Common use of Contractor Reimbursement Clause in Contracts

Contractor Reimbursement. In the event COUNTY terminates CONTRACT for convenience, COUNTY shall reimburse CONTRACTOR for approved shuttle purchase expenses incurred during the term of the CONTRACT as follows: COMPENSATION = B divided by C multiplied by A less D. (B/C) x A - D A = Amount (USD) actually paid by CONTRACTOR to shuttle vehicle supplier for purchase of shuttle vehicle used in this contract. B = Number of full months between the CONTRACT termination date and the date the CONTRACT would have expired by its terms if COUNTY did not exercise its right to early termination and did not opt to extend the initial CONTRACT term. C = Number of full months between the CONTRACTOR’s shuttle purchase date and the date the CONTRACT would have expired by its terms if COUNTY did not exercise its right to early termination and did not opt to extend the initial contract term. D = Xxxxx Bluebook price or value determined by independent professional appraisal at the time of termination. COUNTY shall select either aforementioned method and if appraisal is selected, COUNTY shall identify appraiser and pay for any appraisal expenses. CONTRACTOR shall submit to COUNTY copies of shuttle purchase agreements (or other supporting documentation approved by COUNTY) showing the CONTRACTOR’s actual purchase cost within 60 days of the respective shuttle purchase date. CONTRACTOR acknowledges and agrees if CONTRACTOR fails to submit the aforementioned documentation as required, CONTRACTOR waives its right to compensation under this section. Under no circumstances shall any compensation be due to the CONTRACTOR after expiration of the initial term of this CONTRACT or if the COUNTY terminates this CONTRACT for cause. If the calculated compensation amount is negative, no compensation shall be due to either the COUNTY or CONTRACTOR.

Contractor Reimbursement. In the event COUNTY terminates the CONTRACT for convenience, COUNTY shall reimburse CONTRACTOR for approved shuttle purchase office Facility expenses incurred during the term of the CONTRACT as follows: COMPENSATION = B divided by C multiplied by A less D. (B/C) C x A - D A = Amount (USD) actually paid by CONTRACTOR to shuttle vehicle supplier for purchase of shuttle vehicle used CONTRACTOR’s actual Operating Area improvement construction costs submitted in accordance with "Record Drawings’ and Construction Codes”, section VI, item f. Article F – Mechanics Liens or Stop-Notices in this contractsection. B = Number of full months between the initial CONTRACT termination date and the date the CONTRACT would have expired by its terms if COUNTY did not exercise its right to early termination and did not opt to extend the initial CONTRACT term. C = Number of full months between the CONTRACTOR’s shuttle purchase date CONTRACTOR completed construction of Operating Area improvements and the date the CONTRACT would have expired expire by its terms if COUNTY did not exercise its right to early termination and did not opt to extend the initial contract term. D = Xxxxx Bluebook price or value determined by independent professional appraisal at the time of termination. COUNTY shall select either aforementioned method and if appraisal is selected, COUNTY shall identify appraiser and pay for any appraisal expenses. CONTRACTOR shall submit to COUNTY copies of shuttle purchase agreements (or other supporting documentation approved by COUNTY) showing the CONTRACTOR’s actual purchase cost within 60 days of the respective shuttle purchase datecompletion of construction of any Operating Area improvement: (1) notifications of completion of construction and (2) submit detailed supporting documentation of construction costs together with “asbuilt” record drawings in accordance with section VI, item f – “Record Drawings” and Construction Cost. CONTRACTOR acknowledges and agrees if CONTRACTOR fails to submit the aforementioned notifications and supporting documentation for any such Operating Area improvements as required, CONTRACTOR waives its right to compensation under this section. Under no circumstances shall any compensation be due to the CONTRACTOR after expiration of the initial term of this CONTRACT or if the COUNTY terminates this CONTRACT for cause. If the calculated compensation amount is negative, no compensation shall be due to either the COUNTY or CONTRACTOR.