Contract Retentions Sample Clauses

Contract Retentions. From each approved progress estimate, five percent (5%) will be deducted and retained by the District, and the remainder will be paid to Contractor. All Contract retention shall be released and paid to Contractor and subcontractors pursuant to California Public Contract Code Section 7107.
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Contract Retentions. From each approved progress estimate, ten percent (10%) will be deducted and retained by the City, and the remainder will be paid to Contractor. All Contract retainage shall be released and paid to the Contractor and subcontractors pursuant to California Public Contract Code Section 7107.
Sample 1
Contract Retentions. The Parent, the Buyer, and the Company ------------------- agree to fully cooperate in relation to contract retention issues (which shall include retainage issues and rate variance issues) for those contracts listed on Schedule 6.12.1. provided however, the Company shall consult and obtain Parent's ---------------- ---------------- advance consent with respect to coordination of negotiating positions, offers of compromise, or final agreements or settlements arising from or in relation to Contract retentions. The Parent and the Company agree that the Company shall invoice the client for contract retentions on behalf of the Parent. The Company shall pay to the Parent an amount equal to the aggregate recovery (the "Recovered Amount") of all cash payments, including the value of any cash ---------------- offsets or offset equivalents, made to the Company arising from or in relation to contract retention issues, less an amount equal to the Recovered Amount multiplied by the ratio of the lesser of (i) $800,000 or (ii) the portion of the Maximum Company Expense Amount actually incurred as of the date of the Recovered Amount by the Company divided by the total Billing and Rate Liabilities, provided however, that in the event the Company shall have failed to use ---------------- reasonable commercial efforts to cooperate with the Parent in relation to the recovery of such Contract retentions, the Company shall pay to the Parent 100% of such amounts due arising from or in relation to Contract retentions.
Sample 1
Contract Retentions. From each approved progress estimate, five percent (5%) will be deducted and retained by the MCDH, and the remainder will be paid to Contractor. All Contract retention shall be released and paid to Contractor and subcontractors pursuant to California Public Contract Code Section 7107.
Sample 1
Contract Retentions. If this Contract is greater than Five Thousand dollars ($5,000), from each approved progress estimate, five percent (5%) will be deducted and retained by the Town, and the remainder will be paid to Contractor. All Contract retention shall be released and paid to Contractor and subcontractors pursuant to California Public Contract Code Section 7107.
Sample 1

Related to Contract Retentions

  • Retainage Except as provided in the second sentence of this Section, Recipient shall comply in all aspects with the requirements of Sections 153.12, 153.13, 153.14 and 153.63 of the Revised Code, or other law applicable to it, including, but not limited to, the provisions thereof, to the extent applicable to the Recipient, which require the holding of certain amounts from payments to be made to Contractors and the deposit of such amounts into an escrow account established pursuant to Section 153.63 of the Revised Code. The Recipient may use its legally applicable construction requirements for the Project, including, but not limited to, its legally applicable requirements, if any, for the retaining of certain amounts from payments to be made to contractors in lieu of the requirements of Sections 153.12, 153.13, 153.14 and 153.63 of the Revised Code.

  • Records Retention The Asset Representations Reviewer will maintain copies of Review Materials, Review Reports and internal work papers and correspondence (collectively the “Client Records”) for a period of two years after the termination of this Agreement. At the expiration of the retention period, the Asset Representations Reviewer shall return all Client Records to the Servicer, in electronic format or, to the extent held in tangible form, in that form. Upon the return of the Client Records, the Asset Representations Reviewer shall have no obligation to retain such Client Records or to respond to inquiries concerning any Asset Review.

  • Document Retention As used in this Section 15.2, the term “Documents” shall mean all files, documents, books, records and other data delivered to Buyer by Seller pursuant to the provisions of this Agreement (other than those that Seller has retained either the original or a copy of), including: financial and tax accounting records; land, title and division of interest files; contracts; engineering and well files; and books and records related to the operation of the Assets prior to the Closing Date. Buyer shall retain and preserve the Documents for a period of no less than seven years following the Closing Date (or for such longer period as may be required by law or governmental regulation), and shall allow Seller or its representatives, at Seller’s expense, to inspect the Documents at reasonable times and upon reasonable notice during regular business hours during such time period. Seller shall have the right during such period to make copies of the Documents at its expense.

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