Owner’s Right to Reduce Retainage Sample Clauses

The "Owner’s Right to Reduce Retainage" clause grants the project owner the authority to decrease the amount of retainage withheld from contractor payments during the course of a construction project. Typically, retainage is a percentage of each payment held back to ensure satisfactory completion of the work, but this clause allows the owner to lower that percentage as the project progresses or as certain milestones are met. For example, the owner might reduce retainage once a significant portion of the work is completed or after the contractor has addressed specific concerns. The core function of this clause is to provide flexibility in payment terms, incentivize timely performance, and maintain a fair balance between protecting the owner’s interests and supporting the contractor’s cash flow.
Owner’s Right to Reduce Retainage. The Owner may release at any point all, or any portion of any retainage withheld which is attributable to the labor, services, or materials supplied by the Construction Manager or by one or more subcontractors or suppliers. If the Owner’s retainage payment under this subsection is attributable to the labor, services, or materials supplied by one or more subcontractors or suppliers the Construction Manager shall timely remit payment of such retainage to those subcontractors and suppliers.
View SourceView Similar (8)

Related to Owner’s Right to Reduce Retainage

  • Owner’s Right to Stop Work The Owner reserves the right, for itself and for any designated Construction Inspector retained by Owner, upon observation of apparent nonconforming Work, to immediately stop the affected Work. If the Work is later determined by the Design Professional to be in fact conforming Work, then Contractor shall be entitled upon timely claim to a Change Order for payment by Owner of any reasonable Actual Costs actually incurred by Contractor in connection with the stop Work order and resumption of the Work, as well as an extension in the time for performance of the Work to the extent Contractor is delayed by Owner's stop Work order. The Design Professional shall determine the time, which shall be binding upon both Owner and Contractor, as set forth in Section 3, Part 3.

  • Landlord’s Right to Enter Landlord and its agents and third party designees retain the right to enter the Leased Premises during normal business hours but shall give Tenant reasonable notice (except in the case of emergency when no notice shall be required) for the purpose of (i) inspecting the same; (ii) showing the Leased Premises to prospective purchasers, mortgagees or tenants, occupants, and/or licensees; (iii) making necessary alterations, additions or repairs (provided that any such alterations, additions or repairs shall be coordinated in advance with Tenant), and (iv) performing any of Tenant's obligations when Tenant has failed to do so, provided that Landlord and its agents and third party designees shall abide by Tenant's reasonable security measures and provided that access by Landlord and its agents and third party designees pursuant to this Paragraph 4.9 shall not materially and unreasonably interfere with Tenant's use of the Leased Premises. Landlord retains the right to enter the Leased Premises during normal business hours (or as otherwise agreed), subject to Tenant's reasonable security measures, for purposes of supplying any maintenance or services agreed to be supplied by Landlord. Landlord and its agents retain the right to enter the Common Areas at all times for any and all purposes, including, but not limited to (i) conducting Landlord's Environmental Response Activities; (ii) inspecting the exterior of the Building and the Common Areas; (iii) posting notices of nonresponsibility (and for such purposes Tenant shall provide Landlord at least fifteen (15) days' prior written notice of any work to be performed on the Leased Premises); and (iv) supplying any services to be provided by Landlord. Any entry into the Leased Premises or the Common Areas obtained by Landlord in accordance with this paragraph shall not under any circumstances be construed or deemed to be a forcible or unlawful entry into, or a detainer of, the Leased Premises, or an eviction, actual or constructive of, Tenant from the Leased Premises or any portion thereof, nor relieve Tenant of its obligations hereunder, nor constitute a breach of contract.

  • OWNER’S RIGHT TO CARRY OUT THE WORK If the Contractor defaults or neglects to carry out the Work in accordance with the Contract Documents and fails within a ten (10)-calendar day period after receipt of written notice from the Owner to commence and continue correction of such default or neglect with diligence and promptness, the Owner may, without prejudice to other remedies the Owner may have, correct such deficiencies. In such case an appropriate Change Order shall be issued deducting from payments then or thereafter due the Contractor the reasonable cost of correcting such deficiencies, including Owner’s expenses and compensation for the Architect’s additional services made necessary by such default, neglect or failure. Such action by the Owner and amounts charged to the Contractor are both subject to prior approval of the Architect. If payments then or thereafter due the Contractor are not sufficient to cover such amounts, the Contractor shall pay the difference to the Owner.

  • Right to Refuse Unsafe Work Employees have the right to refuse to perform unsafe work pursuant to the Occupational Health and Safety Regulations of the Workers Compensation Act.

  • Right to Refuse Overtime All employees shall have the right to refuse to work overtime, except when required to do so in emergency situations, without being subject to disciplinary action for so refusing.