Final Construction Clause Samples

The "Final Construction" clause defines the point at which a construction project or a specific phase is considered fully completed according to the contract terms. It typically outlines the criteria that must be met for the work to be deemed finished, such as passing inspections, obtaining necessary certifications, or completing all punch list items. This clause ensures that both parties have a clear understanding of when contractual obligations regarding construction are fulfilled, thereby reducing disputes over project completion and facilitating the release of final payments or warranties.
Final Construction. Finally, the screened and weighted portfolio is tested to assure appropriate representation in each of the 12 S&P 500 industry sectors (as set forth in Annex B). If any sector of the Portfolio is less than 65% of the S&P 500 weight, Aeltus will increase its investment in that sector sufficiently to meet this criterion. Similarly, if any sector is greater than 135% of the S&P weight, Aeltus will decrease its investment in that sector sufficiently to meet this criterion. The portfolio is generally rebalanced monthly to reflect changes in rank and/or weighting components. Use of Futures Transaction efficiency is improved by using S&P 500 futures. They will represent no more than 20% of the equity portfolio, and will not be leveraged or used for speculative purposes. ANNEX B SECTOR LIST Sector Abbreviation Sector Name ------------------- ----------- CAPG CAPITAL GOODS TECH TECHNOLOGY CONC CONSUMER CYCLICALS CONN CONSUMER NON-CYCLICALS ▇▇▇▇ HEALTH CARE RETL RETAILERS RAWM RAW MATERIALS ▇▇▇▇ TRANSPORTATION ENGY ENERGY ▇▇▇▇ FINANCIAL TELF TELEPHONE UTILITIES ELUT ELECTRIC UTILITIES ANNEX C SAMPLE CALCULATION OF HYPOTHETICAL TOTAL ASSET VALUE If Actual Data Based Then Hypothetical on Actual Expense Data if Higher Ratio in Asset Covered Expense Allocation Model Ratio had been used were: would be: ---------------------- ---------------------- Business Day Preceding Permanent Deficit Event: - Equity Percentage 30.0% 19.7% (a) - Discount Rate 5.50% 5.50% - Remaining Time to Maturity (in Years) 4.00 4.00 - Actual Expense Ratio in Asset Allocation Model 1.40% 1.40% - Higher Covered Expense Ratio 2.25% 2.25% - Gross Principal Guarantee $ 100,000,000 $ 100,000,000 - Present Value of Aggregate Guarantee Amount plus $ 85,093,654 $ 85,093,654 Present Value of Covered Expenses using Actual Expense Ratio - Present Value of Aggregate Guarantee Amount plus $ 87,982,971 $ 87,982,971 Present Value of Covered Expenses using Higher Covered Expense Ratio - Cash Equivalent Value $ 0 $ 0 - Equity Portfolio Value $ 28,052,853 $ 18,421,799 (b) - Fixed Income Portfolio Value $ 65,456,657 $ 75,087,712 (c) - Total Asset Value $ 93,509,510 $ 93,509,510 (d) - Adjusted Total Asset Value $ 85,093,654 $ 87,982,971 Date on Which Permanent Deficit Event Occurs - Change in Equity Portfolio Value -40.00% -40.00% (e) - Change in Disc. Rate -0.50% -0.50% - Change in Fixed Income Portfolio Value 2.00% 2.00% (f) - Cash Equivalent Value $ 0 $ 0 - Equity Portfolio Value $ 16,831,712 $ 11,053,079 (g) - Fix...
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Final Construction. Finally, the screened and weighted portfolio is tested to assure appropriate representation in each of the 12 S&P 500 industry sectors (as set forth in Annex B). If any sector of the Portfolio is less than 65% of the S&P 500 weight, Aeltus will increase its investment in that sector sufficiently to meet this criterion. Similarly, if any sector is greater than 135% of the S&P weight, Aeltus will decrease its investment in that sector sufficiently to meet this criterion. The portfolio is generally rebalanced monthly to reflect changes in rank and/or weighting components. Use of Futures Transaction efficiency is improved by using S&P 500 futures. They will represent no more than 20% of the equity portfolio, and will not be leveraged or used for speculative purposes.
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Related to Final Construction

  • Neutral Construction Neither party hereto may rely on any drafts of this Agreement in any interpretation of the Agreement. Both parties to this Agreement have reviewed this Agreement and have participated in its drafting and, accordingly, neither party shall attempt to invoke the normal rule of construction to the effect that ambiguities are to be resolved against the drafting party in any interpretation of this Agreement.

  • Legal Construction If one or more of the provisions contained in this Agreement shall for any reason be held invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provisions and this Agreement shall be construed as if it did not contain the invalid, illegal, or unenforceable provision.

  • ADDITIONAL CONSTRUCTIONS The Promoter undertakes that it has no right to make additions or to put up additional structure(s) anywhere in the Project after the building plan has been approved by the competent authority(ies) except for as provided in the Act.

  • General Construction 20.2.1. Binding Nature.............................................. 20.2.2. Entire Agreement............................................ 20.2.3. Governing Law............................................... 20.2.4. Indulgences Not Waivers..................................... 20.2.5. Titles Not to Affect Interpretation......................... 20.2.6.

  • Project Construction The Contractor agrees to provide continuous on-site supervision on each Job Order, while progress on the project is being accomplished. The Contractor’s Project Manager will ensure: 1. Coordination and providing supervision to all Subcontractor and workers; 2. Posting of the prevailing wage scale; 3. Maintaining a copy of the Contractors safety program manual made available to all construction personnel; 4. Conducting weekly on-site safety meetings; 5. Completing the daily labor and construction progress log on a daily basis and submit copies to the County on a daily basis. Copies of the previous day’s reports must be submitted by 9:00AM of the following day. a. Daily labor log is to include a listing of Subcontractor(s) and a count of workers by trade providing services for the day. b. Construction progress log is to include a narrative of the Work provided by trade(s). Narrative agrees to include the various areas of the jobsite where Work was performed and any problems or conditions that were encountered. c. In the event the Contractor fails to provide a daily log and/or construction progress log, the County may impose damages against the Contractor in the amount of fifty dollars ($50.00) for each log and deduct from the Contractor’s payment request, for each day the Contractor does not provide the documentation. 6. County may suspend Contractor operations if no Contractor Superintendent is observed. All delays caused by the suspension will be the responsibility of the Contractor. No time extension or claims for cost(s) associated with the suspension will be granted by the County.