Common use of Variations due to Adjustment Event Clause in Contracts

Variations due to Adjustment Event. (a) If an Adjustment Event occurs, then Aurizon Network: (i) must notify All Study Funders of the Adjustment Event as soon as reasonably practicable after Aurizon Network becomes aware of the occurrence of the Adjustment Event, such notice to include details of the Adjustment Event as are known by Aurizon Network at the time of the notice; and (ii) may, by notice to All Study Funders, given as soon as reasonably practicable after the full effects of the Adjustment Event have been determined by Aurizon Network, acting reasonably: (A) vary the Target Date by extending it by the period that Aurizon Network considers is reasonable as a result of the Adjustment Event; and/or (B) vary the Target Study Cost by increasing it by the amount that Aurizon Network considers is reasonable as a result of the Adjustment Event, with effect from the date of the notice. (b) A notice given under clause 10.1(a)(ii) must include reasonable details of: (i) the Adjustment Event; and (ii) why Aurizon Network considers that the variation(s) is or are (as applicable) reasonable as a result of the Adjustment Event.

Variations due to Adjustment Event. (a) If an Adjustment Event occurs, then Aurizon Network: (i) must notify All Study Funders each Funding Customer of the Adjustment Event as soon as reasonably practicable after Aurizon Network becomes aware of the occurrence of the Adjustment Event, such notice to include details of the Adjustment Event as are known by Aurizon Network at the time of the notice; and (ii) may, by notice to All Study Funderseach Funding Customer, given as soon as reasonably practicable after the full effects of the Adjustment Event have been determined by Aurizon Network, acting reasonably: (A) vary the Target Date by extending it by the period that Aurizon Network considers is reasonable as a result of the Adjustment Event; and/or (B) vary the Target Study Cost by increasing it by the amount that Aurizon Network considers is reasonable as a result of the Adjustment Event, with effect from the date of the notice. (b) A notice given under clause 10.1(a)(ii9.1(a)(ii) must include reasonable details of: (i) the Adjustment Event; and (ii) why Aurizon Network considers that the variation(s) is or are (as applicable) reasonable as a result of the Adjustment Event.

Variations due to Adjustment Event. (a) If an Adjustment Event occurs, then Aurizon Network: (i) must notify All Study Funders of the Adjustment Event as soon as reasonably practicable after Aurizon Network becomes aware of the occurrence of the Adjustment Event, such notice to include details of the Adjustment Event as are known by Aurizon Network at the time of the notice; and (ii) may, by notice to All Study Funders, given as soon as reasonably practicable after the full effects of the Adjustment Event have been determined by Aurizon Network, acting reasonably: (A) vary the Target Date by extending it by the period that Aurizon Network considers is reasonable as a result of the Adjustment Event; and/or (B) vary the Target Study Cost by increasing it by the amount that Aurizon Network considers is reasonable as a result of the Adjustment Event, with effect from the date of the notice. (b) A notice given under clause 10.1(a)(ii9.1(a)(ii) must include reasonable details of: (i) the Adjustment Event; and (ii) why Aurizon Network considers that the variation(s) is or are (as applicable) reasonable as a result of the Adjustment Event.