Common use of CA Compensation Event Notice Clause in Contracts

CA Compensation Event Notice. 12.6.1.1 If Contractor is affected by a CA Compensation Event, it will give written notice to Concessionaire within twenty (20) days following the date on which Contractor first became aware (or should have become aware using all reasonable due diligence) that an event has occurred and that it is or will become a CA Compensation Event (a “CA Compensation Event Notice”). The CA Compensation Event Notice will set forth, in such form and substance as is required to satisfy the Concessionaire’s obligations under the Comprehensive Agreement for such notice: (A) the CA Compensation Event and its date of occurrence in reasonable detail, (B) the amount by which Contractor claims the Contract Sum should be adjusted as a result of the CA Compensation Event and (C) details of the calculation thereof; provided, that if the amount of such Contract Sum adjustment and details of such calculation are not available within the twenty (20)-day notice period, Contractor may submit an estimate of the amount claimed, or if known, the actual amount claimed, and details thereof no later than forty- five (45) days from the submission of a CA Compensation Event Notice, and Contractor may update the amount of claimed Contract Sum adjustment and details thereof every thirty (30) days. Concessionaire shall submit a “Compensation Event Notice” to the Department under Section 14.01(a)(i) of the Comprehensive Agreement based on the CA Compensation Event Notice submitted by Contractor and such other information provided by Contractor pursuant to this Section 12.6.1.1 and thereafter assert its rights under the Comprehensive Agreement with respect to the CA Compensation Event claimed by Contractor. 12.6.1.2 Subject to Sections 12.14 and 12.15, if, for any reason, Contractor fails to deliver such CA Compensation Event Notice within the such twenty (20)-day period, Contractor will be deemed to have irrevocably and forever waived and released any Claim or right to an adjustment to the Contract Sum or other adverse effects on costs, expenses and liabilities attributable to such CA Compensation Event. 12.6.1.3 After Concessionaire submits a “Compensation Event Notice” under the Comprehensive Agreement based on a CA Compensation Event claimed by Contractor, under Section 14.01(a)(iii) of the Comprehensive Agreement the Department may but it is not required to obtain, at its sole cost, (A) a comprehensive report as to Concessionaire’s estimate of the net cost impact attributable to the CA Compensation Event (which will incorporate the adjustment to the Contract Sum sought by Contractor) and (B) from a traffic and revenue consultant a traffic and revenue study, prepared in accordance with Good Industry Practice, analyzing and calculating the estimated net revenue impact attributable to the CA Compensation Event. Under the Comprehensive Agreement, within 90 days after receiving a

CA Compensation Event Notice. 12.6.1.1 If Contractor is affected by a CA Compensation Event, it will give written notice to Concessionaire within twenty fifteen (2015) days following the date on which Contractor first became aware (or should have become aware using all reasonable due diligence) that an event has occurred and that it is or will become a CA Compensation Event (a “CA Compensation Event Notice”). The CA Compensation Event Notice will set forth, in such form and substance as is required to satisfy the Concessionaire’s obligations under the Comprehensive Agreement for such notice: (A) the CA Compensation Event and its date of occurrence in reasonable detail, (B) the amount by which Contractor claims the Contract Sum should be adjusted as a result of the CA Compensation Event and (C) details of the calculation thereof; provided, that if the amount of such Contract Sum adjustment and details of such calculation are not available within the twenty fifteen (20)-day 15)-day notice period, Contractor may submit an estimate of the amount claimed, or if known, the actual amount claimed, and details thereof no later than forty- five twenty-one (4521) days from the submission of a CA Compensation Event Notice, and Contractor may update the amount of claimed Contract Sum adjustment and details thereof every thirty (30) days. Concessionaire shall submit a “Compensation Event Notice” to the Department under Section 14.01(a)(i) of the Comprehensive Agreement based Based on the CA Compensation Event Notice submitted by Contractor and such other information provided by Contractor pursuant to this Section 12.6.1.1 Concessionaire shall submit a “CA Compensation Event Notice” to Department, and thereafter assert its rights seek the Department’s approval, under Section 14.01(a)(i) of the Comprehensive Agreement with respect to the CA Compensation Event claimed by Contractor. 12.6.1.2 Subject to Sections 12.14 and 12.15, ifIf, for any reason, Contractor fails to deliver such CA Compensation Event Notice within the such twenty fifteen (20)-day 15) day period, Contractor will be deemed to have irrevocably and forever waived and released any Claim or right to an adjustment to the Contract Sum or other adverse effects on costs, expenses and liabilities attributable to such CA Compensation Event. 12.6.1.3 After Concessionaire submits a “CA Compensation Event Notice” under the Comprehensive Agreement based on a CA Compensation Event claimed by Contractor, under Section 14.01(a)(iii) of the Comprehensive Agreement the Department may but it is not required to obtain, at its sole cost, (A) a comprehensive report as to Concessionaire’s estimate of the net cost impact attributable to the CA Compensation Event (which will incorporate the adjustment to the Contract Sum sought by Contractor) and (B) from a traffic and revenue consultant a traffic and revenue study, prepared in accordance with Good Industry Practice, analyzing and calculating the estimated net revenue impact attributable to the CA Compensation Event. Under the Comprehensive Agreement, within 90 days after receiving aa “Compensation Event Notice” and the supporting documentation, the Department is to provide to Concessionaire a copy of such reports as it has elected to obtain and, if obtained from Concessionaire, Concessionaire will provide a copy of such report to Contractor. Under Section 14.01(a)(iii) of the Comprehensive Agreement, if the Department disagrees with the entitlement to or the amount of “Concessionaire Damages” claimed by Concessionaire (which will incorporate the adjustment to the Contract Sum sought by Contractor), Concessionaire and the Department are to commence good faith negotiations to resolve the dispute within 120 days after the delivery of the “Compensation Event Notice.” All changes to the Contract Sum and corresponding changes to the Payment and Values Schedule and other appropriate changes to either the Comprehensive Agreement or the 395 Design-Build Contract shall be reflected in a Scope Change Order entered into pursuant to Section 12.1.

