Construction Security Deposit definition

Construction Security Deposit. A commercial instrument provided by the Company pursuant to Clause 9.4.7(a) for remedying any liability, obligation or responsibility arising during construction and Commissioning of the Facility.
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Construction Security Deposit. The meaning ascribed thereto in Clause 9.4.7(a).
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Examples of Construction Security Deposit in a sentence

  • Notwithstanding anything in this Agreement to the contrary, drawing on the Construction Security Deposit shall be the sole and exclusive remedy of JPS for any liability, obligation or responsibility of the Company under this Agreement occurring or arising prior to the Commercial Operations Date.

  • The Construction Security Deposit and any interest accrued thereon may be applied to the payment of liquidated damages or other Damages and accrued interest thereon.

  • The Performance Security shall be valid until the Project Company posts a Construction Security Deposit.

  • The Construction Security Deposit shall consist of one of the following: (i) a cash payment which shall be held in a segregated, interest-bearing account; or (ii) an unconditional and irrevocable direct pay letter of credit issued by a financial institution acceptable to JPS in a form and with substance acceptable to JPS.

  • Upon completion of construction, if reimbursement has not been made, the cost shall be deducted from the Construction Security Deposit.

  • The cost of electricity will be billed to the General Contractor upon completion, the cost of which will either be deducted from General Contractor’s Construction Security Deposit or by direct payment upon demand.General Contractor shall furnish and install a new Digital Electric Socket Meter model S-20, available through Accurate Metering Products & Services.

  • Costs, plus 15%, incurred by the Landlord will be charged to the General Contractor and may be deducted from the Construction Security Deposit.

  • If the OUR determines that the successful Applicant has made any false representation, has failed to comply with the requirements of the RFP, or has breached the provisions of any Project Agreement before the Construction Security Deposit is posted, the OUR shall be entitled to recommend the termination of the Licence and to draw upon the Performance Security Deposit.

  • A standard fee of$250.00 will be billed upon completion of construction, the cost of which will either be deducted from General Contractor’s Construction Security Deposit or by direct payment upon demand.Tenant’s with permitted uses of Salon Services, Food Use, Restaurants, Cleaning Services, Pet Care Salons and other high water consumption uses are required to furnish and install a water sub-meter.

  • Once deficiencies (if any) are remedied, HARC will approve commencement of Construction only upon receipt of Construction Security Deposit payable to Hawkseye Property Owners Association (HPOA).

Related to Construction Security Deposit

  • Security Deposit means the deposit to be held by the owner as security for the due performance of the contractual obligations.

  • Construction project means the same as that term is defined in Section 38-1a-102.

  • Construction and demolition debris means and includes:

  • Construction Contract or “contract” means a written agreement between a contractor and a public agency for the construction, alteration, demolition, or repair of a facility, other than a contract having a dollar value of less than $30,000.00 or a contract that provides for 3 or fewer payments.

  • Construction Contractor means a person who undertakes to or offers to undertake to, or purports to have the capacity to undertake to, or submits a bid to, or does himself or by or through others, construct, alter, repair, add to, subtract from, improve, move, wreck, or demolish any building, highway, road, railroad, excavation, or other structure, project, development, or improvement to real property, or to do any part thereof. "Construction contractor" includes subcontractors, specialty contractors, prime contractors, and any person receiving consideration for the general supervision and/or coordination of such a construction project except for remediation contracting. This definition shall govern without regard to whether or not the construction contractor is acting in fulfillment of a contract.

  • Direct Construction Cost means the sum of the amounts that the Construction Manager actually and necessarily incurs for General Conditions Costs, Cost of the Work and Construction Manager’s Contingency during the Construction Phase as allowed by this Agreement. Direct Construction Cost does not include Pre-Construction Phase Fees or Construction Phase Fees.