Project Final Completion definition

Project Final Completion. [INSERT DATE] $ per day It is further agreed that Contractor's payment of, or agreement to pay, Liquidated Damages and Owner's acceptance of such payment or acceptance of the agreement to pay Liquidated Damages for any specific period of delay shall in no way affect Owner's rights to terminate the Contract for default for any subsequent delay or to otherwise pursue any available legal remedies and recovery of damages, such rights being expressly reserved by the Owner. ARTICLE XXIII.‌‌

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Project Final Completion refers to the completion of the Improvements, and shall mean and be effective at such time as (a) the satisfactory lien-free completion of all Improvements substantially in accordance with the Drawings and Specifications (including punchlist items), as evidenced by (i) final lien waivers by all Contractors (and, if applicable, the consent of each surety which shall have issued a performance and payment bond for the benefit of Owner or Development Manager with respect to the Project), (ii) an affidavit from the General Contractor substantially in the form of AIA document G704, and (iii) such other affidavits, waivers and releases from the General Contractor and/or the Contractors as Owner and its title insurer or Construction Lender may reasonably require in order to assure lien free completion of the Project (including any equitable lien claims), and (b) the receipt by Owner (or by Development Manager on behalf of Owner) of all final certificates of occupancy necessary for occupancy of all of the Project), (c) the receipt by Owner (or by Development Manager on behalf of Owner) of six copies of a final “as-built” survey, a final record set of Drawings and Specifications showing actual changes made during construction, and all warranties and operation manuals for all equipment, appliances and other components contained in the Project, (d) the General Contractor has completed its final site cleanup and restoration, including, without limitation, removal of all excess materials, rock, sand, paving, and miscellaneous debris, supplies, equipment and trailers; and (e) all temporary utilities are disconnected.

Project Final Completion means completion of the Project Implementation Work in compliance with the Contract Documents and the requirements of Section 7.8 (Project Final Completion)

Examples of Project Final Completion in a sentence

• The WPS must identify all major milestones through Project Final Completion.

• The CPM Schedule must identify all major milestones through Project Final Completion.

• With respect to the same work, the CM further agrees to correct or replace as necessary all work found by the Owner to be defective in material and workmanship or not in conformance with the Project Plans and Specifications for a period of one year from the Project Final Completion Date.

• The CM warranty shall commence on the Project Final Completion Date.

• Also, the CM shall conduct, jointly with the Owner and the AE, a warranty inspection eleven (11) months after the Project Final Completion Date.

• Seller hereby covenants and agrees to use Commercially Reasonable Efforts to achieve Project Final Completion in accordance with the Scope of Work, the Final Drawings & Specifications, the Material Project Contracts, Laws, Prudent Industry Practices, and all other applicable terms and provisions of this Agreement (collectively, the “Requirements”).

• Causes of action between the Parties to this Agreement pertaining to acts or failures to act will be deemed to have accrued and the applicable statutes of limitations will commence to run not later than either the date of Project Final Completion or, if applicable, the date of a recorded notice of completion, whichever is later.

• Payment terms will be mutually agreed in the Purchase Order and may be milestone based such that payments match cost outflow timing and conditions similar to 20%, 30%, 40%, 10% for Order, Delivery, Project Substantial Completion, Project Final Completion.

• If there is no Retention remaining on the Project, Individual Disputes initiated prior to Project Final Completion shall continue until a final disposition of the Arbitration or resolution of the individual Claim or Dispute.

• The Contract Time is the time allotted in the Milestone Schedule to achieve Project Final Completion.

More Definitions of Project Final Completion

Project Final Completion as used herein is the date established in the Contract Documents, and is the date when the Architect has completed a thorough review of the Construction Manager’s Final Application for Payment. Upon doing so, the Architect will issue a Certificate of Final Inspection indicating that the Construction Manager has met all contractual obligations.

Project Final Completion means (i) the satisfactory lien-free completion of the Expansion in accordance with the Drawings and Specifications (including punchlist items), as evidenced by Affidavits of Completion in the form of Exhibit K attached hereto and final lien waivers by all --------- contractors working on the Expansion and certificates of completion by such architects as may be required by Lessor, and a final endorsement to Lessor's policy of title insurance, and (ii) the receipt by Lessor of all certificates of occupancy necessary for occupancy of all of the Expansion, an as-built survey, a final set of Drawings and Specifications showing actual changes made during construction and the consent of each surety which shall have issued a performance and payment bond for the benefit of Lessor with respect to the Expansion.