Adjustment and Compensation for Suspension Clause Samples

The "Adjustment and Compensation for Suspension" clause defines the process by which a party is compensated or contract terms are adjusted if work is suspended under the contract. Typically, this clause outlines the circumstances under which a suspension may occur, the method for calculating additional costs or time extensions, and the procedure for submitting claims related to the suspension. Its core function is to ensure that parties are treated fairly and are not unduly penalized or disadvantaged financially or in terms of project timelines due to a suspension that is outside their control.
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Adjustment and Compensation for Suspension. In the event of a suspension of the Work pursuant to this Section 16.4, General Contractor shall be entitled to a Change Order for reimbursement, on a monthly basis in accordance with the invoicing and payment provisions set forth in Section 7.2, for all actual direct out-of-pocket costs plus Contractor’s personnel costs at Contractor’s rates in effect at the time (verified to Owner’s reasonable satisfaction) which are reasonably incurred by Contractor as a result of such suspension and any increase in cost or delays resulting from such suspension times 1.1 to cover overhead and administrative costs.
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Adjustment and Compensation for Suspension. In the event of a suspension of the Work pursuant to this Section 16.4, Contractor shall be entitled to a Change Order GEC/ICC/EPC 61 Confidential Business Information for reimbursement, on a monthly basis in accordance with the invoicing and payment provisions set forth in Section 7.2, for all actual direct out-of-pocket costs plus Contractor’s personnel costs at Contractor’s rates in effect at the time (verified to GEC’s reasonable satisfaction) which are reasonably incurred by Contractor as a result of such suspension and any increase in cost or delays resulting from such suspension times 1.1 to cover overhead and administrative costs.
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Adjustment and Compensation for Suspension. In the event of a suspension of the Work under this Section 16.4, Contractor shall be entitled to a Change Order for reimbursement, on a monthly basis, in accordance with the invoicing and payment provisions set forth in Section 7.2, for all actual, direct, out-of-pocket costs plus Contractor's personnel costs (verified to Owner's reasonable satisfaction) which are reasonably incurred by Contractor as a result of such suspension and any increase in cost or delays resulting from such suspension, plus a ▇▇▇▇-up thereon for Contractor's overhead and profit not to exceed fifteen percent (15%). In the event of a suspension under Section 16.4., Contractor shall be entitled to a Change Order which, in addition to providing for reimbursement for costs incurred, also provides for a reasonable extension to the Project Schedule in respect of any delay suffered by reason of the suspension.
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Related to Adjustment and Compensation for Suspension

  • Compensation for Overtime Assigned overtime is designated as those hours over the regular hours of work which are requested of the employee by management. Assigned overtime worked shall be paid at the rate of time and one-half (1 1/2).

  • Additional Compensation Notwithstanding anything in this Memorandum of Understanding to the contrary when in the judgment of the Board, it becomes necessary or desirable to utilize the services of County employees in capacities other than those for which they are regularly employed, the Board may authorize and, if appropriate, fix an additional rate of compensation for such employees.

  • Compensation for Losses Upon demand of any Lender (with a copy to the Administrative Agent) from time to time, the Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: (a) any continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); (b) any failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert any Loan other than a Base Rate Loan on the date or in the amount notified by the Borrower; or (c) any assignment of a Eurodollar Rate Loan on a day other than the last day of the Interest Period therefor as a result of a request by the Borrower pursuant to Section 10.13; including any loss of anticipated profits and any loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained. The Borrower shall also pay any customary administrative fees charged by such Lender in connection with the foregoing. For purposes of calculating amounts payable by the Borrower to the Lenders under this Section 3.05, each Lender shall be deemed to have funded each Eurodollar Rate Loan made by it at the Eurodollar Rate for such Loan by a matching deposit or other borrowing in the London interbank eurodollar market for a comparable amount and for a comparable period, whether or not such Eurodollar Rate Loan was in fact so funded.

  • No Additional Compensation Notwithstanding any other provision of this Agreement, the obligation of Agency to return Referred Accounts, provide current status reports of all such accounts or information reasonably required by Client shall be without right to any additional Contingent Fee, administrative fees or other compensation of any kind or type whatsoever after such termination date, including, without limitation, in quantum meruit, for any Services rendered prior to termination (except on recoveries received and remitted to Client pursuant to this Agreement prior to termination) whether or not said Services result in or contribute to recoveries received after termination.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.