Completion Risk Sample Clauses

Completion Risk. The Proposed JV is conditional upon the Proposed Development. There is no assurance that the Proposed Development can be completed within the time schedule permitted, as disclosed in Section 4.5 above. In the event that the 4 Components are not constructed according to the minimum time period, the Company may incur liquidated damages as stipulated in the DRA. In addition, the Company is liable to pay Seriemas the Minimum Revenue Guarantee of up to RM75 million regardless of the progress of the construction of the Development Land as disclosed in Section 3.2 above. In this regard, the Board shall endeavour to ensure that the components are constructed within the time period agreed upon in the DRA and the JVA.
Sample 1
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Completion Risk. The Proposed Acquisition is subject to the Conditions Precedent stated in the Agreement. There is no assurance that the Proposed Acquisition could be completed with the timeframe as prescribed under the Agreement. The Board will take reasonable steps to ensure that such Conditions Precedent are met and fulfilled within the prescribed timeframe, besides ensuring every effort is made to obtain all the necessary approvals in order to complete the Proposed Acquisition in a timely manner.
Sample 1
Completion Risk. The completion of the Proposals may be subject to some external factors and risks, such as, failure to obtain approval from BKPM for the issuance of New Shares and New Additional Shares to Miasa.
Sample 1
Completion Risk. The completion of the JV for the development of Lot B Lands into Commercial Development is subject to the fulfilment of the Conditions Precedents as set out in Appendix II of this announcement, which may be beyond the control of SASB or Xxxxxxx such as failure to obtain the approval from the Lands and Surveys Department, for the amalgamation, subdivision and conversion of the land titles in Lot B Lands from NT into CL Titles or to effect the title transfer from NT to CL within twelve (12) months from the Transfer of Lot Lands (as defined in Appendix II). In the event any of the Conditions Precedents is not fulfilled, the JVA – Lot B Lands will lapse and Xxxxxx will be unable to complete the Proposed JV Ratification – Lot B Lands. To mitigate such risks, the Board will take reasonable steps to ensure that the Conditions Precedents are met within the stipulated timeframe in order to complete the Proposed JV Ratification – Lot B Lands in a timely manner.
Sample 1
Completion Risk. The completion of the development of the Project may be subject to risks beyond the control of Sunsuria Group including, among others, obtaining the approvals from the relevant authorities for the development of the Project, the uncertainty of the property market due to economic conditions and the increase in costs of the development. Nevertheless, with the Group’s past experience and expertise in the property sector, the Board will use its best endeavours to ensure such risks are mitigated through, inter alia, obtaining all necessary approvals from the relevant authorities for the development of the Project, diligently monitoring the development and changes of the Malaysian property market as well as careful planning and proactive and close monitoring of the progress of the development of the Project.
Sample 1
Completion Risk. There is a possibility that the Project may not be completed within the time stipulated in the JDA due to various factors such as labour and material supply shortages, the non- performance or unsatisfactory performance of contractors and subcontractors, natural disasters, accidents, failure or postponement in the issuance or granting of licences, permits and approvals. Construction delays, loss of revenue and cost over-runs are likely to result from such events which could in turn, adversely affect the business, operations and financial performance of PLB. Nevertheless, the Board will endeavour to mitigate these risks through, amongst others, appointment of experienced and reputable EPC company as the main turnkey sub- contractor, close monitoring of the progress of the Project and prompt rectification of any setback in order to ensure that the Company’s performance is not materially and adversely affected.
Sample 1

Related to Completion Risk

  • Project Completion Part 1 – Material Completion

  • Completion Date The Work under this Contract shall be completed by midnight of the date required in the Contract as the Material Completion and Occupancy Date unless extended by approved requests for extension of time.

