Common use of Limitation of Obligation Clause in Contracts

Limitation of Obligation. A. Upon execution of the Contract for the Work, one hundred percent (100%) of the Contract Sum will be made available for payment and allotted to the Contract. Changes in the Contract amount may be made only by written Contract Change Order, approved and executed by the OWNER and the Contractor. B. No claims for further compensation or extensions of time, whether for delay, overhead, profit, fees, acceleration, force majeure, disruption, impact, or any other reason whatsoever, shall be made by the Contractor as a result of the change contained in such Contract Change Order, as payments and extensions of time specified thereunder shall constitute payment in full for the Work as altered therein; and OWNER shall never be obligated in any event to pay or reimburse Contractor in excess of the Contract amount as revised by such approved Contract Change Order. C. The terms and provisions of this Article entitled “Limitation of Obligation” shall control where in conflict with any other terms or provisions of the Contract, however, nothing in this Article shall be construed to deny the OWNER’s unilateral right to suspend or terminate work under the applicable provisions of the Contract.