Change Agreed Clause Samples
The "Change Agreed" clause establishes the process by which both parties formally consent to modifications in the terms of their agreement. Typically, this clause requires that any changes be documented in writing and signed by authorized representatives of each party, ensuring that verbal agreements or informal communications do not alter the contract. Its core function is to maintain clarity and prevent disputes by ensuring that only mutually acknowledged and properly recorded changes are legally binding.
Change Agreed. If the Parties agree or it is determined under the Dispute Resolution Procedure that the Contractor is required to incur additional Capital Expenditure due to a Qualifying Change in Law, then the Contractor shall use its reasonable endeavours to obtain funding for such Capital Expenditure on terms reasonably satisfactory to it and to the Senior Lenders. Not used Financing If the Contractor has used reasonable endeavours to obtain funding for the Capital Expenditure referred to in clause 59.4 (Change Agreed), but has been unable to do so within forty (40) Business Days of the date that the agreement or determination referred to in clause 59.4 (Change Agreed) occurred, then the Authority shall pay to the Contractor an amount equal to that Capital Expenditure on or before the date falling twenty (20) Business Days after the Capital Expenditure has been incurred. Adjustment to Unitary Charge Any compensation payable under this clause 59 by means of an adjustment to or reduction in the Unitary Charge shall be determined and made in accordance with clause 73 (Financial Adjustments).
Change Agreed. If the parties agree or it is determined under the Dispute Resolution Procedure that the Operator is required to incur additional Capital Expenditure due to a Qualifying Change in Law then the Operator shall use its reasonable endeavours to obtain funding for such Capital Expenditure on terms reasonably satisfactory to it.
Change Agreed. If the Parties agree or it is determined under the Dispute Resolution Procedure that the Contractor is required to incur additional Capital Expenditure due to a Qualifying Change in Law (excluding the Contractor’s Share of any Capital Expenditure agreed or determined to be required as a result of a General Change in Law under this Clause), then the Contractor shall use its reasonable endeavours to obtain funding for such Capital Expenditure on terms reasonably satisfactory to it.
Change Agreed. If the Parties cannot agree the contents of the Estimate then the dispute shall be determined in accordance with the Dispute Resolution Procedure. As soon as practicable after the contents of the Estimate have been agreed (and in any event within [ ]) or otherwise determined, the Authority shall: issue a Confirmation Notice; or withdraw the Authority Notice of Change. If the Authority does not issue a written notice pursuant to paragraph [ ] of this Part 5 of this Change Protocol within twenty (20) Business Days of receipt of a written notice served by the Contractor (which notice may only be served after expiry of a period of [three (3)] Months from the date the Authority receives the Estimate) requiring the Authority either to confirm the Estimate or withdraw the Authority Change Notice then the Authority Change Notice shall be deemed to have been withdrawn. Where an Authority Change Notice is withdrawn pursuant to paragraph 3.2 of this Part 5 of this Change Protocol or deemed to have been withdrawn pursuant to paragraph 3.3 of this Part 6 of this Change Protocol, the Authority shall pay to the Contractor within twenty (20) Business Days of receipt of an invoice for such amount, the reasonable Third-Party Costs (which shall not be greater than that proposed in the any agreed Third Party Costs including any costs incurred by the Senior Lender in carrying out due diligence) incurred by the Contractor in preparing the Estimate provided that: the Contractor has satisfied the Approval Criteria and other requirements of this Change Protocol in all material respects; the Contractor has included in the Estimate a cost breakdown of the estimate of Third-Party Costs to be incurred by the Contractor in preparing the Contractor Stage 2 Response and: the Authority has approved such estimate of Third-Party Costs and the type of third-party prior to any Third Party Costs being incurred and has been provided with such evidence as it may reasonably require in order to verify such Third Party Costs; and no cap or fixed fee agreed with the Contractor in respect of any Third Party Costs has been exceeded.
Change Agreed. If the parties agree to a change to the Works or in the Services, or a change to the Works or in the Services is determined to be needed under the Dispute Resolution Procedure because of a Qualifying Change in Law and if the change to the Works or in the Services requires the Contractor to incur additional Capital Expenditure (excluding Capital Expenditure in relation to a General Change in Law which is not the Authority’s Share of any Capital Expenditure agreed or determined to be payable by the Authority as a result of a General Change in Law under this clause), then the Contractor shall use its reasonable endeavours to obtain funding for such additional Capital Expenditure on terms reasonably satisfactory to it and the Senior Lenders.
Change Agreed. 55.3.1 If the parties agree or it is determined under the Dispute Resolution Procedure that the Contractor is required to incur additional Capital Expenditure due to a Qualifying Change in Law (excluding the Contractor’s share of any Capital Expenditure agreed or determined to be required as a result of a General Change in Law under this Clause 55), then the Contractor shall use its reasonable endeavours to obtain funding for such additional Capital Expenditure on terms reasonably satisfactory to it and the Senior Lenders.
55.3.2 The Contractor’s Share shall be solely for the account of the Contractor.
55.3.3 The Authority shall meet any additional operating costs (including financing costs, if any) of the Services and loss of revenue of the Contractor agreed pursuant to Clause 55.2 which result directly from a Discriminatory Change in Law and/or a Specific Change in Law by means of a Unitary Charge Adjustment.
55.3.4 The Authority shall be entitled to any savings in Capital Expenditure and/or operating costs of the Services which result directly from a Discriminatory Change in Law and/or a Specific Change in Law and there shall be a Unitary Charge Adjustment to reflect such savings.
Change Agreed. If the Parties agree or it is determined under Clause 44 (Dispute Resolution) that PPP Co. is required to incur additional Capital Expenditure due to a Qualifying Change in Law, then PPP Co. will use its reasonable endeavours to obtain funding for such Capital Expenditure on terms reasonably satisfactory to the Authority and the Senior Lenders. The Authority will be entitled to any savings in Capital Expenditure and/or operations costs which result directly from a Qualifying Change in Law and there will be a Unitary Charge adjustment to reflect such savings.
Change Agreed. If the Parties agree or it is determined under the Dispute Resolution Procedure that the Contractor is required to incur additional Capital Expenditure due to a Qualifying Change in Law (excluding the Contractor's Share of any Capital Expenditure agreed or determined to be required as a result of a General Change in Law under this clause), then the Contractor shall use its reasonable endeavours to obtain funding for such Capital Expenditure on terms reasonably satisfactory to it and to the Senior Lenders. Contractor's ShareNot used The Contractor's Share of any Cumulative Capital Expenditure agreed or determined to be required as a result of a General Change in Law shall be solely for the account of the Contractor.