Adjustments to Contract Price. (i) Upon receipt of a Change Order Statement, Owner shall determine the adjustment, if any, to the Contract Price. Contractor shall be deemed to have accepted the adjustment or nonadjustment to the Contract Price if Owner does not receive written objection notice from Contractor within five (5) business days after Contractor's receipt of notice of the amount of the adjustment or nonadjustment to the Contract Price from Owner. If Contractor timely delivers a written objection notice to Owner, the adjustment shall be determined by applying one of the following standards: (1) by reference to Unit Prices or (2) in the case of additions to the Work, cost of performing the additional work plus fifteen percent (15%), and in the case of deletions from the Work, an amount equal to the savings in cost plus ten percent (10%). The Work shall not be delayed or interrupted during resolution of the adjustment or nonadjustment to the Contract Price.
(ii) Alternatively, and in Owner's sole discretion, Owner may ask Contractor to submit bid prices for the modifications in the Work. Such bid prices shall be consistent with the contract prices for the Plans and Specification covered by this Agreement. If any bid price is not consistent, Owner may accept bids from other contractors. If the same are lower than that of Contractor, Owner will afford Contractor the opportunity to adjust its bid accordingly. If Contractor does not agree to adjust its bid accordingly within five (5) business days, Owner may, at its option, renegotiate or terminate this Agreement in its entirety.
Adjustments to Contract Price. (a) Delayed Delivery Price Adjustment:
i) No payment shall be made by the Builder to the Buyer for a delay in the Delivery of the Vessel of up to thirty (30) days beyond the Delivery Date as specified in Article V(a), and as may be adjusted under the provisions of Article IV(c), IX(b), XII, or XV(b).
ii) If the Delivery is delayed more than the aforesaid thirty (30) days, the Builder shall pay the Buyer, as liquidated damages (not as penalty), the amount of United States Dollars ***** for each calendar day of delay beyond the aforesaid thirty (30) days up to and including two hundred (200) days after the Delivery Date and the Contract Price shall be reduced by the amount of such liquidated damages.
iii) Under the conditions set forth in Article V(f), if Delivery of the Vessel is delayed for a period of more than two hundred (200) days beyond the Delivery Date, the Buyer may reject the Vessel or, alternatively, the Buyer may accept the Vessel with a longer delay in Delivery at an agreed future date for delivery and upon reduction in the Contract Price. The Buyer shall make such election to delay Delivery with liquidated damages or reject the Vessel within fifteen (15) days following expiration of the two hundred (200) days following the Delivery Date. If the Buyer does not make an election within fifteen (15) days as provided, the Buyer shall be deemed to have not rejected the Vessel and to have agreed to permit delayed Delivery and the payment of liquidated damages by Builder. The Parties shall negotiate in good faith the amount of these liquidated damages, which shall in no event be less than as would be the case for a delay of one hundred and seventy days counting from midnight of the thirtieth (30th) day after the Delivery Date (the “Floor”) at the above specified rate of reduction.
iv) In the event that the Buyer elects to reject the Vessel as allowed under this Article VIII(a), the Builder shall immediately repay to the Buyer the amounts set forth in Article VII(g), whereupon this Contract shall terminate and such payment shall forthwith discharge all obligations, duties and liabilities of each party hereto to the other under this Contract.
v) The liquidated damages calculated under this Article shall be reduced by the number of days excused for Force Majeure under Article V(d) for which proper notice was given under Article V(e). Such Force Majeure offset shall be applied prior to applying the Floor in subarticle (a)(iii).
Adjustments to Contract Price. Upon receipt of a Change Order Statement, Owner shall determine the adjustment, if any, to the Contract Price. Contractor shall be deemed to have accepted the adjustment or nonadjustment to the Contract Price if Owner does not receive written objection notice from Contractor within five (5) business days after Contractor's receipt of notice of the amount of the adjustment or nonadjustment to the Contract Price from Owner. If Contractor timely delivers a written objection notice to Owner, the adjustment shall be determined by applying one of the following standards: (1) by reference to Unit Prices or (2) in the case of additions to the Work, cost of performing the additional work plus fifteen percent (15%), and in the case of deletions from the Work, an amount equal to the savings in cost plus ten percent (10%). The Work shall not be delayed or interrupted during resolution of the adjustment or nonadjustment to the Contract Price.
Adjustments to Contract Price. (a) If any changes to the Final Plans are approved by Owner in accordance with Section 2.7 hereof, the Contract Price shall be adjusted accordingly.