  • Substantial Completion “Substantial Completion” means the stage in the progress of the Work when the Work, or designated portions thereof, may still require minor modifications or adjustments but, in the Owner’s opinion, the Work has progressed to the point such that all parts of the Work under consideration are fully operational and usable for intended purposes, as evidenced by a Certificate of Substantial Completion approved by the Owner. If a Certificate of Occupancy is required by public authorities having jurisdiction over the Work, said certificate shall be issued before the Work or any portion thereof is considered substantially complete. When the Contractor considers that the Work, or a portion thereof which the Owner agrees to accept separately, is substantially complete, the Contractor shall notify Owner’s Designated Representative (sometimes referred to as the “ODR”) and request a determination as to whether the Work or designated portion thereof is substantially complete. If the ODR does not consider the Work substantially complete, the ODR will notify the Contractor giving reasons therefore. Failure on the Owner’s part to list a reason does not alter the responsibility of the Contractor to complete all Work in accordance with the terms of this Agreement. After satisfactorily completing items identified by Owner’s Designated Representative, the Contractor shall then submit another request for the ODR to determine Substantial Completion. If The ODR considers the Work substantially complete, The ODR will prepare and deliver a certificate of Substantial Completion which shall establish the date of Substantial Completion, shall include a punch list of items to be completed or corrected before final completion and final payment, shall establish the time within which the Contractor shall finish the punch list, and shall establish responsibilities of the Owner and the Contractor for security, maintenance, heat, utilities, damage to the Work, warranty and insurance. Failure to include an item on the punch list does not alter the responsibility of the Contractor to complete all Work in accordance with the terms and conditions of this Agreement. The certificate of Substantial Completion shall be signed by the Owner and the Contractor to evidence acceptance of the responsibilities assigned to them in such certificate. Substantial Completion (as defined in this agreement) for all stages of the Work shall be achieved on or before the following Substantial Completion date: DATE FOR SUBSTANTIAL COMPLETION: TBD Under no circumstances will the time for Substantial Completion exceed this date without a written amendment to this Agreement. THE TIMES SET FORTH IN THE CONSTRUCTION DOCUMENTS ARE AN ESSENTIAL ELEMENT OF THE AGREEMENT. TIME LIMITS STATED IN THE CONTRACT DOCUMENTS ARE OF THE ESSENCE OF THIS AGREEMENT.

  • Completion of Punch List items 14.4.1 All items in the Punch List shall be completed by the Concessionaire within 90 (ninety) days of the date of issue of the Provisional Certificate and for any delay thereafter, other than for reasons solely attributable to the Authority or due to Force Majeure, the Authority shall be entitled to recover Damages from the Concessionaire to be calculated and paid for each day of delay until all items are completed, at the lower of (a) 0.1% (zero point one per cent) of the Performance Security, and (b) 0.2% (zero point two per cent) of the cost of completing such items as estimated by the Independent Engineer. Subject to payment of such Damages, the Concessionaire shall be entitled to a further period not exceeding 120 (one hundred and twenty) days for completion of the Punch List items. For the avoidance of doubt, it is agreed that if completion of any item is delayed for reasons solely attributable to the Authority or due to Force Majeure, the completion date thereof shall be determined by the Independent Engineer in accordance with Good Industry Practice, and such completion date shall be deemed to be the date of issue of the Provisional Certificate for the purposes of Damages, if any, payable for such item under this Clause 14.4.1.

  • Project Completion Date It is agreed between the Parties that the Project Completion Date is <END DATE, YEAR>. If the Project is not completed by such date then, subject to an amendment agreed to between the Parties, Alberta Innovates may elect to terminate this Investment Agreement. In such event, Alberta Innovates will notify the Applicant of its decision to terminate as soon as reasonably practical and shall advise the Applicant of the effective date of termination. Alberta Innovates will have no liability or obligation to reimburse the Applicant for any Project Costs incurred after the effective date of termination and may require the Applicant to return any portions of the Investment which were spent on Ineligible Expenses. Additionally, any portion of the Investment not used and accounted for in accordance with this Agreement as of the Project Completion Date or earlier termination is repayable by the Applicant to AI at AI’s request.

  • Completion of the Project The Contracting Party shall complete the construction, equipping and furnishing of the Improvements in accordance with the Plans and submit to the Board a Certificate of Completion on or before November 1, 2016.

  • Construction Completion The related Construction shall have been completed substantially in accordance with the related Plans and Specifications, the related Deed and all Applicable Laws, and such Leased Property shall be ready for occupancy and operation. All fixtures, equipment and other property contemplated under the Plans and Specifications to be incorporated into or installed in such Leased Property shall have been substantially incorporated or installed, free and clear of all Liens except for Permitted Liens.

  • Completion of Work Contractor is accountable for completing the Work within the Contract Time stated in the Contract, or as otherwise amended by Change Order.

  • Construction Work The regulation at 41 C.F.R. § 60-1.3 defines “construction work” as the construction, rehabilitation, alteration, conversion, extension, demolition or repair of buildings, highways, or other changes or improvements to real property, including facilities providing utility services. The term also includes the supervision, inspection, and other onsite functions incidental to the actual construction.

  • Substantial Completion Date Substantial Completion of the Work as defined in Article 6.1.2 of the General Conditions to the Continuing Contract for Construction Management shall be achieved by July 31, 2022.

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