Commercial Impact Sample Clauses
The 'Commercial Impact' clause defines how certain events, actions, or changes within a contract affect the commercial terms and obligations of the parties involved. Typically, this clause outlines scenarios such as price adjustments, changes in delivery schedules, or modifications to payment terms that may arise due to unforeseen circumstances or market fluctuations. Its core practical function is to provide a clear mechanism for addressing and managing the financial and operational consequences of changes, thereby reducing uncertainty and potential disputes between the parties.
Commercial Impact. Before making any decision on any issue related to any Product which may have a commercial impact, the PC shall refer such issue to the JSC for guidance and then make its decision in accordance with the guidance given by the JSC.
Commercial Impact. 1. The Parties agree that the CO-011 Price will decrease by USD $[***] in recognition of the changes listed in Section IV.A of this Change Order. The Parties agree this reduction to CO-011 Price will be recognized in the value of LNTP No. 2 and will not affect the Contract Price. The Parties agree the value of Work performed under LNTP No. 2 is adjusted from USD $[***] to USD $[***].
Commercial Impact. The Parties agree the value of Work performed under LNTP No. 1 is adjusted from USD $[***] to USD $[***].
Commercial Impact. The Parties agree Contractor shall be compensated a fixed, lump-sum amount of $19,494,641.00 for its performance of this CO-010 (the “CO-010 Price”). The Parties agree that $10,666,641.00 of the CO-010 Price is compensation for the New Scope, and therefore the Contract Price shall be increased by $10,666,641.00 as full compensation for all changes listed in Section I.A and I.B of this CO-010 in accordance with Section V below. Contractor shall credit Owner for all amounts paid for the LNTP No. 1 Work by deducting such amounts actually paid under LNTP No. 1 from the Payment Milestones listed in the table attached as Exhibit D to this CO-010.
2. LNTP NO. 1 PAYMENT SCHEDULE