Common use of Modifications to the Standard Conditions Clause in Contracts

Modifications to the Standard Conditions. The Standard Conditions are modified as follows: 1. The provisions of Section 2.11 of the Standard Conditions are hereby modified to read as follows: “the payment is for the reasonable cost of Insurance Payouts and Participation Fees, as defined in the Grant Agreement, or services required for the Project, to be financed out of the proceeds of the Grant and procured, all in accordance with the provisions of the Grant Agreement.” 2. The provisions of Section 4.02 (d) are deleted in their entirety. 3. The reference to “Member Country” in the Standard Conditions means the United Kingdom.