Retainage Amounts definition

Retainage Amounts means, at any given time, amounts that have accrued and are owing under the terms of a Construction Contract for work, materials or services already provided but which at such time (in accordance with the terms of the Construction Contract) are being withheld from payment to the Contractor thereunder until certain subsequent events (e.g., completion benchmarks) have been achieved.

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Retainage Amounts means, at any given time, amounts which have accrued and are owing to a contractor under the terms of a construction document for work or services already provided but which at such time (and in accordance with the terms of such construction document) are being withheld from payment to the contractor, until certain subsequent events (e.g. completion benchmarks) have been achieved under the construction document;

Examples of Retainage Amounts in a sentence

Fail to withhold a sum equal to one hundred and fifty percent (150%) of the costs reasonably estimated by the Company (and confirmed by the Construction Consultant) as necessary to complete "Punch List Items" (as defined in the Prime Construction Contract) as Retainage Amounts pursuant to Section 5.7 of the Prime Construction Contract unless such retention is not permitted under applicable laws.
The Retainage Amounts will be identified as such in Schedule 5.10.
Reduce the level of Retainage Amounts withheld pursuant to Section 5.6 of the Prime Construction Contract.
Reduce the level of Retainage Amounts withheld pursuant to Section 5.6 of the Phase I Primary Construction Contract.
Notwithstanding anything contained herein to the contrary, the Retainage Amounts will be collected in full, without any set-off, within 545 days after the Closing Date.
Reduce the level of Retainage Amounts withheld pursuant to Section 5.6 of the Prime Construction Contract or Section 5.15 hereof.
The total payments by the Company with respect to each line item component described on the Construction Disbursement Budget (plus any Retainage Amounts held for such line item), after giving effect to the requested Advance Disbursement, shall not exceed the amount budgeted on the Construction Disbursement Budget for such line item.
Within ninety (90) days of the Final Completion Date, the Borrower shall instruct the Disbursement Agent, on behalf of the Borrower, to make any mandatory prepayments required pursuant to Section 2.10(e) of the First Lien Credit Agreement (net of any remaining Disputed Amounts or Retainage Amounts).
The Borrower shall withhold as Retainage Amounts from each Contractor Subject to Retainage an amount not less than Required Retainage Amounts.
Reduce the level of Retainage Amounts withheld pursuant to any Construction Document or Section 4.10.

More Definitions of Retainage Amounts

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

Retainage Amounts means, at any given time, amounts that have accrued and are owing under the terms of a Construction Contract for work or services to the Issuer already provided but which at such time (in accordance with the terms of the Construction Contract) are being withheld from payment to the Contractor thereunder until certain subsequent events set forth in such Construction Contract, which amount shall be deposited into the Retainage Account in accordance with Section 4.2.1, PROVIDED, HOWEVER, such Retainage Amounts shall not be less than the amount set forth in such Construction Contract and shall not be released other than in compliance with the terms of such Construction Contract. For purposes of this Agreement, any Retainage Amounts actually deposited in the Retainage Account shall be deemed "paid" when computing the amount of the Project Budget deemed "unpaid" at the time of such determination.

Retainage Amounts means, at any given time, amounts, if any, that have accrued and are owing under the terms of a Construction Contract for work, materials or services already provided but which at such time (in accordance with the terms of the Construction Contract) are being withheld from payment to the Contractor thereunder until certain subsequent events (e.g., completion benchmarks) have been achieved. “Shortfall” means, at any time of determination, the amount by which the sum of the total Remaining Costs plus the Required Contingency exceeds Available Construction Funds. “Soft Costs” means all Project Costs other than Hard Costs. “Substantial Completion” means each of the following conditions has been satisfied:

Retainage Amounts means, at any given time, amounts that would otherwise have accrued and be owing under the terms of a Construction Contract for work, materials or services already provided but which at such time (in accordance with the terms of the Construction Contract or applicable law) are being withheld from payment to the Contractor thereunder on account of defective or incomplete work or until certain subsequent events (e.g., Contractor’s remedying of such failure or Contractor’s achievement of a designated construction milestone or completion benchmark) have been achieved. For the avoidance of doubt, Retainage Amounts shall not be duplicative of Disputed Amounts or the Punchlist Completion Amount.