Examples of Retrofit Work in a sentence
The Participant shall have Substantially Completed the Retrofit Work on the Building by the date outlined in the Deep Retrofit Design Report attached as Schedule C, The actual date of Substantial Completion will be the date indicated on the signed and submitted Form 2: Statutory Declaration of Substantial Completion by the Participant to the City.
The City will pay the Participant in two separate installments of a maximum forty percent (40%) during the Claim Period of April 1, 2023 to March 31, 2024 and a maximum of forty percent (40%) during the Claim Period April 1, 2024 to March 31, 2025 to cover Eligible Costs associated with the Retrofit Work outlined under the Deep Retrofit Design Report (the "Retrofit Incentive").
The Participant shall begin the Retrofit Work to be completed for the Deep Retrofit Project within one hundred and twenty (120) calendar days or such other period the City may allow in writing of the City's acceptance of the Deep Retrofit Design Report, in the form of a Deep Retrofit Design Acceptance Letter set out in Schedule K (Forms).
The calculation of the final percentage amount to be paid will be based on the final measured emissions reduction resulting from the Retrofit Work on the Building the Participant, as further described under Schedule E (Claims and Incentives) & Schedule F (Performance Incentive Emissions Performance Limit).
The Participant agrees that it has no rights to any Credits or the proceeds thereof as a result of the Retrofit Work under the Deep Retrofit Project in accordance with the terms of this Agreement.
The City will pay the Participant a maximum of ten percent (10%) of the Incentive Limit, with the final percentage amount of the Incentive being dependent on the final measured emission reduction resulting from the Retrofit Work, during the Claim Period of April 1, 2025 to March 31, 2026 to cover Eligible Costs associated with the Retrofit Work outlined under the Deep Retrofit Design Report (the "Performance Incentive").
The Participant shall have completed all of the Retrofit Work on the Building, as outlined under the Deep Retrofit Design Report, by January 31, 2025, unless this date is extended pursuant to this Agreement.
In the event the Participant fails to commence the Retrofit Work as per the timeline outlined above, and without Written Notice requesting an extension and demonstrating a new timeline for the commencement of the Retrofit Work acceptable to the City, the City may terminate this Agreement immediately pursuant to Section 33 (Event of Default).