Tolling/Autoextender Clause Samples

A Tolling/Autoextender clause serves to automatically extend the duration of a contract or a specific deadline when certain events occur, such as delays caused by force majeure, litigation, or regulatory review. In practice, this means that if a triggering event interrupts the normal timeline, the affected period is paused or extended for the length of the delay, ensuring that parties are not penalized for circumstances beyond their control. The core function of this clause is to provide flexibility and fairness by adjusting contractual timelines to account for unforeseen interruptions, thereby reducing the risk of breach due to unavoidable delays.
Tolling/Autoextender. Any period of restriction contained herein shall be extended and tolled for any period of breach, such that the Bank receives the full benefit of the bargain with respect to the agreed upon period of restriction. ​
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Related to Tolling/Autoextender

  • Service Commencement Date The date the Transmission Provider begins to provide service pursuant to the terms of an executed Service Agreement, or the date the Transmission Provider begins to provide service in accordance with Section 15.3 or Section 29.1 under the Tariff.

  • Contract Term Extension “Contract Term Extension” means an extension of the term of this contract, at the request of Purchaser, under this Subsection. This Subsection does not obligate Contracting Officer to grant Contract Term Extension.

  • Trial Service Period An employee who has satisfactorily completed their probationary period and who is subsequently appointed to a position in another classification shall serve a twelve (12) month trial service period, in accordance with Section 10.1.3. 10.4.1 The trial service period shall provide the department with the opportunity to observe the employee's work and to train and aid the employee in adjustment to the position, and to revert such an employee whose work performance fails to meet required standards. 10.4.2 An employee who has been appointed from one classification to another classification within the same or different department and who fails to satisfactorily complete the trial service period shall be reverted to a vacant position within that department and classification from which the employee was appointed. 10.4.3 Where no such vacancy exists, such employee shall be given fifteen (15) calendar days' written notice prior to being placed on a Reversion Recall List for their former department and former classification and being removed from the payroll. 10.4.4 An employee’s trial service period may be extended up to three (3) additional months by written mutual agreement between the department, the employee and the Union, subject to approval by the Seattle Human Resources Director prior to expiration of the trial service period. 10.4.5 Employees who have been reverted during the trial service period shall not have the right to appeal the reversion. 10.4.6 The names of regular employees who have been reverted for purposes of re- employment in their former department shall be placed upon a Reversion Recall List for the same classification from which they were promoted or transferred for a period of one (1) year from the date of reversion. 10.4.7 If a vacancy is to be filled in a department and a valid Reversion Recall List for the classification for that vacancy contains the name(s) of eligible employees who have been removed from the payroll from that classification and from that department, such employees shall be reinstated in order of their length of service in that classification. The employee who has the most service in that classification shall be the first reinstated. 10.4.8 An employee whose name is on a Valid Reversion Recall List for a specific job classification who accepts employment with the City in that same job classification shall have their name removed from the Reversion Recall List. Refusal to accept placement from a Reversion Recall List to a position the same, or essentially the same, as that which the employee previously held shall cause an employee’s name to be removed from the Reversion Recall List, which shall terminate rights to reemployment under this Reversion Recall List provision. 10.4.9 An employee whose name is on a valid Reversion Recall List who accepts employment with the City in another class and/or department shall have their name removed from the Reversion Recall List. 10.4.10 A reverted employee shall be paid at the step of the range which the employee normally would have received had the employee not been appointed.

  • Optional Services To the extent that the Fund elects to engage the Transfer Agent to provide the services listed below the Fund shall engage the Transfer Agent to provide such services upon terms and fees to be agreed upon by the parties: (a) Corporate actions (including inter alia, odd lot buy backs, exchanges, mergers, redemptions, subscriptions, capital reorganization, coordination of post-merger services and special meetings).

  • Period 4.1. The period of this Framework Agreement is from and including 1 August 2019 (the “Commencement Date”) to and including 31 July 2023 unless it is terminated earlier under Clause 4.2. 4.2. The period of Call-off Contracts is addressed in the Standard Terms of Supply. The period of a Call-off Contract may continue notwithstanding that the Framework Agreement has expired or terminated.