Examples of Supervening Event in a sentence
Nothing in this Agreement will limit the right of the Authority to perform or mitigate its obligations in respect of Supervening Events or the consequences of a Supervening Event by requiring a Change or Changes.
Pursuant to the C-70 Project Agreement, commencing in the First payment month following the Substantial Completion Date, the Enterprises are required to pay Performance Payments (comprised of a Capital Performance Payment and an OMR Payment) to Developer in consideration of Work performed by Developer, and may be required to pay Compensation to the Developer in relation to a Supervening Event.
Pursuant to the C-70 Project Agreement, the Enterprises (i) are required to pay Milestone Payments to the Developer in consideration of Work performed by Developer up to and including Substantial Completion; (ii) may be required to pay Compensation to the Developer in relation to a Supervening Event; and (iii) may be required to make certain incentive payments to the Developer upon achievement of workforce participation goals.
Developer shall have no claim to a Supervening Event on account of any incompleteness or inaccuracy in the Reference Documents.
The Developer shall, however, subject to the Supervening Event provisions hereof, bear all risk of loss concerning such structures, improvements, fixtures, machinery, equipment and materials until Substantial Completion, regardless of the extent to which the loss was insured or the availability of Insurance Proceeds.