change in the Contract Documents, Contract Time or Required Completion Dates shall be effective unless and until a Change Order has been executed by the Construction Manager (CMA must be specifically authorized by the Owner under the CMA Agreement) or Owner and the Contractor.
To facilitate implementation of the CMA Agreement, the member countries have established a commission in which each of them has one representative (along with advisors as needed).
No amendment or modification of this Agreement shall be effective unless it is in writing signed by the Contractor and Owner or Construction Manager if authorized under its CMA Agreement.