Conforming Clause Samples
The Conforming clause establishes the requirement that goods, services, or deliverables provided under a contract must meet the agreed-upon specifications, standards, or descriptions. In practice, this means that the receiving party has the right to inspect and verify that what is delivered matches the contract terms, such as quality, quantity, or performance criteria. This clause ensures that the buyer receives exactly what was promised and provides a basis for rejecting or requesting correction of non-conforming items, thereby protecting the interests of the receiving party and promoting accountability.
Conforming. Goods or conduct including any part of a performance are "conforming" or conform to the contract when they are in accordance with the obligations under the contract.
Conforming. Bid a Bid which conforms with the requirements of the Bid Event. Contract the contract to be executed between Synergy and the successful Participant as a result of the Bid Event. Non-conforming Bid a Bid which does not conform with the requirements of the Bid Event as determined by Synergy, acting reasonably, or a Bid containing departures from or alternative options to a Conforming Bid. Order a purchase order or a statement of work issued to the Panel Member confirming the Requirements. Panel the panel of Panel Members selected to provide the Requirement. Panel Members the two or more Participants appointed to the Panel. Participant the party or parties submitting a Bid. Term Meaning Related Entity as defined in paragraph 4.1 of the Code. Requirement the supply of the goods or services as described in the Bid Event. Scope of Work the scope of work as set out in the Bid Event which describes the requirements that must be met under the Contract. Validity Period the validity period referred to in the Bid Event. B2 Preparation of Bid
Conforming. In connection with the use or administration of SOFR or Term SOFR, the Administrative Agent will have the right to make Conforming Changes from time to time in consultation with the Borrower and, notwithstanding anything to the contrary herein or in any other Credit Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Credit Document. The Administrative Agent will promptly notify the Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of SOFR or Term SOFR, as applicable."; and
(k) the following Section is added as Section 11.1(f):
Conforming. Any non conforming payment may constitute or become a Default or Event of Default in accordance with the terms of Section 8.
Conforming requests for payments shall be approved and funded by the Bank within five (5) Business Days of receipt by the Bank.