Compensation for monetary loss Sample Clauses

Compensation for monetary loss. The Authority and the Concessionaire acknowledge that if the Concessionaire suffers monetary loss in the event of lane closure/ traffic diversion on account of Capacity Augmentation the Authority may, in its discretion and at its own cost, undertake traffic sampling, in accordance with Schedule-J hereto, during the period of such lane closure/ traffic diversion and a second survey, post opening of the lanes/ removal of traffic diversion, in order to determine the actual traffic on the Project Road. For the avoidance of doubt, the compensation in the case of monetary loss shall be determined by the Authority based on the results of the abovementioned traffic surveys. It is hereby agreed between the Parties that the Concessionaire shall only be entitled to any compensation under this Clause and the Authority shall only be obliged to pay compensation hereunder, in case it is determined by the Authority that the monetary loss suffered by the Concessionaire in the event of such lane closure/ traffic diversion on account of Capacity Augmentation is greater than 20% (twenty percent) thereof.
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Compensation for monetary loss. The Authority and the Concessionaire acknowledge that if the Concessionaire suffer monetary loss in the event of lane closure/ traffic diversion on account of Capacity Augmentation the Authority may, in its discretion and at its own cost, undertake traffic sampling, in accordance with Schedule-J hereto, during the period of such lane closure/ traffic diversion and a second survey, post opening of the lanes/ removal of traffic diversion and a second survey, post opening of the lanes/ removal of traffic diversion, in order to determine the actual traffic on the Project Highway. For the avoidance of doubt, the compensation in the case of monetary loss shall be determined by the Authority based on the results of the above mentioned traffic surveys. It is hereby agreed between the Parties that the Concessionaire shall only be entitled to any compensation under this Clause and the Authority shall only be obliged to pay compensation hereunder, in case it is determined by the Authority that the monetary loss suffered by the Concessionaire in the event of such lane closure/ traffic diversion on account of Capacity Augmentation is greater than 20 % (twenty percent) thereof. In the event of any Dispute between the Parties under Clause 14.1, the Dispute Resolution Procedure shall apply.
Sample 1
Compensation for monetary loss. The Authority and the Concessionaire acknowledge that if the Concessionaire suffers monetary loss in the event of lane closure/ traffic diversion on account of Capacity Augmentation the Authority may, in its discretion and at its own cost, undertake traffic sampling, in accordance with Schedule-J hereto, during the period of such lane closure/ traffic diversion and a second survey, post opening of the lanes/ removal of traffic diversion, in order to determine the actual traffic on the Project Highway. For the avoidance of doubt, the compensation in the case of monetary loss shall be determined by the Authority based on the results of the abovementioned traffic surveys. It is hereby agreed between the Parties that the Concessionaire shall only be entitled to any compensation under this Clause and the Authority shall only be obliged to pay compensation hereunder in case it is determined by the Authority that the monetary loss suffered by the Concessionaire in the event of such lane closure/ traffic diversion on account of Capacity Augmentation is greater than 20% (twenty percent) thereof. In the event of any Dispute between the Parties under Clause 14.1, the Dispute Resolution Procedure shall apply. Notwithstanding to anything contrary present in the Agreement, during the period of Capacity Augmentation, if the Concessionaire incurs any financial loss due to modification in toll rates for the Project Highway, the Concessionaire may by notice require the Authority to pay an amount that would place the Concessionaire in the same financial position that it would have enjoyed had there been no reduction in toll rates due to Capacity Augmentation. The Authority shall pay the amount specified therein to the Concessionaire on a quarterly basis. For the avoidance of doubt, it is clarified that compensation will be limited to reduction in toll rates and shall not include any loss due to reduction in traffic. The amount of compensation shall be calculate using the following formula: A*(B-C) where A= Traffic calculated as per Article 19 B= Existing toll rate before the beginning of Capacity Augmentation C= Reduced toll rate at the time of Capacity Augmentation Financial gains or loss due to Capacity Augmentation Notwithstanding anything to the contrary present in the Agreement, during the period of Capacity Augmentation or thereafter; if the Equivalent Tollable Length of the Project Highway increases, the increased revenue realised by the Concessionaire shall be paid t...
Sample 1

Related to Compensation for monetary loss

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  • Compensation for Damages 4.1 If the Principal has disqualified the Bidder from the tender process prior to the award according to Section 3, the Principal is entitled to demand and recover the damages equivalent Xxxxxxx Money Deposit/Bid Security.

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  • REFUND OF UNEARNED COMPENSATION The Party of the Second Part agrees to refund the Party of the First Part any compensation received for which no services were rendered. TERMINATION: This contract may be terminated by either party pursuant to law. OTHER CONDITIONS: Any subsequent contracts shall supersede the provisions of this contract. Student Achievement and Accountability instructional staff may be required to serve students in more than one location. Given this, the 15TH OF SEPTEMBER, 2016. PARTIES: The Fort Xxxxx School District 100, Party of the First Part, and XXXXXXX X. XXXXXX Party of the Second Part, agree as follows:

  • Show-Up Compensation An employee who is scheduled for work and reports for work, except for situations addressed in Article 123--Inclement or Hazardous Conditions, and is released from work shall be paid the equivalent of two

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