Punch List Holdback definition

Punch List Holdback has the meaning set forth in Section 9.4.

Punch List Holdback means an amount equal to one hundred fifty percent (150%) of the aggregate value of the Punch List Items as of Substantial Completion.

Punch List Holdback means any amount that may be necessary, in the reasonable opinion of Purchaser, to satisfactorily complete or correct the Punch List Work.

Examples of Punch List Holdback in a sentence

• Upon completion of a Seller Punch List Item, Purchaser shall release the corresponding portion of the Punch List Holdback to Seller within five (5) Business Days.

• As Final Punch List items are completed, the Punch List Holdback Amount shall be reduced to an amount equal to two hundred percent (200%) of the aggregate estimated cost of completing the then-remaining Final Punch List items.

• In accordance with Section 20.3(b), within twenty (20) Business Days after the Substantial Completion Date, PacifiCorp shall pay to Developer the result of subtracting the Punch List Holdback Amount from the Retainage, if a positive dollar value.

• PacifiCorp shall pay, within twenty (20) Business Days of the reduction of such Punch List Holdback Amount, the amount of the Retainage in excess of such adjusted Punch List Holdback Amount then held by PacifiCorp.

• Upon Owner making such election, Contractor shall forfeit any return of such portion of the Punch List Holdback and Contractor’s obligation to perform such Punch List Item shall be deemed satisfied.

More Definitions of Punch List Holdback

Punch List Holdback shall have the meaning assigned thereto in Section 3.3(j) below.

Punch List Holdback means an amount equal to *** of the Punch List Amount for each Punch List Item.

Punch List Holdback has the meaning set out in Section 7.6(g).

Punch List Holdback means an amount equal to

Punch List Holdback shall have the meaning assigned thereto in Section 3.3(j) below. “Punch List Holdback Agreement” shall have the meaning assigned thereto in Section 3.3(j) below. “Punch List Items” shall mean, with respect to any Construction Project, any portion of the Improvements being constructed thereon, which as of the date of the Closing for such Construction Project, are not yet completed in accordance with the Approved Plans and Specifications, which (i) are of a minor, cosmetic nature, and not reasonably anticipated to cost in excess of $20,000 in the aggregate to complete for such Construction Project), and (ii) do not prevent the lawful occupancy and use of the Improvements for their intended purpose. “Purchase Price” shall have the meaning assigned thereto in subsection 2.2(a). “Refusal Notice” shall have the meaning assigned thereto in subsection 3.2(h). 9 “Rents” shall have the meaning assigned thereto in Section 8.2. “Rent Roll” shall mean that certain rent roll dated as of September 6, 2013 attached hereto as Schedule 3.2(b). “Requirements” shall have the meaning assigned thereto in subsection 3.3(g). “Reporting Person” shall have the meaning assigned thereto in subsection 12.2(c). “Second Final Closing” shall mean either (i) the last in time to occur of (a) the Closing of the purchase and sale of the 1160 Xxxxxxx Property or (b) the Closing of the purchase and sale of the Xxxxxx Property, or (ii) the simultaneous Closing of both the 1160 Xxxxxxx Property and the Xxxxxx Property. “Second Final Closing Xxxxxxx Money” shall mean the Allocated Xxxxxxx Money applicable to both the 1160 Xxxxxxx Property and the Xxxxxx Property. “Seller-Related Entities” shall have the meaning assigned thereto in Section 9.2. “Seller” shall have the meaning assigned thereto in the Preamble to this Agreement. “Seller Consultant” shall mean, Criterium Engineers, a construction consultant chosen by Seller, who has previous experience with construction similar to the construction planned for the Properties. “Seller's Knowledge” shall mean, for each Seller, the actual knowledge of one or more of Xxxxx Xxxxx, Xxxx Xxxxx, and Xxxxxxxx Xxxxxx, without any duty of inquiry. “St. Mary's Square Property” shall mean that certain land, as more particularly described on Schedule A-7 attached hereto, together with the buildings and other Improvements thereon. “Survey” shall mean, for each Property, that certain ALTA/ACSM Land Title Survey described on Schedule B. “Tenants” shall mean the tenant...

Punch List Holdback means an amount equal to *** percent (***%) of the Punch List Amount for each Punch List Item. “Punch List Items” means those finishing items with respect to a Block or the Facility, as applicable, that (a) consistent withIndustry Standards does not affect the operability, reliability, safety, or mechanical, civil or electrical integrity of the Block or the Facility, (b) Owner or Contractor identifies as requiring completion or containing defects, and (c) the completion of which will not adversely effect, the performance of the Block or Facility, so long as such Block or Facility is nonetheless ready for commercial operations in a safe and continuous manner and in accordance with Applicable Law and Applicable Permits. *** CONFIDENTIAL MATERIAL REDACTED AND SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION.

Punch List Holdback means an amount equal to *** of the Punch List Amount for each Priority B Item. “PV” means photovoltaic.