Guarantee Adjustment Clause Samples
A Guarantee Adjustment clause defines the process for modifying the amount or terms of a guarantee provided under a contract. Typically, this clause outlines circumstances under which the guarantee may be increased or decreased, such as changes in project scope, contract value, or performance milestones. For example, if the contract value rises due to additional work, the guarantee amount may be adjusted proportionally. The core function of this clause is to ensure that the guarantee remains appropriate and sufficient throughout the contract, thereby protecting the interests of the parties and addressing changes in risk exposure.
Guarantee Adjustment. HONEYWELL’s Guaranteed Savings obligations under this Agreement are contingent upon: (1) CUSTOMER following the Energy and Operational Cost Avoidance Guarantee Practices set forth herein and in Attachment G; (2) no alterations or additions being made by CUSTOMER to any of the Covered Systems and Equipment without prior notice to and agreement by HONEYWELL; (3) CUSTOMER sending all current utility bills to HONEYWELL within two (2) weeks after receipt by CUSTOMER, if CUSTOMER fails to provide current utility bills for a period of time in excess of six (6) months HONEYWELL will send CUSTOMER written notice that it must send HONEYWELL copies of the utility bills and if CUSTOMER still fails to comply within thirty (30) days, HONEYWELL may, at its sole discretion, deem the Guarantee Savings obligation met during that period and any successive periods, and (4) HONEYWELL’s ability to render services not being impaired by circumstances beyond its control. To the extent CUSTOMER defaults in or fails to perform fully any of its obligations under this Agreement, HONEYWELL may, in its sole discretion, adjust its Guaranteed Savings obligation; provided, however, that no adjustment hereunder shall be effective unless ▇▇▇▇▇▇▇▇▇ has first provided CUSTOMER with written notice of CUSTOMER’s default(s) or failure(s) to perform and CUSTOMER has failed to cure its default(s) or failure(s) to perform within thirty (30) days after the date of such notice.
Guarantee Adjustment. MIDSTATE ENERGY, LLC.’s Guarantee Savings obligations under this Agreement are contingent upon: (1) Customer following the operations and maintenance requirements for the ECMs in accordance with the Agreement; (2) no alterations or additions being made by the Customer without prior written agreement of the Parties; (3) Customer sending all current utility bills to MIDSTATE ENERGY, LLC. within two (2) weeks after receipt; and (4) MIDSTATE ENERGY, LLC.’s ability to render services not being impaired by circumstances beyond its control. To the extent that the Customer defaults or fails to perform fully any of its obligations under this Agreement, MIDSTATE ENERGY, LLC. may, in its sole discretion, adjust the Guarantee Savings obligation; provided however, that no adjustment hereunder shall be effective unless MIDSTATE ENERGY, LLC. has first provided the Customer with written notice of Customer’s default(s) or failure(s) to perform and Customer has failed to cure its default(s) or failure(s) within thirty (30) days after receipt of such notice.
Guarantee Adjustment. NORESCO’s Guaranteed Savings obligations under this Guarantee are contingent upon: (1) CITY following the operations and maintenance requirements for the ECMs in accordance with the Design-Build Construction Contract between the Parties; (2) no alterations or additions being made to the ECMs by the CITY without prior notice and written agreement of the Parties; (3) CITY sending all current utility bills to NORESCO within two (2) weeks after receipt; and (4) NORESCO’S ability to render services not being impaired by circumstances beyond its control. To the extent that the CITY defaults or fails to perform fully any of its obligations under this Guarantee, NORESCO may, in its sole discretion, adjust the Guaranteed Savings obligation; provided, however, that no adjustment hereunder shall be effective unless NORESCO has first provided the CITY with written notice of CITY’s default(s) or failure(s) to perform and CITY has failed to cure its default(s) and failure(s) to perform within thirty (30) days after receipt of such notice.
Guarantee Adjustment. HONEYWELL’s Guaranteed Savings under this Agreement are contingent upon: (1) CUSTOMER following the Energy and Operational Cost Avoidance Guarantee Practices set forth herein;
Guarantee Adjustment. In the comparison of monthly earnings, any reductions in actual pay or guarantee brought about by the Flight Attendant through trip trade, Optional Exchange, personal other, mini-leave, etc., will result in a corresponding reduction in the scheduled hours of the denied trip selection.
Guarantee Adjustment. CTS's Guaranteed Savings obligations under this Agreement are contingent upon: (1) CUSTOMER following the Energy and Operational Cost Avoidance Guarantee Practices set forth herein and in Attachment E;