Lien Holdback Sample Clauses

Lien Holdback. Lien Holdback means the ten percent (10%) holdback retained pursuant to Part IV of the Construction Act.
Sample 1Sample 2Sample 3See All (16)
AutoNDA by SimpleDocs
Lien Holdback. (a) The Owner shall withhold from each payment with respect to the Fixed Contract Price due to the Contractor during the Project, the Lien Holdback Amount. The Owner may increase the Lien Holdback Amount by the amount of any holdback necessary or desirable as a result of registered Liens or claims for Liens, notice of which may have been received by the Owner.
Sample 1Sample 2Sample 3
Lien Holdback. Payment of all amounts under this Agreement shall also be subject to holdback, if applicable, under the lien legislation and regulations of the applicable province or territory of the location to which the Products or Services are to be delivered. Such holdback, if applicable, will be paid in accordance with the lien legislation and regulations of the applicable province or territory, subject to any other rights of Buyer under this Agreement or at law. Seller shall upon request of the Buyer at any time either prior to final payment and as a condition precedent thereto or subsequent to final payment, deliver to the Buyer statutory declarations and releases in the Buyer’s form confirming there are no claims, hypothecs and liens in relation to the Products or Services, including claims and liens of persons performing any labour and/or furnishing any material hereunder.
Sample 1Sample 2
Lien Holdback. That portion, if any, of the Purchase Price required by law to be held back by the Purchaser in respect of potential builders lien claimants (the “Lien Holdback”) will be paid to the Vendor’s Solicitor on the Completion Date. The Lien Holdback will be held by the Vendor’s Solicitor in trust pursuant to the Strata Property Act and the Builders Lien Act, with interest to the benefit of the Vendor, solely in respect of builders lien claims registered in the applicable Land Title Office in connection with work done at the request of the Vendor. The Vendor’s Solicitors are authorized to pay to the Vendor the Lien Holdback plus interest earned less the amount representing builders lien claims filed against the Strata Lot on the 56th day after the earlier of the date construction of the services in the strata plan is completed or the Completion Date (the earlier of which is referred to as the “Substantial Completion Date”). The Purchaser or Purchaser’s Solicitor or notary public is solely responsible to notify the Vendor’s Solicitor of any builders’ lien claims filed against the Strata Lot by 1:00 p.m. the Substantial Completion Date. The Purchaser hereby authorizes the Vendor and the Vendor’s Solicitors to do all things necessary to discharge any liens, including bringing court proceedings in the name of the Purchaser, provided that any such proceedings will be solely at the expense of the Vendor.
Sample 1

Related to Lien Holdback

  • Holdback In consideration for the Company agreeing to its obligations under this Agreement, each Shareholder agrees in connection with any registration of the Company’s securities (whether or not such Shareholder is participating in such registration) upon the request of the Company and the underwriters managing any underwritten offering of the Company’s securities, not to effect (other than pursuant to such registration) any public sale or distribution of Registrable Securities, including, but not limited to, any sale pursuant to Rule 144 or Rule 144A, or make any short sale of, loan, grant any option for the purchase of, or otherwise dispose of any Registrable Securities, any other equity securities of the Company or any securities convertible into or exchangeable or exercisable for any equity securities of the Company without the prior written consent of the Company or such underwriters, as the case may be, during the Holdback Period, provided that nothing herein will prevent any Shareholder that is a partnership or corporation from making a distribution of Registrable Securities to the partners or shareholders thereof or a transfer to an Affiliate that is otherwise in compliance with applicable securities laws, so long as such distributees agree to be so bound. With respect to such underwritten offering of Registrable Securities covered by a registration pursuant to Sections 2.1 or 2.2, the Company further agrees not to effect (other than pursuant to such registration or pursuant to a Special Registration) any public sale or distribution, or to file any Registration Statement (other than such registration or a Special Registration) covering any, of its equity securities, or any securities convertible into or exchangeable or exercisable for such securities, during the Holdback Period with respect to such underwritten offering, if required by the managing underwriter, provided that notwithstanding anything to the contrary herein, the Company’s obligations under this Section 2.7 shall not apply during any twelve-month period for more than an aggregate of ninety days.

  • Transfer Upon Realization of Pledged, Mortgaged or Charged Escrow Securities (1) You may transfer within escrow to a financial institution the escrow securities you have pledged, mortgaged or charged under section 4.2 to that financial institution as collateral for a loan on realization of the loan.

  • Escrow Funds To provide for the timely payment of any post-closing claims by Buyer against Seller hereunder, at Closing, Seller shall deposit an amount equal to One Hundred Fifty Thousand and No/100 Dollars ($150,000.00) (the “Escrow Funds”) which shall be withheld from the Purchase Price payable to Seller and shall be deposited for a period of one (1) year in an escrow account with the Title Company pursuant to an escrow agreement reasonably satisfactory in form and substance to Buyer and Seller (the “Post-Closing Agreement”), which escrow and Post-Closing Agreement shall be established and entered into at Closing and shall be a condition to Buyer’s obligations under this Contract. All earnings accrue to Seller and Seller may direct investment thereof. If no claims have been asserted by Buyer against Seller, or all such claims have been satisfied, within such 1-year period, the Escrow Funds deposited by Seller shall be released to Seller.

  • Cash at Closing At Closing, Purchaser shall pay to Seller, by wire transferred current federal funds, an amount equal to the Purchase Price, minus the sum of the Xxxxxxx Money which Seller receives at Closing from the Escrowee, and plus or minus, as the case may require, the closing prorations and adjustments to be made pursuant to Section 4(C) below.

Time is Money Join Law Insider Premium to draft better contracts faster.