Common use of Limitations on Total Contract Amount on Effective Date Clause in Contracts

Limitations on Total Contract Amount on Effective Date. 7.3.1. The Total Contract Amount as of the Effective Date includes the cost for Design Work and Construction Work payable by Judicial Council, provided the conditions precedent in the Contract Documents are satisfied. 7.3.2. The Total Contract Amount, also referred to herein as the “Stipulated Sum” may only be adjusted upon mutual agreement of the Parties, consistent with the Contract Documents. 7.3.3. Design Build Entity further warrants and represents that it fully understands that Judicial Council may terminate the Work at any time. In any such event, Judicial Council may obtain the Work from another entity in Judicial Council’s discretion.