Equitable Adjustment means a fair and reasonable adjustment negotiated by the Parties to;
i. the Contract Price; or
ii. the time within which the Work is to be performed;
Equitable Adjustment means any mutually agreed upon formal change in price, delivery schedule, and/or other provisions of this Agreement to reflect resolution of unforeseen occurrences affecting one or both Parties to this Agreement.
Equitable Adjustment means an adjustment to the Contract Price, Contract Time, or both in consideration of costs or credits when the Contract authorizes such a change.
Examples of Equitable Adjustment in a sentence
Contracting Officer rejection or delay of a proposed change shall not be the basis for a Request for Equitable Adjustment (REA) or subject to the Section I Clause entitled, FAR 52.233-1, Disputes.
Use the clause at 252.243-7002, Requests for Equitable Adjustment, as prescribed in 243.205-71, to comply with 10 U.S.C. 2410.
Should there be a Time Extension granted to the Contractor, the Engineer may provide an Equitable Adjustment for additional Contract Progress Schedule Updates at intervals directed by the Engineer.
The Contractor will only be entitled to an Equitable Adjustment if the Project falls within the geographic boundaries prescribed under the disaster declaration.” 109.7.2 Basis of Payment Replace with the following: “Adjustments will be established by mutual Agreement based upon Unit or Lump Sum Prices.
Landlord may incorporate the Equitable Adjustment in its estimates of Operating Costs.
More Definitions of Equitable Adjustment
Equitable Adjustment means relief in terms of cost, schedule or contract terms.
Equitable Adjustment as used in this clause, means a fair and reasonable adjustment under the facts and circumstances of the particular situation, in the Contract price, delivery schedules and/or any other Contract provisions that are altered by the change, as applicable, plus the cost of any work, deliverables or other project requirements that will be added or deleted in connection with the change. The term, "equitable adjustment" in this context includes the costs of, and a reasonable profit for, the changed work/requirements, including the associated engineering, testing, project management and documentation.
Equitable Adjustment means a reasonable and equitable adjustment to the Contract price to take into consideration the additional Direct Costs incurred by the Contractor, together with a reasonable amount of Contractor's overhead and profit determined under the circumstances. Notwithstanding the foregoing, Equitable Adjustment shall not in any circumstance take into consideration any lost opportunity cost or lost opportunity profits unrelated to this Contract. Further, the Contract Form may provide for a fixed percentage of the Direct Costs, which will be used in lieu of overhead and profit for purposes of determining the Equitable Adjustment. Nothing in this Section shall preclude the Contractor and the District from mutually agreeing to alternate forms of price adjustment, such as time and materials or cost-not-to-exceed basis.
Equitable Adjustment means an adjustment in the contract price, delivery schedule or other terms of the contract arising out of the issuance of a Change Order.
Equitable Adjustment means the execution, during calendar year 2009, of an agreement with the U.S. government that provides for a permanent increase in the Company’s operation and maintenance fees at Old North Utility Services (Fort Bragg) to recognize that the Company is managing more inventory than was included in the government’s initial request for proposal.
Equitable Adjustment means, with respect to a particular event necessitating an adjustment in the Contract where an Equitable Adjustment is provided for, a reasonable good faith adjustment to the terms of this Contract, including price, schedules, payment schedules, delivery dates, and termination liability to the extent related to the Work caused by such particular event. The adjustments shall either be agreed to by the Parties in accordance with the terms of this Contract (including the incorporation in a Contract Amendment in accordance with Article 37.5) or as determined in accordance with Article 25. [*]
Equitable Adjustment means that the Operator and the Agreement Administrator shall reasonably agree to an equitable adjustment to the Retention Payments to the extent a Change in Law impacts Operator’s ability to materially meet the Retention Payments due under this Agreement and materially impacts Operator’s costs or revenues, provided that no earlier than sixty (60) days after the date the Change in Law becomes officially known to Operator or thirty (30) days from the effective date of the Change in Law, Operator shall notify the Agreement Administrator in writing of the Change in Law and request an Equitable Adjustment with a proposed amount based on a description, an analysis, and evidence available of the impact of the Change in Law, including projections based on reasonably available information which may consider in part market return, which evidence shall be included in the request and include an adjustment proposal. Operator shall also include a plan demonstrating good faith efforts to mitigate the negative impact of the Change in Law and make alternative use of JRB within the confines of this Agreement to meet the Retention Payment schedule attached hereto as Exhibit E (“Alternative Revenue Generating Plan”), which shall be reviewed and approved by Agreement Administrator (“Approved Alternative Revenue Generating Plan”) which approval shall not be unreasonably withheld, conditioned or delayed. At all times after receipt of the Equitable Adjustment request, Agreement Administrator may ask for reasonable additional information regarding the request and the Alternative Revenue Generating Plan. Upon approval of the Alternative Revenue Generating Plan or as agreed to by both parties, Operator shall implement the Approved Alternative Revenue Generating Plan for a minimum of six (6) months, and during such time, Operator shall provide monthly reports and evidence demonstrating material impact on revenues collected and Operator’s good faith efforts to mitigate the impact of the Change in Law. At all times during the Equitable Adjustment review period (“Equitable Adjustment Review Period”), the City shall have the right to reasonably request additional information regarding the claim of negative impact of the Change in Law and success of the Approved Alternative Revenue Generating Plan. At the end of the Equitable Adjustment Review Period, Operator shall provide an updated report demonstrating its failure to mitigate the impact of the Change in Law despite good faith efforts ...