Common use of Changes to the Contract Price Clause in Contracts

Changes to the Contract Price. (a) Except as set forth in Section 9.5.3(b), with respect to any Change Order required to be issued to increase the Contract Price as a result of an event described in Section 9.5.1, unless the Parties agree otherwise in writing, such Change Order will, on a retrospective basis, increase the Contract Price by an amount equal to the Direct Costs incurred by Contractor solely in connection with such event, plus a xxxx-up. The xxxx-up is not to exceed percent ( %) in the aggregate, including all Subcontractor and Contractor xxxx-ups solely in connection with such Change. (b) In no event will Contractor be entitled to payment for Direct Costs hereunder to the extent that such costs would have occurred notwithstanding such event, due to the concurrent fault, actions or omissions of Contractor or its Subcontractors. (c) For purposes hereof, “Direct Costs” shall mean only the actual, documented costs that are directly incurred by Contractor as a result of the event giving rise to the Change Order for the following items: (i) compensation for labor utilized and in the direct employ of Contractor at the Project Site, at the rates as set forth in Exhibit B-4; (ii) cost of materials and permanent equipment; (iii) payments properly made by Contractor to Subcontractors; (iv) rental charges of necessary machinery and equipment (but excluding hand tools) used at the Project Site;