CA Compensation Event Notice. 12.6.1.1 If Contractor is affected by a CA Compensation Event, it will give written notice to Concessionaire within twenty fifteen (2015) days following the date on which Contractor first became aware (or should have become aware using all reasonable due diligence) that an event has occurred and that it is or will become a CA Compensation Event (a “CA Compensation Event Notice”). The CA Compensation Event Notice will set forth, in such form and substance as is required to satisfy the Concessionaire’s obligations under the Comprehensive Agreement for such notice: (A) the CA Compensation Event and its date of occurrence in reasonable detail, (B) the amount by which Contractor claims the Contract Sum should be adjusted as a result of the CA Compensation Event and (C) details of the calculation thereof; provided, that if the amount of such Contract Sum adjustment and details of such calculation are not available within the twenty fifteen (20)-day 15)-day notice period, Contractor may submit an estimate of the amount claimed, or if known, the actual amount claimed, and details thereof no later than forty- five twenty-one (4521) days from the submission of a CA Compensation Event Notice, and Contractor may update the amount of claimed Contract Sum adjustment and details thereof every thirty (30) days. Concessionaire shall submit a “Compensation Event Notice” to the Department under Section 14.01(a)(i) of the Comprehensive Agreement based Based on the CA Compensation Event Notice submitted by Contractor and such other information provided by Contractor pursuant to this Section 12.6.1.1 12.6. 1.1 Concessionaire shall submit a “CA Compensation Event Notice” to Department, and thereafter assert its rights seek the Department’s approval, under Section 14.01(a)(i) of the Comprehensive Agreement with respect to the CA Compensation Event claimed by Contractor. 12.6.1.2 Subject to Sections 12.14 and 12.15, if. If, for any reason, Contractor fails to deliver such CA Compensation Event Notice within the such twenty fifteen (20)-day 15) day period, Contractor will be deemed to have irrevocably and forever waived and released any Claim or right to an adjustment to the Contract Sum or other adverse effects on costs, expenses and liabilities attributable to such CA Compensation Event. 12.6.1.3 . After Concessionaire submits a “CA Compensation Event Notice” under the Comprehensive Agreement based on a CA Compensation Event claimed by Contractor, under Section 14.01(a)(iii) of the Comprehensive Agreement the Department may but it is not required to obtain, at its sole cost, (A) a comprehensive report as to Concessionaire’s estimate of the net cost impact attributable to the CA Compensation Event (which will incorporate the adjustment to the Contract Sum sought by Contractor) and (B) from a traffic and revenue consultant a traffic and revenue study, prepared in accordance with Good Industry Practice, analyzing and calculating the estimated net revenue impact attributable to the CA Compensation Event. Under the Comprehensive Agreement, within 90 days after receiving aa “Compensation Event Notice” and the supporting documentation, the Department is to provide to Concessionaire a copy of such reports as it has elected to obtain and, if obtained from Concessionaire, Concessionaire will provide a copy of such report to Contractor. Under Section 14.01(a)(iii) of the Comprehensive Agreement, if the Department disagrees with the entitlement to or the amount of “Concessionaire Damages” claimed by Concessionaire (which will incorporate the adjustment to the Contract Sum sought by Contractor), Concessionaire and the Department are to commence good faith negotiations to resolve the dispute within 120 days after the delivery of the “Compensation Event Notice.” All changes to the Contract Sum and corresponding changes to the Payment and Values Schedule and other appropriate changes to either the Comprehensive Agreement or the Xxxx Ex Design-Build Contract shall be reflected in a Scope Change Order entered into pursuant to Section 12.1.