Common use of Construction Act Clause in Contracts

Construction Act. (a) Project Co shall comply with the holdback requirements under the Construction Act. (b) If Project Co intends for Contracting Authority to retain holdback on the Substantial Completion Payment Date in the form of a letter of credit or demand-worded holdback repayment bond, Project Co shall: (i) submit a draft of the letter of credit or demand-worded holdback repayment bond in the form prescribed by the Construction Act and with all information populated to Contracting Authority for review no later than six months prior to the Scheduled Substantial Completion Date; and (ii) deliver to Contracting Authority the final issued letter of credit or demand- worded holdback repayment bond, which shall incorporate any comments received from Contracting Authority, no later than one month prior to the Scheduled Substantial Completion Date. (c) In the event Project Co fails to deliver the draft letter of credit or demand-worded holdback repayment bond or final issued letter of credit or demand-worded holdback repayment bond in accordance with Section 17.3(b), Contracting Authority may, in its sole discretion, retain such holdback in the form of funds, which shall be included in the amount of Legislative Holdback withheld by Contracting Authority from the Substantial Completion Payment. (d) Project Co acknowledges that, except for: (i) the application of the Legislative Holdback Reduction pursuant to and in accordance with Section 17.4; and (ii) any Annual Holdback Payment Amount paid in accordance with Section 5.4 of Schedule 20 – Payment Procedures, Contracting Authority will not make any payments pursuant to sections 25, 26.1 or 26.2 of the Construction Act of any amount of the Legislative Holdback, notwithstanding that the same may be permitted under the Construction Act, and that Contracting Authority will only make payment of Legislative Holdback in accordance with Section 4.5. (e) Project Co shall, as a condition of final payment under any Subcontract for which lien rights or rights in respect of the holdback may be claimed under the Construction Act, require that a certificate of completion under section 33(1) of the Construction Act for such Subcontract be issued and the relevant Subcontractor provide statutory declarations or other assurances confirming that all those engaged by the Subcontractor have been paid in accordance with Applicable Law. (f) Project Co shall promptly provide Contracting Authority with a copy of any materials which are provided to the Lenders to evidence compliance with the Construction Act. (g) Upon request by Contracting Authority, Project Co shall perform and deliver to Contracting Authority a sub-search of title to the Lands or any part thereof. Contracting Authority shall reimburse Project Co for the direct cost of any such sub-search except where (i) the search reveals an Encumbrance that is not permitted by this Project Agreement, (ii) Contracting Authority requested the search because it reasonably suspected that an Encumbrance that is not permitted by this Project Agreement was registered on title to the Lands, or (iii) Contracting Authority requested the search for the purpose of confirming that an Encumbrance that is not permitted by this Project Agreement has been discharged from title to the Lands. (h) Project Co shall cause the Lenders’ Consultant to be appointed as Payment Certifier under Construction Contract and shall cause the Lenders’ Consultant to certify the substantial performance of the Construction Contract in accordance with the Construction Act and to provide any certifications as may be required pursuant to Section 17.4(a) or Schedule 20 – Payment Procedures.

Construction Act. ‌ (a) The Parties acknowledge that Section 17.2 shall apply to claims for liens made against the Lands or the Facility pursuant to the Construction Act and shall also apply to claims made against Contracting Authority or the holdback under the Construction Act as though such a claim were an Encumbrance against the Lands as referred to therein. (b) Project Co shall comply with the holdback requirements under the Construction Act. (b) . If Project Co intends for Contracting Authority to retain holdback on the Substantial Completion Payment Date in the form of a letter of credit or demand-worded holdback repayment bond, then Project Co shall: (i) shall submit a draft of the letter of credit or demand-worded holdback repayment bond bond, in the form prescribed by the Construction Act and with all information populated populated, to Contracting Authority for review no later than six months and approval prior to the Scheduled Substantial Completion Date; and (ii) deliver to Contracting Authority issuance of the final issued applicable letter of credit or demand- worded holdback repayment bond, which bond and Project Co shall incorporate any comments received from Contracting Authority, no later than one month prior to the Scheduled Substantial Completion Date. (c) In the event Project Co fails to deliver the draft letter of credit or demand-worded holdback repayment bond or final issued letter of credit or demand-worded holdback repayment bond in accordance with Section 17.3(b), Contracting Authority may, in its sole discretion, retain such holdback in the form of funds, which shall be included in the amount of Legislative Holdback withheld by Contracting Authority from the Substantial Completion Payment. (d) Project Co acknowledges that, except for: (i) the application of the Legislative Holdback Reduction pursuant to and in accordance with Section 17.4; and (ii) any Annual Holdback Payment Amount paid in accordance with Section 5.4 of Schedule 20 – Payment Procedures, Contracting Authority will not make any payments pursuant to sections 25, 26.1 or 26.2 of the Construction Act of any amount of the Legislative Holdback, notwithstanding that the same may be permitted under the Construction Act, there will be no early release of any amount of the Legislative Holdback which the Contracting Authority is required to retain under the Construction Act, and that Contracting Authority the same will only make payment of Legislative Holdback be paid solely in accordance with Section 4.5. (ed) Project Co shall, as a condition of final payment under any Subcontract for which lien rights or rights in respect of the holdback may be claimed under the Construction Act, require that a certificate of completion under section 33(1) of the Construction Act for such Subcontract be issued and the relevant Subcontractor provide statutory declarations or other assurances confirming that all those engaged by the Subcontractor have been paid in accordance with Applicable Law. (fe) Project Co shall promptly provide Contracting Authority with a copy of any materials which are provided to the Lenders to evidence compliance with the Construction Act. (gf) Upon request by Contracting Authority, Project Co shall perform and deliver to Contracting Authority a sub-search of title to on the Lands or any part thereof. Contracting Authority shall reimburse Project Co for pay the direct cost reasonable costs of any such sub-search except where (i) the a search that reveals an Encumbrance Encumbrances that is are not permitted by this Project Agreement, (ii) Contracting Authority a search requested the search because it reasonably suspected based on a reasonable suspicion that an Encumbrance that is not permitted by this Project Agreement was has been registered on title to the Lands, or and (iii) Contracting Authority a search requested the search for the purpose of confirming that an Encumbrance that is not permitted by this Project Agreement has been discharged from title to the Lands. (hg) Project Co shall cause the Lenders’ Consultant a Payment Certifier to be appointed as Payment Certifier under the Design and Construction Contract and shall cause the Lenders’ Consultant such Payment Certifier to certify the substantial performance of the Design and Construction Contract in accordance with the Construction Act and to provide any certifications as may be required pursuant to Section 17.4(a) or Schedule 20 – Payment Procedures.Act. 18. SITE CONDITIONS‌