Common use of Lump Sum Price Clause in Contracts

Lump Sum Price. As consideration in full for the Works to be executed and all obligations of Contractor under this Agreement Company shall pay to Contractor a fixed lump sum (Pauschalfestpreis) of Euro 380,500,000.00 plus VAT as applicable from time to time. The lump sum price shall be fixed up to and including final acceptance of the entirety of Works (Der Pauschalfestpreis gilt bis einschließlich der Schlußabnahme der Gesamtleistung). The parties acknowledge and confirm that the payments to be rendered under the letter of intent of May 16, 2003 as amended under the letters of August 13, 2003 and November 3, 2003 shall form part of the aforementioned lump sum and no additional remuneration shall be paid for these works and services which shall form part of the Works.