Warranty Retention definition

Warranty Retention means the amount standing to the credit of the Warranty Retention Account from time to time;
Sample 1
Warranty Retention means the amount standing to the credit of the Warranty Retention Account from time to time; “Warranty Retention Account” means the account defined in clause 9.1; and
Sample 1

Examples of Warranty Retention in a sentence

  • Please confirm that the 10% Warranty Retention under 10.1 of page 53 is typo error.

  • Completion of the sale and purchase of the Berlin Property shall be the date of the full payment of the Purchase Consideration (including the payment of the Security Sum from the notary account to the Vendor, but less the Warranty Retention Sum).

  • The instructions given to Bank of Scotland on the setting up of the Warranty Retention Account shall include an instruction that no sums may be released from the Warranty Retention Account at any time without the authority of the Purchaser’s Solicitors and the Sellers’ Solicitors and otherwise the operation of the Warranty Retention Account by the Seller’s Solicitors and the Purchaser’s Solicitors shall be governed by the Account Management Agreement.

  • The remaining 2.5% out of the 5% Warranty Retention shall be paid after the Defects Liability Period of 12 months has expired and the Final Completion Certificate by the UNESCO site Senior Management has been issued1.

  • The final Purchase Consideration (less the Warranty Retention Sum (as defined below)) payable to the Vendor upon completion shall be net of this Security Sum.(ii) An amount of €668,000 (the “Warranty Retention Sum”) will be retained by the Purchasers to secure the carrying out by the Vendor of certain technical works and repair measures (which includes the technical separation of the Berlin Property from an adjacent property).

  • Tender/bid, Advance payment, Performance, Warranty Retention, Tax, Rental.

  • Purpose of BG Issued:Performance Bond Bid/Tender Bond Utility Advance Payment Bond Security Deposit Bond Warranty Retention Money Payment/Financial Others:Guarantee2.

  • Warranty, Retention or Maintenance Bond Received Warranty, Retention or Maintenance Bond Period Close Reminder Docketed?1 Warranty/Retention/Maintenance Bond Instructions: 1 It is recommended to docket a reminder for this deadline at least 60 days prior to the deadline.Exhibit H: Subcontractor ListingAny subcontractors that are proposed to be utilized in the performance of this Agreement, either as subcontractors or materialmen, shall be expressly identified below.

  • The total value of Warranty, Retention Money and Outstanding Liabilities write-back during the financial year is Rs. 2,169.62 Lakhs.The write-back of the provision for warranty and retention money has resulted in a decrease in the liabilities and an adjustment to the provision balances in the financial statements.

  • The Purchase Consideration (less the Warranty Retention Sum) shall be payable fifteen Banking Days18 after the certifying notary has confirmed to the Vendor in writing (or via fax) that all the conditions precedent under the Property SPA have been satisfied (but not before 17 August 2015).

Related to Warranty Retention

  • Insurance Premiums shall have the meaning set forth in Section 6.1(b) hereof.

  • Tax and Insurance Escrow Fund shall have the meaning set forth in Section 7.2 hereof.

  • Casualty Retainage means an amount equal to ten percent (10%) of the costs actually incurred for work in place as part of the Restoration, as certified by the Casualty Consultant, until the Restoration has been completed. The Casualty Retainage shall in no event, and notwithstanding anything to the contrary set forth above in this Section 6.4(b), be less than the amount actually held back by Borrower from contractors, subcontractors and materialmen engaged in the Restoration. The Casualty Retainage shall not be released until the Casualty Consultant certifies to Lender that the Restoration has been completed in accordance with the provisions of this Section 6.4(b) and that all approvals necessary for the re-occupancy and use of the Property have been obtained from all appropriate governmental and quasi-governmental authorities, and Lender receives evidence satisfactory to Lender that the costs of the Restoration have been paid in full or will be paid in full out of the Casualty Retainage; provided, however, that Lender will release the portion of the Casualty Retainage being held with respect to any contractor, subcontractor or materialman engaged in the Restoration as of the date upon which the Casualty Consultant certifies to Lender that the contractor, subcontractor or materialman has satisfactorily completed all work and has supplied all materials in accordance with the provisions of the contractor’s, subcontractor’s or materialman’s contract, the contractor, subcontractor or materialman delivers the lien waivers and evidence of payment in full of all sums due to the contractor, subcontractor or materialman as may be reasonably requested by Lender or by the title company issuing the Title Insurance Policy, and Lender receives an endorsement to the Title Insurance Policy insuring the continued priority of the lien of the Mortgage and evidence of payment of any premium payable for such endorsement. If required by Lender, the release of any such portion of the Casualty Retainage shall be approved by the surety company, if any, which has issued a payment or performance bond with respect to the contractor, subcontractor or materialman.

