Release of Retainage. Within fifteen (15) days after the Project Substantial Completion Date, subject to Section 4.5 Owner shall release to Contactor all cash Retainage, except for a cash amount equal to two hundred percent (200%) of the projected costs to complete any remaining items on the Punch Lists, as such cost is reasonably estimated by Owner. Within fifteen (15) days after the Final Completion Date, Owner shall release the remaining cash Retainage (less any amount utilized by Owner to perform any Punch List items).
Appears in 6 contracts
Samples: Engineering, Procurement and Construction Agreement, Procurement and Construction Agreement, Engineering, Procurement and Construction Agreement
