Effect of Extension of Time Sample Clauses

The 'Effect of Extension of Time' clause defines the consequences and adjustments that occur when a project deadline is officially extended. Typically, this clause clarifies that if an extension is granted, the contractor is not liable for delays within the extended period, and any associated obligations, such as liquidated damages, are adjusted accordingly. Its core function is to ensure that both parties understand how time extensions impact contractual responsibilities, thereby preventing disputes over delays and protecting the contractor from penalties for approved extensions.
Effect of Extension of Time. If the payment of the Indebtedness, or any part thereof, is extended or varied, or if any part of any security for the payment of the Indebtedness is released, or if any person or entity liable for the payment of the Indebtedness is released, or if Mortgagee takes other or additional security for the payment of the Indebtedness, or if Mortgagee waives or fails to exercise any right granted herein, or in the Note secured hereby, or in any other instrument given to secure the payment hereof, then all persons now or at any time hereafter liable for the payment of the Indebtedness, or any part thereof, or interested in the Premises shall be held to assent to such extension, variation, release, waiver, failure to exercise or the taking of additional security, and their liability and the lien and interest and all provisions hereof shall continue in full force, the right of recourse against all such persons being expressly reserved by Mortgagee, notwithstanding such extension, variation, release, waiver, failure to exercise, or the taking of additional security.
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Effect of Extension of Time. If the payment of the Secured Obligations, or any part thereof, is extended or varied, or if any part of any security for the payment of the Secured Obligations is released, or if any Person liable for the payment of the Secured Obligations is released, or if the Mortgagee takes other or additional security for the payment of the Secured Obligations, or if the Mortgagee waives or fails to exercise any right granted herein, or in the Note, the Guaranty or in any other instrument given to secure the payment hereof (including, without limitation, any of the Loan Documents), then all Persons now or at any time hereafter liable for the payment of the Secured Obligations, or any part thereof, or interested in the Mortgaged Premises shall be held to assent to such extension, variation, release, waiver, failure to exercise or the taking of additional security, and their liability and the lien and all provisions hereof shall continue in full force, the right of recourse against all such Persons being expressly reserved by the Mortgagee, notwithstanding such extension, variation, release, waiver, failure to exercise, or the taking of additional security.
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Effect of Extension of Time. The granting of an Extension of Time for the completion of the Work on account of delays which in the judgment of the ENGINEER are unavoidable delays or granted for the execution of Extra or additional Work, shall in no way operate as a waiver on the part of the COUNTY of any of its rights under this Contract.
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Effect of Extension of Time. If the payment of the Guaranteed Obligations, or any part thereof, is extended or varied, or if any part of any security for the payment of the Guaranteed Obligations is released, or if any person or entity liable for the payment of the Guaranteed Obligations is released, or if Mortgagee takes other or additional security for the payment of the Guaranteed Obligations, or if Mortgagee waives or fails to exercise any right granted herein, or in the Guaranty secured hereby, or in any other instrument given to secure the payment and performance hereof, then all persons now or at any time hereafter liable for the payment of the Guaranteed Obligations, or any part thereof, or interest in the Premises shall be held to assent to such extension, variation, release, waiver, failure to exercise or the taking of additional security, and their liability and the lien and interest and all provisions hereof shall continue in full force, the right of recourse against all such persons being expressly reserved by Mortgagee, notwithstanding such extension, variation, release, waiver, failure to exercise, or the taking of additional security.
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Effect of Extension of Time. If the payment of the Indebtedness, or any part thereof, is extended or varied, or if any part of any security for the payment of the Indebtedness is released, or if any person or entity liable for the payment of the Indebtedness is released, or if Mortgagee takes other or additional security for the payment of the Indebtedness, or if Mortgagee waives or fails to exercise any right granted herein, or in the Note secured hereby, or in any other instrument given to secure the payment hereof, then all persons then liable for the payment of the Indebtedness, or any part thereof, or interest in the Premises shall be held to assent to such extension, variation, release, waiver, failure to exercise or the taking of additional security, and their liability and the lien and interest and all provisions hereof shall continue in full force, the right of recourse against all such persons being expressly reserved by Mortgagee, notwithstanding such extension, variation, release, waiver, failure to exercise, or the taking of additional security.
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Effect of Extension of Time. The granting of an extension of time for the completion of the work on account of delays which in the judgment of SETA are unavoidable delays, or granted for the execution of extra additional work, shall in no way operate as a waiver on the part of SETA of any of its other rights under this Agreement.
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Effect of Extension of Time. The granting of any extension of time due to delays which in the judgment of the District are unavoidable delays, shall in no way operate as a waiver on the part of the District of its rights under this contract.
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Related to Effect of Extension of Time

  • Extension of Time If the Executive shall be in violation of any provision of this Article 6, then each time limitation set forth in this Article 6 shall be extended for a period of time equal to the period of time during which such violation or violations occur. If the Company seeks injunctive relief from such violation in any court, then the covenants set forth in this Article 6 shall be extended for a period of time equal to the pendency of such proceeding including all appeals by the Executive.

  • Delays and Extension of Time If the Contractor is delayed at any time in the progress of providing goods and/or services by an act or neglect of the District, or by changes ordered in the work, or by labor disputes, strikes, insurrections, fire, acts of God; unusual but well documented and excusable delays in performance, or other causes beyond the Contractor’s control, or by delay authorized by the District, then the contract Term of service may be extended by a contract amendment for such reasonable time as the District and the Contractor may agree.

  • Extension of Time; Waiver At any time prior to the Effective Time, the parties may, by action taken or authorized by their respective Boards of Directors, to the extent permitted by applicable Law, (a) extend the time for the performance of any of the obligations or acts of the other parties, (b) waive any inaccuracies in the representations and warranties of the other parties set forth in this Agreement or any document delivered pursuant hereto or (c) subject to applicable Law, waive compliance with any of the agreements or conditions of the other parties contained herein; provided, however, that after the Company Stockholder Approval has been obtained, no waiver may be made that pursuant to applicable Law requires further approval or adoption by the Stockholders without such further approval or adoption. Any agreement on the part of a party to any such waiver shall be valid only if set forth in a written instrument executed and delivered by a duly authorized officer on behalf of such party. No failure or delay of any party in exercising any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such right or power, or any course of conduct, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the parties hereunder are cumulative and are not exclusive of any rights or remedies which they would otherwise have hereunder.

  • Extension of Time, Waiver, Etc At any time prior to the Effective Time, any party may, subject to applicable Law, (a) waive any inaccuracies in the representations and warranties of any other party hereto, (b) extend the time for the performance of any of the obligations or acts of any other party hereto or (c) waive compliance by the other party with any of the agreements contained herein or, except as otherwise provided herein, waive any of such party’s conditions. Notwithstanding the foregoing, no failure or delay by the Company, Parent or Merger Sub in exercising any right hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right hereunder. Any agreement on the part of a party hereto to any such extension or waiver shall be valid only if set forth in an instrument in writing signed on behalf of such party.

  • Extension of Time Limits The time limits referred to in this Article may be extended by mutual agreement of the parties in writing.