Acknowledgement by Project Co. (a) Project Co acknowledges and agrees with Contracting Authority that Contracting Authority is not responsible for the payment of any base progress payments pursuant to the Design and Construction Contract nor any legislative holdbacks in respect thereof.
Acknowledgement by Project Co. (a) Project Co acknowledges and agrees with Owner that, subject to the provisions of Section 8.3 of the Lender’s Direct Agreement, Owner is not responsible for the payment of any Base Progress Payments nor any Legislative Holdbacks in respect thereof, except to the extent deducted from any Interim Reimbursement Payment Amount and Owner Final Reimbursement Payment.
Acknowledgement by Project Co. (a) Project Co acknowledges and agrees with Owner that, subject to the provisions of Section
Acknowledgement by Project Co. (a) Project Co acknowledges and agrees with the College that the College is not responsible for the payment of any base progress payments pursuant to the Design and Construction Contract nor any legislative holdbacks in respect thereof.
Acknowledgement by Project Co. (a) Project Co acknowledges and agrees with the CTC that the CTC is not responsible for the payment of any base progress payments pursuant to the Design and Construction Contract nor any legislative holdbacks in respect thereof.
Acknowledgement by Project Co. (a) Project Co acknowledges and agrees with HMQ that, subject to the provisions of Section 8.3 of the Lenders’ Direct Agreement, HMQ is not responsible for the payment of any Base Progress Payments nor any Legislative Holdbacks in respect thereof, except to the extent deducted from any Substantial Completion Payment.
Acknowledgement by Project Co. (a) Project Co acknowledges and agrees with SMH that SMH is not responsible for the payment of any base progress payments pursuant to the Design and Construction Contract nor any legislative holdbacks in respect thereof.
Acknowledgement by Project Co. (a) Project Co acknowledges and agrees with CHH that, subject to the provisions of Section 8.3 of the Lender’s Direct Agreement, CHH is not responsible for the payment of any Base Progress Payments or any Legislative Holdbacks in respect thereof. In the event CHH makes any Base Progress Payments, CHH shall set-off such Base Progress Payments against amounts otherwise payable by CHH hereunder, including the Substantial Completion Payment, payments with respect to Certified Cost to Complete or otherwise.
Acknowledgement by Project Co. (a) Project Co acknowledges and agrees with CMH that, subject to the provisions of Section 8.3 of the Lender’s Direct Agreement, CMH is not responsible for the payment of any Base Progress Payments or any Legislative Holdbacks in respect thereof. In the event CMH makes any Base Progress Payments, CMH shall set-off such Base Progress Payments against amounts otherwise payable by CMH hereunder, including the Interim Completion Payment, the Substantial Completion Payment, payments with respect to Certified Cost to Complete or otherwise.
Acknowledgement by Project Co. (a) Project Co acknowledges and agrees with STEGH that, subject to the provisions of Section 8.3 of the Lender’s Direct Agreement, STEGH is not responsible for the payment of any Base Progress Payments or any Legislative Holdbacks in respect thereof. In the event STEGH makes any Base Progress Payments, STEGH shall set-off such Base Progress Payments against amounts otherwise payable by STEGH hereunder, including the Substantial Completion Payment, payments with respect to Certified Cost to Complete or otherwise.
