Project Substantial Completion Date definition
Examples of Project Substantial Completion Date in a sentence
The CM agrees to complete the construction prior to the Project Substantial Completion Date.
The Project Schedule shall include a scheduled Construction Commencement Date and Project Substantial Completion Date, which dates shall accommodate known or reasonably anticipated geographic, atmospheric and weather conditions.
At the time a Guaranteed Maximum Price (GMP) is established, the Project Substantial Completion Date for completion of the construction may be amended by Owner upon recommendation of Construction Team, if reasonably necessary, which Project Substantial Completion Date shall be subject to Force Majeure.
In the event that the Project Substantial Completion Date occurs prior to expiration of the construction phase period as set forth in the Project Schedule, the entire remaining balance due under the terms of this Subparagraph (2) shall be due and payable on the Punch List Completion Date.
The CM acknowledges that failure to complete the PROJECT prior to the Project Substantial Completion Date will result in substantial damages to the Owner.
CM agrees to cooperate with Owner in any procurement methodology and process which is required by law, and also cooperate with Owner in any such methodology or process desired by Owner (and not otherwise legally required) provided that such cooperation does not result in any extension of the Project Substantial Completion Date established by the Project Schedule.
The Owner hereby represents to the CM that it currently has, and will maintain up through and including the Project Substantial Completion Date, good title to all of the real property constituting the Project Site.
The CM shall be assessed liquidated damages in the amount, (**Liquidated Damages will be established with Phase 2 amendment), per calendar day for each day completion is extended beyond the Project Substantial Completion Date, plus any fines and penalties directly imposed against Owner by any regulatory and/or governmental authority against Owner.
Except as set forth in Section 6.2, Section 9.2 or Section 3.4 of this Agreement or unless otherwise expressly provided by the terms of this Agreement, there shall be no increase in the Contract Price or extension in the Guaranteed Project Substantial Completion Date except as agreed in writing by the Parties or otherwise expressly provided by this Agreement.
After Seller’s compliance with Section 10.2, the Parties shall execute a Change Order to (a) adjust the Critical Path Project Schedule (other than the Guaranteed Project Substantial Completion Date), to account for material delays to the Critical Path Project Schedule resulting from the Excusable Event and/or (b) adjust the Contract Price to account for the material increase in the cost of the performance of the Work resulting from the Excusable Event.