Common use of Agreement on Change Order Clause in Contracts

Agreement on Change Order. The Contractor Project Manager and the Exchange Project Director shall negotiate in good faith and in a timely manner as to the price for amounts over the Maximum Amount specified in Exhibit A and the time to perform any Change Order. If the parties reach an agreement on a Change Order in writing, and the Change Order is executed by authorized representatives of the parties, the terms of this Agreement shall be modified accordingly. The parties will execute a formal Agreement amendment for any Change Order that increases or decreases the Maximum Amount. All Change Orders must be executed by the Exchange Project Director. In no event shall the Charges be increased nor shall time be extended in a Change Order to correct Deficiencies caused by Contractor.

Agreement on Change Order. The Contractor Project Manager and the Exchange Project Director shall negotiate in good faith and in a timely manner as to the price for amounts over the Maximum Amount specified in Exhibit A and the time to perform any Change Order. If the parties reach an agreement on a Change Order in writing, and the Change Order is executed by authorized representatives of the parties, the terms of this Agreement shall be modified accordingly. The parties will execute a formal Agreement amendment for any Change Order that increases or decreases the Maximum Amount. All Change Orders must be executed by the Exchange Project Director. In no event shall the Charges be increased nor shall time be extended in a Change Order to correct Systems Deficiencies caused by Contractor.