Contraction Sample Clauses

A Contraction clause defines the circumstances and procedures under which the scope, duration, or scale of an agreement or project may be reduced. Typically, this clause allows one or both parties to decrease their obligations, such as reducing the quantity of goods delivered, shortening the project timeline, or scaling back services provided, often with advance notice or under specific conditions. Its core function is to provide flexibility and manage risk by allowing adjustments to commitments in response to changing needs or unforeseen events.
POPULAR SAMPLE Copied 1 times
Contraction. In the event that the North Apron at the Brunswick-Golden Isles Airport is not constructed as contemplated on Exhibit “B”, which is attached hereto and made a part hereof by reference, the Apron Parcel shall be automatically revised on Exhibit “A” so as to provide that Lessee is only leasing that portion of the land adjacent to both Parcel B and the North Apron. The rent for the Apron Parcel would then be adjusted in accordance with the terms and amounts set forth herein for the reduced square footage.” 5. Add an entirely new paragraph 1.5 to Article I that reads as follows:
View Source
Contraction. As of September 1, 2009, (the “Effective Date”) the Premises subject to the Lease shall be amended to be the New Premises and Exhibit A attached to the Lease shall be deleted in its entirety and the attached Exhibit A shall be substituted therefor.
View Source
Contraction. If the drilling of the well may be avoided, Without other penalty, by contraction of the Unit Area, Unit Operator shall make reasonable effort to effect such contraction with the approval of the Director.
View SourceView Similar (2)
Contraction. Tenant shall have a one-time right to terminate a portion of the Leased Premises consisting of the top floor (sixth floor) of the Leased Premises, or another full floor if mutually agreed upon by Landlord and Tenant (the “Terminated Floor”) effective March 1, 2017 by providing not less than nine (9) months prior written notice to Landlord (“Contraction Notice”), and, simultaneous with the delivery of the Contraction Notice to Landlord, paying a contraction fee of $625,000 (“Contraction Fee”). The Contraction Fee shall be reported as receipt of a “Contraction Fee” in Landlord’s electronic financial records, it being the intention of the parties that the Contraction Fee is not for rent or use of the Leased Premises and that no State of Florida sales tax shall be due on the Contraction Fee. If sales tax is required to be paid with respect to the O1037432.2 5/9/2014 Contraction Fee, the Tenant shall pay said sales tax, plus all interest, late fees and penalties, within thirty (30) days of imposition by the Florida Department of Revenue, unless the same was due, solely and directly, to the Landlord’s failure to record the Contraction Fee as a Contraction Fee in Landlord’s electronic financial records. Tenant agrees to indemnify Landlord as to any claims, damages, liability or expenses of Landlord, including reasonable attorneys' fees or costs, arising from or related to sales tax that may be due with respect to the Contraction Fee, including any interest, late fees and penalties. This indemnity shall survive the contraction or expiration of the Lease. The foregoing option to downsize is subject to there being no event of default by Tenant under this Lease at the time such option is exercised that is not cured within the applicable cure period and provided that Landlord has not given Tenant notice of default more than two (2) times during the immediately preceding twelve (12) months. Upon Tenant properly exercising its contraction option set forth in this paragraph, the number of parking spaces allocated to Tenant shall be reduced by 91 spaces, and the provisions of Section 4(c) shall be triggered so that Tenant shall no longer have the right to provide the Tenant Maintenance Services. Tenant shall be required to modify Tenant’s security features to allow access to the Terminated Floor, through the building elevators, freight elevator and stairwells, by one or more other tenants of the Building, without passing through Tenant’s security features. Tenant shall no...
View SourceView Similar (4)
Contraction. So long as there is no Event of Default then existing, Landlord hereby grants to Tenant and Tenant shall have the right and options (each, a “Contraction Option”) on the dates set forth below (each, a “Contraction Date”), to reduce the size of the Premises as follows: December 31, 2004 24,431 RSF 18th Floor December 31, 2005 24,431 RSF 17th Floor December 31, 2006 23,291 RSF 16th Floor December 31, 2007 23,139 RSF 15th Floor December 31, 2008 23,139 RSF 14th Floor December 31, 2009 23,139 RSF 19th Floor Tenant shall exercise such rights to reduce the size of the Premises, if at all, by (i) providing Landlord with written notice of Tenant’s election to reduce the size of the Premises at least twelve (12) months prior to the applicable Contraction Date and (ii) specifying in such notice the applicable floor or floors of the Premises (in accordance with the following provisions of this Section 1(c) to be eliminated from the Premises (the “Contraction Space”) and the location of such space (the remaining Premises as reduced by the Contraction Space, herein called the “Premises”). The Contraction Space shall be determined by applying the following rules: (i) Tenant’s Contraction Options shall be cumulative in the event that Tenant does not exercise a Contraction Option in any year. As a point of clarification, in the event Tenant does not exercise the Contraction Option effective on December 31, 2004 for the 18th Floor, it may contract on December 31, 2005 by both the 18th and 17th Floors. Further as an example, in the event no floors have been contracted pursuant to this Section 2(c) by December 31, 2008, then Tenant shall have the option of contracting all six (6) floors effective December 31, 2009 by providing notice by December 31, 2008. (ii) Tenant shall elect each Contraction Option in full floor increments only beginning with the 18th floor and proceeding in the following order only: ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇ floor and 19th floor; and (iii) On or before the applicable Contraction Date, Tenant shall reimburse Landlord for any unamortized commissions, as of the applicable Contraction Date, paid by Landlord (such amount to be amortized over 10 years commencing January 1, 2005 at an interest rate of 9% per annum) and attributable to such Contraction Space. Upon the giving of a contraction notice by Tenant, this Lease shall terminate with respect to the portion of the Contraction Space eliminated therefrom as a result of such reduction at 11:59...
View Source
Contraction. If Tenant does not intend to use and occupy up to ----------- ten percent (10%) of the Demised Premises beyond the sixtieth (60th) month, it shall so notify Landlord not less than six (6) months before the aforesaid effective date of said contraction. In that case, Tenant shall quit and surrender up to said ten percent (10%) of the Demised Premises (it being understood that the precise amount and location of such square footage to be so surrendered shall be a leasable unit which shall be mutually determined by Landlord and Tenant) to Landlord on or before the aforesaid effective date of said contraction. Upon such surrender the parties shall promptly enter into an appropriate amendment of the Lease to reduce the Demised Premises, the Fixed Rent, Additional Rent, and all other mutually agreed upon matters.
View Source

