Value Engineering Change Proposals Sample Clauses

Value Engineering Change Proposals. DDOT desires the DB Contractor to have significant flexibility in determining how best to deliver the Project within the parameters established by the Contract Documents. The DB Contractor is encouraged to submit VECPs whenever it identifies potential savings. Notwithstanding the foregoing, DDOT’s Approval is required with respect to any proposed changes in the requirements of the Contract Documents. This Section 15.2 sets forth the requirements applicable to VECPs.
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Value Engineering Change Proposals. ‌ DGS desires the DB Contractor to have significant flexibility in determining how best to deliver the Project within the parameters established by the Contract Documents. The DB Contractor is encouraged to submit VECPs whenever it identifies potential savings. Notwithstanding the foregoing, DGS’s Approval is required with respect to any proposed changes in the requirements of the Contract Documents. DGS may solicit comment from Project stakeholders including Commission of Fine Arts, National Capitol Planning Commission and DC State Historic Preservation Office, on District approval that applies to VECPs that modify Project visual quality. This Section 15.2 sets forth the requirements applicable to VECPs.
Sample 1
Value Engineering Change Proposals. A. The Contractor may submit to the Authority, in writing, Value Engineering Change Proposals (VECP) for modifying the plans, Scope of Work or other requirements of the Contract for the purpose of reducing the total cost of purchase and/or operations/maintenance and/or improving the quality of the product. The VECP shall not impair, in any manner, the essential functions or characteristic of the project, including, but not limited to safety and design standards, service life, economy of operation, ease of maintenance or desired appearance. Value Engineering Change Proposals shall not be based solely upon a change to the required quantities shown in the Contract. B. Value Engineering Change Proposals shall contain the following information: (1) Description of the existing contract requirements which are involved in the value engineering proposal. (2) Description and justification of the proposal. (3) An itemization of the contract requirements that must be changed if the proposal is adopted. (4) A detailed estimate of the cost of performing the Work under the existing contract and under the proposed change. (5) A detailed estimate of additional costs to the Project attributable to the proposal on their build, revenue operation, and maintenance of the project. (6) A statement of the time within which the Authority must make a decision thereon. (7) The contract items of Work affected by the proposed changes, including any quantity variation attributable thereto. C. If a VECP is accepted by the Authority, the Total Contract Price shall be adjusted based upon a sharing of the net savings by Contractor and the Authority (50% the Authority, 50% Contractor). (1) Net savings are defined as gross savings less Contractor’s costs and less the Authority’s costs. (2) Estimated gross savings to Contractor means the difference between the cost of performing the Work according to the existing requirements and the cost to perform the Work according to the proposed change. In each instance, Contactor’s profit shall not be considered part of the cost. (3) Contractor costs mean reasonable costs incurred by Contractor in preparing the VECP and making the change, such as cancellation or restocking charges. (4) The Authority’s costs means reasonable costs incurred by the Authority and its consultants for evaluating and implementing the change, such as testing, redesign, and effect on other portions of the Work. (5) Contractor is not entitled to share in concurrent, collateral, or...
Sample 1
Value Engineering Change Proposals. 10.1.1 A Value Engineering Change Proposal (“VECP”) is a proposal developed, prepared, and submitted to UTA by the Contractor, which reduces the cost of the Work without impairing essential functions or characteristics of the Project, as determined by UTA in its sole discretion. UTA encourages Contractor to submit VECPs whenever it identifies potential savings or improvements. UTA may also request the Contractor to develop and submit a specific VECP. 10.1.2 In determining whether a VECP will impair essential functions or characteristics of the Project, UTA may consider: (i) relative service life; (ii) maintenance effort and frequency; (iii) environmental and aesthetic impacts; (iv) system service; (v) effect of other system components; and (vi) other issues as XXX xxxxx relevant. A VECP must not be based solely on a change in quantities. 10.1.3 Contractor must include the following information in any VECP: 10.1.3.1 A narrative description of the proposed change, 10.1.3.2 A discussion of differences between existing requirements and the proposed change, together with advantages and disadvantages of each changed item; 10.1.3.3 A complete cost analysis, including the cost estimate of any additional rights-of-way or easements required for implementation of the VECP; 10.1.3.4 Justification for changes in function or characteristics of each item and effect of the change on the performance on the end item; 10.1.3.5 A description of any previous use or testing of the proposed approach and the conditions and results. If the VECP was previously submitted on another UTA project, the Contractor shall indicate the date, contract number, and the action taken by UTA; 10.1.3.6 Costs of development and implementation; and 10.1.3.7 Any additional information requested by UTA, which must be provided in a timely manner.
Sample 1
Value Engineering Change Proposals. 10.1.1 A Value Engineering Change Proposal (“VECP”) is a proposal developed, prepared, and submitted to UTA by the Contractor, which reduces the cost of the Work without impairing essential functions or characteristics of the Project, as determined by UTA in its sole discretion. UTA encourages Contractor to submit VECPs whenever it identifies potential savings or improvements. UTA may also request the Contractor to develop and submit a specific VECP. 10.1.2 In determining whether a VECP will impair essential functions or characteristics of the Project, UTA may consider: (i) relative service life; (ii) maintenance effort and frequency;
Sample 1
Value Engineering Change Proposals. ‌ A. The Design-Builder, at any time, is encouraged to submit cost reduction proposals that may change the Technical Specifications, Contract Drawings or other requirements of the Contract. Such proposals shall be identified as Value Engineering Change Proposals (“VECP”) and each one shall be individually and sequentially numbered. For a VECP to be acceptable under this General Provision, it shall: (1) be identified by the Design-Builder as a VECP; (2) require a change to this Contract; and (3) decrease the Contract Price.
Sample 1
Value Engineering Change Proposals. (VECPs) VECPs shall be prepared in accordance with the forms and instructions provided in Attachment 5 . The VECP shall address what effect the proposed change will have on the TDP, Performance, Manufacturing, Quality, Maintenance, Packaging, MANPRINT, Logistics, Safety, Transportability, Cost Savings, and Nuclear Survivability (if applicable). It must also address what effect the VECP will have on the current production, Fielding and Retrofit. For VECPs affecting interface control, you shall obtain concurrence from all interface parties and include such concurrences as part of the VECP package (CDRL A00A).
Sample 1
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Related to Value Engineering Change Proposals