(b) The Contract Price for the Project includes a specific amount for F F & E equal to the F F & E Allowance as provided in Section 2.6 hereof. Any amounts expended for F F & E above the F F & E Allowance will be an increase to the Contract Price, the cost of which will be passed through to Owner at actual cost without any developer fee. Developer will endeavor to obtain the lowest possible cost for F F & E. Prior to incurring any costs in excess of the F F & E Allowance, Developer shall notify Owner in writing of the estimated amount of such excess. Developer will, upon request, provide Owner with documentation of the costs incurred by Developer for which reimbursement is sought.
(c) The costs by Developer in remedying unusual site conditions will be an increase to the Contract Price for the Project to the extent that such costs exceed an agreed upon allowance therefor and are the result of unusual site conditions not identifiable by Developer after the exercise of reasonable diligence at the time the Project was acquired. At such time as Developer becomes aware of any such unusual site conditions, Developer shall promptly notify Owner of the same and of the amount by which the estimated cost to correct said site conditions shall exceed such allowance. Developer will endeavor to obtain the lowest possible cost in remedying such unusual site conditions and will charge Owner for Developer's actual cost incurred, except that an unusual site condition which should have been identified by Developer in exercising reasonable diligence at the time the Project was acquired will be at Developer's cost.
Adjustments to Contract Price. The amount of any increase or decrease in the Contract Price will be determined based on one of the following methods listed below, in the order listed with unit pricing taking precedence over the other methods. Markup applies only to City-authorized time and material Work, and does not apply to any other payments to Contractor. For Work items or components that are deleted in their entirety, Contractor will only be entitled to compensation only for those direct, actual, and documented costs (including restocking fees), reasonably incurred before Contractor was notified of the City’s intent to delete the Work, with no markup for overhead, profit, or other indirect costs.
Adjustments to Contract Price. The Contract Price has been agreed upon based on certain estimations and projections of development and construction costs and revenues from power production which have been shared among the parties. Accordingly, the Contract Price is subject to adjustment, upwards or downwards, as appropriate, based on the following parameters:
Adjustments to Contract Price. The parties acknowledge and agree that, in accordance with Section 287.055(5)(a), Florida Statutes, the compensation due the Architect for an MDC Project, and any additions to the Architect's compensation, shall be adjusted to exclude any sums which Miami Dade College determines were increased due to inaccurate, incomplete, or non-current wage rates and other factual unit costs. Adjustments under this Section 4.6 shall be made within one (1) year following the Final Completion Date.
Adjustments to Contract Price. In the event there is any change in Applicable Law, the result of which is to materially increase Power Provider’s costs hereunder, Power Provider will promptly submit to Host Customer a written notice setting forth (a) the citation of the applicable change in Applicable Law, (b) the manner in which such change in Applicable Law has changed or will materially change Power Provider’s costs, including reasonable computations in connection therewith and (c) Power Provider’s proposed adjustment to the Solar Energy Price. Host Customer agrees to negotiate with Power Provider an adjustment in the Solar Energy Price such that the new rate compensates Power Provider for the cost increase related to the change in Applicable Law, which adjustment shall remain in effect over the remaining years of the Term of this Agreement or until the Applicable Law that caused the increase in costs is altered, repealed, or made inapplicable to the System.
Adjustments to Contract Price. (1) Upon receipt of a Change Order Statement, Builder shall determine the adjustment, if any, to the Contract Price. Subcontractor shall be deemed to have accepted the adjustment or non-adjustment to the Contract Price if Builder does not receive written objection notice from Subcontractor within five (5) business days after Subcontractor’s receipt of notice of the amount of the adjustment or non-adjustment to the Contract Price from Builder. If Subcontractor timely delivers a written objection notice to Builder, the adjustment shall be determined by applying one of the following standards: (A) by reference to Unit Prices (based upon the Schedule of Unit Prices described in Subcontractor’s approved bid), or
Adjustments to Contract Price. Within thirty (30) days after the end of each Semiannual Period, the Company shall deliver to CES a certificate signed by a Responsible Officer of the Company certifying with respect to each Facility (i) that the Actual Availability of such Facility during such Semiannual Period was not less than 80% for such Semiannual Period in the aggregate or (ii) if the Actual Availability of such Facility during such Semiannual Period was less than 80% for such Semiannual Period, specifying the Actual Availability for such Semiannual Period as a percentage. For purposes of calculating the Actual Availability of a Facility for a Semiannual Period, (A) both the Actual Energy Production and the Scheduled Energy Production during Scheduled Outage Periods during such Semiannual Period shall be deemed to be zero, and (B) to the extent that such Facility is wholly or partially prevented from operating by a Force Majeure, such Facility shall be deemed to have been Scheduled at its Applicable Capacity during such periods (or, in the event a Force Majeure only partially affects such Facility's availability, deem such affected portion of such Facility's Applicable Capacity so Scheduled) for all On Peak Hours during such period.
