Costs of Completion Sample Clauses

Costs of Completion. If Honeywell takes over part the whole or part of the Works or terminates the Subcontract, Honeywell will, upon completing the Works, assess the costs incurred by it in completing the Works and notify the Subcontractor in writing of such costs. If such costs are greater than the amount which would otherwise have been payable to the Subcontractor if the Works had been completed by the Subcontractor, the difference will be a debt due and payable by the Subcontractor to Honeywell. If such cost is less than the amount which would otherwise have been payable to the Subcontractor if the Works had been completed by the Subcontractor, the difference will be payable by Honeywell to the Subcontractor. Honeywell may recover from the Subcontractor liquidated damages for delay in completion arising from the termination under this Section provided that such damages will exclude any period in which the Subcontractor would have been entitled to an Extension of Time if it had completed the Works itself or the period of any delay caused by the failure of Honeywell. Additionally, Honeywell will be entitled to recover from the Subcontractor the costs of rectification of defects (if an) and any other loss or expense incurred arising from the termination of the Subcontractor due to its failure to rectify default, insolvency, or at the direction of the Customer. Honeywell may, at any time prior to completion of the whole of the Works, issue to the Subcontractor a written notice which sets out a provisional assessment of the amount of costs incurred, or to be incurred, by Honeywell in completing the Works. Any costs so notified will be payable by the Subcontractor within seven (7) days after the date of the notice and any amount so paid by the Subcontractor will be taken in partial satisfaction of any indebtedness of the Subcontractor for any amount it ultimately owes. Honeywell will not be liable to make any further payments to the Subcontractor until such time when the costs incurred by Honeywell in completing the Works, rectification costs for remedying any defects liquidated damages for delay and all other costs incurred by Honeywell as a result of the termination has been ascertained.

Costs of Completion. In the event of termination under this Section, CONTRACTOR shall not be entitled to receive any further payment of the Contract Price, if any is due, until the Work is completed. If the unpaid balance of the Contract Price as of the date of termination exceeds DISTRICT's direct and indirect costs and expenses for completing the Work, including without limitation, attorneys' fees and compensation for additional professional and consultant and administrative services, such excess shall be used to pay CONTRACTOR for the cost of the Work performed prior to the effective date of termination with a reasonable allowance for overhead and profit. If DISTRICT’s costs and expenses to complete the Work, including but not limited to architectural, engineering, consultant, administrative, managerial, and/or legal services costs and expenses, exceed the unpaid Contract Price, CONTRACTOR and/or the Surety shall pay the difference to DISTRICT within ten (10) days of receipt of a written demand for such payment by DISTRICT to CONTRACTOR and Surety. Expense incurred by DISTRICT, as herein provided, and damage incurred through CONTRACTOR’s default, shall be certified to DISTRICT by ARCHITECT.

Costs of Completion. Borrower shall be liable to Lender for all costs paid or incurred for the construction, equipping and completion of the Project, whether the same shall be paid or incurred pursuant to the provisions of this Section 20.2 or otherwise, and all payments made or liabilities incurred by Lender under this Section 20.2 of any kind whatsoever shall be deemed advances made to Borrower under this Agreement and shall be secured by the Mortgage and the other Loan Documents. In the event Lender takes possession of the Project and assumes control of such construction as aforesaid, it shall not be obligated to continue such construction longer than it shall see fit and may thereafter, at any time, change any course of action undertaken by it or abandon such construction and decline to make further payments for the account of Borrower whether or not the Project shall have been completed. For purpose of this Section 20.2, the construction, equipping and the completion of the Project shall be deemed to include any action necessary to cure any Event of Default by the Borrower under any of the terms and provisions of any of the Loan Documents.

Costs of Completion. In the event of termination under this Article 15.1, the Contractor shall not be entitled to receive any further payment of the Contract Sum until the Work is completed. If the unpaid balance of the Contract Sum as of the

Costs of Completion. If Honeywell takes over part the whole or part of the Works or terminates the Subcontract, Honeywell will, upon completing the Works, assess the costs incurred by it in completing the Works and notify the Subcontractor in writing of such costs. If such costs are greater than the amount which would otherwise have been payable to the Subcontractor if the Works had been completed by the Subcontractor, the difference will be a debt due and payable by the Subcontractor to Honeywell. If such cost is less than the amount which would otherwise have been payable to the Subcontractor if the Works had been completed by the Subcontractor, the difference will be payable by Honeywell to the Subcontractor. Honeywell may, at any time prior to completion of the whole of the Works, issue to the Subcontractor a written notice which sets out a provisional assessment of the amount of costs incurred, or to be incurred, by Honeywell in completing the Works. Any costs so notified will be payable by the Subcontractor within seven (7) days after the date of the notice and any amount so paid by the Subcontractor will be taken in partial satisfaction of any indebtedness of the Subcontractor for any amount it ultimately owes.

Costs of Completion. In the event of termination under this Article 15.1, the Contractor shall not be entitled to receive any further payment of the Contract Price until the Work is completed. If the unpaid balance of the Contract Price as of the date of termination exceeds the District's direct and indirect costs and expenses for completing the Work, including without limitation, reasonable attorneys fees and compensation for additional professional and consultant services, such excess shall be used to pay the Contractor for the cost of the Work performed prior to the effective date of termination with a reasonable allowance for overhead and profit. If the District's costs and expenses to complete the Work exceed the unpaid Contract Price, the Contractor and/or the Surety shall pay the difference to the District.