Modification of Prices Clause Samples

The "Modification of Prices" clause establishes the conditions and procedures under which the prices specified in a contract may be adjusted after the agreement has been executed. Typically, this clause outlines the circumstances that justify a price change, such as fluctuations in material costs, changes in scope of work, or regulatory adjustments, and details the process for requesting and approving such modifications. Its core practical function is to provide a clear and fair mechanism for both parties to address unforeseen changes in costs, thereby reducing disputes and ensuring the contract remains equitable throughout its duration.
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Modification of Prices. 3.2.1. The prices are fixed and invariable. Changes in prices may only be made if this is stipulated in the Contract or as required by applicable legislation. In the latter case, it is required that it be demonstrated: (i) that it is due to a change in the Legal System or a substantial change in the working conditions, which occurred after the Contract was signed, resulting in an unjust enrichment of one of the Parties, (ii) that the change produces excessive hardship in the agreed service and its fulfilment is ruinous; (iii) that this situation was not foreseeable at the time the Contract was signed, even for an experienced Supplier. Changes in tax or social security legislation shall not serve as justifications for the application of this clause and, consequently, price changes shall not be allowed. 3.2.2. The Party that considers itself to have been disadvantaged may make a request for the other Party to review the terms of the Contract within a term of fifteen (15) business days, for which purpose it must do so in writing, showing what is indicated in the foregoing paragraph. In the event that the other Party considers that the Price should not be readjusted, it shall communicate this fact and the Contract shall continue to be applied without attention to this requirement, but the Party that considers itself to be disadvantaged may initiate the process of settlement of discrepancies in accordance with the Contract.
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Modification of Prices. 7.2.1. Prices are fixed and invariable. Any price changes may be made only if provided for in the Contract or required by applicable law. In this last case, it must be demonstrated that: (i) it is due to a change in the Legal Order or a substantial change in the working conditions, that have occurred after the signature of the Contract, generating an unjust enrichment on one of the Parties, (ii) the change produces excessive heavy charges on the agreed service and its compliance is ruinous, (iii) this situation was not foreseeable at the moment of the signature of the Contract, even by an experienced SUPPLIER. Changes in the tax or social security legislation will not be justifications to apply this clause and, consequently, will not allow price modifications. written the conditions referred to in the preceding paragraph. In the event that the other Party considers that the Price must not be readjusted, it shall inform this situation and the Contract shall continue to apply without notice to this request, but the Party which deems itself to have been wronged may initiate the process for solving discrepancies according to the Contract.
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Modification of Prices. 7.2.1. Prices are fixed and invariable. Any price changes may be made only if provided for in the Contract or required by applicable law. In this last case, it must be demonstrated that: (i) it is due to a change in the Legal Order or a substantial change in the working conditions, that have occurred after the signature of the Contract, generating an unjust enrichment on one of the Parties, (ii) the change produces excessive heavy charges on the agreed service and its compliance is ruinous, (iii) this situation was not foreseeable at the moment of the signature of the Contract, even by an experienced Contractor. Changes in the tax or social security legislation will not be justifications to apply this clause and, consequently, will not allow price modifications. 7.2.2. The Party which deems itself to have been wronged may request the other Party, in a fifteen (15) working day period, a review of the terms of the Contract, for which it shall demonstrate in written the conditions referred to in the preceding paragraph. In the event that the other Party considers that the Price must not be readjusted, it shall inform this situation and the Contract shall continue to apply without notice to this request, but the Party which deems itself to have been wronged may initiate the process for solving discrepancies according to the Contract.
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Modification of Prices. According to the regulation contained in the General Section of these General Contracting Terms and Conditions.
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Modification of Prices. The prices are fixed and invariable. A price change may occur if provided in the Contract and/or required by the applicable law.
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Related to Modification of Prices

