Adjustment of Contract Sum Clause Samples

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Adjustment of Contract Sum. 8.4.1 For the purpose of any adjustment of the Contract Sum for a Variation: 8.4.1.1 if practicable, the value of a Variation must be agreed by the Contractor and the Council before the Contractor commences to execute the Variation;
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Adjustment of Contract Sum. No adjustment unless authorised If the Contract Sum is a fixed lump sum, it is not subject to rise and fall, and includes allowance for all works incidentally or contingently necessary to execute and complete the Contract Works and for all the Contractor’s risks and responsibilities. Without limiting this, it includes allowance for all the Contractor’s costs of and incidental to any special payment or allowance made to or for the benefit of workers engaged upon execution of the Contract Works including any project or site allowance, any disability allowance, any redundancy payment or redundancy pay scheme, or any payment or contribution or allowance for or on account of superannuation or long service leave. The Contract Sum will not be adjusted or varied except in accordance with provisions of this agreement providing expressly for an adjustment of the Contract Sum.
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Adjustment of Contract Sum. In the event that the final System Design, as approved by Client, results in a smaller System size than the initial System Design size, then Contract Sum shall be proportionally reduced by $[ ]6 per Watt. In the event that the final System Design, as approved by Client, is not expected to meet the System Expected Production, then Contract Sum shall be reduced by any amount necessary to ensure Client’s Expected Economic Benefit. Any adjustment of the Contract Sum pursuant to this Section shall be performed by Client, with supporting calculations and any applicable documentation to be shared with EPC Contractor, and upon notice to EPC Contractor the adjusted Contract Sum and any necessary updates, within Client’s reasonable discretion, to the Payment Schedule and Schedule #7 (“Schedule of Values”) shall be incorporated into this Agreement and supersede and replace the Contract Sum and any previous versions of the Payment Schedule and Schedule of Values.
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Adjustment of Contract Sum. The Contract Sum stated above shall be increased or decreased for Changes in the Work as provided in Article 7.
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Adjustment of Contract Sum. 8.4.1 For the purpose of any adjustment of the Contract Sum for a Variation: 8.4.1.1 if practicable, the value of a Variation must be agreed by the Contractor and the Council before the Contractor commences to execute the Variation; 8.4.1.2 if the value of a Variation is not agreed by the Contractor and the Council, the value must be determined by the Council in accordance with the rates and the criteria set out in Item 12 of the Schedule; 8.4.1.3 a Variation must be valued as soon as practicable, and the Contractor must promptly and diligently supply to the Council all information relevant to the valuation.
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Adjustment of Contract Sum. 17.1 No adjustment unless authorised
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Adjustment of Contract Sum. The amount to be added to or deducted from the Contract Sum in respect of expenses or loss due to fees and charges in relation to the supply of water and electricity and permanent connections to water, electricity, telephone and sewerage mains under clause 6.2, variations under clause 24, rectification of errors in Bill of Quantities under clause 26.3, fluctuation of price under clause 30, payment of P.C. Sums and Provisional Sums under clause 34, opening up work for inspection and testing of materials or goods and executed work under clause 35.2, loss and expense under clause 44 and costs of disposal of fossils, etc. under clause 65 hereof, shall be certified by the S.O.
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Adjustment of Contract Sum. 17.1 No adjustment unless authorised
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Related to Adjustment of Contract Sum

