Common use of Change in Laws and Regulations Clause in Contracts

Change in Laws and Regulations. 19.1. Unless otherwise specified in the Contract, if after the Bid due date any law, regulation, ordinance, order or bylaw having the force of law is enacted, promulgated, abrogated, or changed in India where the sites is located (which shall be deemed to include any change in interpretation or application by the competent authorities) that subsequently affects the project delivery, then such delivery shall be correspondingly amended, to the extent that the AMISP has thereby been affected in the performance of any of its obligations under the Contract. 19.2. The Party affected by a change in law shall give notice giving details of the likely impact of the change in law. The Parties shall negotiate in good faith to place the affected party at the same economic position as if no change in law had occurred. Provided only such change in law events which have financial impact beyond a threshold of [1% of the Contract Value] are to be considered for the purposes of grant of relief to the affected Party.

Change in Laws and Regulations. ‌ 19.1. Unless otherwise specified in the Contract, if after the Bid due date any law, regulation, ordinance, order or bylaw having the force of law is enacted, promulgated, abrogated, or changed in India where the sites is located (which shall be deemed to include any change in interpretation or application by the competent authorities) that subsequently affects the project delivery, then such delivery shall be correspondingly amended, to the extent that the AMISP has thereby been affected in the performance of any of its obligations under the Contract. 19.2. The Party affected by a change in law shall give notice giving details of the likely impact of the change in law. The Parties shall negotiate in good faith to place the affected party at the same economic position as if no change in law had occurred. Provided only such change in law events which have financial impact beyond a threshold of [1% of the Contract Value] are to be considered for the purposes of grant of relief to the affected Party.

Change in Laws and Regulations. 19.1. Unless otherwise specified in the Contract, if after the Bid due date any law, regulation, ordinance, order or bylaw having the force of law is enacted, promulgated, abrogated, or changed in India where the sites is located (which shall be deemed to include any change in interpretation or application by the competent authorities) that subsequently affects the project delivery, then such delivery shall be correspondingly amended, to the extent that the AMISP has thereby been affected in the performance of any of its obligations under the Contract. 19.2. The Party affected by a change in law shall give notice giving details of the likely impact of the change in law. The Parties shall negotiate in good faith to place the affected party at the same economic position as if no change in law had occurred. Provided only such change in law events which have financial impact beyond a threshold of [1% of the Contract Value] are to be considered for the purposes of grant of relief to the affected Party.