Average Clearance Clause Samples

The Average Clearance clause establishes a standard measurement for the minimum vertical space that must be maintained, typically in construction or engineering contexts. It specifies how the clearance is to be calculated—often as an average over a defined length or area—rather than requiring a uniform minimum at every point. This approach allows for minor variations in height while ensuring that the overall clearance remains sufficient for safety or operational needs, thereby providing flexibility in design and construction while still meeting regulatory or contractual requirements.
Average Clearance. For all transactions where the State pays out its funds for program purposes prior to receiving Federal funds, the Federal interest liability shall be based on the difference in whole days between the average date of clearance for the disbursement, as specified in Exhibit II, and the date the related Federal funds are credited to State account. With Federal-State matching programs, interest shall be calculated on the Federal percentage of the disbursement.
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Related to Average Clearance

  • Exchange Stock Market Clearance On the Closing Date, the Company’s shares of Common Stock, including the Firm Shares, shall have been approved for listing on the Exchange, subject only to official notice of issuance. On the first Option Closing Date (if any), the Company’s shares of Common Stock, including the Option Shares, shall have been approved for listing on the Exchange, subject only to official notice of issuance.

  • FINRA Clearance On or before the date of this Agreement, the Representative shall have received clearance from FINRA as to the amount of compensation allowable or payable to the Underwriters as described in the Registration Statement.