Retainage Amount definition

Retainage Amount means the retention amount of $1,231,215.88 per line (for a total of $4,924,863.52) to be paid to Astec by Highland upon Completion pursuant to Schedule 3, Part C of the Contract (captioned "Final Payment for Construction Services").

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Retainage Amount means, at any given time, amounts which have accrued and are owing under the terms of a construction contract for work or services already provided but which at such time (and in accordance with the terms of the construction contract) are being withheld from payment to the contractor, until certain subsequent events (e.g., completion benchmarks) have been achieved under such construction contract, which shall be ten percent (10%) of the costs for all work under a construction contract; provided, that, (i) no amount shall be withheld with regard to any construction contract where the party thereto solely supplies materials to the Property and (ii) no amount withheld shall exceed the amount permitted under NRS 624.609.

Retainage Amount has the meaning set forth in Schedule A below.

Examples of Retainage Amount in a sentence

Once Lender has approved the amount of the proposed payment to the general Contractor and confirmed the current Retainage Amount and Retainage Escrow Account balance, Borrower shall be responsible for delivering the final completed Retainage Deposit Notice to the general Contractor.
Concurrent with the execution of this Agreement, the Seller and Buyers shall execute the Retainage Agreement (the "Retainage Agreement") which includes the terms and conditions pursuant to which Buyers will deposit the Retainage Amount at Closing.
The Retainage Amount shall be paid to Contractor thirty (30) days after the City’s final acceptance of the portion of work for which a separate price is stated in the specifications for the Construction Project.
This provision does not prevent the Contractor from seeking withdrawals of the Retainage Amount in excess of One Thousand Dollars ($1,000), pursuant to the requirements of §18-1-301, MCA.
The Retainage Amount shall be paid to Contractor upon the City’s final approval of the project and agreement that all work required to be performed on the project is complete and satisfactory to the City.

More Definitions of Retainage Amount

Retainage Amount means, at any given time, amounts which have accrued and are owing under the terms of the Design/Build Contract, a Contract or a Subcontract, as the case may be, for work or services already provided but which at such time (and in accordance with the terms of the Design/Build Contract, the Contract or Subcontract, as the case may be) are being withheld from payment to the Design/Builder, a Contractor or a Subcontractor, as the case may be, until certain subsequent events (e.g., completion benchmarks) have been achieved under the Design/Build Contract or relevant Contract or Subcontract.

Retainage Amount shall have the meaning provided in section 2.3(e).

Retainage Amount means any one or more of the Canyons Retainage Amount or the Steamboat Retainage Amount. Sales, Marketing & Other Costs -- means, with respect to any Construction Project, all out-of-pocket costs for such Construction Project incurred by GSRP in connection with selling and marketing of the Quartershare Interests, all general and administrative out-of-pocket costs of GSRP, all interest costs and loan or commitment fees of GSRP relating to such Construction Project, all professional fees of GSRP relating to such Construction Project (including architectural, accounting, engineering and legal fees) and all other out-of-pocket costs incurred by GSRP in connection with the development (for purposes of the avoidance of doubt, "development" shall exclude construction), sale and operation of such Construction Project and the maintenance of the Collateral relating to such Construction Project. Security -- shall have the same meaning as in Section 2(1) of the Securities Act of 1933, as amended.

Retainage Amount means at least 10% of each disbursement from the Rehabilitation Escrow Fund with respect to hard costs until the Repairs are 50% complete and paid for, and thereafter shall mean at least 5% of each disbursement from the Rehabilitation Escrow Fund with respect to hard costs.

Retainage Amount means, except as otherwise agreed to in writing by the Borrower and Funding Lender, an amount equal to a total of 10% of the Project Loan Fund Requisition with respect to hard costs until the Rehabilitation is 50% complete and paid for, and thereafter 5% of each disbursement from the Rehabilitation Escrow Fund with respect to hard costs.

Retainage Amount means the final contract price payment under any Facility Agreement payable after substantial in accordance with the provisions of such Facility Agreement..

Retainage Amount means, except as otherwise agreed to in writing by the Borrower and Lender, an amount equal to a total of 10% of the Repair Disbursement Request with respect to hard costs until the Repairs are 50% complete and paid for, and thereafter 5% of each disbursement from the Repair Reserve Fund with respect to hard costs.