Costs of Completion Sample Clauses

Costs of Completion. In the event of termination under this Section, CONTRACTOR shall not be entitled to receive any further payment of the Contract Price, if any is due, until the Work is completed. If the unpaid balance of the Contract Price as of the date of termination exceeds DISTRICT's direct and indirect costs and expenses for completing the Work, including without limitation, attorneys' fees and compensation for additional professional and consultant and administrative services, such excess shall be used to pay CONTRACTOR for the cost of the Work performed prior to the effective date of termination with a reasonable allowance for overhead and profit. If DISTRICT’s costs and expenses to complete the Work, including but not limited to architectural, engineering, consultant, administrative, managerial, and/or legal services costs and expenses, exceed the unpaid Contract Price, CONTRACTOR and/or the Surety shall pay the difference to DISTRICT within ten (10) days of receipt of a written demand for such payment by DISTRICT to CONTRACTOR and Surety. Expense incurred by DISTRICT, as herein provided, and damage incurred through CONTRACTOR’s default, shall be certified to DISTRICT by ARCHITECT.
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Costs of Completion. Pursuant to the Property Lease, the Lessee shall be responsible, after Closing, for completion of construction of those improvements currently in process at the Real Property as generally described in the construction budget attached hereto as Exhibit R. Buyer shall make available to Lessee, from time to time, undisbursed portions of the Remaining Construction Cost Funds, in order to reimburse Lessee for the ongoing Cost of Completion, all as set forth in the Property Lease. In the event the Cost of Completion (as determined by Lessee and confirmed by Buyer) is less than the Agreed Cost of Completion, Buyer shall pay the balance of the undisbursed Remaining Construction Cost Funds to Lessee within sixty (60) days after the Lessee's written request therefor and delivery to Buyer of supporting documentation reasonably satisfactory to Purchaser, all as more fully described in the Property Lease.
Sample 1
Costs of Completion. In the event of termination under this Article 15.1, the Contractor shall not be entitled to receive any further payment of the Contract Price until the Work is completed. If the unpaid balance of the Contract Price as of the date of termination exceeds the District's direct and indirect costs and expenses for completing the Work, including without limitation, reasonable attorneys fees and compensation for additional professional and consultant services, such excess shall be used to pay the Contractor for the cost of the Work performed prior to the effective date of termination with a reasonable allowance for overhead and profit. If the District's costs and expenses to complete the Work exceed the unpaid Contract Price, the Contractor and/or the Surety shall pay the difference to the District.
Sample 1
Costs of Completion. Borrower shall be liable to Lender for all costs paid or incurred for the construction, equipping and completion of the Project, whether the same shall be paid or incurred pursuant to the provisions of this Section 20.2 or otherwise, and all payments made or liabilities incurred by Lender under this Section 20.2 of any kind whatsoever shall be deemed advances made to Borrower under this Agreement and shall be secured by the Mortgage and the other Loan Documents. In the event Lender takes possession of the Project and assumes control of such construction as aforesaid, it shall not be obligated to continue such construction longer than it shall see fit and may thereafter, at any time, change any course of action undertaken by it or abandon such construction and decline to make further payments for the account of Borrower whether or not the Project shall have been completed. For purpose of this Section 20.2, the construction, equipping and the completion of the Project shall be deemed to include any action necessary to cure any Event of Default by the Borrower under any of the terms and provisions of any of the Loan Documents.
Sample 1

Related to Costs of Completion

  • Project Completion The Project and the Work are complete.

  • Payments and Completion Payments may be withheld because of (1) defective work not remedied; (2) failure of contractor to make proper payments to subcontractors, workers, or suppliers; (3) persistent failure to carry out work in acceptance with this Agreement or these general conditions, or (4) legal claims. Final payment will be due after complete release of any and all liens arising out of the contract or submission of receipts or other evidence of payment covering all subcontractors or suppliers who could file such a lien. The contractor agrees to indemnify the Owner against such liens and will refund all monies including costs and reasonable attorney’s fees paid by the owner in discharging the liens. A 10 percent holdback is required by the lender to assure the work has been properly completed and there are no liens against the property. Owners Initials: Contractor’s Initials: -Continued on Page Three-

  • Final Completion The full and final completion of all Work in accordance with the Contract Documents.

  • Effect of Completion This agreement shall, as to any of its provisions remaining to be performed or capable of having or taking effect following Completion, remain in full force and effect notwithstanding Completion.

  • TIME OF COMPLETION The Owner shall issue a Notice to Proceed identifying the date for commencement of the Work. The commencement date shall be 10 or more days after the date the notice is issued. The Contractor shall achieve substantial completion of the Work within _____________________ (____) calendar days after the commencement date, as such completion date may be extended by approved Change Orders. The time set forth for completion of the Work is an essential element of the Contract.

  • Closing Costs and Prorations Taxes and assessments for the current year, if any, shall be prorated between the prior owner of the Personal Property and Buyer as of the date of closing. Seller shall pay one-half (½) of Closing Agent’s closing and escrow fees. Buyer shall pay one-half (½) of Closing Agent’s closing and escrow fees. In addition, Buyer shall pay all other closing costs, including but not limited to: (1) recording fees for the cost of recording the State Deed; (2) the cost for any title insurance purchased at Buyer’s option; (3) lender fees, if any, together with all associated recording fees, if any; and (4) any other cost, fee, or expense which may be reasonably required in order for the transaction to close.

  • Project Completion Date It is agreed between the Parties that the Project Completion Date is <END DATE, YEAR>. If the Project is not completed by such date then, subject to an amendment agreed to between the Parties, Alberta Innovates may elect to terminate this Investment Agreement. In such event, Alberta Innovates will notify the Applicant of its decision to terminate as soon as reasonably practical and shall advise the Applicant of the effective date of termination. Alberta Innovates will have no liability or obligation to reimburse the Applicant for any Project Costs incurred after the effective date of termination and may require the Applicant to return any portions of the Investment which were spent on Ineligible Expenses. Additionally, any portion of the Investment not used and accounted for in accordance with this Agreement as of the Project Completion Date or earlier termination is repayable by the Applicant to AI at AI’s request.

  • Construction Completion The related Construction shall have been completed substantially in accordance with the related Plans and Specifications, the related Deed and all Applicable Laws, and such Leased Property shall be ready for occupancy and operation. All fixtures, equipment and other property contemplated under the Plans and Specifications to be incorporated into or installed in such Leased Property shall have been substantially incorporated or installed, free and clear of all Liens except for Permitted Liens.

  • Costs and Prorations There shall be prorated between the landlord/Seller and the Tenant/Buyer, as of date of closing, the following items: (a) All real estate taxes and assessments; (b) Interest on encumbrances assumed or taken over by Tenant/Buyer with the Tenant/Buyer having responsibility for such items as follows: Landlord/Seller will pay: Tenant/Buyer will pay:

  • PROGRESS AND COMPLETION 8.2.1 All time limits stated in the Contract Documents are material terms and time is the essence of the Contract. A failure by Contractor to do what is required by the time specified in the Contract Documents is a breach of the contract.

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