Project Update Clause Samples
A Project Update clause requires one party, typically the service provider or contractor, to regularly inform the other party about the progress of a project. This may involve submitting written reports, holding status meetings, or providing milestone updates at agreed intervals. By establishing a clear process for sharing information, the clause ensures transparency, keeps all stakeholders informed, and helps identify and address issues early, thereby supporting effective project management and minimizing misunderstandings.
Project Update. The execution of the UA completes one of the four key milestones required for FID. The other three milestones are: (i) the award of construction contracts for the upstream and midstream vessel, (ii) the completion of the project finance facility and (iii) a decision on the amount of gas to be termed at FID and signature of resulting LNG SPAs. With respect to these milestones:
Project Update. Status of major activities in the reporting period, both current and upcoming.
Project Update. The technology engineering and economic validation (‘Phase II’) program has continued to achieve steady progress during the review period. The GLE team in Wilmington, North Carolina is focussed on scaling up separator and gas handling equipment in the Test Loop facility, whilst the Silex team in Sydney continues to make good progress with the scaling up of the laser systems to commercial prototypes. ▇▇▇▇▇ remains firmly committed to providing ongoing support to the Phase II program activities at both sites whilst undertaking the search for new investors. Subject to successfully completing the GLE restructure, the intention is for the commercialisation program to be ramped up again in the near future, in anticipation of a recovery in market conditions.
Project Update. Twice a year, in the middle of each work period (i.e. three months after the end of a work period as described in Section 5), Grantee shall provide a short update (maximum 2 pages, bullet-points are sufficient) on current developments and significant events within the Project. This Update is due within 14 days.
Project Update. As you are aware, the City Harbor Project approach is being modified to build the entire project in one instance versus the initial approach to build in two phases over a longer time period. We believe that a single phased approach will ensure the financial viability of the project, minimize the construction disruptions and safety issues associated with a two-phased project and in general bring the Waterfront up to a level where all residents and visitors of Ithaca can enjoy the beauty of Cayuga Lake sooner and with as few interruptions as possible. This has been brought about by our new partner, ▇▇▇▇▇▇▇ Companies, who has a long and successful track record of developing, constructing and operating multifamily apartment communities. In addition to constructing in one phase, the project plans have been fine-tuned to include a greater portion of public access space, additional pocket parks and a change in apartment unit mix that will allow access to more residents of Ithaca and the surrounding area by offering studio units with rents starting at $1,950 per month. A summary of the project budget follows:
Project Update. Status of major activities including, Phase 1-Design and Phase 2- Construction, in the reporting period, both current and upcoming.
Project Update. Project Team