Common use of Construction Act Clause in Contracts

Construction Act. Upon receiving notice or upon any liens being filed pursuant to the Construction Act which may affect any portion of the Lands in which the Town may have an interest, the Owner shall be deemed to be in default of this Agreement. Upon discovering such default, the Town may forthwith give the Owner notice in writing of the said lien or claim and the Owner shall be allowed to cure or remedy such default by discharging or vacating the said lien to the satisfaction of the Town within ten (10) days of such notice. If such default is not remedied or cured as above, the Town may, notwithstanding any other remedies it may have, draw upon any Letter of Credit or other security which may be held pursuant to this Agreement to secure its interests, and may pay into Court any amount provided for in the Construction Act as may be necessary therefor. The Owner shall provide a statutory declaration that it has paid all contractors, sub-contractors and consultants associated with the construction of the Works and complied fully with the provisions of the Construction Act.

Construction Act. Upon receiving notice or upon any liens being filed pursuant to the Construction Act which may affect any portion of the subject Lands in this Agreement in which the Town may have an interest, the Owner this Agreement shall be deemed to be in default of this Agreementdefaulted by the Owner. Upon discovering such default, the Town may forthwith give the Owner notice in writing of the said lien or claim and the Owner shall be allowed to cure or remedy such default by discharging or vacating the said lien to the satisfaction of the Town within ten (10) days of such notice. If such default is not remedied or cured as above, the Town may, notwithstanding any other remedies it may have, draw upon any security or Letter of Credit or other security which may be held pursuant to this Agreement to secure its interests, interests and may pay into Court any amount holdback and costs provided for in by the Construction Act as may be necessary therefor. The Owner shall provide a statutory declaration that it has paid all contractors, sub-contractors and consultants associated with the construction of the Works public works and complied fully with the provisions of the Construction Act.