Adjustment to Contract Sum Sample Clauses

The "Adjustment to Contract Sum" clause defines the process by which the total price of a contract may be increased or decreased in response to specific changes or unforeseen circumstances during the course of a project. This clause typically applies when there are modifications to the scope of work, such as design changes, additional requirements, or unexpected site conditions, and it outlines the procedures for requesting, reviewing, and approving such adjustments. Its core practical function is to ensure that both parties have a clear and fair mechanism for addressing changes in project costs, thereby reducing disputes and maintaining financial transparency throughout the contract.
Adjustment to Contract Sum. If the performance of all or any part of the Services is, for any unreasonable period of time, suspended or delayed by an act of GILBERT in the administration of this Agreement, or by its failure to act within the time specified in this Agreement (or if no time is specified, within a reasonable time), an adjustment shall be made for any increase in cost of performance of this Agreement necessarily caused by such unreasonable suspension or modified in writing accordingly. However, no adjustment shall be made under this clause for any suspension or delay to the extent (1) that performance was suspended or delayed for any other cause, including the fault or negligence of the A/E, or (2) for which a change order is executed.
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Adjustment to Contract Sum. Adjustments to the Contract Sum due to Changes in the Work shall be determined by application of one of the following methods, in the following order of priority:
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Adjustment to Contract Sum. If Owner suspends the Work pursuant to this Paragraph, for reason other than the wrongful act or omission of Construction Manager or any of its Subcontractors, Sub-subcontractors or suppliers, the GMP (or Separate GMP, if applicable) shall be increased by the actual and reasonable cost increase incurred by the Construction Manager because of the suspension, including but not limited to its actual, reasonable cost of demobilization and remobilization, provided that Construction Manager shall be required to mitigate costs of demobilization and remobilization and shall require the same of all of its Subcontractors and Suppliers at every tier. However, no such increase shall be made under this Paragraph for any suspension to the extent that the completion of the Work would have been concurrently suspended, delayed or interrupted by any other cause that is attributable to the act or omission of Construction Manager or its Subcontractors or Suppliers at any tier.
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Related to Adjustment to Contract Sum

  • Adjustment of Grievance The School Board and the employee will attempt to adjust all grievances which may arise during the course of employment of any employee within the School District in the following manner:

  • 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).

  • Adjustment of allowances For the life of this Agreement, the fares and travel allowance in clause 27.5 of the Agreement will be adjusted annually in accordance with CPI (All Groups, Melbourne) movements measured in the twelve month period ending the previous December quarter effective as of the 1 March from 2025 onwards, rounded to the nearest 5 cents. The allowances in clauses 27.8(b)(ii) and 27.12(b) will be adjusted annually in accordance with CPI (All Groups, Melbourne) measured in the twelve month period ending the previous December quarter effective as of 1 March 2025 onwards, rounded to the nearest cent.

  • Contract Term Adjustment “Contract Term Adjustment” means adjustment only as provided for in the three circumstances described in this Subsection. Under these circumstances, the contract term shall be adjusted in writing to include additional calendar days in one or more Normal Operating Seasons equal to the actual time lost, except as limited by paragraph (b) in this Subsection.

  • Payment and Year-End Adjustment Amounts accrued pursuant to this Agreement shall be payable to the Adviser as of the last day of each month. If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the actual Fund Operating Expenses of a Fund for the prior fiscal year (including any reimbursement payments hereunder with respect to such fiscal year) do not exceed the Maximum Annual Operating Expense Limit.