Lien Holdback Amount definition

Lien Holdback Amount means $1,771,615.94 and $8,297,847.23, in each case inclusive of HST, representing the 10% of the final contract price for the BFW EPC Contract and the CLLSP EPC Contract, respectively;
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Lien Holdback Amount means the holdback amount pursuant to Section 22 of the Construction Act (Ontario).
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Examples of Lien Holdback Amount in a sentence

  • The Owner may increase the Lien Holdback Amount by the amount of any holdback necessary or desirable as a result of registered Liens or claims for Liens, notice of which may have been received by the Owner.

  • No later than ten (10) Business Days following receipt by Seller Representative of such notice or evidence, the Seller Representative and ▇▇▇▇▇ shall jointly instruct the Escrow Agent to release to the IRS (in accordance with payment instructions provided by the IRS) all or a portion of the Seer Tax Lien Holdback Amount that corresponds to the IRS Action.

  • In the event that such instruction provides a payment to the IRS that is less than the full amount of the Seer Tax Lien Holdback Amount, the Seller Representative and Buyer shall, in the same joint instruction letter, jointly instruct the Escrow Agent to release such excess amount to Seer Master Fund.

  • In the event that Seller Representative delivers to Buyer the Lien Release prior to Closing, the Buyer shall not remit any funds representing the Seer Tax Lien Holdback Amount to the Escrow Agent and, instead, shall remit the applicable funds to Seer Master Fund as part of the Estimated Closing Payment in accordance with Section 2.3.

Related to Lien Holdback Amount

  • Holdback Amount has the meaning set forth in Section 2.06(a).

  • Escrow Cash is defined in Section 4.1(a).

  • Indemnity Escrow Amount means $3,000,000.

  • Escrow Amount has the meaning set forth in Section 2.1(c).

  • Indemnity Escrow Fund means the Indemnity Escrow Amount deposited with the Escrow Agent, as such sum may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.