Reduced payment definition

Reduced payment means a payment that is for less than the amount agreed upon in a subcontract in accordance with its terms and conditions, for supplies and services for which the Government has paid the prime contractor.
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Reduced payment shall have the meaning set forth in Section 11(a).
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Reduced payment means a payment that is for less than the amount agreed upon in a subcontract in accordance with its terms and
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Examples of Reduced payment in a sentence

  • I request the following forbearance (check one): □ No pay forbearance - no payments are required (Refer to Section 3, Items 4 & 5 below.) □ Reduced payment forbearance - interest-only payments are required (Refer to Section 3, Items 5-8 below.) Please provide the reason you are requesting forbearance, for example, unemployment, you are enrolled in school and are not eligible for in-school deferment, financial hardship, etc.

  • As used in this clause-- Reduced payment means a payment that is for less than the amount agreed upon in a subcontract in accordance with its terms and conditions, for supplies and services for which the Government has paid the prime contractor.

  • Reduced payment guaranteed for ten (10) year period or for the life of participant, if longer.


More Definitions of Reduced payment

Reduced payment means a payment that is for less than the amount agreed upon in a lower-tier subcontract in accordance with its terms and conditions, for supplies and services for which NREL has paid the subcontractor.
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Reduced payment shall have the meaning set forth in Section 20(d).
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Reduced payment means a payment that is for less than the amount agreed upon in a subcontract in accordance with its terms and conditions, for supplies and services for which the Government has paid the prime contractor. “Subcontract” means any agreement (other than one involving an employer-employee relationship) entered into by a Federal Government prime Contractor or subcontractor calling for supplies or services required for performance of the contract or subcontract.
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Reduced payment shall have the meaning set forth in Section 1 l(a). (bb) "Section 409A" shall have the meaning set forth in Section lO(a).
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Related to Reduced payment

  • Deferred Payment means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits, that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Required Payment shall have the meaning assigned such term in Section 4.04.

  • Required Payment Amount shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(a) of the Sale and Servicing Agreement.