  • MODIFICATION OF NOTE 3.1 From and after the Effective Date, the provision in the Note captioned "Promise to Pay" is hereby amended as follows: The date on which the entire balance of unpaid principal plus accrued interest shall be due and payable immediately is hereby changed from March 31, 2010 to March 31, 2012. 3.2 Each of the Related Documents is modified to provide that it shall be a default or an event of default thereunder if the Borrower shall fail to comply with any of the covenants of the Borrower herein or if any representation or warranty by the Borrower herein or by any guarantor in any Related Documents is materially incomplete, incorrect, or misleading as of the date hereof. As used in this agreement, the "Related Documents" shall include the Note and all applications for letters of credit, loan agreements, credit agreements, reimbursement agreements, security agreements, mortgages, deeds of trust, pledge agreements, assignments, guaranties, or any other instrument or document executed in connection with the Note or in connection with any other obligations of the Borrower to the Bank. 3.3 Each reference in the Related Documents to any of the Related Documents shall be a reference to such document as modified by this agreement.

  • Amendments to Servicing Agreements, Modification of Standard Provisions (a) Subject to the prior written consent of the Trustee pursuant to Section 3.07(b), the Master Servicer from time to time may, to the extent permitted by the applicable Servicing Agreement, make such modifications and amendments to such Servicing Agreement as the Master Servicer deems necessary or appropriate to confirm or carry out more fully the intent and purpose of such Servicing Agreement and the duties, responsibilities and obligations to be performed by the Servicer thereunder. Such modifications may only be made if they are consistent with the REMIC Provisions, as evidenced by an Opinion of Counsel. Prior to the issuance of any modification or amendment, the Master Servicer shall deliver to the Trustee such Opinion of Counsel and an Officer's Certificate setting forth (i) the provision that is to be modified or amended, (ii) the modification or amendment that the Master Servicer desires to issue and (iii) the reason or reasons for such proposed amendment or modification. (b) The Trustee shall consent to any amendment or supplement to a Servicing Agreement proposed by the Master Servicer pursuant to Section 3.07(a), which consent and amendment shall not require the consent of any Certificateholder if it is (i) for the purpose of curing any mistake or ambiguity or to further effect or protect the rights of the Certificateholders or (ii) for any other purpose, provided such amendment or supplement for such other purpose cannot reasonably be expected to adversely affect Certificateholders. The lack of reasonable expectation of an adverse effect on Certificateholders may be established through the delivery to the Trustee of (i) an Opinion of Counsel to such effect or (ii) written notification from each Rating Agency to the effect that such amendment or supplement will not result in reduction of the current rating assigned by that Rating Agency to the Certificates. Notwithstanding the two immediately preceding sentences, the Trustee may, in its discretion, decline to enter into or consent to any such supplement or amendment if its own rights, duties or immunities shall be adversely affected. (i) Notwithstanding anything to the contrary in this Section 3.07, the Master Servicer from time to time may, without the consent of any Certificateholder or the Trustee, enter into an amendment (A) to an Other Servicing Agreement for the purpose of (i) eliminating or reducing Month End Interest and (ii) providing for the remittance of Full Unscheduled Principal Receipts by the applicable Servicer to the Master Servicer not later than the 24th day of each month (or if such day is not a Business Day, on the previous Business Day) or (B) to the WFHM Servicing Agreement for the purpose of changing the applicable Remittance Date to the 18th day of each month (or if such day is not a Business Day, on the previous Business Day). (ii) The Master Servicer may direct WFHM to enter into an amendment to the WFHM Servicing Agreement for the purposes described in Sections 3.07(c)(i)(B) and 10.01(b)(iii).

  • Incorporation of Prior Agreements; Modifications This Lease is the only agreement between the parties pertaining to the lease of the Property and no other agreements are effective. All amendments to this Lease shall be in writing and signed by all parties. Any other attempted amendment shall be void.

  • Modification of Agreement This Agreement may be modified, amended, suspended or terminated, and any terms or conditions may be waived, but only by a written instrument executed by the parties hereto.

  • Construction of Provisions Although certain provisions of this Agreement contain express language which precludes the Servicer's recovery of, or reimbursement for, expenses incurred hereunder, no inference to the contrary shall be drawn from absence of such, or similar, language in any other provision hereof regarding expenses.