substantial completion


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substantial completion

The point at which a construction contract has been completed to the point that the owner or tenant may use the property in the manner in which it was intended,even though some work may remain undone. As used in leases for the start date of rent, construction loans for the maturity of the loan,and construction contracts defining the timing of draw schedules, the term may be defined someplace else in the document. That definition, if it exists, will control the rights and responsibilities of the parties, even if the definition is completely different from the normal understanding of the parties.
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Cheniere, its subsidiaries, and Bechtel have now declared Substantial Completion on seven liquefaction trains at the Corpus Christi liquefaction project and the Sabine Pass liquefaction project ahead of each train's guaranteed completion date and within project budgets.
In conjunction, Cheniere Partners and Bechtel have now declared Substantial Completion on five liquefaction trains at the SPL Project ahead of each train's guaranteed completion date and within project budgets.
The statute of repose is focused on substantial completion of the construction and thus the court focused on construction-related activities as opposed to designing or marketing, the court said.
for PDO & the Mabrouk PDO Pipeline Project have achieved substantial completion. Zauliyah EPC Gas Plant for PDO is at advanced stage of mechanical completion and scheduled to go for pre-Start up Audit from PDO.
The total consideration of EUR 21.3m (USD 22.55m) includes a loan stock subscription obligation payable following the substantial completion of construction of the A9 Project.
Construction of permanent works will begin immediately, with most of the new terminal opening in 2020 and substantial completion anticipated during 2022.
(NASDAQ: CSIQ), has reached substantial completion on its 100 MW AC (133 MW DC) utility-scale Grand Renewable Solar Project.
According to Skanska, construction on the project started in November 2014 and substantial completion is expected in 2017.
Collaboration revenue of USD0.9m was collected in the three months ended 31 March 2015, down over the collaboration revenue of USD13.4m in the three months ended 31 March 2014, primarily reflecting the substantial completion of certain components of the research obligations under its collaborations.
Of the balance, the development agreement calls for that to be paid in three equal installments ($333,334) -- when construction of the residential component begins, when construction of the hotel begins and upon substantial completion of the underground parking garage, Ms.
Disputes can arise (and have arisen) when substantial completion is achieved or a contract is complete so as to trigger the limitations period for filing a mechanic's lien.
Federal funding for the Paris Community Pool is contingent on a substantial completion date of Mar.

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