Punch List Sample Clauses

Punch List. Upon notification from the Contractor that the Hotel is Substantially Completed and ready for inspection, Seller shall prepare a “punch list” with the assistance of the Architect and the Franchisor. Seller acknowledges that final acceptance of the work on the Hotel shall be made only with the approval of the Franchisor. A copy of the Punch List shall be submitted to Buyer for its review and comments. The costs of completing the Punch List Items that are not completed as of the date of Closing, as reasonably estimated by the Seller with the approval of Buyer, such approval not to be unreasonably withheld, plus fifty percent (50%) of such costs, shall be held by Escrow Agent pursuant to a holdback agreement and shall be disbursed to Seller only upon Buyer’s reasonable determination that all of the Punch List Items have been satisfactorily completed. Seller shall correct or complete all Punch List Items, or cause the same to be corrected or completed, at Seller’s expense, with all diligence and in any event within ninety (90) days after Substantial Completion of the Hotel or the Closing on the Hotel, whichever is later. Pre-Opening Program. It is contemplated that certain activities, as determined by the Management Company, must be undertaken prior to the Closing Date so that the Hotel can function in an orderly and businesslike manner at the Effective Time (“Pre-Opening Program”). Seller shall cooperate in good faith with the Pre-Opening Program and shall provide the Franchisor and Buyer reasonable access to the Property in advance of the Closing in order to conduct their activities related to the Pre-Opening Program; provided that the Pre-Opening Program shall not be permitted to interfere with or delay the activities of Seller in completing the Hotel. Seller shall pay in a timely manner all costs associated with the Pre-Opening Program or otherwise related to the pre-opening operations of the Property up to but not including the Effective Time, regardless of when such costs are payable (the “Pre-Opening Costs”).

Punch List. Developer shall notify the Architect when ▇▇▇▇▇▇▇▇▇ considers the Work complete. Upon notification, Architect will prepare a list of minor items to be completed or corrected (“Punch List”). Developer and/or its Subcontractors shall proceed promptly to complete and correct items on the Punch List. Failure to include an item on Punch List does not alter the responsibility of Developer to complete all Work in accordance with the Contract Documents.

Punch List. (a) The Project Management Plan shall establish procedures and schedules for preparing a Punch List and completing Punch List work. Such procedures and schedules shall conform to the following provisions. (b) The schedule for preparation of the Punch List either shall be consistent and coordinated with the inspections regarding Substantial Completion of the applicable Phase of the Project, or shall follow such inspections. (c) Developer shall prepare and maintain the Punch List. Developer shall deliver to TxDOT not less than five days’ prior notice stating the date when Developer will commence Punch List field inspections and Punch List preparation. TxDOT may, but is not obligated to, participate in the development of the Punch List. Each participant shall have the right to add items to the Punch List and none shall remove any item added by any other without such other’s express permission. If Developer objects to the addition of an item by TxDOT, the item shall be noted as included under protest, and if the Parties thereafter are unable to reconcile the protest, the Dispute shall be resolved according to the dispute resolution procedures set forth in this Agreement. Developer shall deliver to TxDOT a true and complete copy of the Punch List, and each modification thereto, as soon as it is prepared. (d) Developer shall immediately commence work on the Punch List items and diligently prosecute such work to completion, consistent with the Contract Documents, within the time period to be set forth in the Project Management Plan and in any case by the Final Acceptance Deadline.

Punch List is a list of minor repair items, prepared after the issuance of a Certificate of Substantial Completion, by the Inspector and Architect of Work required in order to complete the Contract Documents and ensure compliance with the DSA Approved Plans so the Project may be Closed Out. Issuance of the Retention Payment is dependent upon the proper completion of the Punch List. See Article 13.16 and Article 29.

Punch List. When Contractor considers the Work or a designated portion of the Work to be substantially complete, Contractor shall prepare and submit to District a comprehensive list of items to be completed or corrected prior to final payment (“Punch List”). The Punch List does not alter Contractor’s responsibility to complete the Work in accordance with the Contract Documents.

Punch List. In the event that any documentation or other item described in Article I of this Agreement shall not be delivered to Buyer on or before the respective Closing Date as contemplated by this Agreement (each, an “Undelivered Item”), Buyer and Seller may agree, in their respective sole discretion, that the same shall not be deemed an objection to closing and, in such event, Buyer agrees to give and Seller agrees to accept a written statement setting forth the Undelivered Items that need to be delivered, completed or repaired (the “Punch List”) with no escrow required to be held. Seller shall further provide a written statement setting forth a date acceptable to Buyer by which each of the Punch List items is to be completed. The Punch List and written statement and this paragraph (e) shall survive the Closing. Buyer and Seller agree that the items identified on Exhibit G to this Agreement shall be included on the Punch List and shall be delivered by Seller on or before November 1, 2010.

Punch List. Within 30 days after obtainment of Substantial Completion, the Owner shall generate a “punch list” of all work items requiring remedial attention by the Construction Manager. Within 5 days thereafter the Architect/Engineer shall assign a fair value to the punch list items, which sum shall be deducted from the next scheduled progress payment to the Construction Manager. Upon satisfactory completion of the punch list items, as certified by the Architect/Engineer, the previously deducted sum shall be paid to the Construction Manager.

Punch List. Upon notification from the Contractor that the Hotel is Substantially Completed and ready for inspection, the Company shall prepare a “punch list” with the assistance of a representative of Buyer and the Franchisor. The Company and the Interest Owners acknowledges that final acceptance of the work on the Hotel shall be made only with the approval of Buyer and the Franchisor. The costs of completing the Punch List Items that are not completed as of the date of Closing, as reasonably estimated by the Interest Owners with the approval of Buyer, such approval not to be unreasonably withheld, plus fifty percent (50%) of such costs, shall be reserved by Buyer from the Purchase Price and shall be disbursed to the Interest Owners only upon Buyer’s reasonable determination that all of the Punch List Items have been satisfactorily completed. The Interest Owners shall correct or complete all Punch List Items, or cause the same to be corrected or completed, at their expense, with all diligence and in any event within sixty (60) days after Substantial Completion of the Hotel.

Punch List. 2 The Project Management Plan shall establish procedures and schedules for 3 preparing a Punch List and completing Punch List work. Such procedures and