Common use of Post-Financial Closing Clause in Contracts

Post-Financial Closing. Commencing after the Financial Closing Date, prior to the tenth (10th) day of each month following any month in which the Contractor achieves completion of a Milestone, Contractor may submit to Owner a Request For Payment (separating materials and labor) for each Milestone completed during the previous month. Each Request For Payment shall be accompanied by a Milestone Achievement Certificate, duly executed by the Contractor Project Manager, and a Field Milestone Certification, duly executed by the Contractor Site Manager and Owner’s representative (if approved), for each Milestone completed. Within thirty (30) days after its receipt of a Request For Payment, provided that Contractor has delivered all Lien waivers requested by Owner in accordance with Section 6.06(c), Owner shall pay to Contractor the amount that remains after the deduction from the Milestone Payment requested of the following amounts: (i) any portion thereof that Owner disputes in good faith as not being due and owing, (ii) any overpayment made by Owner for any previous period, and (iii) any Schedule Liquidated Damages and Performance Liquidated Damages (including interest thereon at the Reference Rate ) payable by Contractor.

Post-Financial Closing. Commencing after the Financial Closing Date, prior to the tenth (10th) day of each month following any month in which the Contractor achieves completion of a Milestone, Contractor may submit to Owner a Request For Payment (separating materials and labor) for each Milestone completed during the previous month. Each Request For Payment shall be accompanied by a Milestone Achievement Certificate, duly executed by the Contractor Project Manager, and a Field Milestone Certification, Payment Certification duly executed by the Contractor Site Manager and Owner’s Owners representative (if approved), for each Milestone completed. Within thirty (30) days after its receipt of a Request For Payment, provided that Contractor has delivered all Lien waivers requested by Owner in accordance with Section 6.06(c7.06(c), Owner shall pay to Contractor the amount that remains after the deduction from the Milestone Payment requested of the following amounts: (i) any portion thereof that Owner disputes in good faith as not being due and owing, (ii) any overpayment made by Owner for any previous period, and (iii) any Schedule Liquidated Damages and Performance Liquidated Damages (including interest thereon at the Reference Rate thereon) payable by Contractor.