Existing Construction Contract Sample Clauses

The 'Existing Construction Contract' clause defines and references any pre-existing agreements related to construction work that are relevant to the current contract. This clause typically identifies the specific contract(s) already in place, outlines their scope, and clarifies how they interact with the new agreement, such as by incorporating their terms or specifying which provisions take precedence in case of conflict. Its core function is to ensure that all parties are aware of and aligned on the obligations and rights established by prior construction contracts, thereby preventing misunderstandings and legal disputes over overlapping or conflicting terms.
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Existing Construction Contract. Section 9.1(q) of the Purchase Agreement is hereby amended and restated in its entirety as follows:
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Existing Construction Contract. Buyer agrees to assume the Existing Construction Contract at closing. Notwithstanding the foregoing or anything contained in this Agreement to the contrary, Buyer shall receive a credit at Closing in the amount of ONE HUNDRED TWENTY-FOUR THOUSAND SIX HUNDRED FIFTY-SIX AND 50/100 DOLLARS ($124,656.50) for the purpose of paying any amounts that are or will be due and payable under the Existing Construction Contract on or after the Closing with respect to both work actually performed thereunder prior to the Closing and for any future work to be performed after the Closing pursuant to the Existing Construction Contract. In addition, notwithstanding the fact that the Existing Construction Contract is a lump sum contract, in the event additional sums (“Additional Sums”) are incurred by Buyer under the Existing Construction Contract in order to perform the remaining work to be performed under the Existing Construction Contract without alteration or modification thereto, without undue delay in commencing performance of the work, and without incurring any overtime or requiring any accelerated work schedule or any other change to the performance of the Existing Construction Contract in its ordinary course, Seller agrees to pay to Buyer the Additional Sums promptly following Buyer’s submission to Seller of a request for payment of such Additional Sums, which request shall be made, if at all, on or prior to the date which is one hundred eighty (180) days following the Closing, and which request shall include written evidence of the Additional Sums and a detailed accounting of the reasons therefor. For further clarification, “Additional Sums” shall not include costs incurred: (i) following the date which is one hundred eighty (180) days following the Closing; (ii) pursuant to change orders or amendments or modifications to the Existing Construction Contract; (iii) as a result of work that is beyond the scope of work currently contemplated in the Existing Construction Contract, or requiring materials or finishes that are not currently contemplated in the Existing Construction Contract; or (iv) as a result of expedited work schedules (e.g., evening or weekend work) resulting in higher labor costs than that currently contemplated under the Existing Construction Contract, it being understood and agreed that it is currently estimated that the outstanding work under the Existing Construction Contract will take approximately twelve (12) weeks to complete if the work is conduc...
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Existing Construction Contract. Buyer shall receive a credit at Closing for any amounts that are or will be due and payable under the Existing Construction Contract with respect to both work actually performed thereunder prior to the Closing and for any future work to be performed after the Closing pursuant to the terms of the Existing Construction Contract.
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Related to Existing Construction Contract

  • Complete Agreement; Construction This Agreement, and the other agreements and documents referred to herein, shall constitute the entire agreement between the parties with respect to the subject matter thereof and shall supersede all previous negotiations, commitments and writings with respect to such subject matter.

  • Construction Contract If federal funds are included as part of the financing of the non-OPWC portion of the Project, federal law may prevail, including, but not limited to, application of ▇▇▇▇▇ ▇▇▇▇▇ prevailing wage rates, the ▇▇▇▇▇▇▇▇ “Anti-Kickback” Act, the Contract Work Hours and Safety Standards Act, and any federal environmental regulations. Recipient is solely responsible for ensuring compliance with federal requirements applicable to its Local Subdivision Contribution. Notwithstanding the above, the following provisions apply to construction contracts under this Agreement:

  • Construction Contracts Item A: Enter the total dollar amount of all contacts awarded on the project/ program. Item B: Enter the total dollar amount of contracts connected with this project/program that were awarded to Section 3 businesses.

  • Contract Construction 6.27.1 The parties acknowledge that each party and its counsel have reviewed this CONTRACT and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this CONTRACT or any amendment or exhibits hereto.

  • Interconnection Facilities Engineering Procurement and Construction Interconnection Facilities, Network Upgrades, and Distribution Upgrades shall be studied, designed, and constructed pursuant to Good Utility Practice. Such studies, design and construction shall be based on the assumed accuracy and completeness of all technical information received by the Participating TO and the CAISO from the Interconnection Customer associated with interconnecting the Large Generating Facility.