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 1
AutoNDA by SimpleDocs

Related to The Principle of Time

  • Certain Rules of Construction No party shall be considered as being responsible for the drafting of this Agreement for the purpose of applying any rule construing ambiguities against the drafter or otherwise. No draft of this Agreement shall be taken into account in construing this Agreement. Any provision of this Agreement which requires an agreement in writing shall be deemed to require that the writing in question be signed by the Executive and an authorized representative of the Company.

  • Definitions Principles of Construction Section 1.1. Definitions 1 Section 1.2. Principles of Construction 16

  • Definitions and Principles of Construction Section 1.1 Defined Terms 1 Section 1.2 Principles of Constructions 1

  • 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 Certain Rules of Construction As used herein, the following terms will have the following meanings:

  • Time of the Essence; Computation of Time Time is of the essence for each and every provision of this Agreement. Whenever the last day for the exercise of any privilege or the discharge or any duty hereunder shall fall upon a Saturday, Sunday, or any date on which banks in New York, New York are authorized to be closed, the party having such privilege or duty may exercise such privilege or discharge such duty on the next succeeding day which is a regular business day.

  • General Rules of Construction Except as expressly stated otherwise, all references to “Paragraph(s)” or “Section(s)” in this Contract are references to Paragraphs and Sections of this Contract or the Exhibits attached to this Contract; and all references to Exhibit(s) are references to the Exhibits attached hereto. The table of contents and headings used in this Contract are for reference and convenience only, do not in any way define, limit, describe, or amplify the provisions of this Contract or the scope or intent of its provisions, are not a part of this Contract, and will not enter into the interpretation of this Contract. All references to “days” in this Contract mean calendar days unless otherwise stated. The term “business day” means Monday through Friday, excluding holidays observed by the School District.

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

  • Interpretation; Rules of Construction When a reference is made in this Agreement to Exhibits, such reference shall be to an Exhibit to this Agreement unless otherwise indicated. When a reference is made in this Agreement to Sections, such reference shall be to a Section of this Agreement unless otherwise indicated. When a reference is made in this Agreement to Articles, such reference shall be to an Article of this Agreement unless otherwise indicated. The words “include”, “includes” and “including” when used herein shall be deemed in each case to be followed by the words “without limitation”. 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. All terms defined in this Agreement shall have the defined meanings when used in any certificate or other document made or delivered pursuant hereto unless otherwise defined therein. The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such term. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. References to the Subsidiaries of an entity shall be deemed to include all direct and indirect Subsidiaries of such entity. References to a Person are also to its permitted successors and assigns. Any agreement, instrument or statute defined or referred to herein or in any agreement or instrument that is referred to herein means such agreement, instrument or statute as from time to time amended, modified or supplemented, including (in the case of agreements or instruments) by waiver or consent and (in the case of statutes) by succession of comparable successor statutes and references to all attachments thereto and instruments incorporated therein. The parties hereto agree that they have been represented by legal counsel during the negotiation and execution of this Agreement and, therefore, waive the application of any law, regulation, holding or rule of construction providing that ambiguities in an agreement or other document shall be construed against the party drafting such agreement or document.

  • 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.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!