Retention Monies definition

Retention Monies means any monies retained by the Principal from Progress Payments in accordance with clauses 29.3.1 and 30;
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Retention Monies means the sum of the amount retained in accordance with sub-clause 41.9;
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Retention Monies means the sum of the amount retained in accordance with
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Examples of Retention Monies in a sentence

  • The Contractor may at any time lodge with the Principal an unconditional Bank Guarantee or an undertaking (“the Security”) from an approved financial institution or insurance company for an amount equivalent to the limit of Retention Monies specified in clause 29.3.1, whereupon no deductions for Retention Monies will be made from Progress Payments.

  • Subject to the Contract, the balance of the Retention Monies held by the Principal shall be released to the Contractor within twenty-eight (28) days of the Final Certificate.

  • If the Defects are not remedied to HKPC’s satisfaction, HKPC may employ another contractor or third party to remedy the Defects and HKPC may deduct such expenditure from any Retention Monies.

  • The Retention Monies are to be retained by the Principal for the purpose of ensuring the due and proper performance by the Contractor of all of its obligations under the Contract.

  • Subject to sub-clause 42.3(d), the Retention Monies referred to in Clause 42.2 shall be calculated by applying the Retention Percentage to the amounts to which the Superintending Officer has certified in respect of items listed in Clause 42.1.

  • Refer to Attachment D, Inmate Retention Monies, for information on commonly approved Retention Account disbursements.

  • During the defects liability period the university will pay the Contractor fifty percent (50%) of the Retention Monies.

  • Interest will not be payable by the Principal on any Retention Monies or Security or on the cash proceeds of any Security converted into money pursuant to clause 31.2..

  • Interest will not be payable by the Principal on any Retention Monies or Security or on the cash proceeds of any Security converted into money pursuant to clause 31.2.

  • Any reduction in the Retention Monies under clauses 30.2 or 30.3 shall not operate so as to waive, prejudice, release or discharge any of the conditions of the Contract or any of the obligations imposed on the Contractor by the Contract.


More Definitions of Retention Monies

Retention Monies are monies still payable to the Supplier by the Customer as part of the Price but withheld until certain conditions stated in the contract are met. The retentions will be stated on a contract to contract basis and normally set at a percentage of the Price agreed between the Supplier and the Customer. This can include, but is not limited to cash retentions, a bank guarantee for percentage of successful commissioning and / or percentage of warranty periods noted in the contract.
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Retention Monies means an amount that the Customer may withhold from the total payment due to Vendor Z upon achievement of each Milestone, until completion of the Warranty Period for that Milestone.
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Related to Retention Monies

  • Retention Money means the accumulated retention moneys which the Procuring Entity retains under Sub-Clause

  • Retention Date shall have the meaning set forth in Section 9.01 of this Agreement.

  • Retention Account means, an interest bearing USD account in the name of the Borrowers opened or (as the context may require) to be opened by the Borrowers with the Bank and includes any sub-accounts thereof and any other account designated in writing by the Bank to be the Retention Account for the purposes of this Agreement;

  • Retention Bonus means an incentive bonus provided under

  • Escrow Cash is defined in Section 4.1(a).

  • Earnings Accounts means the bank accounts of each of the Obligors from time to time each of which shall be held with the Agent or any of the Agent’s corresponding banks and to which all the Earnings and any proceeds of the Insurances shall be paid.

  • Retention Period means the time period that the Customer Data is stored within the cloud storage, as specified in the product addenda.

  • Escrow Property means the Escrow Funds and the Certificates delivered to the Escrow Agent as contemplated by Section 1(c) hereof.

  • Retention Amount means, in relation to any Retention Date, such sum as shall be the aggregate of:

  • Client Accounts means accounts of Clients (i) that are Controlled by an Access Person and (ii) in which no Access Person has a substantial proportionate economic interest; provided that, the Client pays a management, advisory or any other similar arms-length fee to the Access Person and the beneficiary of the Client Account is not an Immediate Family member of an Access Person.

  • Requisition Compensation includes all compensation or other moneys payable by reason of any act or event such as is referred to in paragraph (b) of the definition of “Total Loss”;

  • Earnings Account means, in relation to a Ship, an account in the name of the Owner owning that Ship with the Agent in Hamburg designated “[name of relevant Owner]—Earnings Account” or any other account (with that or another office of the Agent) which replaces such account and is designated by the Agent as that Earnings Account for the purposes of this Agreement and, in the plural, means all of them;

  • Indemnity Escrow Account means the escrow account established by the Escrow Agent pursuant to the terms of the Escrow Agreement for purposes of holding the Indemnity Escrow Amount.

  • Escrowed Funds Has the meaning, with respect to any Trust, specified in Section 2.02(b).

  • Client Account means the unique personalised account of the Client consisting of all Completed Transactions, Open Positions and Orders in the Trading Platform, the balance of the Client money and deposit/withdrawal transactions of the Client money.

  • Retention means a system designed to prevent the discharge of a given volume of stormwater runoff into surface waters in the state by complete on-site storage. Examples are systems such as excavated or natural depression storage areas, pervious pavement with subgrade, or above ground storage areas.

  • Severance Benefits means the payment of severance compensation as provided in Section 3.3 herein.

  • Escrow Fund means the escrow fund established pursuant to the Escrow Agreement.

  • Last Accounts means the Accounts of the Target Companies in respect of the financial period ended on the Last Accounts Date;

  • Escrow Amount has the meaning set forth in Section 2.1(c).

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Escrow Deposit has the meaning set forth in Section 2.1.

  • Severance Payments shall have the meaning set forth in Section 6.1 hereof.

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Escrow means any transaction in which any escrow property is delivered with or without transfer of legal or equitable title, or both, and irrespective of whether a debtor-creditor relationship is created, to a person not otherwise having any right, title or interest therein in connection with the sale, transfer, encumbrance or lease of real or personal property, to be delivered or redelivered by that person upon the contingent happening or non-happening of a specified event or performance or nonperformance of a prescribed act, when it is then to be delivered by such person to a grantee, grantor, promisee, promisor, obligee, obligor, bailee or bailor, or any designated agent or employee of any of them. Escrow includes subdivision trusts and account servicing.

  • Escrow Funds means the Advance funds deposited with the Escrow Agent pursuant to this Agreement.