Common use of Construction Lien Act Clause in Contracts

Construction Lien Act. The Purchaser covenants and agrees that he/she is a “home buyer” within the meaning of the Construction Lien Act, R.S.O. 1990, c.C.30 and will not claim any lien holdback on the Occupancy Date or Title Transfer Date. Subject to the rights of the Vendor under Paragraph 19(b), the Vendor shall complete the remainder of the Condominium according to its schedule of completion and neither the Occupancy Date nor the Title Transfer Date shall be delayed on that account.

Construction Lien Act. The Purchaser covenants and agrees that he/she is a “home buyer” within the meaning of the Construction Lien Act, R.S.O. 1990, c.C.30 and will not claim any lien holdback on the Occupancy Date or Title Transfer Date. Subject to the rights of the Vendor under Paragraph 19(b20(b), the Vendor shall complete the remainder of the Condominium according to its schedule of completion and neither the Occupancy Date nor the Title Transfer Date shall be delayed on that account.