Common use of Notification of Early Substantial Completion Clause in Contracts

Notification of Early Substantial Completion. (a) Unless Project Co obtains the prior written consent of IO, in IO’s sole discretion, Project Co shall not be entitled to the Substantial Completion Certificate prior to, and the Substantial Completion Date and Payment Commencement Date shall not be earlier than, the Scheduled Substantial Completion Date. (b) If Project Co advises IO that Project Co expects to be able to achieve Substantial Completion prior to the Scheduled Substantial Completion Date, the IO Representative shall be entitled to require Project Co to produce and submit to the IO Representative a revised Works Schedule showing the manner and the periods in which the Works shall be performed and what the revised date for Substantial Completion would be so as to enable IO to consider at its sole discretion: (i) whether to agree to an earlier Scheduled Substantial Completion Date; and (ii) what modifications, if any, shall be required to this Project Agreement in order to accommodate such earlier Scheduled Substantial Completion Date. 20.5 Works Report (a) Project Co shall continuously monitor the progress of the Works in relation to the Works Schedule and, within 15 Business Days following the end of each calendar month from Financial Close until the Final Completion Date, Project Co shall provide to the IO Representative and the Independent Certifier a works report (each, a “Works Report”), which will include: (i) an executive summary describing the general status of the Works and progress made over the relevant month; (ii) an updated Works Schedule, in both summary and detailed formats; (iii) a narrative description of any Disputes related to the Works, including any action that has taken place over the relevant month to resolve such Disputes; (iv) in accordance with Section 22, a LEED progress report; and (v) an update on those matters set out in Schedule 34 - Works Report Requirements, all in form and substance satisfactory to IO, acting reasonably. For greater certainty, for all updates and revisions to the Works Schedule, Project Co must provide a revised critical path reflecting the updated/revised Works Schedule. (b) Project Co shall use, and shall ensure that the Construction Contractor uses, the project management software system specified by IO.

Notification of Early Substantial Completion. (a) Unless Project Co obtains the prior written consent of IOthe Ministry, in IO’s sole its discretion, Project Co shall not be entitled to to: (i) the Phase One Substantial Completion Certificate prior to, and the Phase One Substantial Completion Date and a Phase One Milestone Payment Date shall not be earlier than, the Scheduled Phase One Substantial Completion Date; or (ii) the Substantial Completion Certificate prior to, and the Substantial Completion Date and Substantial Completion Payment Commencement Date shall not be earlier than, the Scheduled Substantial Completion Date. (b) If Project Co advises IO the Ministry that Project Co it expects to be able to achieve Phase One Substantial Completion or Substantial Completion prior to the Scheduled Phase One Substantial Completion Date or the Scheduled Substantial Completion Date, as applicable, the IO Ministry Representative shall be entitled to require Project Co to produce and submit to the IO Ministry Representative a revised Works Schedule showing the manner and the periods in which the Works shall be performed and what the revised date for Phase One Substantial Completion or Substantial Completion would be so as to enable IO the Ministry to consider at its sole discretion: (i) whether to agree to an earlier Phase One Substantial Completion Date or Scheduled Substantial Completion Date; and (ii) what modifications, if any, shall be required to this Project Agreement in order to accommodate such earlier Phase One Substantial Completion Date or Scheduled Substantial Completion Date. 20.5 Works Report (a) Project Co shall continuously monitor the progress of the Works in relation to the Works Schedule and, within 15 Business Days following the end of each calendar month from Financial Close until the Final Completion Date, Project Co shall provide to the IO Representative and the Independent Certifier a works report (each, a “Works Report”), which will include: (i) an executive summary describing the general status of the Works and progress made over the relevant month; (ii) an updated Works Schedule, in both summary and detailed formats; (iii) a narrative description of any Disputes related to the Works, including any action that has taken place over the relevant month to resolve such Disputes; (iv) in accordance with Section 22, a LEED progress report; and (v) an update on those matters set out in Schedule 34 - Works Report Requirements, all in form and substance satisfactory to IO, acting reasonably. For greater certainty, for all updates and revisions to the Works Schedule, Project Co must provide a revised critical path reflecting the updated/revised Works Schedule. (b) Project Co shall use, and shall ensure that the Construction Contractor uses, the project management software system specified by IO.