Reduction in Scope of the Project Sample Clauses

Reduction in Scope of the Project. 16.6.1 If the Concessionaire shall have failed to complete any Construction Works on account of Force Majeure or for reasons solely attributable to the Authority, the Authority may, in its discretion, require the Concessionaire to pay 80% (eighty percent) of the sum saved therefrom, and upon such payment to the Authority, the obligations of the Concessionaire in respect of such works shall be deemed to have been fulfilled. For the avoidance of doubt, it is agreed that in the event such reduction in Scope of the Project causes or will cause a reduction in net after-tax return of the Concessionaire, the Parties shall meet, as soon as reasonably practical, and agree on a full or partial waiver of the aforesaid payment of 80% (eighty per cent) so as to place the Concessionaire in the same financial position as it would have enjoyed had there been no reduction in Scope of the Project. It is further agreed that the liability of the Authority under this Clause 16.6 shall not extend beyond waiver of the aforesaid 80% (eighty per cent). It is also agreed that in the event of a dispute, the Dispute Resolution Procedure shall apply. 16.6.2 For determining the obligations of the Concessionaire under this Clause 16.6, the provisions of Clauses 16.1, 16.2 and 16.4 shall apply mutatis mutandis, and upon issue of Change of Scope Order by the Authority hereunder, the Concessionaire shall pay forthwith the sum specified therein.
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Reduction in Scope of the Project. 16.6.1 If the Concessionaire shall have failed to complete any Construction Works on account of Force Majeure or for reasons solely attributable to the Concessioning Authority, the Concessioning Authority may, in its discretion, require the Concessionaire to pay 80% (eighty percent) of the sum saved therefrom, and upon such payment to the Concessioning Authority, the obligations of the Concessionaire in respect of such works shall be deemed to have been fulfilled. 16.6.2 For determining the obligations of the Concessionaire under this Clause 16.6, the provisions of Clauses 16.1, 16.2 and 16.4 shall apply mutatis mutandis, and upon issue of Change of Scope Order by the Concessioning Authority hereunder, the Concessionaire shall pay forthwith the sum specified therein.
Reduction in Scope of the Project. 16.6.1 If the Concessionaire shall have failed to complete any Construction Works on account of Force Majeure or for reasons attributable to the Authority or under the provision of Clause 10.3.4 of this Agreement, the Authority shall follow the following process for calculation of total cost of reduced Scope I. On direction by the Authority, the Independent Engineer to assess the civil cost of the reduced Scope, as per the schedule of rates applicable on the Bid Due Date. II. The civil cost of the reduced Scope shall be multiplied by the 1.05 to arrive at the estimated cost of reduced Scope. III. The estimated cost of reduced Scope shall then be multiplied by the ratio of Bid Project Cost to Estimated Project Cost to arrive at the Total Cost of Reduced Scope. On or before a Payment Milestone immediately succeeding the date of finalization of such Reduction in Scope, the Bid Project Cost shall be reduced by the Total Cost of Reduced Scope and all payments made or to be made to the Concessionaire shall be suitably adjusted and recoveries, if any, shall be made from the payment to be released on that Payment Milestone immediately succeeding the date of finalization of Reduction in Scope. For the avoidance of doubt, it is agreed that upon the Reduction of Scope and revision of Bid Project Cost, all references to Bid Project Cost would mean the revised Bid Project Cost and all the payments would be calculated as per the revised Bid Project Cost. 16.6.2 For determining the obligations of the Concessionaire under this Clause 16.6, the provisions of Clauses 16.1, 16.2 and 16.4 shall apply mutatis mutandis, and upon issue of Change of Scope Order by the Authority hereunder, the Concessionaire shall pay forthwith the sum specified therein. 4The Authority shall transfer 75% (seventy five per cent) of the amount so received to the first ranked bidder whose bid shall have been matched by the Concessionaire.
