Retainage. Except as provided in the second sentence of this Section, Recipient shall comply in all aspects with the requirements of Sections 153.12, 153.13, 153.14 and 153.63 of the Revised Code, or other law applicable to it, including, but not limited to, the provisions thereof, to the extent applicable to the Recipient, which require the holding of certain amounts from payments to be made to Contractors and the deposit of such amounts into an escrow account established pursuant to Section 153.63 of the Revised Code. The Recipient may use its legally applicable construction requirements for the Project, including, but not limited to, its legally applicable requirements, if any, for the retaining of certain amounts from payments to be made to contractors in lieu of the requirements of Sections 153.12, 153.13, 153.14 and 153.63 of the Revised Code.
Retainage. Except as provided in the second sentence of this Section, the Recipient shall comply in all respects with the requirements of Revised Code Sections 153.12, 153.13, 153.14, and 153.63, or other Law applicable to it including, but not limited to the provisions thereof, to the extent applicable to the Recipient, which require the holding of certain amounts from payments to be made to Contractors and the deposit of such amounts into an escrow account established pursuant to Revised Code Section 153.63. The Recipient may use its legally applicable construction contract requirements for the Project, including but not limited to its legally applicable requirements, if any, for the retaining of certain amounts from payments to be made to contractors in lieu of the requirements of Revised Code Sections 153.12, 153.13, 153.14, and 153.63. All such amounts deposited into the escrow account established pursuant to Revised Code Section 153.63, if applicable, or as required by any other applicable Law shall be paid by the Recipient from the Matching Funds or other local source of funds, and shall not be paid from the moneys provided to the Recipient pursuant to Section II hereof.
Retainage. Contractor agrees that any SOW Agreement may provide, in the discretion of the Agency, that the Agency withhold a percentage, determined in the discretion of the Agency, of the total amount payable for each SOW Agreement deliverable, to be payable only after satisfactory completion and the State’s final acceptance of the SOW Project.
Retainage. OWNER shall have the right to withhold from each payment of the contract price a sum ("retainage") equal to ten (10) percent of the invoice.
Retainage. The following provisions apply if Department withholds retainage under this Agreement:
Retainage. The Owner will withhold from each progress payment, as retainage, 5 percent of the total earned amount, or the amount authorized by law. Retainage is managed in conformance with Tex. Gov’t Code, Chapter 2252, Government Code, subchapter B.
Retainage. No retainage is required under this Agreement.
Retainage. The rate of retainage shall be that stated on the first page of this Subcontract Agreement, which amount is equal to the percentage retained (the “Retainage”) from the Contractor’s payment by the Owner for the Subcontract Work. If the Subcontract Work is satisfactory and the Contract Documents provide for reduction of retainage at a specified percentage of completion, then the Retainage shall also be reduced when the Subcontract Work has attained the same percentage of completion and the Contractor’s retainage for the Subcontract Work has been so reduced by the Owner. Payment and release of Retainage may be subject to local and/or state law governing the same.
Retainage. Retainage is permitted under this Agreement. Retainage may be up to a maximum of 10% of the total amount of the Agreement.
Retainage. State law requires that the City in a contract for a public improvement or work, other than performance of professional services, withhold from monies earned by the Contractor during the progress of the Work, a sum not to exceed 5% of the cost of the Work ("Retainage"), as a trust fund for the protection and payment of any person, mechanic, subcontractor or material men who shall perform any labor upon the contract, including the State of Washington, with respect to taxes imposed pursuant to RCW Title 82. The Retainage is held by the City pursuant to RCW 60.28.010 with the Contractor having certain options concerning the deposit or escrow of such funds. In addition, the Contractor may elect to submit a bond for all or any portion of the Retainage. After completion of the Work, other than landscaping, the Contractor may request that the City release the Retainage and sixty (60) days thereafter the City shall pay the Retainage provided there are no claims against the retained funds and the City has received from Department of Revenue, Employment Security Department and the Department of Labor and Industries certificates that all taxes, increases and penalties have been paid. In lieu of Retainage, the Contractor may substitute a bond for the purposes set forth in RCW Chapter 60.28.
