Final Draw Payment Sample Clauses

Final Draw Payment. Final payment constituting the unpaid balance of the Subcontract Price other than the Subcontractor's retention (as set forth in the Project Agreement) shall be due and payable upon Contractor's final approval of the Work, provided that, as a condition to such payment, the Subcontractor has first delivered to the Contractor evidence of the Subcontractor's payment of all Sub-subcontractors and the absence of any liens with respect to the Work. Specifically, as a condition to final payment (and before the retention billing is submitted to Contractor), Subcontractor shall deliver fully-executed Unconditional Waiver and Release Upon Progress Payment forms, using the form attached as Schedule "C-4", for all of Subcontractor's suppliers, subcontractors, and materialmen who have been paid in full for their work, labor, services or materials provided to the Project, and Conditional Waiver and Release Upon Final Payment forms, using the form attached as Schedule "C-3", (conditioned only upon final payment) from Subcontractor and from all Sub-subcontractors and material suppliers who have supplied labor or materials to the Project or who have otherwise been involved in Subcontractor's Work, and who have yet to be paid in full. In the event Subcontractor uses any union labor, final payment by Contractor to Subcontractor may, at Contractor's option, be further conditioned upon Contractor's receipt of a statement from any trust fund (as set forth in California Civil Code Section 3111.5) and shall not be made unless in Contractor's opinion all payroll affidavits and union dues receipts have been furnished by Subcontractor.