Owner Holdbacks Sample Clauses

Owner Holdbacks. Notwithstanding anything to the contrary herein, in addition to the Retainage, upon the occurrence and continuance of any of the following events, Owner, upon Notice to Contractor in accordance with Section 6.12.2, may withhold or retain such portion (including all) of any payment due to Contractor under this Agreement as Owner deems appropriate in Owner’s reasonable discretion to confirm that performance of the Work will be effected in accordance with this Agreement or to protect fully the rights of Owner hereunder: (a) Any part of such payment is attributable to Work which is not materially in compliance with this Agreement; (b) Owner has received a notice of lien from any Subcontractor, Upgrade Supplier or Supplier or any other Person claiming payments due with respect to the Work; (c) Contractor’s failure to comply with the requirements of Article 21; (d) Owner has paid or is required to pay any amount pursuant to an official notice from a state agency, or employee benefit trust fund, for which Owner is or may reasonably be liable for Contractor or any Subcontractor, in accordance with Applicable Law; and (e) As one or more of the following shall occur: (i) A Contractor Event of Default shall have occurred hereunder; (ii) a lien claim has been filed for which Contractor is obligated to obtain a release pursuant to Article 29 and Contractor has not obtained such release within fifteen (15) days after such lien claim was filed; (iii) Contractor shall have failed to deliver any Contractor Deliverable included in Contractor’s Invoice to Owner on or before the date of such Contractor’s Invoice or any such Contractor Deliverable shall not have been prepared by Contractor in good faith; (iv) Contractor shall have failed to provide appropriate evidence of insurance in conformance with the requirements of this Agreement; (v) Owner shall have determined that any portion of the Work for which payment has already been made pursuant to a previous Contractor’s Invoice shall contain one or more Errors or Omissions or Defects; provided that the amount so withheld shall not exceed the amount reasonably expected to correct such Error or Omission or Defect; and (vi) a third-party claim has been filed for which Contractor is obligated to indemnify Owner pursuant to any of the provisions of Article 23 and Contractor has failed to provide the indemnification for such claim in accordance with Section 23.5 within the ten (10) day period provided therein.