Builders Lien Act Sample Clauses
The Builders Lien Act clause establishes the rights and procedures related to liens that contractors, subcontractors, and suppliers may place on a property to secure payment for work or materials provided. In practice, this clause outlines how and when a lien can be registered, the obligations of the property owner, and the steps required to resolve or discharge a lien, such as holding back a portion of payment until all claims are settled. Its core function is to protect those who contribute to a construction project by providing a legal mechanism to ensure they are paid, thereby reducing the risk of non-payment and disputes over compensation.
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Builders Lien Act. (a) The Parties acknowledge that Section 4.9 [Encumbrances] shall apply to claims for liens made against the Lands pursuant to the BLA and shall also apply to claims made against the City or the holdback under the BLA as though such a claim were an Encumbrance against the Lands as referred to therein. For clarity and without limiting the generality of the foregoing, Project Co shall promptly pay all proper accounts for work done or materials furnished under all contracts it enters into relating to the Project Work, subject to payment of those sums required to be retained under, and paid in accordance with, the provisions of Applicable Law, including the BLA, to the extent applicable to the Project Work and the Lands and Project Co shall not, by any act or omission, cause, encourage, suffer or allow any lien or claim under any Applicable Law or in equity to be made against the City or filed or registered against the Lands, the Existing Infrastructure or the Infrastructure by reason of work, services or materials supplied or claimed to have been supplied to Project Co or anyone claiming through or under Project Co. Project Co shall, at its own expense, promptly take all steps required to effect a discharge of any lien so filed or registered
(b) Project Co shall withhold from each Project Contractor the holdbacks required under the BLA and shall deal with such holdbacks in accordance with the BLA.
(c) Project Co shall require all Subcontracts to include an obligation to withhold the holdbacks required under the BLA and to deal with such holdbacks in accordance with the BLA.
(d) Project Co shall, as a condition of final payment under any Project Contract for which lien rights or rights in respect of the holdback may be claimed under the BLA, require that a certificate of substantial performance under section 19 of the BLA for such Project Contract be issued and the relevant Project Contractor provide statutory declarations or other assurances confirming that all those engaged by the Project Contractor have been paid in accordance with Applicable Law.
(e) Project Co shall follow the requirements of the BLA and Good Industry Practice for posting and advertising certificates of substantial performance and completion when issued.
(f) Project Co shall promptly provide the City with a copy of any materials which are provided to the Senior Lenders to evidence compliance with the BLA.
(g) Upon request by the City, Project Co shall perform and deliver to the City a sub...
Builders Lien Act. If the Services to be performed under this Contract are subject to the holdback requirements set out in the Builders Lien Act (British Columbia) (the “Lien Act”), the City will withhold and discharge the required holdback amounts in accordance with the requirements set out in the Lien Act.
Builders Lien Act. Where the Builders Lien Act applies to Work, the Recipient will or will cause its agents, employees, Subcontractors and others with whom it enters into agreements concerning the Work, to comply with the terms of the Builders Lien Act.
Builders Lien Act. Builders Lien Act means the Builders Lien Act, S.B.C. 1997, c.45, as amended, and all regulations thereto, and any successor legislation in the Province of British Columbia in relation to builders liens.
Builders Lien Act. The Landlord has filed a notice of interest in the land title office pursuant to Subsection 3(b) of the Builders Lien Act stating that the Landlord is giving notice that it will not be responsible for any improvements done to the Lands and Premises or improvements thereon, unless the improvements are undertaken at the express request of the Landlord.
Builders Lien Act. The tenant covenants not to suffer or permit during the Term any builder’s lien or other charge or encumbrance to be registered or form a charge against the Land or Building and in the event of such a builder’s lien, charge or encumbrance, the Tenant will, at its sole cost, forthwith obtain a discharge thereof by payment or by giving of security or by taking of such proceeding as may be required or permitted under the Builder’s Lien Act or other law.
Builders Lien Act. 5.1.1 Notwithstanding any other provision contained in this Contract, the Owner shall deduct and withhold from each payment otherwise due to the Contractor ten percent (10%) of each payment, or such other amount as may be required by the Builders Lien Act (the “Owner’s Holdback”). The Contractor agrees not to advance more than 90% of each progress draw for its Subcontractors, excluding Suppliers and consultants
5.1.2 The Owner shall establish, where required by the Builders Lien Act, a holdback account (the “Holdback Account”) with respect to the Contract at a savings institution selected by the Owner in its sole discretion (the “Savings Institution”). By written notice to the Contractor and to the Savings Institution, the Owner may add to or delete names from the list of its authorized signatories for the Holdback Account. The Holdback Account shall be: .1 an account in the name of the Owner only; .2 identified as a trust account; .3 an interest bearing savings account; and .4 non-accessible by automatic teller machine.
Builders Lien Act. If the Services to be performed under this Contract are subject to the holdback requirements set out in the Builders Lien Act (British Columbia) (the “Lien Act”), VEC will withhold and discharge the required holdback amounts in accordance with the requirements set out in the Lien Act.
Builders Lien Act