Increase in Cost Clause Samples
The Increase in Cost clause allows a party to adjust the contract price if their costs rise due to specific circumstances, such as changes in law, taxes, or material prices. Typically, this clause outlines the process for notifying the other party of increased costs and may require supporting documentation or agreement on the adjustment amount. Its core function is to allocate the risk of unforeseen cost increases, ensuring that the party performing the contract is not unfairly burdened by expenses beyond their control.
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Increase in Cost. If, due to either (i) the introduction of or any change (other than any change by way of imposition or increase of reserve requirements, in the case of Eurodollar Rate Advances, included in the Eurodollar Rate Reserve Percentage) in or in the interpretation of any law or regulation or (ii) the compliance with any guideline or request from any central bank or other Governmental Authority (whether or not having the force of law), there shall be any increase in the cost to any Lender or any participant under Section 8.07(e) of agreeing to make or making, funding or maintaining Eurodollar Rate Advances, then the Borrower shall from time to time pay to the Agent for the account of such Lender or participant additional amounts sufficient to compensate such Lender or participant for such increased cost. Such costs shall be payable only if demanded within six months after they were incurred and shall be due 30 days after demand. Demand shall be made by delivery to the Borrower and the Agent of a certificate of the Lender or participant making the demand, setting forth in reasonable detail the calculation of the costs for which demand is made. Such certificate shall, in the absence of manifest error, be conclusive and binding on the Borrower.
Increase in Cost. If the result of any change in or introduction of or in the interpretation of any Law or any regulation or practice, including without limitation those relating to taxation, capital adequacy, liquidity, prudential limits, reserve assets, cash ratio deposits and special deposits has the effect of increasing the cost or expenses on the Lender in making available all or part of the Facility under this Agreement, the Borrower(s) shall on demand by the Lender, pay such additional cost or Expenses so incurred within 15 (Fifteen) Business Days of the date of such demand.
Increase in Cost. In the event unforeseen conditions require an increase in the cost of the Work for which the Utility is responsible, above the Exhibit B, Cost Estimate (including sales tax, engineering, and contingencies) by more than ( ) percent, the Parties agree to modify Exhibit B to include such cost increase.
Increase in Cost. The Parties agree that the estimated cost of the work may be exceeded by up to 25%. In the event of such increased costs the Parties agree to modify the estimated cost of work by written amendment, signed by both Parties. WSDOT shall notify the Agency of increased costs as they become known.
Increase in Cost. 3.1 The Parties agree that the actual expense incurred by WSDOT for the lease application review may exceed the above noted Estimated Review Amount by up to twenty–five (25) percent. In the event expenses exceed the Estimated Review Amount by more than twenty-five (25) percent, WSDOT shall notify the SERVICE PROVIDER of increased expenses as they become known.
Increase in Cost. 1.1 If as a result of Change in Law, the Concessionaire is obliged to incur additional capital expenditure and/or the additional operating costs or both, as the case may be, for operation, management and/ or implementation of the Project in excess of Rs. [insert amount] (Rupees [insert amount]) the Concessionaire may so notify the Concessioning Authority and upon notice by the Concessionaire, the Parties shall meet, as soon as reasonably practicable but no later than 15 (fifteen) days from the date of notice and mutually agree on an arrangement that would restore the Concessionaire to the same economic position as if such Change in Law has not occurred. In case the Parties do not mutually agree on an arrangement, a committee of 3 (three) members will be found (1 (one) member from the Concessioning Authority, 1 (one) member from Concessionaire, and 1 (one) member to be mutually agreed by the Parties) and the decision of this committee on this matter shall be final and binding on both the Parties.
Increase in Cost. In the event unforeseen conditions require an increase in cost for WSDOT’s construction administration and Services by more than twenty-five (25) percent above the cost estimate in Exhibit A, the Parties must negotiate and execute a written amendment to this Agreement addressing said increase prior to WSDOT performing any construction administration or Services in excess of said amount.
Increase in Cost. If, due to either (i) the introduction of, any change in or in the interpretation of, any law or regulation after the Closing Date, or (ii) the compliance with any guideline or request from any central bank or other Governmental Authority (whether or not having the force of law) made after the Closing Date, there shall be any increase in the cost to the Lenders of agreeing to make or making, funding or maintaining Eurodollar Rate Advances, then Borrower shall from time to time pay to the Agent (for the ratable benefit of the Lenders) additional amounts sufficient to compensate the Lenders for such increased cost. Such costs shall be payable only if demanded within six (6) months after they were incurred and shall be due within thirty (30) days after demand. Demand shall be made by delivery to Borrower of a certificate of the Agent, setting forth in reasonable detail the calculation of the costs for which demand is made. Such certificate shall, in the absence of manifest error, be conclusive and binding on Borrower.
Increase in Cost. In the event of any change in Applicable Laws, decision, rule or order that increases the costs or other terms of delivery of the Services, the Provider and the Customer will mutually agree upon the rates to be charged to the Customer to reflect such increase in cost and, in the event that the Parties are unable to reach agreement respecting new rates within thirty (30) calendar days after the Provider's delivery of written notice regarding the increases in costs or other terms of delivery of the Services, then:
(a) the Provider may pass such increased costs through to the Customer; and
(b) if the Provider elects to pass such increased costs through to the Customer, the Customer may terminate the Services without further liability, except for liabilities incurred prior to termination, by delivering a written notice of termination no later than thirty (30) days after the effective date of the rate increase.
Increase in Cost. Tenant shall not conduct or permit to be conducted any activity (other than the Permitted Use), or place or permit to be placed any equipment or other item in or about the Premises or the Building, which will in any way increase the rate of property insurance or other insurance on the Building. If any increase in the rate of property or other insurance is due to any activity, equipment or other item of Tenant, then (whether or not Landlord has consented to such activity, equipment or other item) Tenant shall pay as additional rent the amount of such increase. Landlord shall exclude from Operating Charges any such increase attributable to any other tenants of the Building. The statement of any applicable insurance company or insurance rating organization (or other organization exercising similar functions in connection with the prevention of fire or the correction of hazardous conditions) that an increase is due to any such activity, equipment or other item of Tenant or another Building tenant shall be conclusive evidence thereof.