Common use of Consequential Effects Clause in Contracts

Consequential Effects. (a) The following provisions shall apply to the Occupied Part as from the Date of Practical Completion in respect of the Occupied Part until the completion of the remainder of the Works: (i) Release to the Contractor in the next Interim Certificate after the date of the Employer’s possession of the Occupied Part of a proportion of the first half of the Retention Monies under Clause 42 in respect of the Occupied Part, based upon the total value of the Occupied Part relative to the value of the whole of the Works. (ii) The provisions of Clause 27 (Defects After Completion) shall apply as if the Occupied Part was the subject of a separate and distinct contract between the Employer and the Contractor (iii) The Contractor may reduce the value of the Works insured under Clause 38A (if applicable) by the total value of the Occupied Part as from the Date Of Practical Completion of the Occupied Part, from which date the Contractor's obligations under Clauses 34 and 38A (if applicable) shall cease in relation to the Occupied Part (except for any outstanding works in the Occupied Part until such time as their completion by the Contractor has been certified by the Superintending Officer.) (iv) The rate of Liquidated Damages for delay pursuant to Clause 26 shall be reduced proportionately based upon the total value of the Occupied Part relative to the total value of the whole of the Works. (v) On the expiry of the Defects Liability Period of the Occupied Part or upon the issue of the Certificate of Making Good Defects of the Occupied Part, whichever is the later, the Contractor shall be paid the second half of the Retention Monies calculated on the same basis as the first half. The Limit of Retention under Clause 42.3 shall be reduced by the amount of Retention Monies so released under this Clause 23. (b) For the avoidance of doubt, nothing contained in sub-clause 23.2(a) shall entitle the Contractor to the release of the whole or any part of the Performance Security Deposit deposited by him pursuant to Option Module F (if applicable). The Performance Security Deposit (if applicable) shall be released or refunded only upon the issue of the Certificate of Practical Completion for the whole of the Works or in respect of the last section of the Works, as the case may be.

Consequential Effects. (a) The following provisions shall apply to the Occupied Part as from the Date of Practical Completion in respect of the Occupied Part until the completion of the remainder of the Works: (i) Release to the Contractor in the next Interim Certificate after the date of the Employer’s possession of the Occupied Part of a proportion of the first half of the Retention Monies under Clause 42 in respect of the Occupied Part, based upon the total value of the Occupied Part relative to the value of the whole of the Works. (ii) The provisions of Clause 27 (Defects After Completion) shall apply as if the Occupied Part was the subject of a separate and distinct contract between the Employer and the Contractor (iii) The Contractor may reduce the value of the Works insured under Clause 38A (if applicable) by the total value of the Occupied Part as from the Date Of of Practical Completion of the Occupied Part, from which date the Contractor's obligations under Clauses 34 and 38A (if applicable) shall cease in relation to the Occupied Part (except for any outstanding works in the Occupied Part until such time as their completion by the Contractor has been certified by the Superintending Officer.) (iv) The rate of Liquidated Damages for delay pursuant to Clause 26 shall be reduced proportionately based upon the total value of the Occupied Part relative to the total value of the whole of the Works. (v) On the expiry of the Defects Liability Period of the Occupied Part or upon the issue of the Certificate of Making Good Defects of the Occupied Part, whichever is the later, the Contractor shall be paid the second half of the Retention Monies calculated on the same basis as the first half. The Limit of Retention under Clause 42.3 shall be reduced by the amount of Retention Monies so released under this Clause 23. (b) For the avoidance of doubt, nothing contained in sub-clause 23.2(a) shall entitle the Contractor to the release of the whole or any part of the Performance Security Deposit deposited by him pursuant to Option Module F (if applicable). The Performance Security Deposit (if applicable) shall be released or refunded only upon the issue of the Certificate of Practical Completion for the whole of the Works or in respect of the last section of the Works, as the case may be.

Consequential Effects. (a) The following provisions shall apply to the Occupied Part as from the Date of Practical Completion in respect of the Occupied Part until the completion of the remainder of the Works: (i) Release to the Contractor in the next Interim Certificate after the date of the Employer’s possession of the Occupied Part of a proportion of the first half of the Retention Monies under Clause 42 in respect of the Occupied Part, based upon the total value of the Occupied Part relative to the value of the whole of the Works.; (ii) The provisions of Clause 27 (Defects Liability After Completion) shall apply as if the Occupied Part was the subject of a separate and distinct contract between the Employer and the Contractor; (iii) The Contractor may reduce the value of the Works insured under Clause 38A (if applicable) by the total value of the Occupied Part as from the Date Of of Practical Completion of the Occupied Part, from which date the Contractor's obligations under Clauses 34 and 38A (if applicable) shall cease in relation to the Occupied Part (except for any outstanding works in the Occupied Part until such time as their completion by the Contractor has been certified by the Superintending Officer.); (iv) The rate of Liquidated Damages for delay pursuant to Clause 26 shall be reduced proportionately based upon the total value of the Occupied Part relative to the total value of the whole of the Works.; (v) On the expiry of the Defects Liability Period of the Occupied Part or upon the issue of the Certificate of Making Good Defects of the Occupied Part, whichever is the later, the Contractor shall be paid the second half of the Retention Monies calculated on the same basis as the first half. The Limit of Retention under Clause 42.3 shall be reduced by the amount of Retention Monies so released under this Clause 23.; (b) For the avoidance of doubt, nothing contained in sub-clause 23.2(a) shall entitle the Contractor to the release of the whole or any part of the Performance Security Deposit deposited by him pursuant to Option Module F (if applicable). The Performance Security Deposit (if applicable) shall be released or refunded only upon the issue of the Certificate of Practical Completion for the whole of the Works or in respect of the last section of the Works, as the case may be.