How is Lack of Work defined in a legal contract?
- Lack of Work means a condition where the workload decreases that requires a deduction of current or projected staffing levels. Seen in 3 SEC Filings
- Lack of Work means that there is a decrease in workload or work requirements which necessitates a reduction in current or projected staffing levels. Seen in 3 SEC Filings
- Lack of Work means there is a temporary decrease in workload that leads to a need for a reduction in current or projected staffing levels. Seen in 2 SEC Filings
- Lack of Work means a decrease in workload or work requirement which requires a reduction of staffing levels. The lack of work is deemed temporary if the decrease in workload or work requirements is expected to last less than a [number]. Seen in 1 SEC Filing
- Lack of Work means a decrease in workload that requires a reduction in current or projected staffing levels. Seen in 1 SEC Filing
Note: Definition which includes organisational-specific mentions, and those involving specific time frames have been omitted to maintain consistency and global relevance.
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for 'Definitions of lack of work' yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Lack of Work means a decrease in workload causing a required reduction in current or projected staffing levels.
Relevant Contract Type
Relevant Circumstances
- Business downsizing or restructuring
- Seasonal fluctuations in work volume
- Unexpected decrease in project or workload
Relevant Sectors
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Lack of Work means a decrease in workload causing a required reduction in current or projected staffing levels
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