STATUTORY HOLDBACK definition

STATUTORY HOLDBACK means the holdbacks required under the Construction Act.
Sample 1Sample 2Sample 3
STATUTORY HOLDBACK means the amount retained by the County in accordance with the requirements of the Construction Lien Act R.S.O. 1990, Chapter C.30 as amended.
Sample 1Sample 2
STATUTORY HOLDBACK means the amount retained by the Town in accordance with the requirements of the Construction Lien Act R.S.O. 1990, Chapter C.30 as amended.
Sample 1

Examples of STATUTORY HOLDBACK in a sentence

  • The Bank reserves the right to reject any application without assigning any reasons.


More Definitions of STATUTORY HOLDBACK

STATUTORY HOLDBACK means 10% of the value of services or materials supplied to the Project under any contract or subcontract which is required to be withheld from payment pursuant to the Provincial Lien Legislation; and
Sample 1

Related to STATUTORY HOLDBACK

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

  • Holdback has the meaning set forth in Section 4.1(d)(i).

  • Indemnification Escrow Amount has the meaning set forth in Section 2.2(b).

  • Indemnification Escrow Fund has the meaning set forth in Section 2.12(a).

  • Working Capital Escrow Amount means $500,000.

  • Qualified escrow fund means an escrow arrangement with a federally or state-chartered financial institution having no affiliation with any tobacco product manufacturer and having assets of at least one billion dollars where such arrangement requires that such financial institution hold the escrowed funds’ principal for the benefit of releasing parties and prohibits the tobacco product manufacturer placing the funds into escrow from using, accessing, or directing the use of the funds’ principal except as consistent with section 453C.2, subsection 2, paragraph “b”.

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