Application of Major Milestones Requirement Clause Samples

Application of Major Milestones Requirement. 1. The Major Milestone Target Finish Dates identified above are to allow for periodic assessment of critical points of delivery in the construction process. If the Work progresses behind the WPS to the extent that a Major Milestone Target is missed, the ODR may retain sufficient funds, otherwise due to the Contractor, to provide for the assessment of Liquidated Damages in the event that the lost time is not regained. There will be no such additional retainage of funds, provided the published Major Milestone Target Finish Dates are maintained throughout the life of the project. 2. In the event that a Major Milestone Target Finish Date has not been met according to the approved schedule, then an assessment equal to the number of days beyond the scheduled date, multiplied by the contractual liquidated damage amount will be withheld as additional retainage (see UGSC 10.3.2 and 10.3.3) from the current progress payment. The Contractor shall consider this action by the ODR as Notice under UGSC 9.5 and shall increase the rate of Work placement accordingly. 3. Contractor is expected to implement a recovery action plan that re-establishes the original project progress schedule within thirty (30) calendar days of the missed milestone target date. 4. Actions taken that restore the progress schedule within this 30 day work cycle will entitle the Contractor to recover the assessed additional retainage amount for that occurrence. 5. Beyond thirty (30) calendar days, no reimbursement will be made and a deductive Change Order will be issued. 6. All costs to recover lost time will be borne solely by the contractor.
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Related to Application of Major Milestones Requirement

  • Sublicense Requirements Any Sublicense: (A) is subject to this Agreement; (B) will reflect that any sublicensee will not further sublicense; (C) will prohibit sublicensee from paying royalties to an escrow or other similar account; (D) will expressly include the provisions of Sections 8, 9, and 10 for the benefit of Stanford; and (E) will include the provisions of Section 4.4 and require the transfer of all the sublicensee’s obligations to *****, including the payment of royalties specified in the Sublicense, to Stanford or its designee, if this Agreement is terminated. If the sublicensee is a spin-out from *****, ***** must guarantee the sublicensee’s performance with respect to the payment of Stanford’s share of Sublicense royalties.

  • Milestone Event Milestone Payment [***] [***]

  • Minimum Vendor License Requirements Vendor shall maintain, in current status, all federal, state, and local licenses, bonds and permits required for the operation of the business conducted by Vendor. Vendor shall remain fully informed of and in compliance with all ordinances and regulations pertaining to the lawful provision of goods or services under the TIPS Agreement. TIPS and TIPS Members reserve the right to stop work and/or cancel a TIPS Sale or terminate this or any TIPS Sale Supplemental Agreement involving Vendor if Vendor’s license(s) required to perform under this Agreement or under the specific TIPS Sale have expired, lapsed, are suspended or terminated subject to a 30‐day cure period unless prohibited by applicable statue or regulation.

  • License Requirements The Hotel’s alcoholic beverage license requires that the Hotel shall: (i) request proper identification (photo ID) of any person of questionable age and refuse alcoholic beverage service if the person is either under age or proper identification cannot be produced, and (ii) refuse alcoholic beverage service to any person who, in the Hotel’s judgment, appears to be intoxicated; and (iii) instruct its personnel to avoid encouraging patrons to consume alcoholic beverages (commonly referred to as “over-pouring”).

  • Development Milestones In addition to its obligations under Paragraph 7.1, LICENSEE specifically commits to achieving (either itself or through the acts of a SUBLICENSEE) the following development milestones in its diligence activities under this AGREEMENT: (a) (b).