Deemed New Contract definition

Deemed New Contract means an agreement on the same terms and conditions as this Contract as at the Termination Date, but with the following amendments:
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Deemed New Contract an agreement on the same terms and conditions as this Contract, as at the Termination Date, but with the following amendments:-
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Deemed New Contract an agreement on the same terms and conditions as this Agreement as at the Termination Date, but with the following amendments:- (a) if this Agreement is terminated prior to achieving the Service Availability Date for each Resource Park, then each relevant Target Service Availability Date shall be extended by such period as would have been granted to allow a New Contractor to achieve completion of the Works; (b) any accrued Performance Points and/or warning notices shall, for the purposes of termination only, and without prejudice to the rights of the Authority to make financial Deductions be cancelled; (c) the term of such agreement shall be for a period equal to the term from the Termination Date to the Expiry Date; and (d) the inclusion of a provision confirming that in the event that any New Contractor Rectification Works are required (in relation to a Waste Management Facility that has, at the Termination Date, been completed) to enable the New Contractor to provide the Services to the full specification and standards required by this Contract then provided that the New Contractor complies with the New Contractor Rectification Plan for the New Contractor Rectification Period the Authority shall not exercise its rights to terminate the Contract under clause 29.3 (Termination for Contractor Default) by reason of any failure to achieve some or all of the specification and/or standards required by this Agreement solely as a consequence of the New Contractor Rectification Works being required. Such provision shall for the avoidance of doubt not affect the Authority’s entitlement to make adjustments and/or Deductions in accordance with Schedule 5 (Payment Mechanism) as a result of failure to achieve the specification and/or standards required by this Agreement during the New Contractor Rectification Period;
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Examples of Deemed New Contract in a sentence

  • Where a food safety incident occurred outside China may impose impacts on our country or a serious food safety problem is found in the imported food, the General Administration of Customs shall take early warning or control measures in a timely manner, report it to the State Administration for Market Regulation, and the State Administration for Market Regulation shall take appropriate measures without delay.

  • At a high level, the Councils’ case is that every obligation that RRS was under as at the date of termination is an obligation that has to be priced into what the hypothetical bidder would bid in order to take on the Deemed New Contract.

  • There appears, therefore, to be a tension on the face of the Contract (which has manifested itself in the dispute before me on this application) between an assessment which centres upon a notional Deemed New Contract, and an assessment which centres upon what the Councils actually forecast to incur (or some potentially objective version of the same).

  • This issue, as phrased, essentially sets against each other the two, high level, pleaded positions: does ‘standard required’ mean the cost of procuring all the Contractor’s obligations under the Deemed New Contract or does it refer to the more limited cost of Works and/or Services “that delivers the full Unitary Charge without Deductions and not any costs which may relate to any other requirement or obligation”.

  • If the parties’ intention was that 58.3.3.3 merely required a expert’s assessment of what a third party might notionally bid for a scope of work defined by the Deemed New Contract (whatever that scope may be), this is all the clause needed to say.

  • The principal difficulty faced by the Councils, and why I do not consider that the proper construction of the mechanism is in any way ‘clear’, is that there is no real justification for any of the verbiage in clauses 58.3.3.1 to 58.3.3.3 if the mechanism is never any more than a notional one requiring an expert to value the Deemed New Contract.


More Definitions of Deemed New Contract

Deemed New Contract means an agreement on the same terms and conditions as this Project Agreement, as at the Termination Date, but with the following amendments: if this Project Agreement is terminated prior to the Service Commencement Date, then the Service Commencement Date will be extended by a period to allow a New Contractor to achieve Service Commencement; any accrued Performance Points will be cancelled; and the term of such agreement will be for a period equal to the term from the Termination Date to the Expiry Date;
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Deemed New Contract has the meaning given to it in Clause 43 (Definitions);
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Deemed New Contract an agreement on the same terms and conditions as this Agreement as at the Termination Date, but with the following amendments: (a) if this Agreement is terminated prior to a Service Availability Date, then the relevant Target Service Availability Date [s] shall be extended by such period as would have been granted to allow a New Contractor (had one been appointed) to achieve completion of the Works [at the School [s] in question]; (b) any accrued Performance Points shall be cancelled; and (c) the term of such agreement shall be for such period as is equal to the term from the Termination Date to the Expiry Date
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Related to Deemed New Contract

  • Award of Contract means the decision of the Purchaser to enter into a Contract with the Supplier for supply and delivery of the specified Goods, including any Related Services.

  • Deemed Contract means a contract which is deemed to have automatically been formed when we supply gas or electricity to your property where you have not actively agreed to a new supply of gas and/or electricity from us;

  • Appraisal assignment means an engagement for which an

  • Proposed Contract means the agreement including any other terms and conditions contained in or referred to in this RFP that may be executed between the DBSA and the successful Bidder.

  • Notice of Award of Contract / „Letter of Award‟ shall mean the official notice issued by the Owner notifying the Contractor that his bid has been accepted.

  • Major Contract means (i) any management agreement relating to the Properties or the Loan Parties, (ii) any agreement between any Loan Party and any Affiliate of any Relevant Party and (iii) any brokerage, leasing, cleaning, maintenance, service or other contract or agreement of any kind (other than Leases) relating to the Properties, in each case involving payment or expense of more than One Million and No/100 Dollars ($1,000,000) during any twelve (12) month period, unless cancelable on thirty (30) days or less notice without requiring payment of termination fees or payments of any kind.

  • Loss of Stock Borrow means that the Issuer and/or any Affiliate is unable, after using commercially reasonable efforts, to borrow (or maintain a borrowing of) any Share in an amount equal to the Hedging Shares at a rate equal to or less than the Maximum Stock Loan Rate.

