Preference Claim Sample Clauses
A Preference Claim clause defines the rights and obligations of parties if a payment made prior to a bankruptcy filing is later challenged as a preferential transfer under bankruptcy law. Typically, this clause requires the recipient of such a payment to return the funds if a bankruptcy trustee successfully asserts a preference claim, and may outline procedures for notification and repayment. Its core function is to allocate the risk of bankruptcy-related clawbacks, ensuring both parties understand their responsibilities and potential financial exposure in the event of insolvency proceedings.
Preference Claim. Section 3 Business Concerns. Answer if your firm will provide opportunities as follows to: (1) Section (2) “X” if Will Do (3) Description of persons such Opportunities will be provided to
2.3.1 Business concerns that are 51% or more owned by residents of the housing development(s) for which the section 3 covered assistance is expended, or whose full-time, permanent workforce includes at least 30% of these persons (category 1 businesses).
2.3.2 Business concerns that are 51% or more owned by residents of other housing developments or developments managed by the MPHA that is expending the section 3 covered assistance, or whose full-time, permanent workforce includes at least 30% of these persons (category 2 businesses).
2.3.3 HUD Youthbuild programs being carried out in the metropolitan area (or nonmetropolitan county) in which the section 3 covered assistance is expended (category 3 businesses).
2.3.4 Business concerns that are 51% or more owned by section 3 residents, or whose permanent, full-time workforce includes at least 30% section 3 residents (category 4 businesses), or that subcontract at least 25% of the total amount of subcontracts to business concerns.
Preference Claim. In accordance with Texas Administrative Code, Title 34, Part 1, Chapter 20, Subchapter D, Division 2, Rule 20.306, the Offeror shall check below if claiming a preference. If the appropriate line is not marked, a preference will not be granted unless other documents included in the proposal show a right to the preference.
K.5.1 Source and Specification Preferences
K.5.2 Tie-Bid Preferences
K.5.3 Additional Preferences
Preference Claim. Section 3 Business Concerns. The undersigned quoter hereby claims that it will, as a result of the contract award, and as detailed within 24 CFR §135.36, provide such "opportunities" as denoted following; to:
(1) Section (2) Will (3) Will Not (4) Description of persons such Opportunities will be provided to:
2.3.1 Business concerns that are 51 percent or more owned by residents of the housing development or developments for which the section 3 covered assistance are expended, or whose full-time, permanent workforce includes 30 percent of these persons as employees (category 1 businesses).
2.3.2 Business concerns that are 51 percent or more owned by residents of other housing developments or developments managed by the MPHA that is expending the section 3 covered assistance, or whose full-time, permanent workforce includes 30 percent of these persons as employees (category 2 businesses).
2.3.3 HUD Youthbuild programs being carried out in the metropolitan area (or nonmetropolitan county) in which the section 3 covered assistance is expended (category 3 businesses).
2.3.4 Business concerns that are 51 percent or more owned by section 3 residents, or whose permanent, full-time workforce includes no less than 30 percent section 3 residents (category 4 businesses), or that subcontract in excess of 25 percent of the total amount of subcontracts to business concerns identified in paragraphs (a)(1)(i) and (a)(1)(ii) of this section.
Preference Claim. Section 3 Business Concerns. The undersigned quoter hereby claims that it will, as a result of the contract award, and as detailed within 24 CFR §135.36, provide such "opportunities" as denoted following; to: Request for Proposals (RFP) No. P21001 – Scattered Sites New Construction Appendix 3, Section 3 Plan (1) Section (2) Will (3) Will Not (4) Description of persons such Opportunities will be provided to:
Preference Claim. 40 Pre-Funding Account............................................40