  • Engineering Changes Customer may request that Flextronics incorporate engineering changes into the Product by providing Flextronics with a description of the proposed engineering change sufficient to permit Flextronics to evaluate its feasibility and cost. Flextronics will proceed with engineering changes when the parties have agreed upon the changes to the Specifications, delivery schedule and Product pricing and the Customer has issued a purchase order for the implementation costs.

  • Benchmark Replacement Conforming Changes In connection with the use, administration, adoption or implementation of a Benchmark Replacement, the Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document.

  • Term SOFR Conforming Changes In connection with the use or administration of Term SOFR, the Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document. The Administrative Agent will promptly notify the Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.

  • Staffing Changes The Director’s prior written approval is required for the Consultant to remove, replace or add to any of its staffing identified in Attachment B of an Approved Service Order.

  • Superior Proposals Notwithstanding anything to contrary set forth in this Section 5.3, from the No-Shop Period Start Date (or, with respect to an Excluded Party, from the date hereof) until the Company’s receipt of the Requisite Stockholder Approval, the Company and the Special Committee may, directly or indirectly through one or more of their Representatives (including the Advisors), participate or engage in discussions or negotiations with, furnish any non-public information relating to the Company Group to, or afford access to the business, properties, assets, books, records or other non-public information, or to any personnel, of the Company Group pursuant to an Acceptable Confidentiality Agreement to any Person or its Representatives that has made or delivered to the Company an Acquisition Proposal after the No-Shop Period Start Date (or, with respect to an Excluded Party, after the date hereof), and otherwise facilitate such Acquisition Proposal or assist such Person (and its Representatives and financing sources) with such Acquisition Proposal (in each case, if requested by such Person), in each case with respect to an Acquisition Proposal that did not result from any material breach of Section 5.3(b); provided, however, that the Special Committee has determined in good faith (after consultation with its financial advisor and outside legal counsel) that such Acquisition Proposal either constitutes a Superior Proposal or is reasonably likely to lead to a Superior Proposal, and the Special Committee has determined in good faith (after consultation with its financial advisor and outside legal counsel) that the failure to take the actions contemplated by this Section 5.3(c) would be inconsistent with its fiduciary duties pursuant to applicable law; and provided further, however, that the Company will promptly (and in any event within 24 hours) make available to Parent any non-public information concerning the Company Group that is provided to any such Person or its Representatives that was not previously made available to Parent.

