Examples of Siemens Contract in a sentence
As the Work is performed, conditions may change or circumstances outside Siemens' reasonable control, including without limitation, changes of Applicable Law and Buyer Caused Delays, may develop which would require Siemens to expend additional costs, effort or time to complete the Work, in which case Siemens will notify Buyer and an equitable adjustment will be made to Siemens' Contract Price and Work Schedule pursuant to Article 8.
That portion of the Contract Price set forth in the foregoing sentence to be paid based upon Siemens Equipment Payment Milestones corresponds to the payment milestones and progress payments to be made by Contractor to Siemens under the Siemens Contract and contains no further costs, expenses, markups, profit, overhead or other expenditures.
The Parties agree that (i) amounts paid by Owner to Contractor pursuant to the MOU shall be credited towards the EPC Payment Milestone portion of the Contract Price and (ii) amounts paid by Owner to Siemens prior to assignment of the Siemens Contract to Contractor pursuant to Section 22.8 shall be credited towards the Siemens Equipment Payment Milestone portion of the Contract Price.
No later than thirty (30) Days after the date Owner issues NTP, Contractor shall submit to Owner for its review and written approval, a Work-specific quality control and quality assurance plan and an inspection plan, including witness points, shop inspections and shop tests (including those inspections, tests and witness points provided under the Siemens Contract for the Siemens Equipment).
Without limiting the foregoing in any way, after taking assignment of the Siemens Contract, Contractor shall not enter into any change orders or amendments, or otherwise waive or modify any rights of Contractor or obligations of Siemens, under the Siemens Contract without Owner’s prior written approval (such approval not to be unreasonably withheld).
Without in anyway altering the rights, obligations and remedies set forth in this Agreement, the Parties acknowledge that they will reasonably cooperate in the timing of the receipt and review of Invoices and coordinate same with invoices received by Contractor under the Siemens Contract with the view to have payment milestones that are properly earned and invoiced under the Siemens Contract included as a Siemens Equipment Payment Milestone in the Invoice under this Agreement in the corresponding Month.
As such, on the Effective Date and concurrently with the execution of this Agreement, Contractor shall take assignment of the Siemens Contract (including the Siemens Corporation parent guarantee) from Owner and assume all responsibilities, obligations and liabilities thereto, including being bound by all releases, limitations of liability, indemnities and other protections afforded to Siemens under the Siemens Contract.
Contractor shall provide Owner a proposed list of witness points for each item of Equipment for Owner’s review and prior written approval no later than thirty (30) Days’ after placement of the applicable Subcontract for such item of Equipment (or, with respect to the Siemens Contract, thirty (30) Days after the Effective Date), and Owner shall notify Contractor which of the witness points it or its Lenders’ representatives wish to witness.
A change in buying behaviour may require an undertaking to change the sales methodology used by the company.
Contractor acknowledges that one of Owner’s primary considerations in entering into this Agreement with Contractor is Contractor’s willingness to be fully responsible for, and assume all liabilities arising out of, the Siemens Contract and the work performed by Siemens thereunder.