Related to Contraction

  • Handover 14.1 It is a fundamental requirement by SANParks that the transfer of the AENP ▇▇▇▇ Braai Facility is undertaken on the basis that: 14.1.1 there is no or minimal disruption in the provision of goods and services to visitors to the Protected Area and includes use of vehicles for products on offer to visitors to the Protected Area; 14.1.2 any structural alterations do not cause the AENP ▇▇▇▇ Braai Facility to be closed unless alternatives are provided (unless it was closed in any event); 14.1.3 the handover shall be undertaken in such a manner to cause the least disruption and/or intrusion to SANParks and employees and then only in a manner which is mutually acceptable to both SANParks and the Private Party; 14.1.4 the Business will be conducted in the usual manner throughout the Handover Period; and 14.1.5 SANParks shall not be liable for any claims or actions which arise during the Handover Period irrespective of the cause or nature of same. 14.2 During the Handover Period: 14.2.1 the Private Party and SANParks shall co-operate and work together to achieve an effective transfer of control and management of AENP ▇▇▇▇ Braai Facility to the Private Party on the Operation Commencement Date; 14.2.2 the Private Party shall be entitled to nominate one or more representatives to be stationed at the AENP ▇▇▇▇ Braai Facility , to work with SANParks management to effect a smooth handover. The Private Party’s representatives shall however have no authority in relation to SANParks operations or employees during the Handover Period. 14.3 On the Operation Commencement Date, the Private Party shall assume full responsibility under this PPP Agreement for the operations, and expenses thereof, relating to the AENP ▇▇▇▇ Braai Facility , and be entitled to the fruits hereof.

  • Commencement of Work Engineer shall not commence any field work under this Contract until he/she/it has obtained all required insurance and such insurance has been approved by County. As further set out below, Engineer shall not allow any subcontractor/subconsultant(s) to commence work to be performed in connection with this Contract until all required insurance has been obtained and approved and such approval shall not be unreasonably withheld. Approval of the insurance by County shall not relieve or decrease the liability of Engineer hereunder.

