Issue of Certificate of Practical Completion Clause Samples

The Issue of Certificate of Practical Completion clause defines the process by which the contract administrator formally acknowledges that the construction works have reached a stage where they are substantially complete and can be used for their intended purpose, even if minor defects remain. Typically, this involves an inspection of the works, after which the certificate is issued if the criteria are met, marking the end of the contractor’s primary obligations and the start of the defects liability period. This clause is essential as it provides a clear milestone for project completion, triggers key contractual events such as release of retention monies, and helps prevent disputes over when the contractor’s responsibilities are considered fulfilled.
Issue of Certificate of Practical Completion. (a) By no later than 20 Business Days from the date the ALT anticipates that Practical Completion will be reached, the ALT must notify the Project Owner of the date when Practical Completion is anticipated to be reached. (b) When the AMT is satisfied that Practical Completion has been achieved, the AMT will deliver the Practical Completion Report to the ALT and the Project Owner, certifying that: (1) the Works have achieved Practical Completion; and (2) the Practical Completion Report complies with the requirements of the Agreement. (c) The ALT will meet as soon as practicable after receipt of the Practical Completion Report in clause 14.2(b) to consider whether Practical Completion has been achieved. As soon as the ALT decides that Practical Completion has been reached, it must notify the Project Owner of the date when Practical Completion was reached. (d) The Project Owner must, if it agrees that Practical Completion has been reached, within 20 Business Days after receiving the notification of Practical Completion from the ALT, issue a certificate of Practical Completion (Certificate of Practical Completion) to the Participants, stating the Date of Practical Completion notified by the ALT.
View SourceView Similar (3)
Issue of Certificate of Practical Completion. The Depot SPC shall be required to obtain the prior written consent of the Secretary of State in accordance with clause 12.7 before it issues a Certificate of Practical Completion in respect of any Depot Phase. Where it is intended that a Certificate of Practical Completion is to be issued at the end of a Network Possession and/or a Depot Possession, in addition to obtaining the consent of the Secretary of State, the Depot SPC shall (as applicable) have received from Network Rail and the Building Contractor the applicable Forms G and from the Operator the Certificate of Introduction into Operational Use before it issues a Certificate of Practical Completion in respect of any Depot Phase.
View SourceView Similar (2)
Issue of Certificate of Practical Completion. (a) If the Alliance Board decides that Practical Completion has been reached in respect of a Separable Portion, it must notify Main Roads accordingly. (b) Main Roads must, if it agrees that Practical Completion has been reached, within 20 Business Days after receiving that notification, issue a certificate of Practical Completion in respect of that Separable Portion (Certificate of Practical Completion) to the Participants, stating the Date of Practical Completion notified by the Alliance Board.
View SourceView Similar (2)
Issue of Certificate of Practical Completion. 6.1 In relation to the issue of the Certificate of Practical Completion the Landlord shall procure that 6.1.1 the Architect gives to the Tenant at least five Working Days written notice of their proposal to issue such a certificate and of the date on which it is proposed to carry out the inspection of the Landlord's Works for that purpose 6.1.2 the Architect permits the Tenant and persons authorised by it to accompany the Architect in that inspection of the Landlord's Works 6.1.3 the Architect permits the Tenant and those authorised by it to discuss with them their proposal to issue the relevant certificate and in particular the date to be specified in it 6.1.4 the Architect acts impartially and has due regard to any reasonable representations made by the Tenant or those authorised by it (prior to the proposed date of issue of the certificate) in making a decision as to whether or not to issue the Certificate of Practical Completion and as to the date to be specified therein but not so as to ▇▇▇▇▇▇ the Architect's discretion in this regard 6.2 Where the Architect shall have given at least five Working Days notice under clause 6.1.1 and the anticipated Practical Completion Date is subsequently postponed the Landlord shall procure that the Certificate of Practical Completion is not subsequently issued unless notice has been given to the Tenant such notice to be three Working Days and otherwise in accordance with clause 6.1.1 (which procedure shall be repeated as often as necessary until such certificate is issued) 6.3 As soon as reasonably practicable after the issue of the Certificate of Practical Completion the Landlord shall supply a copy to the Tenant
View Source

Related to Issue of Certificate of Practical Completion

  • Cancellation of Certificate of Limited Partnership Upon the completion of the distribution of Partnership cash and property as provided in Section 12.4 in connection with the liquidation of the Partnership, the Certificate of Limited Partnership and all qualifications of the Partnership as a foreign limited partnership in jurisdictions other than the State of Delaware shall be canceled and such other actions as may be necessary to terminate the Partnership shall be taken.

