Completion Payment and Practical Completion Clause Samples

Completion Payment and Practical Completion. If the Date of Practical Completion of Separable Portion 2 occurs in a period specified in the following table, Main Roads will pay the Non-Owner Participant the amount specified for that period in the table (Completion Payment): Date of Practical Completion of Separable Portion 2 occurs: Completion Payment 1 On or before 16 March 2018 $2.6m 2 Between 17 March 2018 and 23 March 2018 (inclusive) $2.1m 3 Between 24 March 2018 and 30 March 2018 (inclusive) $1.6m 4 Between 31 March 2018 and 6 April 2018 (inclusive) $1.1m 5 Between 7 April 2018 and 13 April 2018 (inclusive) $600,000 6 Between 14 April and 20 April 2018 (inclusive) $100,000 7 On or after 21 April 2018 $0 For the avoidance of doubt, only one claim may be made for the Completion Payment and the maximum Completion Payment payable by Main Roads is $2.6m.