  • Design ▇▇▇ ▇▇▇ ▇▇▇▇▇ Plan and Aligned Budget

  • SHAM CONTRACTING (a) The Parties to this Agreement acknowledge that sham contracting has the potential to undermine fair employment practices, erode Employee entitlements and affect the job security of Employees covered by this Agreement. A sham contracting arrangement includes where an employer attempts to disguise an employment relationship as an independent contracting arrangement. This is usually done for the purposes of avoiding responsibility for employee entitlements. (b) In this clause, "sham contracting" is where: (i) an employer employs, or proposes to employ, an individual, representing to the individual that the contract of employment under which the individual is, or would be, employed by the employer is a contract for services under which the individual performs, or would perform, work as an independent contractor; (ii) an employer dismisses, or threatens to dismiss, an individual who is an employee of the employer and performs particular work for the employer in order to engage the individual as an independent contractor to perform the same, or substantially the same, work under a contract for services; or (iii) an employer employs, or has at any time employed, an individual to perform particular work makes a statement that the employer knows is false in order to persuade or influence the individual to enter into a contract for services under which the individual will perform, as an independent contractor, the same, or substantially the same, work for the employer. (c) Clause 16.6(b)(i) does not apply if the employer proves that, when the representation was made, the employer did not know and was not reckless as to whether the contract was a contract of employment rather than a contract for services. (d) Any use of sham contracting is a breach of this Agreement. (e) Where a sham contracting arrangement has been reasonably alleged and is unable to be resolved at the workplace level, any Party may refer the allegation directly to the Disputes Panel for conciliation and/or resolution under clause 11 of this Agreement. All Parties will cooperate with the requests of the Disputes Panel including requests to provide substantiating information or undertaking an independent audit of their arrangements. For the avoidance of doubt, an affected Employee may appoint a representative in relation to such matters. (f) Where the sham contracting allegation exists on the Employer’s Project, the Employer will make itself available to assist the disputes resolution procedure. (g) Where the Disputes Panel Chair deems it necessary due to seriousness of the allegations and/or their findings, the Chair may refer the matter to the appropriate government authority. (h) Where it is agreed or determined by the Disputes Panel or FWC that a sham contract was in place and the person was in fact an Employee under this Agreement, the calculation for back pay will be calculated on the basis of the hourly rate contained in this Agreement plus the site allowance (if applicable), plus the multi-storey allowance and an additional 75% loading to cover entitlements other than CBUS and Incolink. Any difference between the hourly rate paid to the Employee, plus CBUS and Incolink will form the settlement for breach of this clause. The affected Employee will be re-inducted and fully informed of their entitlements under this Agreement and the Fair Work Act. (i) The Employer must ensure that a person engaged to undertake building work as an Employee or as an independent contractor is lawfully entitled to be so engaged under Australian law. (j) The Employer agrees that the Employees will be paid in accordance with the applicable wage rates and allowances as prescribed in this Agreement. (k) The Employer in particular acknowledges the Sham Contracting Compliance Checklist, as attached at Appendix L, provides a useful tool to ensure ongoing compliance.

  • Expansion Effective on and as of December 1, 2017 (such date being the -Expansion Commencement Date”), the Premises shall be expanded to include an additional 7,389 square feet of rentable area designated as Suite 100 of the Building (the “Expansion Space”), being more fully shown and described on the floor plan attached hereto as Exhibit A and made a part hereof for all purposes, for a term that is coterminous with the Lease Term. Tenant acknowledges that the Expansion Space is currently occupied by an existing tenant (the “Existing Tenant”) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease as of November 30, 2017. Tenant hereby waives any claims against Landlord in the event that such Existing Tenant holds over in the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over in the Expansion Space beyond the Expansion Commencement Date, the Expansion Commencement Date, and ▇▇▇▇▇▇’s obligation to commence paying rent with respect to the Expansion Space, shall nonetheless still commence on the Expansion Commencement Date. Following such Existing Tenant surrendering the Expansion Space to Landlord, Landlord shall thereafter deliver the same to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver to Tenant a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord within ten (10) business days after its receipt from Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement Date. In the event there is any delay in the delivery of the Expansion Space to Tenant (including, without limitation, due to the Existing Tenant holding over in the Expansion Space past the expiration of its lease), then this First Amendment shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such date; provided, however, the Expansion Commencement Date, and Tenant’s obligation to commence paying rent with respect to the Expansion Space, shall commence on the Expansion Commencement Date.