Punch List Costs definition
Punch List Costs means the costs required to complete work on all Punch List Items;
Punch List Costs has the meaning set forth in the definition of “Tiered Capital Call”; provided, however, that such term shall also include all costs and expenses associated with the transfer, assignment or conveyance of any Project Assets or Project Contracts from the Project Manager to the Company following Project COD pursuant to the Project Management Agreement to the extent such Project Assets or Project Contracts were acquired or entered into prior to Project COD.
Examples of Punch List Costs in a sentence
Within 15 days after the completion of the Punch List Items Opco shall deliver to the Partnership and NLH written notice setting out the Actual Punch List Costs and whether the Actual Punch List Costs are (i) greater than the Punch List Cost Estimate (a “Punch List Cost Deficiency”), or (ii) less than the Punch List Cost Estimate (a “Punch List Cost Surplus”).
As used herein, Owner Punch List Costs shall mean the amount, reasonably determined by the primary architect for the Project and JTM Construction, Inc., as the general contractor for the Project, and thereafter reasonably approved by Seller and Purchaser, which is estimated to be necessary to complete the Owner Punch List Items.