Impact Costs definition
Examples of Impact Costs in a sentence
Cost Impact: Costs Expenses Total Original value of the Contract Value of this Change Request New total value of Contract Except as changed herein, all terms and conditions of the Contract remain in full force and effect.
Subcontractor further waives any and all claims against Contractor for damages or additional compensation which is related to, caused or contributed to by delay and/or disruption of Subcontractor's performance, or by any act, omission, or other conduct causing or contributing any Impact Costs and Consequential Damages (including negligent conduct on the part of Contractor or any other person).
The requirement to give such notice in no way shall be deemed to authorize or to furnish entitlement for recovery for Impact Costs and Consequential Damages or for any other form of relief which may be sought by Subcontractor.
The requirement to give such notice in no way shall be deemed to authorize or provide entitlement to recovery for Impact Costs and Consequential Damages or for any other form of relief which may be sought by Subcontractor.
The Excusable Delay Impact Costs shall be memorialized by the MTA and the SI in the form of a Change Order.
Impact Costs shall only be allowed for periods of Excusable Delays that meet the criteria set out in Section 5.16.1 (Availability of Impact Costs) and that (i) are not concurrent with either Non-Excusable Delays or other Excusable Delays that do not give rise to Impact Costs, and (ii) are actually, reasonably, and necessarily incurred and verifiable by appropriate Documentation.
By way of clarification, and not limitation, in no event shall the SI be entitled to Impact Costs attributable to a Concurrent Delay.
The entitlement to Impact Costs or the assessment of Liquidated Damages shall continue to be measured by the contractual Substantial Completion Date and/or contractual Intermediate Milestone Date.
As further set out in Section 5.14.3 (SI Request for Extension of Time Based on Excusable Delay), the SI shall include its calculation of available Impact Costs with any submitted Extension Request (the "Proposed Impact Costs").
The SI's acceptance of either (i) the MTA's payment of applicable Recoverable Lost-Time Costs or Impact Costs (less any amounts that the MTA is entitled to withhold, retain or offset pursuant to these Contract Documents), or (ii) an Excusable Delay Extension, shall serve as a release of the MTA Group from all claims and liability to the SI arising out of the associated Delay-Related SI Remedy.