Common use of Effect of Industry-Wide Disruption on Contract Price Clause in Contracts

Effect of Industry-Wide Disruption on Contract Price. In the event of an Industry-Wide Disruption, the Contract Price shall be adjusted to allocate the risk of such market conditions between the Owner and Design-Builder through the following equitable escalation in the Contract Price: 12.5.1 If during the course of the Project the CCI increases over the Baseline Index established in Section 9.2.1, Design-Builder shall notify Owner in writing that it is adjusting the Contract Price. 12.5.2 In the event that the CCI increases over the Baseline Index, the Contract Price shall be adjusted to reflect such increase, but only with respect to those Applications for Payment submitted after the date on which written notice of the adjustment in Contract Price is given. 12.5.3 Payment for any adjustment in the Contract Price as a result of this Article 12 shall be made in accordance with the terms of this Agreement.

Effect of Industry-Wide Disruption on Contract Price. In the event of an Industry-Wide Disruption, the Contract Price shall be adjusted to allocate the risk of such market conditions between the Owner and Design-Builder through the following equitable escalation in the Contract Price: 12.5.1 If during the course of the Project the CCI increases over the Baseline Index established in Section 9.2.1, Design-Builder shall notify Owner in writing that it is adjusting the Contract Price.. Cardinal Ethanol, LLC December 14, 2006 12.5.2 In the event that the CCI increases over the Baseline Index, the Contract Price shall be adjusted to reflect such increase, but only with respect to those Applications for Payment submitted after the date on which written notice of the adjustment in Contract Price is given. 12.5.3 Payment for any adjustment in the Contract Price as a result of this Article 12 shall be made in accordance with the terms of this Agreement.