Physical Completion Clause Samples
The Physical Completion clause defines the point at which the contractor's work is considered substantially finished and ready for inspection or use. Typically, this clause outlines the criteria that must be met, such as completion of all construction activities, passing required tests, and obtaining necessary certifications or approvals. Its core practical function is to establish a clear milestone for transitioning responsibility, triggering final payments, or commencing warranty periods, thereby reducing ambiguity and disputes over project status.
Physical Completion. The deadline for Physical Completion is 90 Calendar Days from the date Substantial Completion is achieved. Refer to General Provisions Section 1-08.5(2) for the requirements to be met in order to achieve Physical Completion.
Physical Completion. Physical Completion shall have occurred.
Physical Completion. (i) Physical Completion has occurred.
Physical Completion. Upon Physical Completion, at the request of the Borrower, provided that no Potential Default or Event of Default then exists, any remaining balance in the Base Equity Account and the Overrun Equity Account not otherwise used to fund Total Project Costs may be disbursed to the Borrower for distribution to the Equity Owners of the Borrower, without regard to the limitations set forth in Section 7.10 hereof (except for Section 7.10(a)(ii) hereof).
Physical Completion. Construction of the Project is physically complete and all Contract Services pertaining to the Project, except the items on the Punch List, is complete and in all respects is in compliance with this Comprehensive Agreement;
Physical Completion. All facilities and equipment necessary for the Project to operate as contemplated under the Project Plans:
(i) shall have been completely constructed, installed, completed, tested, and commissioned, all utilizing first-class standards of workmanship and materials and in accordance with the Project Plans and the terms of applicable construction agreements, subject to Punch List Items for which adequate reserves have been established, as verified by the Independent Engineer;
(ii) shall be operating in accordance with applicable guidelines;
(iii) shall have been accepted and paid for, as evidenced by the Borrower having issued acceptance certificates relating to each of the major engineering, procurement and construction contracts, subject to Punch List Items for which adequate reserves have been established, as verified by the Independent Engineer; and
(A) are being properly operated and maintained in all respects.
Physical Completion. Shenzhen Libaoyi Industry Development Co., Ltd. is the owner of Wanli Industrial Building with 100% title to it, all of which can be provided for New Focus Inc.'s use.
Physical Completion. Design-Build Work of the applicable School, including any associated parking, is in all respects physically complete and in compliance with this Agreement, except for (a) the Commissioning Tests; (b) Punch List Items; (c) at Developer’s election, the Athletic Fields; and (d) if applicable, the Demolition Work associated with the school existing on the Effective Date on the ▇▇▇▇▇▇ Mill Middle School Land;
Physical Completion. In accordance with the WSDOT Standard Specifications, the City may determine construction of the Project to be Physically Complete. The City shall notify Sound Transit in writing of its intent to declare the Project Physically Complete. Sound Transit shall respond in writing, within fourteen calendar days indicating Agreement or a detailed description of any objection. Failure of Sound Transit to provide a written response within fourteen calendar days shall constitute Sound Transit’s concurrence with the City’s determination of the Project being Physically Complete. If Sound Transit expresses an objection, the Parties may pursue dispute resolution as provided herein. Both Parties agree to act as expeditiously as possible to assure timely resolution.
Physical Completion. All pipelines, facilities, materials and equipment for the Project have been installed in accordance with the requirements of the Contract Documents and inspected (tv’d), (each joint isolated and air tested, Mandrel test for flexible pipes), tested in accordance with Appendix 4 and the Project has been cleaned out as necessary and required by the City and Applicable Law;