Province’s Response Clause Samples
The 'Province’s Response' clause outlines the obligations and procedures the provincial government must follow when responding to requests, notifications, or actions under the agreement. Typically, this clause specifies timelines for the province to reply, the format in which responses should be delivered, and any conditions that must be met for a response to be considered valid. Its core practical function is to ensure timely and clear communication between the parties, reducing misunderstandings and providing a predictable framework for interactions.
Province’s Response. The Province will review the Contractor’s submitted Payment Calculation and may conduct its own audit or assessment to determine the appropriate Payment Adjustments to be applied. Additionally, the Province will assess any holdbacks, holdback releases, set-offs, or other adjustments necessary to be applied to each month’s Payment Calculation. The Province will complete Category C and Category D of the Payment Calculation applying such holdbacks, holdback releases, set-offs, or other adjustments. On or before making a Payment and by way of a revised and completed Payment Calculation, the Province will notify the Contractor of any changes to Category A and Category B of the Payment Calculation as originally submitted by the Contractor.
Province’s Response. The Province will review the Contractor’s submitted Payment Calculation and may conduct its own audit or assessment to determine the appropriate Payment Adjustments to be applied. The Province may consult with the School Boards in performing any audit or assessment. Additionally, the Province will assess any holdbacks, holdback releases, set-offs, or other adjustments necessary to be applied to each month’s Payment Calculation. The Province will complete Category C and Category D of the Payment Calculation applying such holdbacks, holdback releases, set-offs, or other adjustments. On or before making a Payment and by way of a revised and completed Payment Calculation, the Province will notify the Contractor of any changes to Category A and Category B of the Payment Calculation as originally submitted by the Contractor.
Province’s Response. The Offer shall specify a deadline by which the Province must deliver the Response to Hydro One, which deadline shall be no earlier than ten Business Days after the Province receives the Offer. The Province shall be deemed to have declined the Offer if it does not deliver a Response by that deadline. In the Response, the Province must specify the number of Offered Securities that it wishes to purchase. If the Offer was delivered in connection with a proposed best-efforts or fully underwritten public offering (including an offering proposed on a “bought deal” basis) through an agent or underwriter, the Response may specify the maximum price or a range of prices per Offered Security at which the Province will exercise its right to subscribe for or purchase Offered Securities under the Offer (provided that the Response may specify more than one maximum price per Offered Security together with the corresponding maximum number of Offered Securities to be subscribed for or purchased at each maximum price). Any Response delivered by the Province to Hydro One will be irrevocable and will be a legally binding obligation of the Province to subscribe for and purchase the Offered Securities specified therein, provided that if the Proposed Offering is not completed by the Offering Outside Date, the Offer will be deemed to be automatically revoked.