Increase in costs. If as a result of Change in Law, the SPD suffers an increase in costs or reduction in net after-tax return or other financial burden, the aggregate financial effect of which exceeds the higher of Rs. [1] crore (Rupees one crore)***** and 0.5% (zero point five per cent) of the Tariff [] in any Accounting Year, the SPD may so notify Railways and propose amendments to this Agreement so as to place the SPD in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the cost increase, reduction in return or other financial burden as aforesaid. Upon notice by the SPD, the Parties shall meet, as soon as reasonably practicable, but no later than [30 (thirty)] days from the date of notice and either agree on amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the SPD may by notice require Railways to pay an amount that would place the SPD in the same financial position that it would have enjoyed had there been no such Change in Law and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, Railways shall pay the amount specified therein; provided that if Railways shall dispute such claim of the SPD, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 30.1 shall be restricted to changes in law directly affecting the SPD‟s costs of performing its obligations under this Agreement.
Increase in costs. If as a result of Change in Law, the Concessionaire suffers an increase in costs or reduction in net after-tax return or other financial burden, the aggregate financial effect of which exceeds the higher of Rs ............... crore (Rupees ) or 2% (two per cent) of the total Annuity Payments in any Accounting Year, the Concessionaire may so notify the Authority and propose amendments to this Agreement so as to place the Concessionaire in the same financial position as it would have enjoyed had there been no such Change in Law resulting in increased costs, reduction in return or other financial burden as aforesaid. Upon notice by the Concessionaire, the Parties shall meet, as soon as reasonably practicable as but no later than 30 (thirty) days from the date of notice and either agree on amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Concessionaire may by notice require the Authority to pay an amount that would place the Concessionaire in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Authority shall pay the amount specified therein; provided that if the Authority shall dispute such claim of the Concessionaire, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 35.1 shall be restricted to changes in law directly affecting the Concessionaire’s costs of performing its obligations under this Agreement.
Increase in costs. Any changes or additions to those portions of each UWP participated in by MDOT, the FHWA, and/or the FTA that will cause an increase in yearly total costs will require the prior written approval of MDOT, the FHWA, and/or the FTA and the processing of a revised PROJECT AUTHORIZATION and written transmittal letter.
Increase in costs. 12. To pay to the Lessor on demand the amount equal to any increase in the costs referred to in any of Paragraphs 7, 8, 9, 10 and 11 immediately preceding by reason of any installation, alteration or use made in or to the demised premises by or for the benefit of the Lessee or to pay, where such installation, alteration or use is for the benefit of the Lessee and other lessees of premises on the lands, such share of such costs as may be reasonably allocated by the Lessor. In determining whether any increased insurance premiums are the result of any installation, alteration or use made in or to the demised premises by or for the benefit of the Lessee, a schedule or rate calculation issued or provided by the insurer providing such insurance showing the various components of the rate shall be deemed to be conclusive evidence thereof.
Increase in costs. 4.1. In addition to the Price, the Buyer shall pay (any such payment a "Supplemental Payment") the additional costs of the Supplier in performing any lifting or delivery or its obligations under the Agreement related to that lifting, which are caused by:
Increase in costs. Should the costs of the Project exceed the anticipated costs as set forth in Section 1.1 such that funding available to either Party is insufficient to fund completion of the Project, either Party may terminate this Agreement or seek agreement of the other Party to modify the Project Scope. Any such modification of the Project must be evidenced by written amendment to this Agreement between the Parties. If available funding is insufficient to complete the Project such that either Party exercises its right to terminate this Agreement, such Party shall notify the other in accordance with the provisions hereof and shall satisfy its financial obligations incurred prior to termination.
Increase in costs. 12.1.1 Change in Law shall mean the occurrence or coming into force of any of the following, after the Appointed Date:
Increase in costs. The term "Base Year" means the calendar year set ----------------- forth in Article 1.4
Increase in costs. If as a result of Change in Law, the Concessionaire suffers an increase in costs or reduction in net after-tax return or other financial burden, the aggregate financial effect of which exceeds the higher of Rs. [] (Rupees []), the Concessionaire may so notify the Authority and propose amendments to this Agreement so as to place the Concessionaire in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the cost increase, reduction in return or other financial burden as aforesaid. Upon notice by the Concessionaire, the Parties shall meet, as soon as reasonably practicable but no later than 30 (thirty) days from the date of notice, and either agree on amendments to this Agreement or on any other mutually agreed arrangement: Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Clause 36.1 shall be restricted to changes in law directly affecting the Concessionaire‟s costs of performing its obligations under this Agreement.
Increase in costs. If as a result of Change in Law during the Construction Period, the Concessionaire suffers an increase in costs or reduction in net after-tax return or other financial burden, the aggregate financial effect of which exceeds the higher of Rs. 1 crore (Rupees one crore) or 2% (two per cent) of the total annual Staggered Annuity Payments in any Concession Year during the Construction Period, the Concessionaire may so notify the Authority and propose amendments to this Agreement so as to place the Concessionaire in the same financial position as it would have enjoyed had there been no such Change in Law resulting in increased costs, reduction in return or other financial burden as aforesaid. Upon notice by the Concessionaire, the Parties shall meet, as soon as reasonably practicable as but no later than 30 (thirty) days from the date of notice and either agree on amendments to this Agreement or on any other mutually agreed arrangement. Provided that if no agreement is reached within 90 (ninety) days of the aforesaid notice, the Concessionaire may by notice require the Authority to pay an amount that would place the Concessionaire in the same financial position that it would have enjoyed had there been no such Change in Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, the Authority shall pay the amount specified therein; provided that if the Authority shall dispute such claim of the Concessionaire, the same shall be settled in accordance with the Dispute Resolution Procedure. For the avoidance of doubt, it is agreed that this Article 35.1 shall be restricted only to events of changes in law directly affecting the Concessionaire’s costs of performing its obligations during the Construction Period under this Agreement.