  • Contract Adjustment Payments Subject to Section 5.3 herein, the Company shall pay, on each Payment Date, the Contract Adjustment Payments payable in respect of each Purchase Contract to the Person in whose name a Certificate (or one or more Predecessor Certificates) is registered at the close of business on the Record Date next preceding such Payment Date. The Contract Adjustment Payments will be payable at the office of the Agent in The City of New York maintained for that purpose or, at the option of the Company, by check mailed to the address of the Person entitled thereto at such Person's address as it appears on the Income PRIDES Register or Growth PRIDES Register. Upon the occurrence of a Termination Event, the Company's obligation to pay Contract Adjustment Payments (including any accrued or Deferred Contract Adjustment Payments) shall cease. Each Certificate delivered under this Agreement upon registration of transfer of or in exchange for or in lieu of (including as a result of a Collateral Substitution or the re-establishment of an Income PRIDES) any other Certificate shall carry the rights to Contract Adjustment Payments accrued and unpaid, and to accrue Contract Adjustment Payments, which were carried by the Purchase Contracts underlying such other Certificates. Subject to Section 5.9, in the case of any Security with respect to which Early Settlement of the underlying Purchase Contract is effected on an Early Settlement Date that is after any Record Date and on or prior to the next succeeding Payment Date, Contract Adjustment Payments, if any, otherwise payable on such Payment Date shall be payable on such Payment Date notwithstanding such Early Settlement, and such Contract Adjustment Payments shall be paid to the Person in whose name the Certificate evidencing such Security (or one or more Predecessor Certificates) is registered at the close of business on such Record Date. Except as otherwise expressly provided in the immediately preceding sentence, in the case of any Security with respect to which Early Settlement of the underlying Purchase Contract is effected on an Early Settlement Date, Contract Adjustment Payments that would otherwise be payable after the Early Settlement Date with respect to such Purchase Contract shall not be payable. The Company's obligations with respect to Contract Adjustment Payments, will be subordinated and junior in right of payment to the Company's obligations under any Senior Indebtedness.

  • Performance Adjustment One-twelfth of the annual Performance Adjustment Rate will be applied to the average of the net assets of the Portfolio (computed in the manner set forth in the Fund's Declaration of Trust or other organizational document) determined as of the close of business on each business day throughout the month and the performance period.

  • C1 Contract Price In consideration of the Contractor’s performance of its obligations under the Contract, the Authority shall pay the Contract Price in accordance with clause C2 (Payment and VAT).

  • Price Adjustments for OGS Centralized Contracts Periodic price adjustments will occur no more than twice per year on a schedule to be established solely by OGS. Pricing offered shall be fixed for the first twelve (12) months of the Contract term. Such price increases will only apply to the OGS Centralized Contracts and shall not be applied retroactively to Authorized User Agreements or any Mini-bids already submitted to an Authorized User. Price decreases may be made at any time. Additionally, some price decreases shall be calculated in accordance with Appendix B, section 17, Pricing.

  • Adjustments to Purchase Price (a) For purposes of determining the amounts of the adjustments to the Purchase Price provided for in this Section 2.4, the principles set forth in this Section 2.4(a) shall apply. Buyer shall be entitled to all production of Hydrocarbons from or attributable to the Units, Leases, and ▇▇▇▇▇ at and after the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts and credits earned with respect to the Assets at or after the Effective Time, and shall be responsible for (and entitled to any refunds with respect to) all Operating Expenses incurred at and after the Effective Time. SM Energy shall be entitled to all Hydrocarbon production from or attributable to Units, Leases and ▇▇▇▇▇ prior to the Effective Time (and all products and proceeds attributable thereto), and to all other income, proceeds, receipts and credits earned with respect to the Assets prior to the Effective Time, and shall be responsible for (and entitled to any refunds with respect to) all Operating Expenses incurred prior to the Effective Time. “Earned” and “incurred”, as used in the Agreement shall be interpreted in accordance with GAAP and Council of Petroleum Accountants Society standards, except as otherwise specified herein. For purposes of allocating production (and proceeds and accounts receivable with respect thereto), under this Section 2.4, (i) liquid Hydrocarbons shall be deemed to be “from or attributable to” the Units, Leases and ▇▇▇▇▇ when they pass through the pipeline connecting into the storage facilities into which they are run and (ii) gaseous Hydrocarbons shall be deemed to be “from or attributable to” the Units, Leases and ▇▇▇▇▇ when they pass through the royalty measurement meters, delivery point sales meters or custody transfer meters on the gathering lines or pipelines through which they are transported (whichever meter is closest to the well). SM Energy shall utilize reasonable interpolative procedures, consistent with industry practice, to arrive at an allocation of production when exact meter readings or gauging and strapping data are not available. As part of the Preliminary Settlement Statement, Buyer shall provide to SM Energy such data as is reasonably necessary to support any estimated allocation, for purposes of establishing the Closing Amount.