Extraordinary Contract definition

Extraordinary Contract means any contract or agreement to which the City is a party or under or on account of which the City may be or become obligated, directly or indirectly, pursuant to which the City will (or upon the occurrence of certain events or circumstances or the satisfaction of certain conditions may) incur a financial obligation or confer a financial benefit upon another, in either case in excess of one million ($1,000,000) dollars during any fiscal year of the City during the term of such contract or agreement or in excess of five million ($5,000,000) dollars in the aggregate during the term of such contract or agreement. The City shall not divide individual contracts into separate contracts for purposes of avoiding such limits. Notwithstanding the foregoing, the term "Extraordinary Contract", (a) shall in all cases include, without limitation, any contract or agreement to which the City is a party and which relates to the borrowing of money by the City (regardless of the amount thereof and regardless of whether such borrowing would legally constitute indebtedness of the City), or the direct or indirect guaranty or incurrence of a liability by the City (through an agreement of guaranty or suretyship, a service agreement or lease with an authority, or otherwise) of or on account of all or any portion of any indebtedness for money borrowed by another person or entity, (b) shall not include any contracts or agreements entered into by the City in the ordinary and usual course of business for the purchase of materials, equipment or supplies or for construction, alteration, repairs, maintenance or other services which are, in any such case, subject to the competitive bidding requirements of the Home Rule Charter or other relevant Pennsylvania law, and (c) shall not include any collective bargaining agreements entered into by the City with any labor union representing any employees of the City.

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Extraordinary Contract means any contract, agreement or arrangement which is (A) outside the ordinary course of the Company's business, (B) is not provided for or otherwise contemplated under the Annual Budget, and (C) requires the Company to provide aggregate consideration having a value in excess of $1,000,000;

Extraordinary Contract means any contract or agreement to which the City is a party or under or on account of which the City may be or become obligated, directly or indirectly, pursuant to which the City will (or upon the occurrence of certain events or circumstances or the satisfaction of certain conditions may) incur a financial obligation or confer a financial benefit upon another, in either case in excess of two million ($2,000,000) dollars during any fiscal year of the City during the term of such contract or agreement or in excess of ten million ($10,000,000) dollars in the aggregate during the term of such contract or agreement. The City shall not divide individual contracts into separate contracts for purposes of avoiding such limits. Notwithstanding the foregoing, the term "Extraordinary Contract" (a) shall in all cases include, without limitation, any contract or agreement to which the City is a party and which relates to the direct or indirect guaranty or incurrence of a liability by the City (through an agreement of guaranty or suretyship, a service agreement or lease with an authority, or otherwise) of or on account of all or any portion of any indebtedness for money borrowed by another person or entity, (b) shall not include any contract or agreement relating to a general obligation, revenue obligation or other debt instrument directly issued by the City, (c) shall not include any contracts or agreements entered into by the City in the ordinary and usual course of business for the purchase of materials, equipment or supplies or for construction, alteration, repairs, maintenance or other services which are, in any such case, subject to the competitive bidding requirements of the Home Rule Charter or other relevant Pennsylvania law, and

Examples of Extraordinary Contract in a sentence

The Authority may, within seven (7) Days after receipt by the Authority of said summary of the Extraordinary Contract and such statement of the Director of Finance, make comments or recommendations in writing with respect to such Extraordinary Contract, which comments and recommendations the City agrees to consider.
The Authority may within three (3) Days after receipt by the Authority of the full and complete Extraordinary Contract make comments and recommendations with respect to such Extraordinary Contract, which comments and recommendations the City agrees to consider prior to its execution of such Extraordinary Contract.
The Loan Agreement is hereby amended to add (a) Schedule 1.1x-1 attached hereto and made a part hereof (In-process Research and Development Expenses Resulting from the Acquisition of 3e Technologies International, Inc.) as Schedule 1.1x-1 thereto, and (b) Schedule 1.1x-2 attached hereto and made a part hereof (Extraordinary Contract Settlement Costs Incurred in Connection with the Acquisition of 3e Technologies International, Inc.) as Schedule 1.1x-2 thereto.
Within four (4) Days after receipt of the summary and written statement, the Authority may request a full and complete copy of the Extraordinary Contract.

More Definitions of Extraordinary Contract

Extraordinary Contract is defined in Section 8.03(m)(vii).