¨ Hurricane Provisions Clause Samples
Hurricane Provisions are contractual terms that address the rights and responsibilities of parties in the event a hurricane impacts the performance of the agreement. These provisions typically outline procedures for suspending work, extending deadlines, or reallocating costs if a hurricane disrupts operations, such as on a construction site or during the delivery of goods. By clearly defining how to handle delays, damages, or safety concerns caused by hurricanes, this clause helps allocate risk and ensures both parties understand their obligations during severe weather events.
¨ Hurricane Provisions. Section 1.7 of the Amendment regarding distributions made from the Plan on account of Hurricanes Katrina, Rita, or ▇▇▇▇▇ is adopted, subject to the following elections: (check any that apply) ¨ The special financial hardship distribution provision in Section 1.7(c) of the Amendment applies ¨ The Participant loan provision in Section 1.7(d) of the Amendment applies ¨ The re-contribution of Qualified Hurricane Distributions provision in Section 1.7(e) of the Amendment applies ¨ The re-contribution of Qualified Distributions provision in Section 1.7(f) of the Amendment applies
¨ Hurricane Provisions. If elected by the Sponsoring Employer in the Post-EGTRRA “Good Faith” Amendment Election Form, then except as otherwise provided in paragraphs (c) through (f) below, this Section applies to any Participant in the Plan that was affected by Hurricanes Katrina, Rita, or ▇▇▇▇▇: