Common use of Guaranteed Price and Adjustments Clause in Contracts

Guaranteed Price and Adjustments. (a) The Guaranteed Price hereunder, excluding Value Added Tax, shall be the Guaranteed Price under the Project Agreement less the Cost of the Financing as set out in Schedule 8 to the Project Agreement. (b) The Guaranteed Price hereunder will not be subject to adjustment despite changes in the Construction Work, unless such changes in the Construction Work constitute a Change in the Scope of the Construction Work. The parties further agree that the Guaranteed Price hereunder will only be adjusted where the Contract Documents specifically and expressly refer to an adjustment to the Guaranteed Price hereunder, and no claim for an adjustment to the Guaranteed Price hereunder on any legal or equitable basis outside of this specific and express right to an adjustment of the Guaranteed Price hereunder set out in the Contract Documents will be allowed. In order to be effective, any permitted adjustment to the Guaranteed Price hereunder must be provided for in a Change Order under Schedule 11 – Change Procedure, of the Project Agreement, which Schedule has been incorporated herein pursuant to Section 1.1(b) hereof. (c) The provisions of Section 3.2 of the Project Agreement shall apply mutatis mutandis and without duplication to this Construction Contract, with the intent that only the cash allowances permitted under the Project Agreement (including expenditures, excesses, deficits and surpluses) shall be permitted hereunder.

Guaranteed Price and Adjustments. (a) The Guaranteed Price hereunder, hereunder excluding Value Added Tax, shall be the Guaranteed Price under the Project Agreement less the Cost of the Financing as set out in Schedule 8 to the Project Agreement. (b) The Guaranteed Price hereunder will not be subject to adjustment despite changes in the Construction Work, unless such changes in the Construction Work constitute a Change in the Scope of the Construction Work. The parties further agree that the Guaranteed Price hereunder will only be adjusted where the Contract Documents specifically and expressly refer to an adjustment to the Guaranteed Price hereunder, and no claim for an adjustment to the Guaranteed Price hereunder on any legal or equitable basis outside of this specific and express right to an adjustment of the Guaranteed Price hereunder set out in the Contract Documents will be allowed. In order to be effective, any permitted adjustment to the Guaranteed Price hereunder must be provided for in a Change Order under Schedule 11 – Change Procedure, of the Project Agreement, which Schedule has been incorporated herein pursuant to Section 1.1(b) hereof. (c) The provisions of Section 3.2 of the Project Agreement shall apply mutatis mutandis and without duplication to this Construction Contract, with the intent that only the cash allowances permitted under the Project Agreement (including expenditures, excesses, deficits and surpluses) shall be permitted hereunder.