Common use of Compensation Event Notice Clause in Contracts

Compensation Event Notice. 13.2.1.1 Except as otherwise expressly provided in this Agreement, if at any time DB Team determines that a Compensation Event has occurred or is imminent, DB Team shall submit a written Compensation Event Notice to GDOT. 13.2.1.2 The Compensation Event Notice shall identify the Compensation Event and its date of occurrence in reasonable detail, describe DB Team’s current estimate of the anticipated adverse and beneficial effects of the Compensation Event, and include written analysis and calculation of DB Team’s current estimate of the estimated increase or decrease in costs, to the extent applicable to the Compensation Event. 13.2.1.3 If, following issuance of any Compensation Event Notice, DB Team receives or becomes aware of any further information relating to the Compensation Event, it shall submit such further information to GDOT not later than seven (7) days of DB Team’s receipt or knowledge, as the case may be. GDOT may request from DB Team any further information that GDOT may reasonably require, and DB Team shall supply the same within a reasonable period after such request. 13.2.1.4 Time is of the essence in DB Team’s delivery of its written Compensation Event Notice. Accordingly, if for any reason DB Team fails to deliver such written Compensation Event Notice in strict accordance with this Article 13.2: (a) Within thirty (30) days following the date (herein the “starting date”) on which DB Team first became aware (or should have been aware, using all reasonable due diligence) of the occurrence of such Compensation Event, DB Team shall be deemed to have irrevocably and forever waived and released the portion of any Claim or right to compensation for costs attributable to such Compensation Event accruing after such thirty (30) day deadline and until the date DB Team submits the written Compensation Event Notice; and (b) Within one hundred eighty (180) days following the starting date, DB Team shall be deemed to have irrevocably and forever waived and released any and all Claim or right to compensation for any costs attributable to such Compensation Event.

Compensation Event Notice. 13.2.1.1 Except as otherwise expressly provided in this Agreement, if at any time DB Team determines that a Compensation Event has occurred or is imminent, DB Team shall submit a written Compensation Event Notice to GDOT. 13.2.1.2 The Compensation Event Notice shall identify the Compensation Event and its date of occurrence in reasonable detail, describe DB Team’s current estimate of the anticipated adverse and beneficial effects of the Compensation Event, and include written analysis and calculation of DB Team’s current estimate of the estimated increase or decrease in costs, to the extent applicable to the Compensation Event. 13.2.1.3 If, following issuance of any Compensation Event Notice, DB Team receives or becomes aware of any further information relating to the Compensation Event, it shall submit such further information to GDOT not later than seven (7) days of DB Team’s receipt or knowledge, as the case may be. GDOT may request from DB Team any further information that GDOT may reasonably require, and DB Team shall supply the same within a reasonable period after such request.further 13.2.1.4 Time is of the essence in DB Team’s delivery of its written Compensation Event Notice. Accordingly, if for any reason DB Team fails to deliver such written Compensation Event Notice in strict accordance with this Article 13.2: (a) Within thirty (30) days following the date (herein the “starting date”) on which DB Team first became aware (or should have been aware, using all reasonable due diligence) of the occurrence of such Compensation Event, DB Team shall be deemed to have irrevocably and forever waived and released the portion of any Claim or right to compensation for costs attributable to such Compensation Event accruing after such thirty (30) day deadline and until the date DB Team submits the written Compensation Event Notice; and (b) Within one hundred and eighty (180) days following the starting date, DB Team shall be deemed to have irrevocably and forever waived and released any and all Claim or right to compensation for any costs attributable to such Compensation Event.