Completion Sums Clause Samples

The Completion Sums clause defines the specific payments or financial amounts due upon the successful completion of a project or contractual milestone. Typically, this clause outlines the criteria for determining when completion has occurred and details the calculation or fixed amount to be paid to the contractor or service provider. By clearly specifying the financial obligations tied to project completion, this clause ensures both parties understand the payment expectations and helps prevent disputes over compensation at the end of the project.
Completion Sums. Completion Guarantor has the right to incur or advance Completion Sums at any time at its sole discretion. Completion Sums will be fully recoverable as provided in the Completion Agreement or by other agreement by and between Producer and Completion Guarantor, subject, if applicable, to the terms of the Interparty Agreement. The termination of or release of Completion Guarantor’s obligations hereunder shall not affect Completion Guarantor’s right to recover all Completion Sums. Beneficiary agrees that, as between Beneficiary and Completion Guarantor, Completion Guarantor is solely entitled to any Excess Incentives until Completion Guarantor’s full recoupment of all Completion Sums after payment of Incentives to Beneficiary until the Repayment Date applicable to Beneficiary. If Beneficiary shall collect any Excess Incentives after the Repayment Date applicable to Beneficiary, then Beneficiary will promptly pay such Excess Incentives to Completion Guarantor until Completion Guarantor’s full recoupment of all Completion Sums.
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Completion Sums. Completion Guarantor shall have the right at any time to incur, advance, or expend Completion Sums at its sole discretion. Completion Sums will be irrevocably and fully recoupable as herein provided. The termination or release of Completion Guarantor’s obligations under the Completion Documents shall not affect Completion Guarantor’s right to recoup Completion Sums.
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Related to Completion Sums

  • General Conditions Costs Contractor is entitled to receive payment for the actual cost of the allowable General Conditions items incurred after receipt of a Notice to Proceed with Construction from Owner through Substantial Completion of the Project, plus 30 calendar days. Contractor is not entitled to reimbursement for General Conditions Costs incurred before receipt of the Notice to Proceed. General Conditions Costs incurred after Substantial Completion, plus 30 calendar days, must be approved in advance by Owner. Allowable General Conditions items are identified below and in Exhibit “D” attached to this Agreement. These items shall be included in the General Conditions Cost amount shown as a line item in the Guaranteed Maximum Price Proposal and as detailed on the Schedule of Values. Items not specifically included below or in Exhibit “D” will not be allowed as General Condition Costs.

  • Completion of Project This Grant Agreement shall terminate upon completion of the project and payment of the last invoice.

  • Representations Relating to Documents and Legal Compliance Borrower represents and warrants to Silicon as follows: All statements made and all unpaid balances appearing in all invoices, instruments and other documents evidencing the Accounts are and shall be true and correct and all such invoices, instruments and other documents and all of Borrower’s books and records are and shall be genuine and in all respects what they purport to be. All sales and other transactions underlying or giving rise to each Account shall comply in all material respects with all applicable laws and governmental rules and regulations. To the best of Borrower’s knowledge, all signatures and endorsements on all documents, instruments, and agreements relating to all Accounts are and shall be genuine, and all such documents, instruments and agreements are and shall be legally enforceable in accordance with their terms.

  • Completion of Due Diligence Each Purchaser shall have completed its legal, business and financial due diligence of the Company to its full satisfaction and shall be fully satisfied with the results thereof.

  • Completion of Repairs Borrower will commence any Repairs as soon as practicable after the date of this Loan Agreement and will diligently proceed with and complete such Repairs on or before the Completion Date. All Repairs and Capital Replacements will be completed in a good and workmanlike manner, with suitable materials, and in accordance with good building practices and all applicable laws, ordinances, rules, regulations, building setback lines and restrictions applicable to the Mortgaged Property. Borrower agrees to cause the replacement of any material or work that is defective, unworkmanlike or that does not comply with the requirements of this Loan Agreement, as determined by Lender.