The "Time of Performance" clause specifies the deadline or schedule by which contracted responsibilities or tasks must be completed. It ensures that all parties involved are aware of the time frame for delivery and performance, thereby minimizing potential delays and disputes.
2. Time of performance 2.1. Subject to the terms and conditions of the Quotations, Subcontractor will perform the work within the agreed schedule. 2.2. If Subcontractor fails to perform any phase of its work in accordance with the agreed schedule, sequence or completion requirements, subcontractor shall, at its expense, upon notice from Contractor, schedule such overtime work and make such increases in its working forces as Contractor may require in order for Subcontractor to promptly cure its failure to comply with the overall schedule. If the progress of work or any component thereof is delayed, obstructed, hindered or interfered with by any fault, neglect, or failure to its or any of its officers, agents, employees, sub-subcontractors or material suppliers so as to cause any additional cost, expense, liability or damage to contractor, Subcontractor agrees to compensate Contractor and indemnify against all such costs, expenses, liabilities or damages, including administrative costs and legal fees.
Time of Performance and Increased Costs. ACL Group, Inc.’s time of performance under this Agreement shall be adjusted, if and to the extent reasonably necessary, in the event and to the extent that (i) Customer fails to timely submit material data or materials in the prescribed form or in accordance with the requirements of this Agreement, (ii) Customer fails to perform on a timely basis, the material functions or other responsibilities of Customer described in this Agreement, (iii) Customer or any governmental agency authorized to regulate or supervise Customer makes any special request, which is affirmed by Customer and/or compulsory on ACL Group, Inc., which affects ACL Group, Inc.’s normal performance schedule, or (iv) Customer has modified the Service in a manner affecting ACL Group, Inc.’s burden. In addition, if any of the above events occur, and such event results in an increased cost to ACL Group, Inc., ACL Group, Inc. shall estimate such increased costs in writing in advance and, upon Customer’s approval, Customer shall be required to pay any and all such reasonable, increased costs to ACL Group, Inc. upon documented expenditure, up to 110% of the estimate.
No extension of time of performance of an act or obligation under this Agreement shall constitute an extension of time of performance of any other act or obligation.
The time of performance by Purchaser of the terms of this Contract is an essential part of this Contract.
If any agreement between Landlord and Tenant shall extend the time of performance or modify any of the Covenants, Guarantor shall continue to be liable upon this Guaranty according to the tenor of the Lease without regard to such agreement except to the extent Guarantor shall consent in writing to such agreement.
(i) Time of Essence. Time is of the essence of this Guaranty and each provision hereof in which time of performance is established and whenever action must be taken (including the giving of notice or the delivery of documents) hereunder during a certain period of time or by a particular date that ends or occurs on a day that is not a Business Day, then such period or date shall be extended until the immediately following Business Day.
6. Time of Performance. Consultants daily schedule and hours worked under this Agreement shall generally be subject to the Consultant’s discretion. This Agreement is not intended to restrict or limit the right of the Consultant to perform services/work for or on behalf of individuals or entities other than ChromaDex and that Consultant is free to do so. However, Consultant agrees to devote sufficient time as necessary to fulfill the purposes of this Agreement within the term of this Agreement.
The Company shall not dictate the time of performance to the Consultant, except as necessary to fulfill time-sensitive duties included in Schedule A (“Description of Services”).
Time of performance refers to the period or moments within which contractual obligations must be fulfilled by the parties involved. It is an essential aspect of a contract, specifying when the deliverables or services agreed upon must be completed. This schedule can vary widely depending on the nature of the contract and the specific terms agreed by the parties.
Time of performance should be used whenever establishing a contract where the timing of obligations is crucial to the agreement’s execution and success. It is particularly important in scenarios where:
To write a clear and effective time of performance clause, ensure that you:
Be Specific: Explicitly state the dates or time frames within which performance should occur.
Define Terms: Clarify terms like “business days,” “weeks,” or “months” to avoid ambiguity.
Contingencies: Include provisions for unforeseen delays or extensions, often referred to as “force majeure” clauses.
Consequence: Specify consequences for failure to meet the performance time, such as penalties or contract termination.
Example:
“The contractor shall complete the work by December 31, 2023. Any delays due to unforeseen circumstances beyond the contractor’s control, as acknowledged by the client, will result in an automatic extension of the deadline.”
Time of performance is typically found in contracts where the timing of duties is critical. Common examples include:
These contracts benefit from clearly defined time of performance clauses to ensure accountability and smooth fulfillment of obligations.
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The "Transfer of Ownership" clause outlines the conditions under which ownership rights and titles of a property or asset are conveyed from one party to another. It typically details the specific events or criteria that trigger the transfer, any obligations the parties must fulfill, and the effective date when the transfer becomes legally binding.
The "Transfer" clause in a contract outlines the conditions under which rights or obligations can be transferred from one party to another. It typically specifies whether consent is required for such a transfer and any limitations on the ability to assign responsibilities or benefits.
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