Punch List Clause Examples

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. Prior to the Closing, Xxxxxxxxx agrees to participate in a walk-through of the Unit ("Walk-Through") with Seller's representative in order to compile a list of items the parties mutually agree need correction, which are apparent at the time of inspection ("Walk-Through List"), which Walk-Through List shall be signed by both Purchaser and Seller. If Purchaser fails or refuses to complete the Walk-Through or to sign the Walk-Through List, or to have Purchaser's designee do so on Purchaser's behalf prior to Closing, Seller may either designate a qualified third party, who is not an agent or employee of Seller, to complete the inspection on Purchaser's behalf before the Closing, or, at Purchaser's election, Purchaser may waive, in writing, Purchaser's right to participate in the inspection. Items of uncompleted construction, which do not materially affect occupancy, shall not provide a basis for Purchaser to cancel this Agreement, withhold funds at the Closing, or delay the Closing. Seller will use commercially reasonable efforts to cause its contractors to complete the items on the Walk-Through List at Seller’s expense within the later to occur of sixty (60) working days after preparation of the Walk-Through List or sixty (60) working days after the date of Closing, subject to Force Majeure. Xxxxxxxxx understands and agrees that paving, exterior cement work, landscaping, final exterior finish and some components of the Project may not be completed when a temporary or conditional certificate of occupancy is issued and that Seller will complete such paving, exterior cement work, landscaping and final exterior finish work as soon as practicable thereafter. Purchaser’s refusal to close this transaction due to the

Punch List. (a) The Project Management Plan shall establish procedures and schedules for preparing a Punch List and completing Punch List work. Such procedures and schedules shall conform to the following provisions. (b) The schedule for preparation of the Punch List either shall be consistent and coordinated with the inspections regarding Substantial Completion of the applicable Phase of the Project, or shall follow such inspections. (c) Developer shall prepare and maintain the Punch List. Developer shall deliver to TxDOT not less than five days’ prior notice stating the date when Developer will commence Punch List field inspections and Punch List preparation. TxDOT may, but is not obligated to, participate in the development of the Punch List. Each participant shall have the right to add items to the Punch List and none shall remove any item added by any other without such other’s express permission. If Developer objects to the addition of an item by TxDOT, the item shall be noted as included under protest, and if the Parties thereafter are unable to reconcile the protest, the Dispute shall be resolved according to the dispute resolution procedures set forth in this Agreement. Developer shall deliver to TxDOT a true and complete copy of the Punch List, and each modification thereto, as soon as it is prepared. (d) Developer shall immediately commence work on the Punch List items and diligently prosecute such work to completion, consistent with the Contract Documents, within the time period to be set forth in the Project Management Plan and in any case by the Final Acceptance Deadline.

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. Within 60 days after substantial completion of Landlord’ s Expansion Space Work, Tenant shall furnish to Landlord a written statement setting forth Tenant' s schedule , in its reasonable opinion, of any such uncompleted portions of Landlord's Expansion Space Work (the "Punch list"). If Landlord objects to any portion of the Punch list, Landlord shall notify Tenant. If not, Landlord shall diligently complete the Punch list items and if Landlord fails to diligently pursue completion of the Punch list items approved by Landlord within 90 days after delivery of the Punch list to Landlord and Landlord's acceptance thereof, Tenant shall issue to Landlord written notice of such failure and if Landlord fails to diligently pursue completion of said Punch list items within thirty (30) days thereafter, Tenant may complete any of such Punch list items and Landlord shall pay Tenant any reasonable , actual and documented amounts incurred by Tenant within 30 days after proof of payment.  Landlord’s Refurbishment Work  1. Building 755 restrooms (located across from Tenant's break room) shall be improved to building standard with new tiles, plumbing fixtures, lighting fixture s, ceiling and paint. 2. Building 755 - Additional restrooms will be provided for the production area portion of the Premises to building standard. 3. Break room portion of the Premises located in Building 755 to be improved with paint, new carpet, doors, ceiling and kitchenette with small refrigerator and microwave to building standard. 4. Landlord will install new interior signage within Building 755 provided by Tenant, at Tenant’s cost, which installation shall not impact substantial completion of Landlord ' s Expansion Space Work.

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.

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. Within 30 days after obtainment of Substantial Completion, the Owner shall generate a “punch list” of all work items requiring remedial attention by the Construction Manager. Within 5 days thereafter the Architect/Engineer shall assign a fair value to the punch list items, which sum shall be deducted from the next scheduled progress payment to the Construction Manager. Upon satisfactory completion of the punch list items, as certified by the Architect/Engineer, the previously deducted sum shall be paid to the Construction Manager.