Time and Material definition
Time and Material is, as to any Service: (i) the product of any applicable Personnel Rates for each of the Contractor’s personnel that provided such Service, multiplied by the number of hours expended by such personnel on such Service; plus (ii) the product of any applicable Equipment Rates for each of the Contractor’s Equipment that provided such Service, multiplied by the number of hours expended by such Equipment on such Service; plus (iii) the costs the Contractor evidences, to the University’s reasonable satisfaction, to have been incurred for material consumed or installed as part of the Services (excluding any material for which the cost is included in the Hourly Rates); plus (iv) an amount equal to any Material Markup specified on Schedule A of any material cost described in (iii); plus (v) any Subcontractor Cost approved by the University in advance; plus (vi) an amount equal to any Subcontractor Markup specified on Schedule A of any such Subcontractor Cost. The Contractor shall provide UConn with such evidence of costs included in Time and Material as UConn may request.
Time and Material means any sale of goods and services, excluded from the scope of this Agreement and charged to the Company, which is subject to the ATR general terms and conditions of sale of goods and services;
Time and Material in connection with a warranty claim is defined as follows:
(i) With respect to "Time", the product of one hundred fifteen percent (115%) of the normal hourly wage (including fringe benefits, insurance and taxes) Owner pays with respect to its particular employee (not including overhead) multiplied by the number of hours each employee performed the particular Work.
(ii) With respect to "Material", one hundred ten percent (110%) of the actual purchase price paid by Owner or an affiliate to a third party for the materials incorporated or consumed in connection with the Work; and
(iii) With respect to Work performed by a subcontractor, one hundred ten percent (110%) of the actual amount paid by Owner to the subcontractor for such Work.
Examples of Time and Material in a sentence
Any claim to extend the Contract Time and Material Completion and Occupancy Date not made in writing to Owner within the above time periods shall be deemed waived and shall not thereafter be valid.
Any claim to extend the Contract Time and Material Completion and Occupancy Date must be in writing, must set forth in detail the basis for the claim and the number of days of delay claimed, must be correlated with the approved Overall Project Schedule, must be executed by the Contractor and delivered to the Design Professional and the Owner, and must be reviewed and an appropriate time assessed by the Design Professional.
CAPPED TIME AND MATERIAL CHARGES Where Services for this Release are being delivered on a Capped Time and Materials Basis, the provisions of this paragraph 5.1 and the Time and Material Rates set out at paragraph 5.3.5 shall apply.
Time and Material charges will include all technicians dispatched, including technicians dispatched to other locations for purposes of testing.
Extra services will be billed on a Time and Material basis with prior approval of the CLIENT.
More Definitions of Time and Material
Time and Material. The Contractor shall perform the Services described in Exhibit A and shall invoice the City for work performed based on the rates and/or compensation methodology described in Exhibit B. Total compensation (including any and all mobilization costs, other costs, charges, fees, or other expenses that might otherwise be incurred by other contractors
Time and Material in connection with a warranty claim is defined as follows:
(i) With respect to "Time", the product of one hundred fifteen percent (115%) of the normal hourly wage (including fringe benefits, insurance and taxes) Company pays with respect to its particular employee (not including overhead) multiplied by the number of hours each employee performed the particular Work;
(ii) With respect to "Material", one hundred ten percent (110%) of the actual purchase price paid by Company or an affiliate to a third party for the materials incorporated or consumed in connection with the Work; and
(iii) With respect to Work performed by a subcontractor (other than an entity which directly or indirectly controls, is controlled by, or is under common control with, Company, Work done by any such entity being deemed Work done by Company through its own employees for purposes of this definition), one hundred ten percent (110%) of the actual amount paid by Company to the subcontractor for such Work.
Time and Material means the invoicing of Services not included in a Fixed Price based on a) the number of labor hours chargeable by Aeroman for such Services times the Labor Rate, b) Materials at its catalog price plus the Handling Fee, and c) Outside Services at their actual cost to Aeroman plus the Handling Fee.
Time and Material means (i) the hourly rate charged by Y-IT in respect of services rendered by it in accordance with Y- IT’s reasonable standard service charges from time to time and (ii) the costs of all material(s) used by Y-IT in rendering such services;
Time and Material means the method of payment under which the Contractor accepts Extra Work defined in an Expenditure Authorization on a basis which reimburses the Contractor's cost to perform calculated with labor rates, expenses, fees, and markups pursuant to Exhibit Actual labor cost will be invoiced based on customer signed Long Term Services Agreement San ▇▇▇▇ Combined Cycle Units 5 and 6 Proprietary and Confidential
Time and Material or “T&M” shall mean the procurement of supplies or services pursuant to FAR Subpart 16.601 on the basis of direct labor hours at specified fixed hourly rates (which rates include direct and indirect labor, overhead, and profit), and material at cost (including material handling costs, if appropriate).
Time and Material is, as to any Service: (i) the product of any applicable Hourly Rates for each of the Contractor’s personnel that provided such Service, multiplied by the number of hours expended by such personnel on such Service; plus (ii) the costs the Contractor evidences, to the University’s reasonable satisfaction, to have been incurred for material consumed or installed as part of the Services (excluding any material for which the cost is included in the Hourly Rates); plus (iii) the costs the Contractor evidences, to the University’s reasonable satisfaction, to have incurred for equipment rental as part of the Services (excluding any equipment for which the cost is included in the Hourly Rates); (iv) an amount equal to any Material and Supply markup specified on Schedule A-1 of any material cost described in (ii); plus (v) an amount equal to any Equipment markup specified on Schedule A-1 of any equipment described in iii); plus (vi) any Subcontractor Cost approved by the University in advance; plus (vii) an amount equal to any Subcontractor markup specified on Schedule A-1 of any such Subcontractor Cost. The Contractor shall provide UConn with such evidence of costs included in Time and Material as UConn may request.