To make the sauce, combine all the ingredients in a medium saucepan. Bring the mixture to a boil over medium heat, then lower the heat and simmer the sauce until it thickens and reduces by about a quarter, about 15 to 20 minutes. Set the sauce aside to cool. Tip: The sauce can be made up to two weeks ahead and refrigerated.
Place the chicken on a sheet pan and rub the pieces with the Montreal steak seasoning. Let sit at room temperature for 30 minutes.
Prepare your grill so that the heat is concentrated on one side (direct heat). Sear the chicken over the direct heat, covered, turning it once or twice, for about 8 minutes.
Move the chicken to the cooler side and cook it, covered, turning it once or twice, until almost cooked through, about 12 minutes.
Baste the chicken with the sauce, close the lid, and cook for about 3 minutes. Repeat two or three times, until the sauce is thick and browned and the chicken is done, for 8 to 10 minutes.
For a citrus flavor burst, grill the lime wedges until they're lightly charred, about 5 minutes. Squeeze the juice over the meat before serving.