Contingency definition

Contingency means the identified and possible or already occurred fault of an element, including not only the transmission system elements, but also significant grid users and distribution network elements if relevant for the transmission system operational security;

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Contingency as used in this subpart, means a possible future event or condition arising from presently known or unknown causes, the outcome of which is indeterminable at the present time.

Contingency means an event or circumstance stated in an account agreement that is not certain to occur but must occur before the bank is obligated to pay a beneficiary.

Examples of Contingency in a sentence

• Activities under the Contingency Emergency Response Part shall be undertaken only after an Eligible Crisis or Emergency has occurred.

• Contingency requirements in the event of staff absences should also be identified.

• Contingency planning shall include, but not be limited to: - Evacuation of Supplier premises; IT and / or telecoms failure; Industrial Action (internal or external influences); Device / product recall; Production failure; And Working from home In the event of a Major Incident or local emergency involving an NHS body, the Supplier shall facilitate supply requests by telephone from the Authorised Person(s).

• In this scenario the Contractor may be required to enter into discussions with the Authority with a view to providing replacement services in respect of the relevant Contingency ESF Contract Areas, in accordance with clause 47.

• The Contingency Plan should detail the Contractor’s course of action in response to a significant future event or situation that could impact performance of the Contract.

More Definitions of Contingency

Contingency means a fund to cover non-general conditions cost growth during the Project used by CM@Risk with City approval, for charges in material costs or availability, resource availability, production capacity or unforeseen Project circumstances. The amount of CM@Risk’s Contingency will be negotiated as a separate line item in each GMP Proposal.

Contingency means an event or circumstance stated in an account agreement that is

Contingency. The estimated Cost of the Project shall include a contingency, an amount mutually agreeable between the Construction Manager and Owner, to cover costs approved by the Owner arising from minor design omissions, unforeseen conditions, and other costs which are properly reimbursable as costs to complete the original scope of Work, but not the basis for adjusting the Guaranteed Maximum Price by Change Order. The project contingency shall only be adjusted by means of issuing a written Constructive Change Directive, approved by the Owner, and it shall be clearly noted on the document that costs are allocated against the project contingency. When costs arise on the Project which the Construction Manager believes should be paid for from the Project contingency established in the GMP proposal, the Construction Manager shall promptly advise the Owner in writing of such costs consistent with the requirements of the Construction Documents. If the Owner concurs that such costs are properly payable from the Project contingency funds, then the Project contingency shall be reduced in the amount of such costs. The Construction Manager shall not be entitled to an additional fee or mark-up for any costs funded by the Project contingency. The contingency shall not be used to fund the cost to correct, replace or repair defective or noncompliant work or materials.

Contingency means an event or circumstance that gives rise to an increase in a contract price and which could not have been reasonably anticipated at the time of contract award;

Contingency means an unforeseeable event, which could neither have been prevented nor hindered by the director; contingencies are considered to be: modification of Romanian legal, regulatory or fiscal framework effective at the execution date of this Director Agreement and which encumbers the Company in excess;

Contingency means the amount budgeted for unforeseen costs.

Contingency means a condition or situation that is likely to endanger the individuals within the territorial jurisdiction of the State of Uttar Pradesh;