Common use of Temporary Bond Reduction Clause in Contracts

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.

Temporary Bond Reduction. When, under B8.33, Contracting Officer orders a requests Purchaser to delay or interruption of in- terrupt Purchaser’s Operations for more than 30 days when scheduled operations would be occurring but for the order90 days, the performance bond amount required shall may be temporarily reduced re- duced upon the written request of Purchaser Xxxxxxxxx or at the discretion of Contracting Officer. For the period of the delay or interruptioninter- ruption, the performance bond may be reduced to an amount not less than the es- timated estimated cost of uncompleted work required re- quired 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 on Page 1 within 15 days. Purchaser Pur- chaser shall not resume contract operations until the performance bond amount is fully restored.

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 per- formance 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 estimated 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 on Page 1 within 15 days. Purchaser Pur- chaser shall not resume contract operations until the performance bond amount is fully restored.

Temporary Bond Reduction. When, under B8.33, Contracting Officer orders a requests Xxxxxxxxx to delay or interruption of in- terrupt Purchaser’s Operations for more than 30 days when scheduled operations would be occurring but for the order90 days, the performance bond amount required shall may be temporarily reduced re- duced upon the written request of Purchaser or at the discretion of Contracting Officer. For the period of the delay or interruptioninter- ruption, the performance bond may be reduced to an amount not less than the es- timated estimated cost of uncompleted work required re- quired 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 on Page 1 within 15 days. Purchaser Pur- chaser shall not resume contract operations until the performance bond amount is fully restored.