Common use of Care, Custody and Control; Punch List Items Clause in Contracts

Care, Custody and Control; Punch List Items. (a) Developer shall be responsible for care, custody, control and risk of loss of the Work, including all Equipment, Materials and the Facility, and shall make good at Developer’s own cost and expense any loss or damage that may occur to the Work or any part thereof from any cause whatsoever until the Substantial Completion Date. Developer shall also be responsible for any loss or damage to the Work, including all Equipment, Materials and the Facility, caused by the Developer Parties in the course of any work carried out under the Project Documents or in connection with the Project until Final Acceptance. Developer hereby waives any and all Claims or causes of action it might have now or in the future against PacifiCorp, whether by way of affirmative action, offset, cross claim or otherwise, and shall be liable for any loss or damage that may occur to the Work, including all Equipment, Materials and the Facility, or any part thereof, caused by PacifiCorp’s negligent acts in the course of any work carried out by PacifiCorp in connection with the Project. (b) Care, custody and control of the Work, including all Equipment, Materials and the Facility, shall be transferred to PacifiCorp as of the Substantial Completion Date. PacifiCorp shall begin to compile a preliminary punch list as the Work progresses (with Developer and PacifiCorp in good faith mutually determining the Dollar value of such list). PacifiCorp shall submit to Developer the completed preliminary punch list at least fifteen (15) Business Days prior to the anticipated Substantial Completion Date. At least five (5) Business Days prior to the Substantial Completion Date, Developer and PacifiCorp shall mutually agree on the final punch list of items, the value related thereto and on a schedule for completion of such items (the “Final Punch List”). PacifiCorp shall withhold from its Progress Payment at the Substantial Completion Date an amount equal to two hundred percent (200%) of the agreed upon value of the Final Punch List (the “Punchlist Holdback Amount”), but shall make periodic pro-rata payments as Developer demonstrates to PacifiCorp completion of the items on the Final Punch List. All of the items on the Final Punch List shall be completed expeditiously after the Substantial Completion Date and in accordance with the schedule for completion provided as part of the Final Punch List. PacifiCorp shall provide to Developer for such purpose reasonable access to the Work.

Care, Custody and Control; Punch List Items. ‌ (a) Developer Seller shall be responsible for care, care and custody, and control and risk of loss of the Work, including all Equipment, Materials and the Facility, Work and shall make good at DeveloperSeller’s own cost, or at Buyer’s cost and expense if Seller does not remedy the same, any loss or damage that may occur to the Work or any part thereof from any cause whatsoever until the Substantial Completion Date. Developer Seller shall also be responsible for any loss or damage to the Work, including all Equipment, Materials and the Facility, thereto caused by the Developer Parties Contractor or any Subcontractor in the course of any work carried out under or the Project Documents or in connection with the Project until Final Acceptance. Developer Seller hereby waives any and all Claims claims or causes of action it might have now or in the future against PacifiCorpBuyer, whether by way of affirmative action, offset, cross claim or otherwise, and shall be liable for resulting from any loss or damage that may occur to the Work, including all Equipment, Materials and the Facility, or any part thereof, caused by PacifiCorp’s negligent acts in the course negligence of any work carried out by PacifiCorp in connection with the Project.Buyer (b) Care, custody and control of the Work, including all Equipment, Materials and the Facility, Work shall be transferred to PacifiCorp Buyer as of the Substantial Completion Date. PacifiCorp Buyer shall begin to compile a preliminary punch list as the Work progresses (with Developer Seller and PacifiCorp Buyer in good faith mutually determining the Dollar value of such list). PacifiCorp Buyer shall submit to Developer Seller the completed preliminary punch list at least fifteen ten (1510) Business Days prior to the anticipated Substantial Completion Date. At least Within five (5) Business Days prior to following the Substantial Completion Date, Developer Buyer shall issue to Seller a final punch list (the “Final Punch List”). After receipt thereof, Seller and PacifiCorp Buyer shall mutually agree on the final punch list of items, the value related thereto and on a schedule for completion of such items (the “Final Punch List”)items. PacifiCorp Buyer shall withhold from its Progress Payment at the Substantial Completion Date Closing an amount equal to two hundred percent (200%) of 1.5 times the agreed upon value of the Final Punch List (the “Punchlist Holdback Amount”)List, but shall make periodic pro-rata payments as Developer demonstrates to PacifiCorp Seller demonstrate completion of the items on the Final Punch ListList to Buyer. All of the items on the Final Punch List shall be completed expeditiously after the Substantial Completion Date and in accordance with the schedule for completion provided as part of the Final Punch ListDate. PacifiCorp Buyer shall provide to Developer Seller for such purpose reasonable access to the Work.