Compensation Event definition

Compensation Event means any of the following events or circumstances if and to the extent that it interferes adversely with, or causes a failure of, the carrying out of the Design, the Construction or the Services, causes an Unavailability Event or causes Direct Losses to Project Co or any Project Co Person:

Compensation Event means any of the following:

Compensation Event means any material breach by the Buyer of any of its obligations under this Agreement including any failure to make any payments due and payable to the Seller on the due date for payment, to the extent in each case that the breach is not caused or contributed to by the Seller or any Contractor or by Force Majeure, a System Event or Unforeseeable Conduct;

Examples of Compensation Event in a sentence

• Any action taken by the City pursuant to this Section 3.18 is not a Compensation Event or an Adverse Action.

• Any action taken by the City pursuant to this Section 4.5 is not an Adverse Action and is not a Compensation Event.

• Any change in Revenue Value (other than as set forth in Section 7.1 with respect to the Initial Schedule of Parking Fees) is not a Compensation Event and will not result in Concession Compensation.

• The amount of the convenience fee, the minimum required credit amount and the minimum deposit amount may be Adjusted for Inflation on an annual basis, subject to approval by the City Council; provided, however, that the failure to make such adjustments shall constitute a Compensation Event; provided further that Concession Compensation shall be limited to the amount of such adjustments during the period such adjustments were not made.

• The Concessionaire acknowledges and agrees that the adjudication of parking violations and the punishment of violators is a judicial or quasi-judicial matter and that the outcome of such adjudications (and the methods employed by the City with respect thereto) and the punishments, if any, imposed, may not be compensated for under this Agreement and will not give rise to a Compensation Event or result in Concession Compensation in any event.

More Definitions of Compensation Event

Compensation Event has the meaning given in Clause 29.10;

Compensation Event means any event referred to in Sections 22.1(a)(i), 22.1(a)(ii), 22.1(a)(iii), 22.1(a)(iv), 22.1(a)(v), 22.1(a)(vi) and 22.1(a)(vii), as a direct result of which Project Co has incurred loss or expense.

Compensation Event shall have the meaning provided in Section 2(c)(i).

Compensation Event means the Concessionaire’s compliance with or the implementation of any City Directive or any modified or changed Operating Standard subject to Section 6.3(b), the occurrence of an Adverse Action or the occurrence of any other event that under the terms of this Agreement explicitly requires the payment of Concession Compensation, including under Section 3.12(c), Section 6.3(b), Section 7.1 and Section 7.6.

Compensation Event. COMPLETION CERTIFICATE"; "CONFIDENTIAL INFORMATION"; "DELAY EVENT"; "DEPARTMENT'S CHANGE IN SPECIFICATION"; "DEPARTMENT'S WORKS CHANGE"; "DESIGN DATA"; "ELIGIBLE CHANGE"; "GOOD INDUSTRY PRACTICE"; "IMPROVEMENT"; "LATENT DEFECTS"; "LEASE"; "NEW ROAD"; "PENALTY POINTS"; "PROJECT ROAD"; "RETENTION ACCOUNT"; "SAFETY IMPROVEMENT"; "SECTION"; "SITE"; "SUBSEQUENT SCHEME"; "TERMINATION ACCOUNTS"; "TERMINATION DATE"; "TERMINATION EVENT"; "TRAFFIC DATA"; "WARNING NOTICE"; "WORKS"; AND "WORKS PROGRAMME".

Compensation Event has the meaning given in Clause 7.1.1. "Defaulting User" has the meaning given in Clause 7.1.1.

Compensation Event means an occurrence that causes the contractor to be entitled to be paid compensation due to a situation where the scope of works is changed or the contractor has been stopped from working due to a cause other than his own.