Required Substantial Completion Date definition
Examples of Required Substantial Completion Date in a sentence
Accordingly, notwithstanding anything in this Clause E5, even if conditions exist which would otherwise be an excusable delay hereunder to Contractor’s performance of the Work, Contractor may only be entitled to seek an extension of the Contract Time (for any Schedule Milestones or the Required Substantial Completion Date) only to the extent that such excusable delay is proven to the satisfaction of Princeton University in its discretion to demonstrably impact the critical path of the Project Schedule.
Contractor acknowledges that a delay in any one portion of the Project or in any Work sequence or any other aspect of the Work does not necessarily entitle Contractor to a delay in, or a delay of equal duration in, completion of the entire Project, or a delay that materially and adversely affects the Required Substantial Completion Date.
Updated Project Schedule(s) shall be subject to Princeton University’s written approval, shall not change the previously established Required Substantial Completion Date or any of the Schedule Milestones, and shall not be binding upon Princeton University in any manner unless or until Princeton University has approved such Updated Project Schedule, subject to any qualifications in such approval and all other terms of this Contract.
Notwithstanding the preceding or any approvals by Princeton University of any Updated Project Schedules or anything in this Contract to the contrary, any change to the Required Substantial Completion Date or any of the Schedule Milestones shall only be pursuant to a Change Order signed by Princeton University.
Time is of the essence with respect to the EPC Contractor’s obligations hereunder, including without limitation the EPC Contractor’s obligation to achieve Substantial Completion prior to the Required Substantial Completion Date and Final Completion prior to the Required Final Completion Date.
If Substantial Completion does not occur on or before the Required Substantial Completion Date, Contractor shall pay liquidated damages to Owner for such delay for each and every day that elapses between the Required Substantial Completion Date and the date on which Substantial Completion occurs (“Late Substantial Completion Damages”).
If agreed delivery date is postponed or materials are not permitted to be stored at Project Site, such delay will be considered an excusable delay, and Contractor shall be provided a day for day increase in Required Substantial Completion Date.
The Required Substantial Completion Date or the Required Final Completion Date shall not be extended unless agreed to by written Project Change Order signed by the Client and the EPC Contractor.
Such information shall be provided on or before the Required Substantial Completion Date.
The CPM Schedule shall represent Contractor’s best judgment as to how it shall complete the Work in compliance with the Project Schedule, including the Required Mechanical Completion Date, Required Substantial Completion Date, and the Required Final Completion Date.