Handback Work definition
Examples of Handback Work in a sentence
The O&M and Handback Work Plan must also be sufficiently detailed to allow MDOT to perform independent cost validation and ▇▇▇▇▇▇ the necessary acceptances needed to reach Financial Close for each Section.
Requirements for the Handback Work Plan are included in Exhibit 6 Article 26 (Handback).
The Phase Developer shall develop a Plan for O&M and Handback Work to support the Predevelopment Work in a sufficient manner for the Phase Developer to confidently reduce risk associated with the Section Work, submit a Committed Section Proposal that is acceptable to MDOT, and reach Financial Close for each Section.
Specific O&M and Handback Work activities which may be needed or may need to be evaluated to reach a Committed Section Proposal and the corresponding responsibilities for these activities are discussed in the Technical Provisions.
If any part of the Event Centre, any Building Systems or any Required FF&E fails to meet this standard to the satisfaction of The City or if any Handback Work remains to be completed, the Manager shall, at its sole cost and expense, take any steps as are necessary to bring the foregoing up to such standard or to complete the Handback Work prior to the expiration or termination of this Agreement.
The Manager shall take all reasonable steps to complete all Handback Work by the end of the Term and if that is not possible, as soon thereafter as its practicable.
The Final Handback Inspection Report shall include the final Asset Condition Report of all Elements and a list of all such Elements and their Residual Life or Useful Life and shall demonstrate effective completion of all Handback Work identified in the Initial Handback Inspection Report, the Second Handback Inspection Report and the Third Handback Inspection Report.
Developer shall procure that an Accepted Independent Consultant shall carry out the initial Handback Inspections to identify and establish the asset condition, Residual Life and period remaining of the Useful Life of all Elements and verify the extent of all Work required to ensure that the requirements set out in Section 1 of this Schedule 12 are satisfied as at the Expiry Date (the "Handback Work").
During the Handback Work Period the Annual O&M Report shall detail the results of the Asset Condition Inspections, Specialist Inspections and Handback Work carried out during the previous year.
All other Handback Work shall be completed before the Expiry Date.