Common use of Amount of Negotiated Termination Settlement Clause in Contracts

Amount of Negotiated Termination Settlement. DB Contractor and TxDOT may agree, as provided in Section 15.3, upon the whole or any part of the amount or amounts to be paid to DB Contractor by reason of the total or partial termination of the Work for convenience pursuant to Section 15.1. Such agreed amount or amounts, exclusive of settlement costs, shall not exceed the total Price as reduced by the amount of payments otherwise made and the Price of Work not terminated. Upon determination of the settlement amount, a Change Order will be issued, and DB Contractor will be paid the agreed amount as described in this Section 15.4.

Amount of Negotiated Termination Settlement. DB Contractor and TxDOT may agree, as provided in Section 15.38.9.3, upon the whole or any part of the amount or amounts to be paid to DB Contractor by reason of the total or partial termination of the Work for convenience pursuant to Section 15.18.9.1. Such agreed amount or amounts, exclusive of settlement costs, shall not exceed the total Price as reduced by the amount of payments otherwise made and the Price of Work not terminated. Upon determination of the settlement amount, a Change Order this Design-Build Contract will be issuedamended accordingly, and DB Contractor will be paid the agreed amount as described in this Section 15.48.9.