CHANGES REQUIRING AN INCREASE IN CONTRACT SUM Sample Clauses

CHANGES REQUIRING AN INCREASE IN CONTRACT SUM. If any Change in the Work will result in an increase in the Contract Sum, the Owner shall have the right to require the performance thereof on a lump sum basis, a unit price basis or a time and material basis, all as hereinafter more particularly described.
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CHANGES REQUIRING AN INCREASE IN CONTRACT SUM. 4.8.1 If the AGENCY elects to have the Change in Work performed pursuant to the Firm Fixed Price Method, its election shall be based on a lump sum proposal which shall be submitted by CONTRACTOR to the AGENCY within five (5) workdays of the AGENCY’s request, but the AGENCY’s request for a lump sum proposal shall not be deemed an election by the AGENCY to have the Change in Work performed on a lump sum basis.
Sample 1
CHANGES REQUIRING AN INCREASE IN CONTRACT SUM. (a) If the Owner elects to have the Change in the Work performed on a lump sum basis, its election shall be based on a lump sum proposal which shall be submitted by the Contractor to the Owner within five (5) workdays of the Owner’s request therefore, but the Owner’s request for a lump sum proposal shall not be deemed an election by the Owner to have the Change in the Work performed on a lump-sum basis.
Sample 1

Related to CHANGES REQUIRING AN INCREASE IN CONTRACT SUM

  • Adjustments of Borrowings upon Effectiveness of Increase On the Commitment Increase Date, the Borrower shall (A) prepay the outstanding Loans (if any) of the affected Class in full, (B) simultaneously borrow new Loans of such Class hereunder in an amount equal to such prepayment; provided that with respect to subclauses (A) and (B), (x) the prepayment to, and borrowing from, any existing Lender shall be effected by book entry to the extent that any portion of the amount prepaid to such Lender will be subsequently borrowed from such Lender and (y) the existing Lenders, the Increasing Lenders and the Assuming Lenders shall make and receive payments among themselves, in a manner acceptable to the Administrative Agent, so that, after giving effect thereto, the Loans of such Class are held ratably by the Lenders of such Class in accordance with the respective Commitments of such Class of such Lenders (after giving effect to such Commitment Increase) and (C) pay to the Lenders of such Class the amounts, if any, payable under Section 2.15 as a result of any such prepayment. Concurrently therewith, the Lenders of such Class shall be deemed to have adjusted their participation interests in any outstanding Letters of Credit of such Class so that such interests are held ratably in accordance with their commitments of such Class as so increased.

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