Payment and Values Schedule definition
Examples of Payment and Values Schedule in a sentence
Representatives of Concessionaire and Contractor shall determine the Contract Sum amount referred to in clause (i) above in accordance with the Payment and Values Schedule, and Contractor shall document in detail the costs claimed under clause (ii) above to Concessionaire’s reasonable satisfaction and shall supply Concessionaire with copies of the Subcontractor invoices covering amounts claimed under clause (iii) above.
The Contract Sum shall be paid by Concessionaire to Contractor in monthly installments (“Scheduled Payments”) based on percentage completion of the TTMS Work as demonstrated by Contractor and verified by Concessionaire subject to the Maximum Cumulative Drawdown Schedule and in accordance with the Payment and Values Schedule, as may be adjusted from time to time pursuant to the terms of this Agreement.
Representatives of Concessionaire and Contractor shall determine the Contract Sum amount in accordance with the Payment and Values Schedule.
Concessionaire’s Project Director shall have the authority to (a) issue Concessionaire’s instructions and other communications to Contractor, (b) determine achievement of milestones under the Payment and Values Schedule, (c) issue Concessionaire’s determination regarding ▇▇▇▇ Ex Service Commencement, ▇▇▇▇ Ex Final Completion, the Contractor’s Punch List and the Concessionaire’s Punch List, and (d) execute Proposal Requests and Scope Change Orders.
If Concessionaire approves Contractor’s Change Order Proposal, Concessionaire will issue and Contractor will execute and accept a written Scope Change Order in the form attached to this Agreement as Exhibit G, and the Contract Sum, the Payment and Values Schedule, the ▇▇▇▇ Ex Guaranteed Final Completion Date and any other appropriate and necessary changes in either the Comprehensive Agreement or the ▇▇▇▇ Ex Design- Build Contract shall be adjusted as set forth in such Scope Change Order.
If Concessionaire approves Contractor’s Change Order Proposal, Concessionaire will issue and Contractor will execute and accept a written Scope Change Order in the form attached to this Agreement as Exhibit G, and the Contract Sum, the Payment and Values Schedule, the Guaranteed Substantial Completion Date and any other appropriate changes in the Contract Documents shall be adjusted as set forth in such Scope Change Order.
Concessionaire’s Project Manager shall have the authority to (a) issue Concessionaire’s instructions and other communications to Contractor, (b) determine achievement of milestones under the Payment and Values Schedule, (c) issue Concessionaire’s determination regarding Substantial Completion, Final Acceptance, the Contractor’s Punch List and the Concessionaire’s Punch List, and (d) execute Proposal Requests and Scope Change Orders.
The adjustment, if any, to the Guaranteed Substantial Completion Date and the Payment and Values Schedule specified in any Change Order Proposal shall be limited to the delays to the Critical Path directly attributable to and necessarily incurred as a result of the proposed Scope Change.
The adjustment, if any, to the ▇▇▇▇ Ex Guaranteed Final Completion Date and the Payment and Values Schedule specified in any Change Order Proposal shall be limited to the delays to the Critical Path directly attributable to and necessarily incurred as a result of the proposed Scope Change.
In the event of a suspension of the TTMS Work pursuant to this Section 15.1.1, Concessionaire will authorize a Scope Change Order or, at its option, a Work Order if appropriate, making required adjustments to one or more of the ▇▇▇▇ Ex Guaranteed Final Completion Date, the Contract Sum or the Payment and Values Schedule, and such other adjustments as are appropriate, with any disputes being resolved pursuant to the dispute resolution process set forth in Article 19.