Punch List. If, at any time after the Project has been Physically Completed, there shall exist any item or items requiring completion or correction, then the Developer agrees to use all reasonable diligence to complete or correct such item or items so that each conforms to the Final Plans. The parties shall make a Punch-List of the items requiring completion or correction (the "Punch List"). Each item on the Punch-List shall be assigned a reasonable value based upon the reasonable cost of completion or correction of the same or such other value as may be required by the Owner's lender ("Punch-List Amount"). The Developer shall give its written undertaking to complete each such item within forty-five (45) days (or such other period of time as is mutually agreed upon by the parties).
Punch List. Upon notification from the Contractor that the Hotel is Substantially Completed and ready for inspection, the Company shall prepare a “punch list” with the assistance of a representative of Buyer and the Franchisor. The Company and the Interest Owners acknowledges that final acceptance of the work on the Hotel shall be made only with the approval of Buyer and the Franchisor. The costs of completing the Punch List Items that are not completed as of the date of Closing, as reasonably estimated by the Interest Owners with the approval of Buyer, such approval not to be unreasonably withheld, plus fifty percent (50%) of such costs, shall be reserved by Buyer from the Purchase Price and shall be disbursed to the Interest Owners only upon Buyer’s reasonable determination that all of the Punch List Items have been satisfactorily completed. The Interest Owners shall correct or complete all Punch List Items, or cause the same to be corrected or completed, at their expense, with all diligence and in any event within sixty (60) days after Substantial Completion of the Hotel.
Punch List. Developer shall notify the Architect when Xxxxxxxxx considers the Work complete. Upon notification, Architect will prepare a list of minor items to be completed or corrected (“Punch List”). Developer and/or its Subcontractors shall proceed promptly to complete and correct items on the Punch List. Failure to include an item on Punch List does not alter the responsibility of Developer to complete all Work in accordance with the Contract Documents.
Punch List. In addition to and notwithstanding anything to the contrary in Paragraph 6.A above, Tenant shall have thirty (30) days after the Commencement Date to provide Landlord with a written “punch list” pertaining to defects in the Tenant Improvements constructed by Landlord for Tenant. As soon as reasonably possible after timely receipt of the punch list, Landlord (or one of Landlord’s representatives if so approved by Landlord), and Tenant shall conduct a joint walk-through of the Premises (if Landlord so requires), and inspect such Tenant Improvements, using their best efforts to agree on the incomplete or defective construction related to the Tenant Improvements installed for Tenant by Landlord. After such inspection has been completed, Landlord shall prepare, and both parties shall sign, a list of all “punch list” items which the parties reasonably agree are (i) to be corrected by Landlord (but which shall exclude any damage or defects caused by Tenant, its employees, agents or parties Tenant has contracted with to work on the Premises) or (ii) if said defects and/or damaged item(s) are not material, Landlord may elect, in its reasonable discretion, not to repair such item(s), but to acknowledge in written form the defect and/or damaged item(s); in which case, notwithstanding anything to the contrary in said Lease Paragraph 5 (“Acceptance and Surrender”), Tenant shall not be responsible upon Lease Termination to repair said item(s) so noted in writing by Landlord. Landlord shall have thirty (30) days thereafter (or longer if necessary, provided Landlord is diligently pursuing the completion of the same) to complete, at Landlord’s expense, the “punch list” items without the Commencement Date of the Lease and Tenant’s obligation to pay Rent thereunder being affected. Landlord’s obligations under this Paragraph 6.C shall be of no force and effect if Tenant shall fail to give any such notice to Landlord within thirty (30) days after the Commencement Date of this Lease.
Punch List. 5.8.3.1 The Project Management Plan shall establish procedures and schedules for preparing a Punch List and for completing Punch List work. Such procedures and schedules shall conform to the following provisions.
Punch List is a list of minor repair items, prepared after the issuance of a Certificate of Substantial Completion, by the Inspector and Architect of Work required in order to complete the Contract Documents and ensure compliance with the DSA Approved Plans so the Project may be Closed Out. Issuance of the Retention Payment is dependent upon the proper completion of the Punch List. See Article 13.16 and Article 29.
Punch List. 7.8.2.1 The Facility Management Plan shall establish procedures and schedules for preparing for each Facility Segment a Punch List and completing Punch List work. Such procedures and schedules shall conform to the following provisions.
Punch List. The Contractor shall complete or correct the Work identified on the punch list within the time specified on the Certificate of Substantial Completion or as otherwise directed. If the Contractor fails to satisfactorily complete or correct the punch list items, such failure shall constitute a breach of this Agreement and the Owner shall have the option to invoke any of the remedies provided for under Section 10. The time stated for completion of punch list items shall include final clean-up of the Work site.
Punch List. When Contractor considers the Work or a designated portion of the Work to be substantially complete, Contractor shall prepare and submit to District a comprehensive list of items to be completed or corrected prior to final payment (“Punch List”). The Punch List does not alter Contractor’s responsibility to complete the Work in accordance with the Contract Documents.
Punch List. In the event that any documentation or other item described in Article I of this Agreement shall not be delivered to Buyer on or before the respective Closing Date as contemplated by this Agreement (each, an “Undelivered Item”), Buyer and Seller may agree, in their respective sole discretion, that the same shall not be deemed an objection to closing and, in such event, Buyer agrees to give and Seller agrees to accept a written statement setting forth the Undelivered Items that need to be delivered, completed or repaired (the “Punch List”) with no escrow required to be held. Seller shall further provide a written statement setting forth a date acceptable to Buyer by which each of the Punch List items is to be completed. The Punch List and written statement and this paragraph (e) shall survive the Closing. Buyer and Seller agree that the items identified on Exhibit G to this Agreement shall be included on the Punch List and shall be delivered by Seller on or before November 1, 2010.
