Guaranteed Final Acceptance Date definition
Examples of Guaranteed Final Acceptance Date in a sentence
Contractor guarantees that (i) at least one of Provisional Acceptance, Interim Acceptance or Final Acceptance of the Facility shall be achieved on or before the Guaranteed Provisional Acceptance Date; and (ii) Final Acceptance of the Facility shall be achieved on or before the Guaranteed Final Acceptance Date.
Concessionaire may withhold from the Final Payment the sum of (x) one hundred fifty percent (150%) of the amount reasonably estimated by Concessionaire to cover the costs of causing the DB Project to reach Final Acceptance if not achieved by the Guaranteed Final Acceptance Date, plus (y) the unpaid amount of all Subcontracts for which a final release and waiver has not been obtained or for which Contractor has not provided a satisfactory payment bond to protect the Project and Concessionaire.
In addition, during the DB Work Period, extensions of milestones and/or activities identified on the Project Schedule for CA Delay Events affecting the DB Work will be made based on Time Impact Analysis, using the then current Project Schedule and taking into account impacts of the CA Delay Events on Critical Path items, in accordance with the Technical Requirements, and will extend the Guaranteed Substantial Completion Date, the Guaranteed Final Acceptance Date and the Long Stop Date.
The items on Concessionaire’s Punch List shall be completed by Contractor within sixty (60) days after the Guaranteed Final Acceptance Date, and Concessionaire may draw on the Letter of Credit and use the proceeds of such drawing to provide for the prompt completion of the items remaining on Concessionaire’s Punch List after such sixty (60)-day period.
All changes to the Guaranteed Substantial Completion Date, the Guaranteed Final Acceptance Date or the Long Stop Date and conforming changes to the Project Schedule shall be reflected in a Scope Change Order entered into pursuant to Section 12.1.
Subject only to the adjustments permitted in accordance with this Agreement, Contractor guarantees that Substantial Completion will be achieved on or before the Guaranteed Substantial Completion Date and that Final Acceptance will be achieved on or before the Guaranteed Final Acceptance Date.
Late Completion Payments shall be paid by Contractor or withheld by Concessionaire, as applicable, in arrears at the payment intervals applicable to Scheduled Payments beginning after the Guaranteed Substantial Completion Date or the Guaranteed Final Acceptance Date, as applicable, with the last such payment to occur on the date on which Substantial Completion or Final Acceptance, as applicable, actually occurs.
The change to the Critical Path Schedule to accommodate the change in Guaranteed Delivery of Power Date and Guaranteed Final Acceptance Date caused by a delay in Regulatory Approval contemplated by this Section 11.1.3 shall be made through a Change Order issued in accordance with Section 6.1.
Utilizing the critical path method, Contractor shall be aware of factors that are delaying or that could delay the Work beyond the Guaranteed Commercial Delivery of Power Date or the Guaranteed Final Acceptance Date (as applicable)and shall take remedial actions reasonably within its control to eliminate or minimize schedule delays including, without limitation, over‑time for the employees of Contractor and Subcontractors and the assignment of additional personnel and/or other resources.
Contractor guarantees that: (i) the earlier to occur of Provisional Acceptance and Final Acceptance of the Facility shall be achieved on or before the Guaranteed Provisional Acceptance Date; and (ii) Final Acceptance of the Facility shall be achieved on or before the Guaranteed Final Acceptance Date.