Common use of Increase in costs Clause in Contracts

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 SPD Supplier 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] 1 crore (Rupees one crore)***** crore)38 and 0.50.1% (zero point five one per cent) of the Tariff [] Capacity Charge in any Accounting Year, the SPD Supplier may so notify Railways the Utility and propose amendments to this Agreement so as to place the SPD Supplier in the same financial position as it would have enjoyed had there been no such Change in Law resulting in the cost increaseincreased costs, reduction in return or other financial burden as aforesaid. Upon notice by the SPDSupplier, the Parties shall meet, as soon as reasonably practicable, practicable but no later than [30 (thirty)] ) days from the date of notice 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 Supplier may by notice require Railways the Utility to pay an amount that would place the SPD Supplier in the same financial position that it would have enjoyed had there been no such Change in Law Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, Railways the Utility shall pay the amount specified therein; provided that if Railways the Utility shall dispute such claim of the SPDSupplier, 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 21.1 shall be restricted to changes in law directly affecting the SPD‟s Supplier‟s costs of performing its obligations under this Agreement.

Increase in costs. If as a result of Change in Law, the SPD Concessionaire suffers an increase in costs or reduction in net after-after- tax return or other financial burden, the aggregate financial effect of which exceeds the higher of Rs. [1] crore 12 lakh (Rupees one crore)***** and 0.5% (zero point five per centtwelve lakh) of the Tariff [] in any Accounting Year, the SPD Concessionaire may so notify Railways the Authority and propose amendments to this Agreement so as to place the SPD 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 SPDConcessionaire, the Parties shall meet, as soon as reasonably practicable, practicable but no later than [30 (thirty)] ) days from the date of notice 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 Concessionaire may by notice require Railways the Authority to pay an amount that would place the SPD Concessionaire in the same financial position that it would have enjoyed had there been no such Change in Law Law, and within 15 (fifteen) days of receipt of such notice, along with particulars thereof, Railways the Authority shall pay the amount specified therein; provided that if Railways the Authority shall dispute such claim of the SPDConcessionaire, 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 5.6.1 shall be restricted to changes in law directly affecting the SPD‟s Concessionaire’s costs of performing its obligations under this Agreement.