PLA. Check the box for contracts under a Project Labor Agreement (PLA) which require the subcontractor to provide a signed Letter of Assent.
PLA. If Box 4 (PLA) is checked, you as the prime contractor must obtain signed Letter of Assent from the subcontractor which demonstrates that the subcontractor agrees to the terms of the PLA. Please attach the subcontractor's signed Letter of Assent to your response.
PLA. An amount of Crude Oil allocated as a deduction to Receipt Point volumes for the actual evaporation, interface losses, shrink and other normal losses during gathering, stabilization, blending and storage of Crude Oil under this Agreement, as determined by Gatherer acting as a Reasonable and Prudent Operator.
PLA. A volume of Crude Oil equivalent to [***]% of all Crude Oil delivered to the Gathering System pursuant to this Agreement, which is the agreed percentage of such Crude Oil to be retained by Gatherer as a deduction to Receipt Point volumes for the evaporation, interface losses, shrink and other normal losses during gathering and, if applicable, storage of Crude Oil gathered under this Agreement.
PLA. Current registered owner in FS that is subject to mtg & is liable for all obligations under the mtg. (when I transfer land subject to mortgage to you, bank immediately has your covenant that you are liable for payment of the mortgage).
PLA. If person transfers land subject to a residential mtg, that person ceases to be liable on the personal covenant aspect of the mortgage at the end of the term unless lender gives notice to this former owner w/n three mo that they will be making demand for payment. (so if 5 year term and no notice 3 mo before that term expires then xxxxx free even if new owner/assignee screws up).
PLA. If property subject to residential mtg is transferred and lender approves (in writing), then original owner is released from this personal covenant. Generally what happens is that bank gets new owner to sign assumption agreement – new owner assumes all obligations.
PLA. If lendor takes an “order absolute” / foreclosure, then lender has no further rights to enforce the personal covenant in the mortgage.
(ii) NOVATION – [may not be on exam] A new contract replacing an old contract … so the old parties are released from obligations under the original since it ceases to exist This issue often comes into play where terms of mtg are amended or mtg is renewed.
PLA. Vendor must adequately describe land and submit plans that describe the land to the LTO if that is required. If V is selling a portion of a legal parcel, the parcels must be described in ways registrable (puts obligation on V to ensure that the subdivision actually occurs before title to the subdivision passes). (recall Dynamic) s.185 LTA: Transfer that affects conveyance must be in prescribed form (meaning statutory Form A - Transfer; as opposed to Form B - Mortgage)—a single page: Includes legal description of land, name of transferor (must be exactly right), name of transferee (must be an entity capable of holding title in BC person or company/society; partnership cannot hold and interest in land); type of interest.
PLA. A project labor agreement is a pre-hire collective bargaining agreement with one or more labor organizations that establishes the terms and conditions of employment for a specific construction project. The PLA must: bind all contractors and subcontractors on the construction project through the inclusion of appropriate specifications in all relevant solicitation provisions and contract documents; allow all contractors and subcontractors on the construction project to compete for contracts and subcontracts without regard to whether they are otherwise parties to collective bargaining agreements; contain guarantees against strikes, lockouts, and similar job disruptions; set forth effective, prompt, and mutually binding procedures for resolving labor disputes arising during the term of the project labor agreement; and provide other mechanisms for labor-management cooperation on matters of mutual interest and concern, including productivity, quality of work, safety, and health.
