Common use of PRICE REDUCTION FOR DEFECTIVE COST OR PRICING DATA – MODIFICATIONS Clause in Contracts

PRICE REDUCTION FOR DEFECTIVE COST OR PRICING DATA – MODIFICATIONS. If the Contracting Officer determines that any price, including profit or fee, previously negotiated in connection with any modification to this Contract involving changes in cost plus applicable profit in excess of $250,000 was based upon the Contractor's or subcontractor's cost or pricing data that was not complete, accurate or current, such that the amount WMATA paid to the Contractor for such price adjustment was greater than the amount to which Contractor would have been entitled based upon accurate and complete data, WMATA shall be entitled to an adjustment in an amount equal to such overpayment. WMATA's rights hereunder shall be in addition to any other rights it may have under this Contract, at law or in equity.

Appears in 5 contracts

Samples: Contract, Contract, Contract

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