  • Acquisition Proposals Except as contemplated hereby, the Company shall not (and shall use reasonable efforts to cause its officers, directors and employees and any investment banker, attorney, accountant, or other agent retained by it not to) initiate, solicit or encourage, directly or indirectly, or knowingly take any action to facilitate, the making of, or engage in any negotiations or discussions concerning, any proposal or offer to acquire all or any significant part of the business and properties or capital stock of the Company, whether by merger, purchase of assets, tender offer or otherwise (an "Acquisition Proposal"), or provide any non-public information concerning the Company to any third party in connection with an Acquisition Proposal. The Company shall immediately cease and cause to be terminated any existing activities, discussions or negotiations with any parties conducted heretofore with respect to any of the foregoing. In the event the Company receives an Acquisition Proposal, it shall, subject to any confidentiality obligations imposed upon the Company in connection with such Acquisition Proposal, promptly (and in any event within 24 hours) inform Parent as to the receipt thereof. Notwithstanding the foregoing, nothing shall prohibit the Company from (a) furnishing information to, participating in discussions and negotiations directly or through its representatives or entering into an agreement relating to an Acquisition Proposal with, any third party (including parties with whom the Company or its representatives have had discussions on any basis on or prior to the date hereof) who makes an unsolicited proposal or offer to the Company or makes an unsolicited request for non-public information about the Company (pursuant to appropriate confidentiality agreements), which proposal, offer or request did not result from a breach of the first sentence of this Section 5.7, if the Company Board determines in good faith, after receiving advice from its financial advisors and independent legal counsel at a meeting of the Company Board, that such action is required for the Company Board to comply with its fiduciary duties under applicable law, (b) taking and disclosing to its stockholders any position, and making related filings with the SEC, as required by Rules l4e-2 and 14d-9 under the Exchange Act with respect to any tender offer or (c) taking any action and making any disclosure which the Company Board determines, after receiving advice from its financial advisors and independent legal counsel at a meeting of the Company Board, is required to be taken or made under applicable law (including, without limitation, laws relating to the fiduciary duties of directors), provided that at least 48 hours prior to the entry into or announcement of an intention to enter into a definitive agreement with respect to an Acquisition Proposal, the Company shall have provided written notice to Parent advising Parent of its intention to enter into a definitive agreement with respect to an Acquisition Proposal and specifying the material terms and conditions of such Acquisition Proposal.

  • Superior Proposal (a) Each party agrees and acknowledges that from and after the date hereof until the close of business on April 28, 1997, if Assignor receives a Superior Proposal, Assignor may (i) furnish any information requested by the Offering Party with respect to such Superior Proposal (other than the contents of this Agreement or any Ancillary Agreement), (ii) participate in negotiations with such Offering Party regarding such Superior Proposal or (iii) enter into one or more letters of intent, term sheets or agreements with respect to any Superior Proposals; provided, however, that if Assignor proposes to take any of the actions specified in clause (iii) hereof, Assignor shall give Assignee prior written notice setting forth Assignor's proposed actions. (b) Not later than the close of business on May 12, 1997, Assignor shall require each Offering Party with whom it is still engaged in discussions to submit a final binding offer, subject only to acceptance by Assignor. Not later than the close of business on May 16, 1997, Assignor shall (i) determine whether any such offer constitutes a Superior Proposal, (ii) if there is more than one Superior Proposal, select which Superior Proposal Assignor intends to accept and (iii) provide written notice to Assignee setting forth all the material terms and conditions of such selected Superior Proposal ("SP Notice"). (c) After receipt of the SP Notice, Assignee shall have five (5) days to notify Assignor of its agreement to modify this Agreement and any Ancillary Agreement as necessary to acquire the Transferred Interests at the same price and under the same terms and conditions as set forth in the SP Notice ("Assignee Acceptance Notice"); provided further, however, if under the terms set forth in the SP Notice Assignor is proposing to accept property (other than cash or promissory notes), Assignee shall have the right to substitute cash in an amount equal to the value of such other property. (d) If Assignor does not give an SP Notice to Assignee on or before May 16, 1997, or if Assignee gives an Assignee Acceptance Notice to Assignor in accordance with subsection (c) hereof, neither Assignor nor Assignee shall thereafter have any right to terminate this Agreement pursuant to Section 15(c).

  • Conforming Changes In connection with the use, administration, adoption or implementation of a Benchmark Replacement, the Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document.

  • Additional proposals If the Company at any time during the continuance of this Agreement desires to modify expand or otherwise vary its activities carried on pursuant to this Agreement beyond those specified in any approved proposal, it shall give notice of such desire to the Minister and within 2 months after giving such notice shall submit to the Minister detailed proposals in respect of such modifications expansions or variations and such other matters as the Minister may require. The provisions of clause 4 and 5 (including (for the avoidance of doubt) clause 5(9)) shall apply, the necessary changes being made, to proposals submitted pursuant to this clause.

  • Acquisition Proposal “Acquisition Proposal” shall mean any offer or proposal (other than an offer or proposal made or submitted by Parent) contemplating or otherwise relating to any Acquisition Transaction.

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