Retention Monies definition

Retention Monies means any monies retained by the Principal from Progress Payments in accordance with clauses 29.3.1 and 30;
Retention Monies means the sum of the amount retained in accordance with sub-clause 41.9;
Retention Monies means the sum of the amount retained in accordance with

Examples of Retention Monies in a sentence

  • Article 45: Retention Monies 45.4 The Housing Authority shall retain 10% of the monies due to the Contractor following completion of works and handling over lifts to residents.

  • Any Retention Monies applicable to this contract are to be dealt with in accordance with section 18 of the Construction Contracts Act 2002.

  • The Contractor may at any time lodge with the Principal an unconditional Bank Guarantee or an undertaking (“the Security”) from an approved financial institution or insurance company for an amount equivalent to the limit of Retention Monies specified in clause 29.3.1, whereupon no deductions for Retention Monies will be made from Progress Payments.

  • If the Defects are not remedied to HKPC’s satisfaction, HKPC may employ another contractor or third party to remedy the Defects and HKPC may deduct such expenditure from any Retention Monies.

  • The Retention Monies are to be retained by the Principal for the purpose of ensuring the due and proper performance by the Contractor of all of its obligations under the Contract.

  • Subject to the Contract, the balance of the Retention Monies held by the Principal shall be released to the Contractor within twenty-eight (28) days of the Final Certificate.

  • The Contractor acknowledges and agrees that it is registered for GST and that it will maintain such registration until all Progress Payments and Retention Monies have been paid to the Contractor under the Contract.

  • The maximum period in which payments are to be effected shall be 60 days, failing which the provisions of the Late Payments Directive will come into effect (30 days as per General Conditions).43.3Article 45: Retention Monies 45.2 The percentage of retention monies shall be 5% of contract value.

  • Refer to Attachment D, Inmate Retention Monies, for information on commonly approved Retention Account disbursements.

  • Budget Category (c): Planning/Design/Engineering/Environmental Documentation Task 4: CEQA Documentation A Notice of Exemption was filed in Riverside County in July 2020 for this project.


More Definitions of Retention Monies

Retention Monies are monies still payable to the Supplier by the Customer as part of the Price but withheld until certain conditions stated in the contract are met. The retentions will be stated on a contract to contract basis and normally set at a percentage of the Price agreed between the Supplier and the Customer. This can include, but is not limited to cash retentions, a bank guarantee for percentage of successful commissioning and / or percentage of warranty periods noted in the contract.
Retention Monies means an amount that the Customer may withhold from the total payment due to Vendor Z upon achievement of each Milestone, until completion of the Warranty Period for that Milestone.

Related to Retention Monies

  • Retention Money means the aggregate of amount retained by the Employer as Security Deposit.

  • Retention Date shall have the meaning set forth in Section 9.01 of this Agreement.

  • Retention Account means an interest bearing Dollar account of the Borrowers opened or (as the context may require) to be opened jointly by the Borrowers with the Account Bank and includes any sub-accounts thereof and any other account designated in writing by the Agent to be a Retention Account for the purposes of this Agreement;

  • Retention Bonus means the amount equal to:

  • Escrow Cash is defined in Section 4.1(a).

  • Earnings Accounts means the bank accounts of each of the Obligors from time to time each of which shall be held with the Agent or any of the Agent’s corresponding banks and to which all the Earnings and any proceeds of the Insurances shall be paid.

  • Retention Period has the meaning set forth in Section 6.02.

  • Escrow Property means the Escrow Funds and the Certificates delivered to the Escrow Agent as contemplated by Section 1(c) hereof.

  • Retention Amount means, in relation to any Retention Date, such sum as shall be the aggregate of:

  • Risk Retention Letter As described in the Offering Circular, that certain letter agreement entered into by Xxxxxxx Mac, dated as of the Closing Date.

  • Client Accounts means accounts of Clients (i) that are Controlled by an Access Person and (ii) in which no Access Person has a substantial proportionate economic interest; provided that, the Client pays a management, advisory or any other similar arms-length fee to the Access Person and the beneficiary of the Client Account is not an Immediate Family member of an Access Person.

  • Requisition Compensation includes all compensation or other moneys payable by reason of any act or event such as is referred to in paragraph (b) of the definition of “Total Loss”;

  • Earnings Account means, in relation to a Ship, an account in the name of the Owner owning that Ship with the Agent in Hamburg designated “[name of relevant Owner]—Earnings Account” or any other account (with that or another office of the Agent) which replaces such account and is designated by the Agent as that Earnings Account for the purposes of this Agreement and, in the plural, means all of them;

  • Indemnity Escrow Account means the escrow account established by the Escrow Agent pursuant to the terms of the Escrow Agreement for purposes of holding the Indemnity Escrow Amount.

  • Escrowed Funds Has the meaning, with respect to any Trust, specified in Section 2.02(b).

  • Client Account means the unique personalized account of the Client consisting of all Completed Transactions, Open Positions and Orders on the Platform, the Balance of the Client money and deposit/withdrawal transactions of the Client money. It is understood that the Company may use the term Trading Account or Account on its Website or communications, which shall mean your Client Account.

  • Escrow Obligations means (a) Government Obligations, (b) certificates of deposit issued by a bank or trust company which are (1) fully insured by the Federal Deposit Insurance Corporation or similar corporation chartered by the United States or (2) secured by a pledge of any Government Obligations having an aggregate market value, exclusive of accrued interest, equal at least to the principal amount of the certificates so secured, which security is held in a custody account by a custodian satisfactory to the Registrar or the Registrar, as the case may be, or (c)(1) evidences of a direct ownership in future interest or principal on Government Obligations, which Government Obligations are held in a custody account by a custodian satisfactory to the Registrar pursuant to the terms of a custody agreement in form and substance acceptable to the Registrar and (2) obligations issued by any state of the United States or any political subdivision, public instrumentality or public authority of any state, which obligations are fully secured by and payable solely from Government Obligations, which Government Obligations are held pursuant to an agreement in form and substance acceptable to the Registrar and, in any such case, maturing as to principal and interest in such amounts and at such times as will insure the availability of sufficient money to make the payment secured thereby.

  • Retention means a system designed to prevent the discharge of a given volume of stormwater runoff into surface waters in the state by complete on-site storage. Examples are systems such as excavated or natural depression storage areas, pervious pavement with subgrade, or above ground storage areas.

  • Severance Benefits mean the payment of severance compensation as provided in Section 2.3 herein.

  • Escrow Fund has the meaning ascribed to it in Section 7.2(a).

  • Risk Retention Consultation Party means each risk retention consultation party appointed pursuant to the Lead Securitization Servicing Agreement.

  • Escrow Amount has the meaning set forth in Section 2.1(c).

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Escrow Deposit shall have the meaning set forth in Section 2.2(a).

  • Severance Payments shall have the meaning set forth in Section 6.1 hereof.

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.