  • DECLARATION OF TRUST; ISSUANCE OF CERTIFICATES Section 2.01 Creation and Declaration of Trust Fund; Conveyance of Mortgage Loans. Concurrently with the execution and delivery of this Agreement, the Depositor does hereby sell, transfer, assign, set over, deposit with and otherwise convey to the Trustee, without recourse, subject to Sections 2.02 and 2.04, in trust, all right, title and interest of the Depositor in and to the Trust Fund consisting of: (i) the Mortgage Loans, including the Mortgage Notes, the Mortgages, and the right to all payments of principal and interest received on or with respect to the Mortgage Loans after the Cut-off Date (other than Scheduled Payments due on or before such date), and all such payments due after such date but received on or prior to such date and intended by the related Mortgagors to be applied after such date; (ii) all of the Depositor’s right, title and interest, if any, in and to all amounts from time to time credited to and the proceeds of the Distribution Account, the Master Servicer Collection Account, any Custodial Accounts or any Escrow Account established with respect to the Mortgage Loans; (iii) with respect to the Mortgage Loans, to the extent set forth in the Acknowledgements, the Depositor’s rights under the Purchase Agreements and the Servicing Agreements and all of the Depositor’s rights under the Mortgage Loan Purchase and Sale Agreement; (iv) all of the Depositor’s right, title and interest, if any, in REO Property and the proceeds thereof; (v) all of the Depositor’s rights under any Insurance Policies related to the Mortgage Loans; and (vi) the Depositor’s security interest in any collateral pledged to secure the Mortgage Loans, including the Mortgaged Properties (collectively, the “Trust Fund”); and the Trustee declares that, subject to the Custodian’s review provided for in Section 2.02, it has received and shall hold the Trust Fund, as trustee, in trust, for the benefit and use of the Holders of the Certificates and for the purposes and subject to the terms and conditions set forth in this Agreement, and, concurrently with such receipt, has caused to be executed, authenticated and delivered to or upon the order of the Depositor, in exchange for the Trust Fund, all of the Certificates in the authorized denominations specified by the Depositor pursuant to Section 3.01(b). The foregoing sale, transfer, assignment, set-over, deposit and conveyance does not and is not intended to result in the creation or assumption by the Trustee of any obligation of the Depositor, the Seller or any other Person in connection with the Mortgage Loans or any other agreement or instrument relating thereto except as specifically set forth therein. Notwithstanding anything to the contrary contained herein, the parties hereto acknowledge that the functions of the Trustee with respect to the custody, acceptance and inspection of the Trustee Mortgage Files and release of Mortgage Documents, and preparation and delivery of the certifications relating to the Trustee Mortgage Files shall be performed by the Custodian pursuant to the terms and conditions of the Custodial Agreement. In addition, the Trustee is hereby directed to execute, not in its individual capacity but solely as Trustee hereunder, and deliver the Acknowledgements and the Custodial Agreement. The Master Servicer, the Depositor, the Securities Administrator and the Certificateholders (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing and delivering the Custodial Agreement and the Acknowledgements solely in its capacity as Trustee and not in its individual capacity. In connection with such sale, transfer and assignment of the Mortgage Loans, the Depositor does hereby deliver to, and deposit with, or cause to be delivered to and deposited with, the Custodian acting on the Trustee’s behalf, the Trustee Mortgage Files.

  • Amendment of Certificate In the event this Agreement shall be amended pursuant to Section 14.1, the General Partner shall amend the Certificate to reflect such change if it deems such amendment of the Certificate to be necessary or appropriate.

  • Form of Certificates Every holder of stock in the Corporation shall be entitled to have a certificate signed, in the name of the Corporation (i) by the Chairman of the Board of Directors, the President or a Vice-President and (ii) by the Treasurer or an Assistant Treasurer, or the Secretary or an Assistant Secretary of the Corporation, certifying the number of shares owned by him in the Corporation.

  • Office for Transfer of Certificates The Trustee shall maintain in New York, New York an office or agency where Certificates may be surrendered for registration of transfer or exchange. The office of the Trustee's agent at DTC Transfer Agent Services, ▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇ Entrance, New York, New York 10041, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇ is initially designated for said purposes.