Temporary Bond Reduction Sample Clauses

Temporary Bond Reduction. When, under I.3.3, Contracting Officer requests Contractor to delay or interrupt Contractor’s Operations for more than 90 days, the performance bond amount required may be temporarily reduced upon the written request of Contractor or at the discretion of Contracting Officer. For the period of the delay or interruption, the performance bond may be reduced to an amount not less than the estimated cost of uncompleted work required of Contractor and any unpaid xxxxxxxx due on the contract. Upon Contractor’s receipt of written notice from Contracting Officer that the basis for the delay or interruption no longer exists, Contractor shall restore the performance bond to the full amount shown in A.17 within 15 days. Contrac- tor shall not resume contract operations until the performance bond amount is fully restored.
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Temporary Bond Reduction. When, under B8.33, Contracting Officer orders a delay or interruption of Purchaser’s Operations for more than 30 days when scheduled operations would be occurring but for the order, the performance bond amount required shall be temporarily reduced upon the written request of Purchaser or at the discretion of Contracting Officer. For the period of the delay or interruption, the performance bond may be reduced to an amount not less than the es- timated cost of uncompleted work required of Purchaser and any unpaid xxxxxxxx due on the timber sale. Upon Purchaser’s receipt of written notice from Contracting Officer that the basis for the delay or interruption no longer exists, Purchaser shall restore the performance bond to the full amount shown in A17 within 15 days. Purchaser shall not resume contract operations until the performance bond amount is fully restored.
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Temporary Bond Reduction. When, under B8.33, Contracting Officer requests Contractor to delay or interrupt Contractor’s Operations for more than 90 days, the performance bond amount required may be temporarily reduced upon the written request of Con- tractor or at the discretion of Contracting Officer. For the period of the delay or interruption, the performance bond may be reduced to an amount not less than the estimated cost of uncompleted work required of Con- tractor and any unpaid xxxxxxxx due on the contract. Upon Contractor’s receipt of written notice from Contracting Officer that the basis for the delay or inter- ruption no longer exists, Contractor shall restore the performance bond to the full amount shown in A17 within 15 days. Contractor shall not resume contract op- erations until the performance bond amount is fully re- stored.
Sample 1Sample 2Sample 3See All (21)

Related to Temporary Bond Reduction

  • Temporary Bonds Pending the preparation of any Definitive Bonds, the Issuer may execute and upon its written direction, the Indenture Trustee may authenticate and make available for delivery, temporary Bonds that are printed, lithographed, typewritten, photocopied or otherwise produced, in any denomination, substantially of the tenor of the Definitive Bonds in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Bonds may determine, as evidenced by their execution of such Bonds. If temporary Bonds are issued, the Issuer will cause Definitive Bonds to be prepared without unreasonable delay. After the preparation of the Definitive Bonds, the temporary Bonds shall be exchangeable for Definitive Bonds upon surrender of the temporary Bonds at the office of the Indenture Trustee located at 123 Washington Street, New York, Nex Xxxx 00000, xxxxxxx xxxxxx xx xxx Xxxxxx. Xxxn surrender for cancellation of any one or more temporary Bonds, the Issuer shall execute and the Indenture Trustee shall authenticate and make available for delivery, in exchange therefor, Definitive Bonds of authorized denominations and of like tenor, class and aggregate principal amount. Until so exchanged, such temporary Bonds shall in all respects be entitled to the same benefits under this Indenture as Definitive Bonds.

  • Temporary Layoff The Employer may temporarily layoff an employee for up to ninety (90) days due to an unanticipated loss of funding, revenue shortfall, lack of work, shortage of material or equipment, or other unexpected or unusual reasons. An employee will normally receive seven (7) days notice of a temporary layoff.

  • Bond Reduction Upon Purchaser’s writ- ten request, Contracting Officer shall redetermine the amount of Purchaser’s performance bond to an amount not less than Purchaser’s remaining obligations, including the value of Included Timber remaining on Sale Area, plus the estimated cost of uncompleted work required of Purchaser and any unpaid xxxxxxxx due on the timber sale. Contracting Officer shall provide written notice of the re- determined amount to Purchaser and to Purchaser’s surety. Similarly, Contracting Officer shall report to Pur- chaser in writing the amount of deposited cash or depos- ited securities required thereafter, if such deposits exist in lieu of a surety bond. As soon as security for the performance of this con- tract or the settlement of Claims incident thereto is no longer necessary, appropriate notice shall be given to surety or deposits that may have been made in lieu of surety bond shall be returned to Purchaser, subject to the conditions in B9.5.

  • Temporary Reduction of Downpayment When, under B8.33, Contracting Officer orders a delay or interruption of Purchaser’s Operations for more than 30 days when scheduled operations would be occurring but for the order, the downpayment amount required shall be temporarily reduced upon the written request of Purchaser or at the discretion of the Contracting Officer. For the period of the delay or interruption, the downpayment on deposit may be reduced to $1,000 or two (2) percent of the downpayment amount listed in A18, whichever is larger. Any downpayment amount temporarily reduced pursuant to this Subsection may be refunded or transferred at the request of Purchaser. However, if Purchaser has outstanding debt owed to the United States, Contracting Officer must apply the amount of downpayment that could be refunded to the debt owed in accordance with the Debt Collection Improvement Act, as amended (31 USC 3701, et seq.).

  • Temporary Upgrade An employee in a temporary upgrade status shall have no right to grieve or arbitrate release from such temporary upgrade status.

  • Temporary Suspension 13.1. JetBrains reserves the right to suspend Customer’s access to JetBrains Products if:

  • Temporary Vacancy A vacancy in a position caused by the regularly assigned occupant being absent from duty (including on vacation but excluding pre-retirement vacation) or temporarily assigned to other duties.

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