  • Additional Cut-Off Date means, with respect to the Additional Accounts designated hereby, __________, ____.

  • Effective Date of Contract means the date established in the Contract for the Contractor’s work to begin, or the date the Contract has been fully executed and received all required approvals, whichever date is later.

  • sub-contract means the primary contractor’s assigning, leasing, making out work to, or employing, another person to support such primary contractor in the execution of part of a project in terms of the contract;

  • Automatic tabulating equipment means apparatus that automatically examines

  • Term contract means contracts established by the chief procurement officer for specific supplies, services, or information technology for a specified time and for which it is mandatory that all governmental bodies procure their requirements during its term. As provided in the solicitation, if a public procurement unit is offered the same supplies, services, or information technology at a price that is at least ten percent less than the term contract price, it may purchase from the vendor offering the lower price after first offering the vendor holding the term contract the option to meet the lower price. The solicitation used to establish the term contract must specify contract terms applicable to a purchase from the vendor offering the lower price. If the vendor holding the term contract meets the lower price, then the governmental body shall purchase from the contract vendor. All decisions to purchase from the vendor offering the lower price must be documented by the procurement officer in sufficient detail to satisfy the requirements of an external audit. A term contract may be a multi‑term contract as provided in Section 11‑35‑2030.

  • Date of Contract means the date on which notification of award of contract/letter of award/telex award has been issued.

  • CFD Contract or "CFD" shall mean a contract which is a contract for difference by reference to fluctuations in the price of the relevant security or index;

  • Qualified Contract A Contract that qualifies under the Code as an individual retirement annuity (“IRA”) or a Contract purchased under a Qualified Plan that qualifies for special tax treatment under the Code. Qualified Plan — A retirement plan that receives favorable tax treatment under Section 401, 403, 408, 408A or 457 of the Code. Quarterly Contract Anniversary — Every three month anniversary of the Contract Date. SEC — Securities and Exchange Commission.

  • Adjusted Net Mortgage Rate As to each Mortgage Loan and at any time, the per annum rate equal to the Mortgage Rate less the Expense Fee Rate.

  • Eligible Real Property means the real property listed on Schedule 1.01(a) owned by a Loan Party (i) that is located in the United States of America and is acceptable to the Agent in its Permitted Discretion for inclusion in the Borrowing Base, (ii) in respect of which an appraisal report has been delivered to the Agent in form, scope and substance satisfactory to the Agent in its Permitted Discretion, (iii) in respect of which the Agent is satisfied that all actions necessary or desirable in order to create perfected first priority Lien on such real property have been taken, including the presentation or delivery of the Mortgage to a title insurance company for recording, provided that the title insurance company has issued its title insurance policy to the Agent pursuant to clause (v) below in a New York style closing, (iv) in respect of which a Phase I environmental review report has been completed and delivered to the Agent in form and substance satisfactory to the Agent in its Permitted Discretion and which does not indicate any pending, threatened or existing Environmental Liability, or non compliance with any Environmental Law (except to the extent that Reserves for any such Environmental Liability deemed adequate by the Agent in its Permitted Discretion exist), (v) which is adequately protected by fully-paid valid title insurance with endorsements and in amounts acceptable to the Agent, insuring that the Agent, for the benefit of the Lenders, has a perfected first priority Lien on such real property, evidence of which shall have been provided in form and substance satisfactory to the Agent in its Permitted Discretion, and (vi) if required by the Agent: (A) an ALTA survey reasonably acceptable to the Agent and the title insurance company has been delivered for which all necessary fees have been paid and which is dated no more than 90 days prior to the date on which the applicable Mortgage is executed and delivered to a title insurance company for recording, certified to Agent and the issuer of the title insurance policy in a manner satisfactory to the Agent in its Permitted Discretion by a land surveyor duly registered and licensed in the state in which such Eligible Real Property is located and acceptable to the Agent in its Permitted Discretion; (B) in respect of which local counsel in states in which the Eligible Real Property is located have delivered a letter of opinion with respect to the enforceability and perfection of the Mortgages and any related fixture filings in form and substance satisfactory to the Agent in its Permitted Discretion; and (C) in respect of which such Loan Party shall have used its reasonable best efforts to obtain estoppel certificates executed by all tenants of such Eligible Real Property and such other consents, agreements and confirmations of lessors and third parties have been delivered as the Agent may deem necessary or desirable in its Permitted Discretion, together with evidence that all other actions that the Agent may deem necessary or desirable in order to create perfected first priority Liens on the property described in the Mortgages have been taken.

  • New Contracts means binding new agreements or amendments to existing agreements with customers.

  • Eligible Property means property beneficially owned by a person or entity other than the Fund and held in a bank account maintained by BNYM for or on behalf of the Fund, or property held in a Fund shareholder account, which is (x) subject to reporting or escheat under an Unclaimed Property Law, (y) of a nature or type or classification reasonably related to the services performed by BNYM under this Agreement (such as cash amounts representing non-negotiated dividend checks and shares in abandoned shareholder accounts), and (z) under the control of BNYM.

  • Appraisal Well means a Well drilled pursuant to an Appraisal Programme.

  • Sale and Lease-Back Transaction shall have the meaning assigned to such term in Section 6.03.

  • Key Sub-Contract means each Sub-Contract with a Key Sub-Contractor;

  • Asset Pool 1 Supplement means the Asset Pool 1 Supplement dated as of October 9, 2002, by and between the Issuer and the Indenture Trustee, as amended and supplemented from time to time.