Reduction in Scope of the Project. $ The Authority shall transfer 75% (seventy five percent) of the amount so received to the first ranked bidder whose bid shall have been matched by the Concessionaire. from 16.6.1 If the Concessionaire shall have failed to complete any Construction Works on account of Force Majeure or for reasons solely attributable to the Authority, the Authority may, in its discretion, require the Concessionaire to pay 80% (eighty percent) of the sum saved therefrom, and upon such payment to the Authority, the obligations of the Concessionaire in respect of such works shall be deemed to have been fulfilled. For the avoidance of doubt, it is agreed that in the event such reduction in Scope of the Project causes or will cause a reduction in net after-tax return of the Concessionaire, the Parties shall meet, as soon as reasonably practical, and agree on a full or partial waiver of the aforesaid payment of 80% (eighty per cent) so as to place the Concessionaire in the same financial position as it would have enjoyed had there been no reduction in Scope of the Project. It is further agreed that the liability of the Authority under this Clause 16.6 shall not extend beyond waiver of the aforesaid 80% (eighty per cent). It is also agreed that in the event of a dispute, the Dispute Resolution Procedure shall apply. xxx.xxxxxx.xxx
Reduction in Scope of the Project. If the Concessionaire shall have failed to complete any Construction Works on account of Force Majeure or for reasons solely attributable to MOR, MOR may, in its discretion, require the Concessionaire to pay 90% (nighty per cent) of the sum saved there from, and upon such payment to MOR, the obligations of the Concessionaire in respect of such works shall be deemed to have been fulfilled. For the avoidance of doubt, it is agreed that in the event such reduction in Scope of the Project causes or will cause a reduction in net after-tax return of the Concessionaire, the Parties shall meet, as soon as reasonably practical, and agree on a full or partial waiver of the aforesaid payment of 90% (nighty per cent) so as to place the Concessionaire in the same financial position as it would have enjoyed had there been no reduction in Scope of the Project. It is further agreed that the liability of MOR under this Clause 16.2 shall not extend beyond waiver of the aforesaid 90% (nighty per cent). It is also agreed that in the event of a dispute, the Dispute Resolution Procedure shall apply.
Reduction in Scope of the Project. 16.6.1 If the Authority has failed to handover one or more Project Sites referred to under Clause 10.1 and the Concessionaire is not able to complete the Construction Works for reasons attributable to the Authority not handing over all the Project Sites or due to Force Majeure conditions, the Authority shall undertake the following procedure to calculate the cost of reduced Scope: I. On the direction by the Authority, the Independent Engineer shall assess the civil cost of the reduced Scope, as per the schedule of rates applicable on the Bid Due Date. II. The civil cost of the reduced Scope shall be multiplied by the [……]3 to arrive at the estimated cost of reduced Scope.
Reduction in Scope of the Project. 16.6.1. If the Concessionaire shall have failed to complete any Construction Works on account of Force Majeure or for reasons solely attributable to the Authority, the Authority may, in its discretion, require the Concessionaire to pay 80% (eighty percent) of the sum saved therefrom, and upon such payment to the Authority, the obligations of the Concessionaire in respect of such works shall be deemed to have been fulfilled. For the avoidance of doubt, it is agreed that in the event such reduction in Scope of the Project causes or will cause a reduction in net after-tax return of the Concessionaire, the Parties shall meet, as soon as reasonably practical, and agree on a full or partial waiver of the aforesaid payment of 80% (eighty per cent) so as to place the Concessionaire in the same financial position as 16.6.2. For determining the obligations of the Concessionaire under this Clause 16.6, the provisions of Clauses 16.1, 16.2 and 16.4 shall apply mutatis mutandis, and upon issue of Change of Scope Order by the Authority hereunder, the Concessionaire shall pay forthwith the sum specified therein.
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Reduction in Scope of the Project. 14. 6. 1 I f the Concessionaire shall have failed t o complete any Construction Works on account of Force Majeure or for reasons solely attributable to the Government, the Government may, in its discretion, require the Concessionaire to pay 80% (eighty percent) of the sum saved therefrom, and upon such payment to the Government, the obligations of the Concessionaire in respect of such works shall be deemed to have been fulfilled. For the avoidance of doubt, it is agreed that in the event such reduction in Scope of the Project causes or will cause a reduction in net after-tax return of the Concessionaire, the Parties shall meet, as soon as reasonably practical, and agree on a full or partial waiver of the aforesaid payment of 80% (eighty per cent) so as to place the Concessionaire in the same f inancial position as it would have enjoyed had there been no reduction in Scope of the Project. I t is further agreed that the liability of the Government under this Clause 14.6 shall not extend beyond waiver of the aforesaid 80% ( eighty per cent). I t is also agreed that in the event of a dispute, the Dispute Resolution Procedure shall apply.
Reduction in Scope of the Project. If the Change of Scope Order results in a reduction in Scope of the Project, the Mine Developer and Operator shall pay back to TANGEDCO the sum saved therefrom, if any, within 30 (thirty) days from the date of Change of Scope Order, and upon such payment to TANGEDCO, the obligations of the Mine Developer and Operator in respect of such works shall be deemed to have been fulfilled.
Reduction in Scope of the Project. 15.5.1 If the Change of Scope Order results in a reduction in Scope of the Project, the Mine Operator shall pay to the Authority [80% (eighty per cent) of the sum saved therefrom] within 30 (thirty) days from the date of Change of Scope Order, and upon such payment to the Authority, the obligations of the Mine Operator in respect of such works shall be deemed to have been fulfilled. 15.5.2 For determining the obligations of the Mine Operator under this Clause 15.5, the provisions of Clauses 15.1, 15.2 and 15.4 shall apply mutatis mutandis, and upon issue of Change of Scope Order by the Authority hereunder, the Mine Operator shall pay forthwith the sum specified therein.
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