Common use of Retainage on Progress Payments Clause in Contracts

Retainage on Progress Payments. 7.2.1 Owner will retain ten percent ( 10%) of each payment provided, however, that when fifty percent (50%) of the Work ($38,343,191.00 aggregate payment) has been completed by Design-Builder, Owner will not retain any additional amounts from Design-Builder’s subsequent payments, unless there is less than $3,834,319.10 total retainage. Owner will also reasonably consider reducing retainage for Subcontractors completing their work early in the Project.

Retainage on Progress Payments. 7.2.1 Owner will retain ten percent ( 10%) of each payment provided, however, that when fifty percent (50%) of the Work ($38,343,191.00 22,872,000 aggregate payment) has been completed by Design-Builder, Owner will not retain any additional amounts from Design-Builder’s subsequent payments, unless there is less than $3,834,319.10 2,287,200 total retainage. Owner will also reasonably consider reducing retainage for Subcontractors completing their work early in the Project.

Retainage on Progress Payments. 7.2.1 Owner will retain ten percent ( 10%) of each payment provided, however, that when fifty percent (50%) of the Work ($38,343,191.00 22,874,850.00 aggregate payment) has been completed by Design-Builder, Owner will not retain any additional amounts from Design-Builder’s subsequent payments, unless there is less than $3,834,319.10 2,287,485.00 total retainage. Owner will also reasonably consider reducing retainage for Subcontractors completing their work early in the Project.

Retainage on Progress Payments. 7.2.1 7.3.1 Owner will retain ten percent ( 10%) of each payment Application for Payment provided, however, that when fifty percent (50%) of the Work ($38,343,191.00 aggregate payment) has been completed by Design-Design- Builder, and if the Work is proceeding satisfactorily, then Owner will not retain any additional amounts from Design-Builder’s subsequent payments, unless there is less than $3,834,319.10 total retainageApplications for Payment. Owner will also reasonably consider reducing retainage for Subcontractors completing their work early in the Project.

Retainage on Progress Payments. 7.2.1 Owner will retain ten percent ( 10%) of each payment provided, however, that when fifty percent (50%) of the Work ($38,343,191.00 13,450,000 aggregate payment) has been completed by Design-Builder, Owner will not retain any additional amounts from Design-Builder’s 's subsequent payments, unless there is less than $3,834,319.10 1,345,000 total retainage. Owner will also reasonably consider reducing retainage for Subcontractors completing their work early in the Project.