Milestone Date Extensions Sample Clauses

The Milestone Date Extensions clause allows for the adjustment of previously agreed-upon deadlines for specific project milestones. In practice, this clause outlines the conditions under which a party may request additional time, such as unforeseen delays or changes in project scope, and typically requires formal notification and approval. Its core function is to provide flexibility in project timelines, helping to manage risks associated with delays and ensuring that both parties have a clear process for handling schedule changes.
Milestone Date Extensions. In the event that Seller’s achievement of any Milestone by the applicable Milestone Date or of the Commercial Operation Date by the Guaranteed Commercial Operation Date is prevented due to a Delay Condition, the applicable Milestone Date or the Guaranteed Commercial Operation Date, as applicable, will be extended on a day-for-day basis by the number of days by which the occurrence or continuance of the Delay Condition prevented Seller from achieving, as applicable, the affected Milestone or the Commercial Operation Date. For purposes of this Agreement, “Delay Condition” means (i) the occurrence of a Force Majeure Event, or (ii) Buyer’s breach of its obligations under this Agreement. In no event will any Milestone Date or the Guaranteed Commercial Operation Date be extended, in the aggregate, by more than 120 days pursuant to this Section 7.2(d).
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Related to Milestone Date Extensions

  • Due Date Extension If any payment of principal or Yield with respect to any Advance falls due on a day which is not a Business Day, then such due date shall be extended to the next following Business Day, and additional Yield shall accrue and be payable for the period of such extension at the rate applicable to such Advance.

  • Time Extensions 2.03.1 If Contractor requests an extension of time to complete its performance, then the Director, in consultation with the CPO, may, in his or her sole discretion, extend the time so long as the extension does not exceed 90 days. The extension must be in writing but does not require amendment of this Agreement. Contractor is not entitled to damages for delay(s) regardless of the cause of the delay(s).

  • Time Extension CONTRACTOR shall provide a time extension request on completion of Task Order for delays caused by others (Permitting Agencies, COUNTY or Contract Cities, or unforeseen conditions such as inclement weather, etc.) and at no fault by CONTRACTOR, subject to approval by COUNTY. COUNTY will review the request and determine in its sole discretion whether the situation warrant a time extension at no-cost or with costs. If CONTRACTOR completes the Task Order beyond the stipulated completion date without COUNTY’s specific written approval for time extension, CONTRACTOR will be subject to liquidated damages and may be construed as non-responsive, which may affect CONTRACTOR for considerations for future Task Orders or projects.

  • Effective Date; Term This Agreement shall become effective on the date of its execution and shall remain in force for a period of two (2) years from such date, and from year to year thereafter but only so long as such continuance is specifically approved at least annually by the vote of a majority of the Trustees who are not interested persons of the Trust or the Adviser, cast in person at a meeting called for the purpose of voting on such approval, and by a vote of the Board of Trustees or of a majority of the outstanding voting securities of the Fund. The aforesaid requirement that this Agreement may be continued "annually" shall be construed in a manner consistent with the Act and the rules and regulations thereunder.

  • Listing Period Extension The Commission shall be due if the Property is sold, conveyed, exchanged, optioned, or otherwise transferred within _ _ days (“Extension Period”) after the expiration of the Listing Period to anyone with whom the Broker or Agency has negotiated unless the Property is listed, in good faith, with another real estate agency. The term “negotiation” shall include providing information about the Property, showing the Property, or presenting an offer on the Property. All rights under this Section shall terminate upon the expiration of the Extension Period.