Punchlist Holdback Amount definition
Punchlist Holdback Amount means the sum of (i) one hundred seventy-five percent (175%) of the aggregate cost to complete the Punchlist Items identified on the Punchlist plus (ii) [ ].28
Punchlist Holdback Amount shall have the meaning set forth in Section 20.3(b).
Punchlist Holdback Amount means the sum of (i) one hundred seventy-five percent (175%) of the aggregate cost to complete the Punchlist Items identified on the Punchlist plus (ii) [ ].30 29 NTD: ▇▇▇▇▇’s preference is for all the component parts of this definition (i.e., “Owned Real Property,” “Leased Real Property,” and “Easements”) to have been obtained by Seller, or be under Seller’s control, as of the Effective Date. The Agreement generally assumes that those component parts have been so obtained. Some projects may not be developed to the point where the “Owned Real Property,” “Leased Real Property,” and “Easements” have been obtained by Seller, or are under Seller’s control, by the Effective Date. For those transactions, the representations and warranties, the timing around the title commitment, and other provisions of the Agreement related to the component parts will or may require modification. Additional refinements to the Agreement’s real property provisions may be necessary depending on the underlying facts.
Examples of Punchlist Holdback Amount in a sentence
Upon achievement of Final Completion, Contractor shall submit to Owner a Milestone Payment Invoice for all remaining amounts due to it pursuant to this Agreement, including any remaining Punchlist Holdback Amount (the “Final Payment Invoice”).
Prior to Substantial Completion, Contractor shall submit its good faith proposal, for Owner’s review and written approval, of the Punchlist, including the schedule for completion of each item included therein, and the Punchlist Holdback Amount.
More Definitions of Punchlist Holdback Amount
Punchlist Holdback Amount means an amount equal to two hundred percent (200%) of the aggregate value of the items on the Punchlist as mutually agreed to between Owner and Contractor at Substantial Completion.