  • Professional Fee Escrow Account means an interest-bearing account funded by the Debtors with Cash on the Effective Date in an amount equal to the Professional Fee Amount.

  • Bond Insurance Policy means the municipal bond new issue insurance policy issued by the Bond Insurer that guarantees payment of principal of and interest on the Bonds.

  • Insurance Premium means the amount that each Debtor shall pay on a monthly basis to Agos pursuant to the relevant Consumer Loan Agreement, in relation to the insurance premium paid by Agos to the relevant Insurance Company under any Financed Insurance Policy.

  • Insurance Provider s Tender” means the completed Tendering Document submitted by the Insurance Provider to the Procuring Entity

  • 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.

  • Special Primary Insurance Premium With respect to any Special Primary Insurance Policy, the monthly premium payable thereunder. Statutory Trust Statute: Chapter 38 of Title 12 of the Delaware Code, 12 Del.C. §3801 et seq., as the same may be amended from time to time.

  • Special Assessments means any of the following, except as otherwise provided in subsection (6):

  • Professional Fee Escrow means an escrow account established and funded pursuant to section 2.6 of the Plan.

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Professional Fee Escrow Amount means the aggregate amount of Professional Fee Claims and other unpaid fees and expenses Professionals estimate they have incurred or will incur in rendering services to the Debtors prior to and as of the Confirmation Date, which estimates Professionals shall deliver to the Debtors as set forth in Article II.C hereof.

  • Health-care-insurance receivable means an interest in or claim under a policy of insurance which is a right to payment of a monetary obligation for health-care goods or services provided.

  • Insurance premium finance company means a person engaged in the business of

  • Insurance Report means an insurance report in respect of the Insurances confirming that such Insurances are placed with such insurers, insurance companies and/or clubs in such amounts, against such risks and in such form as acceptable to the Agent (acting on the instructions from the Finance Parties) and comply with the requirements under Clause 26.3 (Insurance) and the GIEK Guarantee prepared by Bank Assure Insurance Services Inc., or such other reputable insurance advisor approved by the Agent, and dated on or about the date of this Agreement and addressed to, and capable of being relied upon by, the Finance Parties.

  • Escrow Payments With respect to any Mortgage Loan, the amounts constituting ground rents, taxes, assessments, water rates, sewer rents, municipal charges, mortgage insurance premiums, fire and hazard insurance premiums, condominium charges, and any other payments required to be escrowed by the Mortgagor with the mortgagee pursuant to the Mortgage or any other document.

  • Sanitary Sewer means a sewer which carries sewage and to which storm, surface, and groundwaters are not intentionally admitted.

  • insurance intermediary means any natural or legal person, other than an insurance or reinsurance undertaking or their employees and other than an ancillary insurance intermediary, who, for remuneration, takes up or pursues the activity of insurance distribution;

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • Adjustment Escrow Account means the escrow account established pursuant to the Escrow Agreement in respect of the Adjustment Escrow Amount.

  • Escrow Payment Any payment received by the Master Servicer or the Special Servicer for the account of any Mortgagor for application toward the payment of real estate taxes, assessments, insurance premiums, ground lease rents and similar items in respect of the related Mortgaged Property, including amounts for deposit to any reserve account.

  • Agent Payment Account means account no. 5000000030266 of Agent at Wachovia Bank, National Association, or such other account of Agent as Agent may from time to time designate to Administrative Borrower as the Agent Payment Account for purposes of this Agreement and the other Financing Agreements.

  • Student record means information that constitutes education rec- ords as that term is defined by the Family Educational Rights and Privacy Act of 1974 (20 U.S.C. Section 1232g(a)(4)) [see FL] and information in a record of an applicant for admission to an educa- tional institution, including a transfer applicant.

  • Sanitary Sewage means wastewaters from residential, commercial and industrial sources introduced by direct connection to the sewerage collection system tributary to the treatment works including non-excessive inflow/infiltration sources.

  • Insurance Account shall have the meaning set forth in Section 8.6 hereof.