CONTROLLABLE MATERIALS Sample Clauses

The "Controllable Materials" clause defines which materials or resources within a project or contract are under the direct control and management of a specified party, typically the contractor or supplier. This clause outlines the types of materials that must be tracked, reported, or handled according to agreed standards, such as inventory used in manufacturing or components supplied for a construction project. By clearly identifying controllable materials, the clause helps allocate responsibility for their quality, usage, and potential losses, thereby reducing disputes and ensuring accountability throughout the contract.
CONTROLLABLE MATERIALS. 4.6.1 The Contractor shall control the acquisition, location, storage and disposition of materials which are subject to accounting record control, physical inventory and adjustment for overages and shortages (hereinafter referred to as Controllable Material). 4.6.2 Unless additional inventories are scheduled by the JMC, Contractor shall conduct one physical inventory of the Controllable Material each Calendar Year which shall be completed prior to the end of each such year. The Contractor shall conduct said inventory on a date to be approved by the JMC. Failure on the part of GNPC to participate in a JMC schedule or approved physical inventory shall be regarded as approval of the results of the physical inventory as conducted by the Contractor. 4.6.3 The gain or loss resulting from the physical inventory shall be reflected in the stock records of Controllable Materials. The Contractor shall compile a reconciliation of the inventory with a reasonable explanation for such gains or losses. Failure on the part of GNPC to object to Contractor’s reconciliation within thirty (30) days of compilation of said reconciliation shall be regarded as approval by GNPC.
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CONTROLLABLE MATERIALS. The Licensee shall control the acquisition, location, storage and disposition of materials which are subject to accounting record control, physical inventory and adjustment for overages and shortages (hereinafter referred to as Controllable Material). Licensee shall conduct one physical inventory of the Controllable Material each Calendar Year which shall be completed prior to the end of the year. The gain or loss resulting from the physical inventory shall be reflected in the stock records of Controllable Materials. The Licensee shall compile a reconciliation of the inventory with a reasonable explanation for such gains or losses. Failure on the part of the Director General to object to Licensee’s reconciliation within thirty (30) days of compilation of said reconciliation shall be regarded as approval by the Director General.
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Related to CONTROLLABLE MATERIALS

  • Uncontrollable Events BISYS assumes no responsibility hereunder, and shall not be liable for any damage, loss of data, delay or any other loss whatsoever caused by events beyond its reasonable control.

  • No Additional Work or Material No claim for additional services, not specifically provided in this contract, performed or furnished by the contractor, will be allowed, nor may the contractor do any work or furnish any material not covered by the contract unless the work or material is ordered in writing by the Project Director and approved by the Agency Head.

  • Uncontrollable Forces 12.1 Section 14.1 of the CAISO Tariff shall be incorporated by reference into this Agreement except that all references in Section 14.1 of the CAISO Tariff to Market Participants shall be read as a reference to the Scheduling Coordinator and references to the CAISO Tariff shall be read as references to this Agreement.

  • Cost Overruns The Borrower shall ensure that all cost-overruns over the estimated construction costs of the Project as certified by a quantity surveyor or the Architect or as ascertained by the Lender as and when they occur shall be funded by the Borrower’s own equity;

  • Complete Work without Extra Cost Except to the extent otherwise specifically stated in this contract, the Contractor shall obtain and provide, without additional cost to the City, all labor, materials, equipment, transportation, facilities, services, permits, and licenses necessary to perform the Work.