PROVISIONAL SUM Sample Clauses

POPULAR SAMPLE Copied 2 times
PROVISIONAL SUM. Contract parties' agreement on the use of the Provisional Sum: See part II of Article 21 (Supplementary Terms)____________________________________×_____________________________.
View Source
PROVISIONAL SUM. (1) Where the Project Manager is required by the Employer to execute or provide a measure described as a Provisional Sum Item in relation to the Project, the Project Manager shall be reimbursed for the actual cost of such Provisional Sum Item, provided that (i) such costs are no higher than fair market rates for the Provisional Sum Item, and (ii) such costs did not, directly or indirectly, arise out of or in connection with any negligence, breach of contract, unlawful or wrongful action or omission, fraud, bad faith, wilful misconduct or breach of any duty of the Project Manager, any of the Project Manager’s sub-consultants or sub-contractors, or any of their respective directors, officers, employees or agents. APPENDIX Clause Scope of Services 1.1(1) Refer to Annex A Stages of Agreement 1.1(2) Refer to Annex A Defects Liability Period 1.3(8)
View Source
PROVISIONAL SUM. 8.5.1 REDACTED – 5 lines 8.5.2 Within sixty (60) Working Days of completing the Southern Resource Park Land Option Agreement the Contractor shall at its own cost carry out a survey to assess the extent of the remedial ground works required in order to carry out the Works at the Southern Resource Park in accordance with the requirements of Schedules 1 (Output Specification) and 2 (Services Delivery Plan) (the “Survey”). For the avoidance of doubt the cost of the Survey shall not be included within the Provisional Sum.
View Source
PROVISIONAL SUM. (A) The Contract Price includes the provisional sums listed in Exhibit A. (B) CONTRACTOR shall comply with directions of COMPANY to carry out the work or supply an item to which the provisional sum relates. (C) CONTRACTOR shall submit prices for the work or item to which each provisional sum relates to COMPANY prior to COMPANY issuing a direction in relation to that work or item. (D) A provisional sum included in this Agreement shall not itself be payable by COMPANY but where pursuant to a direction issued by the COMPANY any part or the whole of the work or item to which the provisional sum relates is carried out or supplied by CONTRACTOR, the work or item shall be priced by the COMPANY, and the difference shall be added to or deducted from the Contract Price. (E) The Contract Price includes an amount for profit, preliminaries and on and off-site overheads in relation to the provisional sums and no amount for profit, preliminaries and on and off-site overheads in relation to the provisional sums shall be added to or deducted from the Contract Price.
View SourceView Similar (2)
PROVISIONAL SUM. The parties' agreement on the use of the Provisional Sum: It shall be used as required by the Project Owner, and shall be settled with the amount actually incurred after the verification and confirmation of the Project Owner. The amount not incurred shall be deducted from the Contract Price accordingly. Besides, when the Project Owner explicitly refers to the "optional project" in the Provisional Sum Project, unless explicitly instructed by the Project Owner, the Project Owner shall have the right to cancel it from the scope of the Contractor at any time and the Contractor shall have no right to make any claim.
View Source
PROVISIONAL SUM. The Provisional Sum can only be used according to the Supervisor's instructions and the actual price shall be adjusted accordingly.
View Source

Related to PROVISIONAL SUM

  • Default Interest; Other Amounts Prior to the occurrence or effective designation of an Early Termination Date in respect of the relevant Transaction, a party that defaults in the performance of any payment obligation will, to the extent permitted by law and subject to Section 6(c), be required to pay interest (before as well as after judgment) on the overdue amount to the other party on demand in the same currency as such overdue amount, for the period from (and including) the original due date for payment to (but excluding) the date of actual payment, at the Default Rate. Such interest will be calculated on the basis of daily compounding and the actual number of days elapsed. If, prior to the occurrence or effective designation of an Early Termination Date in respect of the relevant Transaction, a party defaults in the performance of any obligation required to be settled by delivery, it will compensate the other party on demand if and to the extent provided for in the relevant Confirmation or elsewhere in this Agreement.

  • Payment of default interest on overdue amounts The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

  • No Outstanding Charges There are no defaults in complying with the terms of the Mortgage, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable. The Seller has not advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the related Due Date of the first installment of principal and interest;

  • Repayment of Overpayments a. If, at any time, Good Shepherd identifies any Overpayment, Good Shepherd shall repay the Overpayment to the appropriate payor (e.g., Medicare contractor) within 60 days after identification of the Overpayment and take remedial steps within 90 days after identification (or such additional time as may be agreed to by the payor) to correct the problem, including preventing the underlying problem and the Overpayment from recurring. If not yet quantified, within 60 days after identification, Good Shepherd shall notify the payor of its efforts to quantify the Overpayment amount along with a schedule of when such work is expected to be completed. Notification and repayment to the payor shall be done in accordance with the payor’s policies. b. Notwithstanding the above, notification and repayment of any Overpayment amount that routinely is reconciled or adjusted pursuant to policies and procedures established by the payor should be handled in accordance with such policies and procedures.

  • Default Interest Rate From and after the occurrence of any Event of Default, and so long as any such Event of Default remains unremedied or uncured thereafter, the Obligations outstanding under the Agreement shall bear interest at a per annum rate of five percent (5%) above the otherwise applicable interest rate hereunder, which interest shall be payable upon demand. In addition to the foregoing, a late payment charge equal to five percent (5%) of each late payment hereunder may be charged on any payment not received by Bank within ten (10) calendar days after the payment due date therefor, but acceptance of payment of any such charge shall not constitute a waiver of any Event of Default under the Agreement. In no event shall the interest payable under this Addendum and the Agreement at any time exceed the maximum rate permitted by law.