Common use of Importance of Timely Notice Clause in Contracts

Importance of Timely Notice. Contractor acknowledges and agrees that, due to the limited availability of funds for the Trainsets and the importance of schedule, timely delivery of notification of requests for Change Orders and updates thereto are of vital importance to Owner. Owner is relying on Contractor to evaluate, promptly upon the occurrence of any circumstance, whether the circumstance will affect schedule or costs and, if so, whether Contractor believes a time extension and/or price increase is required hereunder. If an event or situation occurs that may affect the Contract Amount or the Contract Time, Owner will evaluate the situation and determine whether it wishes to make any changes to the Work so as to bring the Work within Owner’s funding and time constraints.

Importance of Timely Notice. Contractor acknowledges and agrees that, due to the limited availability of funds for the Trainsets and the importance of schedule, timely delivery of notification of requests for Change Orders and updates thereto are of vital importance to OwnerAuthority. Owner Authority is relying on Contractor to evaluate, promptly upon the occurrence of any circumstance, whether the circumstance will affect schedule or costs and, if so, whether Contractor believes a time extension and/or price increase is required hereunder. If an event or situation occurs that may affect the Contract Amount or the Contract Time, Owner Authority will evaluate the situation and determine whether it wishes to make any changes to the Work so as to bring the Work within OwnerAuthority’s funding and time constraints.

Importance of Timely Notice. Contractor acknowledges and agrees that, due to the limited availability of funds for the Trainsets Project and the importance of schedule, timely delivery of notification of requests for Change Orders and updates thereto are of vital importance to OwnerAuthority. Owner Authority is relying on Contractor to evaluate, promptly upon the occurrence of any circumstance, whether the circumstance will affect schedule or costs and, if so, whether Contractor believes a time extension and/or price increase is required hereunder. If an event or situation occurs that may affect the Contract Amount or the Contract Timea Milestone Acceptance Deadline, Owner Authority will evaluate the situation and determine whether it wishes to make any changes to the Work so as to bring the Work within OwnerAuthority’s funding and time constraints.