Limitation of Cost or Funds Sample Clauses

Limitation of Cost or Funds. In accordance with FAR 52.232-20 and FAR 52.232-22, the contractor shall notify the Contracting Officer in writing 60 days in advance of the forecasted expenditure of 75% of the obligated amount on cost reimbursable Task Orders or when then total estimated costs will be greater or substantially less than had been previously estimated. The Government’s obligation to reimburse the contractor for incurred costs and the corresponding increment of fee is limited to the amount of funding allotted to the task order.
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Limitation of Cost or Funds. The following clause shall be inserted in all contracts that include a Limita- tion of cost or Limitation of funds clause in accordance with 3432.705–2:
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Limitation of Cost or Funds. A. If this Contract is fully funded, paragraphs A.(1.) through A.(7.) of this Clause apply: (1.) The parties estimate that performance of this Contract, exclusive of any fee, will not cost Company more than the Estimated Cost set out in this Contract. Seller shall use its best efforts to perform the Work and all of its obligations under this Contract within the Estimated Cost. (2.) Seller shall promptly notify the Company Buyer in writing whenever it has reason to believe that (a) the costs that Seller expects to incur performing this Contract in the next sixty (60) days, when added to all cost previously incurred, will exceed 75% of the Estimated Cost, or (b) the total cost for performing this Contract, exclusive of any fee, will be either greater or substantially less than the Estimated Cost. As part of such notification, Seller shall provide a revised estimate of the total costs of performing this Contract. (3.) Except as required by some other provision of this Contract, specifically citing and stated to be an exception to this Clause, (i) Company shall not be obligated to reimburse Seller for costs exceeding the Estimated Cost of this Contract, and (ii) Seller shall have no obligation to continue performance or incur costs under this Contract (including actions under a termination clause) in excess of the Estimated Cost unless Company notifies Seller in writing that the Estimated Cost has been increased and provides a revised Estimated Cost. (4.) No notice, communication or representation in any form other than that specified in paragraph A.(3.) above, or signed by anyone other than the Company Buyer responsible for administration of this Contract, shall alter this Contract’s Estimated Cost. Absent such notice, Company is not obligated to reimburse Seller for any costs in excess of the Estimated Cost, whether such costs are incurred for performance of this Contract or as a result of termination. (5.) If the Estimated Cost is increased, any costs Seller incurs before the increase that exceed the previously estimated cost shall be allowable to the same extent as if incurred afterward, unless Company issues a notice directing that the increase is solely to cover termination or other specified expenses. (6.) A change order (or any other action constituting a change under the Changes clause) shall not be considered an authorization to exceed the Estimated Cost, except to the extent that it explicitly states that the Estimated Cost increased. (7.) Nothing i...
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Related to Limitation of Cost or Funds

  • Payment of Costs and Expenses The Borrower agrees to pay on demand all reasonable expenses of each of the Agents and the Arranger (including the reasonable fees and out-of-pocket expenses of counsel to the Agents and the Arranger and of local or foreign counsel, if any, who may be retained by counsel to the Agents) in connection with (a) the syndication by the Syndication Agent and the Arranger of the Loans, the negotiation, preparation, execution and delivery of this Agreement and of each other Loan Document, including schedules and exhibits, and any amendments, waivers, consents, supplements or other modifications to this Agreement or any other Loan Document as may from time to time hereafter be required, whether or not the transactions contemplated hereby are consummated; (b) the filing, recording, refiling or rerecording of each Pledge Agreement and each Security Agreement and/or any Uniform Commercial Code financing statements relating thereto and all amendments, supplements and modifications to any thereof and any and all other documents or instruments of further assurance required to be filed or recorded or refiled or rerecorded by the terms hereof or of such Pledge Agreement, Security Agreement or Uniform Commercial Code financial statements; and (c) the preparation and review of the form of any document or instrument relevant to this Agreement or any other Loan Document. The Borrower further agrees to pay, and to save the Agents, the Documentation Agent, the Arranger, the Issuer and the Lenders harmless from all liability for, any stamp or other similar taxes which may be payable in connection with the execution or delivery of this Agreement, the Credit Extensions made hereunder or the issuance of the Notes or Letters of Credit or any other Loan Documents. The Borrower also agrees to reimburse each Agent, the Documentation Agent, the Arranger, the Issuer and each Lender upon demand for all reasonable out-of-pocket expenses (including reasonable attorneys' fees and legal expenses) incurred by such Agent, the Documentation Agent, the Arranger, the Issuer or such Lender in connection with (x) the negotiation of any restructuring or "work-out", whether or not consummated, of any Obligations and (y) the enforcement of any Obligations.

  • Limitation of County’s Liability Anything herein to the contrary notwithstanding, any financial obligation the County may incur hereunder, including for the payment of money, shall not be deemed to constitute a pecuniary liability or a debt or general obligation of the County; provided, however, that nothing herein shall prevent the Company from enforcing its rights hereunder by suit for mandamus or specific performance.

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