Substantial Completion Payment Amount definition

Substantial Completion Payment Amount means an amount, which shall not be less than Zero Dollars ($0), equal to (i) the unpaid portion of the Purchase Price, minus (ii) any outstanding amount claimed by Xxxxx, in a notice of indemnity claim delivered to Seller pursuant to Article XXIV (Indemnification), minus (vi) any amounts due by Seller to Buyer under this Agreement or any Ancillary Agreement and unpaid as of the Substantial Completion Payment Date, minus (vii) the Punchlist Holdback Amount.
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Substantial Completion Payment Amount means an amount, which shall not be less than Zero Dollars ($0), equal to (i) the unpaid portion of the Purchase Price, minus (ii) any outstanding amount claimed by Buyer, in a notice of indemnity claim delivered to Seller pursuant to Article XXIV (Indemnification), minus (vi) any amounts due by Seller to Buyer under this Agreement or any Ancillary Agreement and unpaid as of the Substantial Completion Payment Date, minus (vii) the Punchlist Holdback Amount.
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Substantial Completion Payment Amount means the amount determined by subtracting from the Contract Price as at the end of the Payment Period which ends immediately prior to the Substantial Completion Date, the following amounts (without duplication):‌
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Examples of Substantial Completion Payment Amount in a sentence

  • By executing a Change Order, Seller thereafter waives the right to assert any further claim for an extension to the Guaranteed Substantial Completion Date (or any dates that are a function of the Guaranteed Substantial Completion Date), or an increase to the Purchase Price (including by modification of the Substantial Completion Payment Amount), or any other compensation, relief, or right or remedy based on, arising out of, or relating to the subject matter of, or the claim addressed by, such Change Order.

  • By executing a Change Order, Seller thereafter waives the right to assert any further claim for an extension to the Guaranteed Substantial Completion Date (or any dates that are a function of the Guaranteed Substantial Completion Date), or an increase to the Purchase Price (including by modification of the Substantial Completion Payment Amount), or any other compensation, relief or right or remedy based on, arising out of or relating to the subject matter of, or the claim addressed by, such Change Order.

  • By executing a Change Order, Seller thereafter waives the right to assert any further claim for an extension to the Guaranteed Substantial Completion Date, or an increase to the Purchase Price (including by modification of the Substantial Completion Payment Amount), or any other compensation, relief or right or remedy based on, arising out of or relating to the subject matter of, or the claim addressed by, such Change Order.

  • CLOSING; PURCHASE PRICE; PAYMENT OF SUBSTANTIAL COMPLETION PAYMENT AMOUNT AND PUNCHLIST HOLDBACK AMOUNT 117 Section 17.1. Closing 117 Section 17.2. Seller Closing Deliverables 117 Section 17.3. Buyer Closing Deliverables 118 Section 17.4. Purchase Price 119 TABLE OF CONTENTS (continued) Page Section 17.5. Proratable Tax Items 119 Section 17.6. Other Purchase Price Adjustments 119 Section 17.7. Procedures for Closing and Post-Closing Adjustments 120 Section 17.8. Substantial Completion Payment Amount.

  • The Province shall be entitled to hold back from the Substantial Completion Payment Amount the amount permitted by Section 12.7 [Holdbacks for Deficiencies in Work] on account of any defects or deficiencies in the Work as identified on the Final Deficiency List signed by the Independent Certifier pursuant to Article4.1.2.6(b)(i) of this Part 3.

  • Any failure by the Primary Contractor to deliver a deliverable required by thisArticle 3 [Completion Deliverables] prior to Substantial Completion shall be deemed to be a deficiency in the Work and the Province shall be entitled to hold back from the Substantial Completion Payment Amount the amount permitted by Section 12.7 [Holdbacks for Deficiencies in Work] on account of any such deficiency.

Related to Substantial Completion Payment Amount

  • Completion Payment means the payment for the 20% of the Charges for each Apprenticeship that under the ESFA Rules is only paid once an Apprentice takes their end point assessment, including as the case may be Apprenticeships funded by Transferred Levy Funds;

  • Substantial Completion Date means the date on which Substantial Completion occurs.

  • Final Completion Date means the date on which Final Completion occurs.

  • project completion period means the period of sixty (60) months commencing from and expiring on for the construction and obtaining of Temporary Occupation Permit or Permits for the whole of the Development as provided in clause 3.3;

  • Final Completion Certificate has the meaning set forth in Section 11.6.

  • Guaranteed Substantial Completion Date or “Guaranteed Substantial Completion Dates” has the meaning set forth in Section 5.3B.

  • Final Completion means the date determined and certified by A/E and Owner on which the Work is fully and satisfactorily complete in accordance with the Contract.

  • Substantial Completion Certificate means the certificate issued and approved by the Authority indicating the date upon which the Trade Contractor Work (or a designated portion thereof) is Substantially Complete.

  • Substantial Completion means the stage in the progress of the work as determined and certified by the Contracting Officer in writing to the Contractor, on which the work (or a portion designated by the Government) is sufficiently complete and satisfactory. Substantial completion means that the property may be occupied or used for the purpose for which it is intended, and only minor items such as touch-up, adjustments, and minor replacements or installations remain to be completed or corrected which:

  • Project Completion Date means the date on which the Completion Certificate is issued;

  • Completion Date means the date of completion of the Services by the Service Provider as certified by the Procuring Entity

  • Completion Period means the period starting from the date of issue of "Order" and required to complete the work in all respect.

  • Target Completion Date has the meaning given such term in Section 3.3(b).

  • Construction Completion Date means the date by which the overall development of the Project is completed in accordance with the provisions of this Agreement and when the Construction Completion Certificate is issued by the Independent Engineer as per Article 14.1.

  • Completion Notice means a notice issued by the Developer in accordance with clause 6.1.

  • The Completion Date means the date of completion of the Works as certified by the Employer’s Representative.

  • Production Payment means a production payment obligation (whether volumetric or dollar denominated) of the Borrower or any of its Restricted Subsidiaries which are payable from a specified share of proceeds received from production from specified Oil and Gas Properties, together with all undertakings and obligations in connection therewith.

  • Scheduled Completion Date shall be the date set forth in Clause 10.3;

  • Completion Rate means the percentage of an apprenticeship cohort who receives a certificate of apprenticeship completion within 1 year of the projected completion date. An apprenticeship cohort is the group of individual apprentices registered to a specific program during a 1 year time frame, except that a cohort does not include the apprentices whose apprenticeship agreement has been cancelled during the probationary period or who have transferred.

  • Construction Completion Certificate means a document:

  • Project Milestone means the project milestone set forth in Schedule-J;

  • Virtual Completion means the premise is in the opinion of the Employer fit for occupation.

  • Project Revenue means all net rents, proceeds, revenue and other income derived by the City by virtue of any lease, sale, conveyance or other disposition of any part of the Project, plus all sums received by the City as a result of damage to or destruction or condemnation of the Project, but shall not mean any part of the Tax Revenue.

  • Project Completion Schedule means the progressive Project Milestones set forth in Schedule-J for completion of the Project Highway on or before the Scheduled Completion Date;

  • Subproject means a development activity proposed by a Beneficiary under Part A.2 (d) of the Project and financed or to be financed through a Subproject Grant (as hereinafter defined) made out of the proceeds of the Development Credit;

  • Substantial Amount means any securities of the Corporation having a then fair market value of more than $500,000.