Holdback Monies definition

Holdback Monies or "Holdback" means such percentage of the progress payment payable to the Contractor as CMHC may determine.
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Examples of Holdback Monies in a sentence

  • For consumers, the rise was 33% and was up 20% on the previous quarter.

  • When the DCR finds that the Contractor's claim for total performance of the Work is valid, the DCR shall issue confirmation that the total performance of the Work is valid - and certify for payment the remaining monies due to the Contractor under the Contract, less Holdback Monies which are required to be retained.

  • Charges will only apply for each subsequent service date change request after calendar day 31, not to exceed 120 calendar days.

  • Applications for release of Holdback Monies following substantial performance of the Work and the application for final payment shall be made at the time and in the manner set forth in subsection 3.

  • Prior to issuing the final payment of Holdback Monies statement , the DCR may, in addition to the matters described in the interim payment Holdback Monies statement, require the Contractor to rectify any other portions of the Work not completed to the satisfaction of the DCR and to do any other things necessary for the completion of the Work.

  • The acceptance by the Contractor of the final payment of Holdback Monies statement or of the payment due thereunder shall constitute a waiver of all claims against CMHC under this Contract except those made in writing prior to the Contractor's application for payment upon total performance of the Work and still unsettled.

  • Where legislation permits and where, upon application by the Contractor, the DCR has certified that the work of a subcontractor has been totally performed to CMHC’s satisfaction prior to the substantial performance of the Work, CMHC shall pay the Contractor the Holdback Monies retained for such subcontractor on the day following the expiration of the holdback period for such subcontractor stipulated by CMHC, and the DCR shall issue an interim payment of Holdback Monies statement.

  • Immediately following the issuance of the Certificate of Substantial Performance of the Work the Consultant will issue a Certificate for Payment of Holdback Monies.

  • If any work was held over to the following construction season (as per General Requirements No. 2.28, Release of Holdback Monies), the Certificate of Final Acceptance shall be held until the twelve (12) month warranty period is completed on that section of the works that was held over.

Related to Holdback Monies

  • Holdback Amount has the meaning set forth in Section 2.06(a).

  • Holdback has the meaning set forth in Section 4.1(d)(i).

  • Escrow Cash is defined in Section 4.1(a).

  • Escrow Amount has the meaning set forth in Section 2.1(c).

  • Escrow Fund means the escrow fund established pursuant to the Escrow Agreement.

  • Escrow Funds means the Advance funds deposited with the Escrow Agent pursuant to this Agreement.

  • Escrow Deposit has the meaning set forth in Section 3.3.

  • Indemnity Escrow Amount means $5,000,000.

  • Indemnity Escrow Fund means the Indemnity Escrow Amount deposited with the Escrow Agent, as such sum may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.

  • Indemnity Escrow Account has the meaning set forth in Section 2.3(c).

  • Holdback Shares has the meaning set forth in Section 2.5(b)(v).

  • Indemnification Escrow Amount has the meaning set forth in Section 2.2(b).

  • Escrowed Funds Has the meaning, with respect to any Trust, specified in Section 2.02(b).

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Escrow Obligations means (a) Government Obligations, (b) certificates of deposit issued by a bank or trust company which are (1) fully insured by the Federal Deposit Insurance Corporation or similar corporation chartered by the United States or (2) secured by a pledge of any Government Obligations having an aggregate market value, exclusive of accrued interest, equal at least to the principal amount of the certificates so secured, which security is held in a custody account by a custodian satisfactory to the Registrar or the Registrar, as the case may be, or (c)(1) evidences of a direct ownership in future interest or principal on Government Obligations, which Government Obligations are held in a custody account by a custodian satisfactory to the Registrar pursuant to the terms of a custody agreement in form and substance acceptable to the Registrar and (2) obligations issued by any state of the United States or any political subdivision, public instrumentality or public authority of any state, which obligations are fully secured by and payable solely from Government Obligations, which Government Obligations are held pursuant to an agreement in form and substance acceptable to the Registrar and, in any such case, maturing as to principal and interest in such amounts and at such times as will insure the availability of sufficient money to make the payment secured thereby.

  • Indemnification Escrow Fund has the meaning set forth in Section 2.12(a).

  • Working Capital Escrow Amount means $500,000.

  • Escrowed Proceeds shall include any interest earned on the amounts held in escrow.

  • Escrowed Property has the meaning set forth in the Escrow Agreement.

  • Indemnity Escrow Agreement has the meaning set forth in Section 1.5.

  • Escrow Property has the meaning set forth in the Escrow Agreement.

  • Escrow Accounts means any escrow account in which Escrowed Proceeds are deposited and held.

  • Expense Fund has the meaning set forth in Section 10.20(d).

  • Escrow Shares shall be deemed to include the Non-Cash Dividends distributed thereon, if any.

  • Escrowed Shares has the meaning set forth in Section 2.4.

  • Adjustment Escrow Funds means, at any time, the portion of the Adjustment Escrow Amount then remaining in the Adjustment Escrow Account.