Examples of Compensation Event Notice in a sentence
Within 90 days after receiving a Compensation Event Notice and the supporting documentation required by Section 6.06(a)(i) (Compensation Events), the Department will provide to the Commission a copy of such reports as it has elected to obtain.
If the Department disagrees with the entitlement to or amount of Commission Damages claimed by the Commission, the Commission and Department will commence good faith negotiations to resolve the dispute within 100 days after the delivery of the Compensation Event Notice.
The Compensation Event Notice shall set forth (i) the Compensation Event and its date of occurrence in reasonable detail, and (ii) the amount claimed as the Concessionaire Damages or as Positive Revenue, as applicable, and details of the calculation thereof including a written analysis and calculation of the estimated Net Cost Impact, if any, and estimated Net Revenue Impact.
Based on the CA Compensation Event Notice submitted by Contractor and such other information provided by Contractor pursuant to this Section 12.6.1.1 Concessionaire shall submit a “CA Compensation Event Notice” to Department, and seek the Department’s approval, under Section 14.01(a)(i) of the Comprehensive Agreement with respect to the CA Compensation Event claimed by Contractor.
Compensation Event Notice is defined in Section 14.01(a) of the Agreement.
There are some inherent difficulties with this approach in that, if a Project Manager accepts that a Compensation Event has occurred, then this is followed by a quotation containing not only the additional costs which the Contractor will incur, but also the delay to the Key Dates and the Completion Date – this may be impossible to do in current circumstances but in view of the potential Compensation Event Notice is given late, I think the advice should be to give Notice as soon as possible.
If, for any reason, Contractor fails to deliver such CA Compensation Event Notice within such fifteen (15) day period, Contractor will be deemed to have irrevocably and forever waived and released any Claim or right to an adjustment to the Contract Sum or other adverse effects on costs, expenses and liabilities attributable to such CA Compensation Event.
The latter constituent is also briefly discussed for our survey galax- ies in the following section.
Compensation Event Notice means the written notice submitted by Developer in accordance with Section 13.2 of the Agreement.
Concessionaire shall submit a “Compensation Event Notice” to the Department under Section 14.01(a)(i) of the Comprehensive Agreement based on the CA Compensation Event Notice submitted by Contractor and such other information provided by Contractor pursuant to this Section 12.6.1.1 and thereafter assert its rights under the Comprehensive Agreement with respect to the CA Compensation Event claimed by Contractor.