Completion Payment and Practical Completion Clause Samples

Completion Payment and Practical Completion. If the Date of Practical Completion of Separable Portion 2 occurs in a period specified in the following table, Main Roads will pay the Non-Owner Participant the amount specified for that period in the table (Completion Payment): Date of Practical Completion of Separable Portion 2 occurs: Completion Payment 1 On or before 16 March 2018 $2.6m 2 Between 17 March 2018 and 23 March 2018 (inclusive) $2.1m 3 Between 24 March 2018 and 30 March 2018 (inclusive) $1.6m 4 Between 31 March 2018 and 6 April 2018 (inclusive) $1.1m 5 Between 7 April 2018 and 13 April 2018 (inclusive) $600,000 6 Between 14 April and 20 April 2018 (inclusive) $100,000 7 On or after 21 April 2018 $0 For the avoidance of doubt, only one claim may be made for the Completion Payment and the maximum Completion Payment payable by Main Roads is $2.6m.
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Related to Completion Payment and Practical Completion

  • Final Completion The full and final completion of all Work in accordance with the Contract Documents.

  • Final Completion Date Final Completion for the Work as defined in Article 6.1.3 of the General Conditions to the Continuing Contract for Construction Management shall be achieved by October 31, 2024.

  • Substantial Completion 9.8.1 When the Contractor considers that the Work, or a designated portion thereof which has been accepted in writing to by the State, is substantially complete as defined in Subparagraph

  • Commencement and Completion The Work shall commence on _______________, 20__ and shall be complete in accordance with this Agreement without delay on ______________, 20__. The term “day”, used throughout this Agreement, refers to calendar days. Contractor shall not be entitled to any additional compensation for any Permitted Delays. If this Agreement is not signed and returned to the Owner before any work commences, this Agreement will be considered as accepted as presented to the Contractor.

  • 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.