Project Close-Out definition
Project Close-Out means the processes performed to close the sub-award, to include determination of project overage or underrun and authoring the request to FEMA for additional obligation of funds or de-obligation of funds, with a summarization of compliance/eligibility.
Project Close-Out means the first date following the final completion of the applicable Expansion Building by Landlord that (i) all contractors, subcontractors, suppliers, architects and others who supplied labor or materials have been paid in full and all liens are released; (ii) the architect or general contractor for the applicable Expansion Building have issued any certificate(s) of completion as may be required by Landlord; (iii) all punch list items have been completed; and (iv) the contractors and architect have provided all close out documentation required by Landlord; provided, however, that in no event shall such date be deemed to occur until the applicable Expansion Building Rent Commencement Date.
Project Close-Out means that all of the following conditions have been met: (1) all project construction or rehabilitation has been completed; (2) the borrower has submitted all documents, reports and forms as required by the Loan/Grant Agreement, including a copy of the 8609 report submitted to TCAC; (3) the City has reviewed and approved borrower’s project completion reports and documents; and (4) 100% lease-up.
Examples of Project Close-Out in a sentence
Per Texas Administrative Code (TAC) 31.47, Audit and Project Close-Out Standards: The subrecipient shall make every reasonable effort to complete all project activities and request appropriate reimbursements within the time period specified in the project agreement and TAC 9.136, Suspension or Termination for Cause: On termination of a subgrant, the unexpended and unobligated funds awarded to the subgrantee immediately revert to the department (TxDOT).
Per Texas Administrative Code (TAC) 31.47, Audit and Project Close-Out Standards: The subrecipient shall make every reasonable effort to complete all project activities and request appropriate reimbursements within the time period specified in the project agreement.
Pricing Arrangement for Projects & Project Close-Out Depending on the nature of each project, projects awarded under this Agreement will be awarded on a fixed price or expenditure basis, i.e., where payments are exclusively or primarily based on amounts generated from the awardee’s financial or cost records.
Phase: No more than 25% of the actual Architect Fee, as determined under Exhibit “A” to this AGREEMENT and the accepted bid, to be paid monthly based on actual level of completion Project Close-Out Phase: Balance of actual Architect Fee to be paid after the all the Project Close-Out Phase requirements set forth in Article II have been completed and the PROJECT is certified by DSA and the Notice of Completion has been recorded.
At the onset of the Project Close-Out Period, the Contractor shall include Project Close-Out status reporting in the Weekly Status Report.
More Definitions of Project Close-Out
Project Close-Out. The final stage of the project includes an introduction and transition to the Customer Support team and the Customer Success team. During transition, the project managers will work together to conduct an audit of tasks and deliverables associated with the project. Any mutually agreed upon delayed deliverables will be scheduled for post go-live and documented. Any contracted post go-live activities will be reviewed and scheduled as necessary before transition to Customer Support. CentralSquare Professional Service Consultants and Project Manager follow a standard implementation approach divided into stages throughout the course of the project. Several types of services and resources (defined herein) will be used during each stage to complete the necessary steps for successful deployment of the contracted services. The Services aligned to implementation include Consulting, Technical and Installation, Data Conversion, and Training. The implementation methodology is a four-stage approach that includes: Analysis: During this stage of the implementation, CentralSquare Consultants will meet with the Customer’s functional experts to review the current workflows of key functions impacted by this project and the contract software. Decisions related to configuration will be documented in the CentralSquare Decision Workbooks for each major product and delivered to the customer for review and concurrence. Where necessary, CentralSquare Data Conversion Specialists will meet with the data experts from the Customer and review the contracted elements for conversion. Deliverables during this stage include the Decision Workbooks for each product and the data mapping for conversion.
Project Close-Out means the activities undertaken after Construction is determined to be substantially complete to secure City and Other Regional Partner sign-off on the Project and use of its share of Local Matching Funds.
Project Close-Out. Upon completion of the work and after all items on the punch list have been addressed, the Fountainhead Team issues a letter of acceptance and formally relieve the Contractor of any further responsibility for the project. The project close-out phase includes:
Project Close-Out means the date that (i) all permits and approvals for operation of any Facility have been obtained; (ii) all contractors, subcontractors, suppliers, architects and others who perform work have been paid in full; (iii) the Date of Provisional Acceptance has occurred and (iv) all punchlist items have been completed.
Project Close-Out means the activities required to complete a Project after the Works have been Taken into Use;
Project Close-Out means all completion documentation has been received and approved by the Department prior to May 30th, which is 35 months from July 1st.
Project Close-Out means the point in time when all of the following have occurred (collectively, the "Project Close-Out"): (a) all of the conditions have been satisfied in order for "Placement in Service" to occur under Section 5.2.2 of the Development Agreement dated as of December 23, 2002 (the "Development Agreement") between the Company and Armada/▇▇▇▇▇▇▇ Development Company, L.L.C. (the "Developer"), and (b) any and all disputes with the Developer, the General Contractor (as defined in the Development Agreement), and all other contractors and subcontractor relating to the construction and development of the Project have been settled and final payments of the "Development Fee" and all other costs and expenses shown on the current "Approved Budget" (as those terms are defined in the Development Agreement) have been paid (including any retainage amounts). The Developer shall be entitled to request and receive from the Escrow monthly disbursements of funds (upon complying with the Project Loan draw procedures set forth in the Development Agreement) in order to pay actual development costs and expenses incurred which are shown on the current Approved Budget but which were not paid or payable prior to Closing. Once Project Close-Out has occurred, if the total costs and expenses that were incurred in order for Project Close-Out to occur is less than the total costs and expense shown on the current Approved Budget (such difference being hereinafter referred to as the "Cost Savings"), then the Acquirer agrees to cause the Company to pay to the Contributor from the Escrow 50% of the Cost Savings within thirty (30) business days after Project Close-Out occurs. If the amount available in the Escrow for distribution to the Contributor is insufficient to pay the Contributor 50% of the Cost Savings, then the Acquirer shall pay such insufficient amount to the Contributor (in the form of Units provided the Contributor continues to be an accredited investor at such time, or in cash if the Contributor is not an accredited investor at such time) within thirty (30) business days after Project Close-Out occurs.