Construction Completion Deadline Clause Samples
The Construction Completion Deadline clause sets a specific date or timeframe by which construction work must be finished. In practice, this clause applies to building contracts and requires the contractor to complete all agreed-upon work by the stipulated deadline, often with provisions for extensions in cases of unforeseen delays. Its core function is to ensure timely project delivery and provide a clear benchmark for performance, helping to prevent disputes over delays and enabling the enforcement of penalties or remedies if the deadline is not met.
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Construction Completion Deadline. If Commercial Operation of the SEF does not occur on or before [ ] (the “Guaranteed Commercial Operation Date”), subject to extension due to delays arising out of any Force Maujer events, any Buyer Acts, any Governmental Approvals or approvals from Client Agency’s Serving Utility (including the Interconnection Agreement), Client Agency shall have the right to terminate this Site Specific PPA by providing written notice to Seller at any time prior to the date upon which Commercial Operation is achieved.
Construction Completion Deadline. MagneGas will complete the first Gasifier not later than 90 days from its receipt of the first Progress Payment (the “Completion Date”). To the extent that the first unit is not completed by the Completion Date, the Purchase Price will be reduced by $5,000 per completed week that transpires after the Completion Date up until the actual date on which the first unit is completed, up to a maximum reduction of $150,000.00, subject to CSE’s right to terminate this Agreement for cause in accordance with Section 7.2. If CSE terminates this Agreement due to delays in accordance with this Section 4.4, MagneGas shall promptly refund all amounts paid by CSE hereunder (except for the two non-refundable deposits referenced in Sections 4.1 and 4.2 above).
Construction Completion Deadline. Four hundred twenty (420) days following commencement of construction.