Notice to Proceed definition
Examples of Notice to Proceed in a sentence
Owner shall issue the Notice to Proceed no later than [ten (10)] Days after the Effective Date (the “Outside NTP Date”).
Owner shall issue a Notice to Proceed in writing on or prior to the Outside NTP Date.
At the time of issuance of each Notice to Proceed, Owner will have the rights necessary for Owner to authorize and engage Contractor to construct the applicable Project on the applicable Site.
If Owner has not issued the Notice to Proceed by the Outside NTP Date, then: this Agreement shall terminate and neither Party shall have further liability under this Agreement except that Owner shall pay to Contractor as liquidated damages (and not as a penalty) an amount equal to five percent (5%) of the Contract Price.
Contractor shall perform any portion of the Work contained in a limited Notice to Proceed (each an “LNTP”) executed by the Parties in relation to the Project either before or after execution of this Agreement and prior to issuance of a Notice to Proceed in accordance with the terms of such LNTP.