The Principle of Time Sample Clauses

The Principle of Time. The principle of time relates to the duration or period of time during which appropriated funds are available “to incur obligations and . . . to make expenditures.” The obligations and expenditures must be for bona fide needs to carry out the purpose (i.e., necessary expenses) during the time period specified in the appropriation document. Payments may be made after the available time period “only for payment of expenses properly incurred during the period of availability or to complete contracts properly made within that period of availability.”29 SNPLMA funds are “no-year funds,” meaning they can be authorized for expenditure by the Secretary at any time “until expended.” However, availability of project funds approved by the Secretary is limited by the duration of the project stated in the nomination as reflected in the project financial instrument, including modifications to the instrument that reflect any approved time extensions. The Secretary has directed that “projects will be implemented within the timeframe specified in the project nomination” and that time extensions should be “exceptions to the expected practice of timely implementation of projects and therefore limited in number and scope.”30 The Principle of Time is applied to SNPLMA projects as follows:  Funds are not authorized for obligation or new expenditures if the initial financial instrument has not been executed and received, or the time period of availability, referred to as the period of performance, in the funding instrument has expired, even if approval of a time extension is pending or anticipated.  The project “start date” is established by the execution date of the initial IAA, BLM task order, or Assistance Agreement and, for projects under transfer, the date the initial transfer request is forwarded to the IBC for entry into the U.S. Treasury system for processing and as reflected in the Authorization to Expend Transferred Funds Letter. When the project timeframe in the approved nomination is documented in the executed financial instrument (IAA, Assistance Agreement, Task Order, or Authorization to Expend Transferred Funds Letter) as explained above, the timeframe is then referred to as the “period of performance.” 28 This guidance has been in place since late 2007 and has been shared verbally with eligible agencies/entities.
Sample 1Sample 2
AutoNDA by SimpleDocs

Related to The Principle of Time

  • Principles of Construction All references to sections and schedules are to sections and schedules in or to this Agreement unless otherwise specified. All uses of the word “including” shall mean “including, without limitation” unless the context shall indicate otherwise. Unless otherwise specified, the words “hereof,” “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. Unless otherwise specified, all meanings attributed to defined terms herein shall be equally applicable to both the singular and plural forms of the terms so defined.

  • Definitions and Principles of Interpretation The following definitions in clause 1.1 shall be replaced as follows:

  • Sale of Timber Under the terms and conditions of this contract, STATE sells to PURCHASER, and PURCHASER buys from STATE, that Board of Forestry timber designated and described in the section titled, “Designated Timber,” which for all purposes of this contract is hereinafter referred to as "timber." The location of designated timber is shown on Exhibit A. PURCHASER shall pay STATE the "purchase price for timber" set forth in Section 44. The purchase price shall be paid to STATE in accordance with the payment schedule in Section 42. This is a sale of "State timber" as defined in OAR 629-031-0005 and may not be exported. The Forest Resources Conservation Amendments Act of 1993 authorizes Oregon and other western states to prohibit the export of unprocessed timber from public lands. PURCHASER must comply with the provisions of the federal act, ORS 526.801 through 526.831, and OAR 629-031-0005 through 629-031-0045 in disposing of State timber from this timber sale.

  • Computation of Time In computing any period of time prescribed or allowed by procedures herein, the date of the act, event, or default for which the designated period of time begins to run shall not be included. The last day of the period so computed shall be counted, unless it is a Saturday, a Sunday, or a legal holiday, in which event the period runs until the end of the next day which is not a Saturday, a Sunday, or a legal holiday.

  • Certain Rules of Interpretation In this Agreement:

  • Calculation of Time For the purposes of this Agreement, “days” refers to calendar days unless otherwise specified.

  • Effect of Time Limits If a grievance is not processed by the grievant at any step in accordance with the time limits of this Article, it shall be deemed withdrawn. If the District fails to respond to the grievance in a timely manner at any step, the running of its time limit shall be deemed a denial of the grievance and termination of the step in question, and the grievant may proceed to the next step. All time limits and grievance steps may be shortened, extended or waived, but only by mutual written agreement.

  • Rules of Construction Unless the context otherwise requires:

  • Limitation of Time to File Claims ANY CAUSE OF ACTION OR CLAIM YOU MAY HAVE ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE APPLICATION MUST BE COMMENCED WITHIN ONE (1) YEAR AFTER THE CAUSE OF ACTION ACCRUES OTHERWISE SUCH CAUSE OF ACTION OR CLAIM IS PERMANENTLY BARRED.

  • Definitions Rules of Construction In addition to terms otherwise defined herein, the following terms are used herein as defined below:

Time is Money Join Law Insider Premium to draft better contracts faster.