Remaining Works definition
Examples of Remaining Works in a sentence
All interest earned on such cash proceeds shall be for the benefit of Project Co. Contracting Authority shall be entitled to withdraw such cash proceeds in the same manner that it is permitted to draw upon the Remaining Works Warranty Letter of Credit under Section 11.18B(d).
Each Product warranty and equipment warranty shall be issued by the applicable manufacturer and delivered to Project Co no later than 30 days prior to (i) in the case of New Metrolinx Infrastructure and New Third Party Infrastructure other than the Remaining Works, the Substantial Completion Date, and (ii) in the case of the Remaining Works, the Final Completion Date.
All interest earned on such cash proceeds shall be for the benefit of Project Co. Contracting Authority shall be entitled to withdraw such cash proceeds in the same manner that it is permitted to draw upon the Remaining Works Letter of Credit under Section 11.18A(d).
Said TVET college, Phase 1A and 1B is an ongoing development undertaken by ICA of which the Developer has no legal obligation for the completion of the Remaining Works.
Unless STEGH receives the Remaining Works Letter of Credit, STEGH may use the Remaining Works Cash Amount in the place of, in the same manner as and for the same purpose as the Remaining Works Letter of Credit.
Upon the delivery of a replacement Remaining Works Warranty Letter of Credit by Project Co to Contracting Authority, all remaining cash proceeds and all accrued interest thereon from such segregated bank account shall be returned to Project Co or as Project Co may direct within five Business Days after the delivery of such replacement Remaining Works Warranty Letter of Credit by Project Co to Contracting Authority.
Until receipt of the Remaining Works Letter of Credit, the City may use the Remaining Works Cash Amount in the place of, in the same manner as and for the same purpose as the Remaining Works Letter of Credit.
If the Remaining Works Letter of Credit has not been delivered to STEGH at least 2 Business Days prior to the Substantial Completion Payment Date, STEGH shall withhold from the Substantial Completion Payment a holdback amount of [REDACTED]% of the cost of the Remaining Works (the “Remaining Works Cash Amount”).
The applicable Warranty Period shall be extended for a further one year in respect of Warranty Work relating to Remaining Works, and two years in respect of all other Warranty Work, in each case from the date of the last Warranty Work completed and accepted by Contracting Authority in respect of the New Metrolinx Infrastructure and by the applicable third party owner in respect of the New Third Party Infrastructure.
It is a condition to the payment of the Substantial Completion Payment that STEGH has the Remaining Works Security.