Second Completion Warranties Sample Clauses

Second Completion Warranties. This part of the schedule sets out the additional warranties to be given where two rounds of investment are to be made. If there is only a single investment, delete this part of the schedule. Always amend the warranties to reflect the transaction. For example in paragraph 2, the latest accounts to be delivered may be management or half-yearly accounts (if they are prepared). The effect of the first warranty in this part of the schedule is to repeat all of the warranties given at the first completion. Consider this warranty carefully, particularly if there is likely to be a long period of time between completion of the first round of investment and completion of the second round of investment. The final warranty is very widely drafted. For example, the warrantors’ view of "commitments of an unduly onerous nature" may differ from the investors’ view. Schedule 6: Matters requiring consent The matters requiring investor consent and investor director consent are likely to vary from transaction to transaction. See clause 11 above. Schedule 7: Undertakings The undertakings set out in this schedule provide the investors with additional comfort on how the company will run the business both during any gap between signing the contract and completion, and following their investment in the company. The undertakings should be considered in the context of each transaction and the nature of the company’s business. Where a right or opportunity to acquire shares and securities ("Securities") is available to a person by reason of employment, such Securities are regarded as "employment-related securities" and subject to the relevant employment income taxing provisions in part 7 of ITEPA. The joint elections referred to in schedule 7 are mainly concerned with the charging provisions of the "restricted securities regime" in chapter 2, part 7 of ITEPA. Broadly, there are two values that can be attributed to employment related securities for the purposes of determining tax charges under the "restricted securities regime": first, the initial unrestricted market value ("IUMV"), i.e the value of the Security disregarding all restrictions, such as vesting and forfeiture provisions, and secondly the restricted market value ("RMV"),
Sample 1
AutoNDA by SimpleDocs
Second Completion Warranties 
Sample 1Sample 2Sample 3See All (4)

Related to Second Completion Warranties

  • At Substantial Completion and Final Completion the Contractor shall provide a certification letter certifying that the Work does not contain asbestos as required by the UTUGCs.

  • At Completion the Buyer shall:

  • Project Completion Date It is agreed between the Parties that the Project Completion Date is <END DATE, YEAR>. If the Project is not completed by such date then, subject to an amendment agreed to between the Parties, Alberta Innovates may elect to terminate this Investment Agreement. In such event, Alberta Innovates will notify the Applicant of its decision to terminate as soon as reasonably practical and shall advise the Applicant of the effective date of termination. Alberta Innovates will have no liability or obligation to reimburse the Applicant for any Project Costs incurred after the effective date of termination and may require the Applicant to return any portions of the Investment which were spent on Ineligible Expenses. Additionally, any portion of the Investment not used and accounted for in accordance with this Agreement as of the Project Completion Date or earlier termination is repayable by the Applicant to AI at AI’s request.

  • FINAL COMPLETION AND FINAL PAYMENT 9.9.1 Upon receipt of written notice that the Work is ready for final inspection and acceptance and upon receipt of a final Application for Payment, the Architect will promptly make such inspection and, when he or she finds the Work acceptable under the Contract Documents and the Contract fully performed, he or she will promptly issue a final Certificate for Payment stating that to the best of his / her knowledge, information and belief, and on the basis of his or her observations and inspections, the Work has been completed in accordance with the terms and conditions of the Contract Documents and that the entire balance found to be due the Contractor, and noted in said final Certificate, is due and payable. The Architect's final Certificate for Payment will constitute a further representation that the Contractor has fulfilled the conditions entitling him or her to final payment as set forth in Subparagraph 9.9.2 of these General Conditions.

  • Completion of Punch List items 14.4.1 All items in the Punch List shall be completed by the Concessionaire within 90 (ninety) days of the date of issue of the Provisional Certificate and for any delay thereafter, other than for reasons solely attributable to the Authority or due to Force Majeure, the Authority shall be entitled to recover Damages from the Concessionaire to be calculated and paid for each day of delay until all items are completed, at the lower of (a) 0.1% (zero point one per cent) of the Performance Security, and (b) 0.2% (zero point two per cent) of the cost of completing such items as estimated by the Independent Engineer. Subject to payment of such Damages, the Concessionaire shall be entitled to a further period not exceeding 120 (one hundred and twenty) days for completion of the Punch List items. For the avoidance of doubt, it is agreed that if completion of any item is delayed for reasons solely attributable to the Authority or due to Force Majeure, the completion date thereof shall be determined by the Independent Engineer in accordance with Good Industry Practice, and such completion date shall be deemed to be the date of issue of the Provisional Certificate for the purposes of Damages, if any, payable for such item under this Clause 14.4.1.

  • Project Completion Part 1 – Material Completion

  • COMMENCEMENT AND COMPLETION OF THE PROJECT Section 3.01 The Project

  • Payments and Completion Payments may be withheld because of (1) defective work not remedied; (2) failure of contractor to make proper payments to subcontractors, workers, or suppliers; (3) persistent failure to carry out work in acceptance with this Agreement or these general conditions, or (4) legal claims. Final payment will be due after complete release of any and all liens arising out of the contract or submission of receipts or other evidence of payment covering all subcontractors or suppliers who could file such a lien. The contractor agrees to indemnify the Owner against such liens and will refund all monies including costs and reasonable attorney’s fees paid by the owner in discharging the liens. A 10 percent holdback is required by the lender to assure the work has been properly completed and there are no liens against the property. Owners Initials: Contractor’s Initials: -Continued on Page Three-

  • ADDITIONAL SPECIAL CONTRACT CONDITIONS A. Special Contract Conditions revisions: the corresponding subsections of the Special Contract Conditions referenced below are replaced in their entirety with the following:

  • PROGRESS AND COMPLETION 8.2.1 All time limits stated in the Contract Documents are material terms and time is the essence of the Contract. A failure by Contractor to do what is required by the time specified in the Contract Documents is a breach of the contract.

Time is Money Join Law Insider Premium to draft better contracts faster.