Contract definition
Examples of Contract in a sentence
The remaining unpaid portion of the Contract Price one Day prior to the first anniversary of COD shall be the “Financed Remaining Balance.” On the first anniversary of COD, Contractor shall submit to Owner an invoice for the last Progress Milestone.
The Contract Price is subject to adjustment pursuant to authorized Change Orders.
Owner shall pay the Contract Price to Contractor in installments upon Contractor’s achievement of certain milestones as set forth on the Payment Schedule provided in Table D-2 of Exhibit D (each milestone event, a “Progress Milestone”).
If Owner has not issued the Notice to Proceed by the Outside NTP Date, then: this Agreement shall terminate and neither Party shall have further liability under this Agreement except that Owner shall pay to Contractor as liquidated damages (and not as a penalty) an amount equal to five percent (5%) of the Contract Price.
Owner shall thereafter have the right to actual damages from Contractor in the sum of the costs incurred by Owner that exceed the Contract Price to finish the Work, and other actual damages flowing from the Event of Default.