Retention Sum definition

Retention Sum means an amount equal to 40% of the Renewal Amount from time to time.
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Retention Sum means an amount equal to R20 000 (twenty thousand Rand), which amount forms part of the Contract Sum;
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Retention Sum means $3,100,000.
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Examples of Retention Sum in a sentence

  • A percentage of the sum of total additions above will be retained (as the Retention Sum) and released after the end of Defects Liability Period or when the Contractor rectified all the shortfall(s) including work that is not done according to this contract and any other breach of contract by the Contractor identified by the Contract Administrator.

  • Principal’s payment of any tax invoice (whether it be in respect of a progress claim or for any or all of the Retention Sum); is provisional only and does not constitute the Principal’s or Superintendent’s approval or acceptance of any Works.

  • The explanation towards the international and domestic press are deemed to be less relevant than documents for internal use, specifically those aimed at direct policy implementation.

  • The Contractor is not entitled to interest earned or accrued on any monies held as the Retention Sum.

  • Subject to Clauses 3.12(j), 3.12(k), 3.12(l) and 3.17(c)(v), the Principal may withhold from the Contractor the Retention Sum or any portion of it.


More Definitions of Retention Sum

Retention Sum means an amount equal to R20 000.00 (Twenty Thousand Rand), which amount forms part of the Contract Sum;
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Retention Sum means the sum of £2,000,000 to be paid by the Warrantors into the Retention Account at Completion in accordance with the Put Option Sale Agreement
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Retention Sum means the sum of Ringgit Malaysia Six Hundred Twenty Two Thousand and Five Hundred (RM622,500.00) only representing three per centum (3%) of the Purchase Price;
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Retention Sum shall have the meaning set out in Schedule 7.
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Retention Sum means the sum of £11,956,000 or such lesser sum determined in accordance with the terms of this agreement;
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Retention Sum means the sum retained by the Purchaser’s lender under clause 7;
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Retention Sum means the sum of £1,000,000.00 to be paid into the Sterling Nominated Retention Account in accordance with clause 6 S & I Properties means Switchgear and Instrumentation Properties Limited (No. 5464761)
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