Contractors and Suppliers Clause Samples

Contractors and Suppliers. All contractors, subcontractors, suppliers, architects, engineers, and others who have performed services or labor for or supplied material to Seller with respect to the Property have been paid in full, and all liens arising from any such services, labor or materials (or claims with which the passage of time or notice or both could mature into liens) have been satisfied and released.

Contractors and Suppliers. As of Closing, all contractors, subcontractors, suppliers, architects, engineers, and others who have performed services or labor or have supplied materials in connection with Seller’s acquisition, development, ownership, or management of the Property have been paid in full and all liens arising therefrom (or claims which with the passage of time or the giving of notice, or both, could mature into liens) have been satisfied and released.

Contractors and Suppliers. All contractors, subcontractors, suppliers, architects, engineers and others that have performed services or labor or supplied material in connection with Transferor's acquisition, development, ownership or management of the Property have been, or will be in the ordinary course of business, paid in full prior to 10 Closing and all liens arising therefrom (or claims which with the passage of time or notice or both, could mature into liens) have been, or will be in the ordinary course of business, satisfied and released prior to Closing. On the Closing Date, Transferor shall provide the REIT a list of all contracts that are not terminable upon 30 days written notice without penalty. The Transferor shall not be required to pay any termination fees or penalties in connection with contracts the REIT wishes to terminate, as such amounts shall be the sole responsibility of the REIT. Notwithstanding the foregoing statements, Smith Summit GP agre▇▇ to negotiate on the REIT's behalf for the termination/cancellation of an existing security monitoring agreement between Smith Summit GP and N▇▇▇▇▇k Multi-Family Security Corporation, with such termination to be effective on August 1, 1998. The REIT agrees and Smith Summit GP acknowle▇▇▇▇ that the REIT will bear the cost of $120,000, as a fee to affect the termination of said contract (the "Buyout Amount"). The REIT agrees and Smith Summit GP acknow▇▇▇▇▇s that Smith Summit GP will (a) ▇▇ ▇ntitled to any savings obtained if the Buyout Amount is less than $120,000, and (b) bear the responsibility for any amount in excess of the Buyout Amount for Smith Summit Apartments. ▇▇ch amount in excess of the Buyout Amount for Smith Summit Apartments ▇▇▇ll be credited to the REIT with regard to Transferor at Closing and such amount less than the Buyout Amount shall be credited to Transferor at Closing.

Contractors and Suppliers. Amounts payable to contractors, subcontractors, designers, suppliers, architects, engineers and others who have performed services or labor or supplied material in connection with the Property. 36

Contractors and Suppliers. Except as disclosed in writing to the Partnership and Inland, to LMLP’s knowledge, all contractors, subcontractors, suppliers, architects, engineers and others who have performed services or labor or supplied material in connection with the acquisition, development, ownership or management of the Property, other than those incurred in the ordinary course of business for the accounts payable period immediately prior to Closing and those engaged directly by tenants, have been paid in full.

Contractors and Suppliers. All contractors, subcontractors, suppliers, architects, engineers and others who have performed services, labor, or supplied material in connection with Seller’s acquisition, development, ownership, operation or management of the Property have been paid in full, or will be paid in full by Closing, and all liens arising therefrom (or claims which with the passage of time or notice or both, could mature into liens) have been (or will be at Closing) satisfied and released (except for liens or claims which Seller has bonded or insured over to the reasonable satisfaction of Buyer).

Contractors and Suppliers a. Party B, as project manager, will be primarily responsible for procuring contractors and suppliers. All contracting by Party B will be done on the basis of reasonable procurement standards that are acceptable to Party A. b. In particular, Party B will undertake due diligence inquiries on potential contractors and suppliers so as ensure that they are selected carefully on the basis that they are competent to do the work or supply the required goods and services, are of good reputation, are free of any conflict of interest or corrupt practices and will not bring the Parties or the Agreed Plan into disrepute. For this purpose, if required by Party A, the relevant contractors and suppliers will provide Party A with a written statement confirming this condition has been met. c. The Parties acknowledge that the appointment of contractors and suppliers may be subject to tender requirements that are regulated by law or internal policies of Party A (or, where Party A is a State-owned Enterprise, be subject to tender requirements regulated under certain regulations of the Ministry of State-owned Enterprises). They agree to comply with any such requirements from time to time. d. The Parties will try to provide work for local community contractors and suppliers to the extent permissible under Party A’s hiring and contracting policies from time to time. e. Party B agrees that Party A will be entitled to participate in the selection process and make the final decision on the selection of all contractors and suppliers where the value of the contract exceeds [*] Rupiah or such other amount agreed between the Parties from time to time. f. Unless otherwise agreed, all contracts will be entered into between Party B and the contractor or supplier. For the avoidance of doubt, Party B acknowledges that it is not authorised to enter into any contract on behalf of, or as the agent for, Party A. g. Party B must ensure that the appointed contractors and suppliers will provide a proper and sufficient guarantee and/or insurance with regard to the work assigned to them.

Contractors and Suppliers. All contractors, subcontractors, suppliers, architects, engineers, and others who have performed services or labor, or supplied material in connection with Seller’s acquisition, development, ownership, and management of the Property have been or will be at or prior to Closing paid in full, and all liens arising therefrom (or claims which with the passage of time or notice or both, could mature into liens) have been or will be at or prior to Closing satisfied and released. The representations and warranties made in this Agreement by Seller shall be continuing and shall be deemed remade by Seller as of the Closing Date, with the same force and effect as if made on, and as of, such date, subject to Seller’s right to update such representations and warranties by written notice to Purchaser and in Seller’s certificate to be delivered pursuant to Section 5.1(i) hereof. All representations and warranties made in this Agreement by Seller shall survive the Closing for a period of one (1) year, and upon expiration thereof shall be of no further force or effect except to the extent that with respect to any particular alleged breach, Purchaser gives Seller written notice prior to the expiration of said one (1) year period of such alleged breach with reasonable detail as to the nature of such breach and files an action against Seller with respect thereto within ninety (90) days after the giving of such notice. Notwithstanding anything to the contrary contained in this Section 4.1, Seller shall have no liability to Purchaser for the breach of any representation or warranty made in this Agreement unless the loss resulting from Seller’s breach of its representations and warranties exceeds, in the aggregate, Fifty Thousand and No/100 Dollars ($50,000.00 US), in which event Seller shall be liable for each dollar of damages resulting from the breach or breaches of its representations and warranties, but in no event shall Seller’s total liability for any such breach or breaches exceed, in the aggregate, Three Hundred Seventy-Five Thousand and No/100 Dollars ($375,000.00 US). In no event shall Seller be liable for, nor shall Purchaser seek, any consequential, indirect or punitive damages; and in no event shall any claim for a breach of any representation or warranty of Seller be actionable or payable if the breach in question results from or is based on a condition, state of facts or other matter which was actually known to Purchaser prior to the Closing. Except as otherwise e...

Contractors and Suppliers. All contractors, subcontractors, suppliers, architects, engineers and others that have performed services or labor or supplied material in connection with such Transferor's acquisition, development, ownership or management of its Properties have been, or will be in the ordinary course of business, paid in full prior to Closing and all liens arising therefrom (or claims which with the passage of time or notice or both, could mature into liens) have been, or will be in the ordinary course of business, satisfied and released prior to Closing.