Compensation Event definition

Compensation Event means any of the following events or circumstances if and to the extent that it interferes adversely with, or causes a failure of, the carrying out of the Design, the Construction or the Services, causes an Unavailability Event or causes Direct Losses to Project Co or any Project Co Person:

Compensation Event means any of the following:

Compensation Event means any material breach by the Buyer of any of its obligations under this Agreement including any failure to make any payments due and payable to the Seller on the due date for payment, to the extent in each case that the breach is not caused or contributed to by the Seller or any Contractor or by Force Majeure, a System Event or Unforeseeable Conduct;

Examples of Compensation Event in a sentence

• If approval is subject to the sole, absolute or unfettered discretion of TxDOT, then its decision shall be final, binding and not subject to dispute resolution, and such decision shall not constitute a TxDOT-Caused Delay, TxDOT Change, Relief Event, Compensation Event or other basis for any Claim.

• Developer shall have no claim for a Relief Event or Compensation Event by reason of TxDOT’s grant of access permits, the terms and conditions thereof, or the actions of permit holders or their employees, agents, representatives and invitees.

• Subject to Section 6.2.12, Developer’s right to a Relief Event and Compensation Event for a TxDOT- Caused Delay under clause (g) of the definition of TxDOT-Caused Delay and Developer’s right to terminate under Section 19.14, Developer shall obtain all other Governmental Approvals required in connection with the Project, the Project Right of Way or the Work, including any modifications, renewals and extensions of the TxDOT-Provided Approvals, including those required in connection with a Compensation Event.

• Developer shall obtain all other Governmental Approvals required in connection with the Project, the Project Right of Way or the Work, including any modifications, renewals and extensions of the TxDOT- Provided Approvals, including those required in connection with a Compensation Event.

• Developer shall have no claim for a Relief Event, Extended Relief Event or Compensation Event by reason of TxDOT’s grant of access permits, the terms and conditions thereof, or the actions of permit holders or their employees, agents, representatives and invitees.

More Definitions of Compensation Event

Compensation Event has the meaning given in Clause 22.9

Compensation Event means any event referred to in Sections 22.1(a)(i), 22.1(a)(ii), 22.1(a)(iii), 22.1(a)(iv), 22.1(a)(v), 22.1(a)(vi) and 22.1(a)(vii), as a direct result of which Project Co has incurred loss or expense.

Compensation Event means the Concessionaire’s compliance with or the implementation of any Directive or any modified or changed Operating Standard subject to Section 6.3(b), the occurrence of an Adverse Action or the occurrence of any other event that under the terms of this Agreement requires the payment of Concession Compensation.

Compensation Event shall have the meaning provided in Section 2(c)(i).

Compensation Event. COMPLETION CERTIFICATE"; "DBFO CO'S WORKS CHANGE"; "DEPARTMENT'S CHANGE IN SPECIFICATION"; "DEPARTMENT'S WORKS CHANGE"; "DELAY EVENT"; "ELIGIBLE CHANGE"; "GOOD INDUSTRY PRACTICE"; "IMPROVEMENT"; "LATENT DEFECT"; "LEASE"; "PENALTY POINTS"; "PERMIT TO USE"; "PROJECT ROAD"; "RETENTION ACCOUNT"; "SAFETY IMPROVEMENT"; "SECTION", "SITE"; "SUBSEQUENT SCHEME"; "TERMINATION ACCOUNTS"; "TERMINATION EVENT"; "WARNING NOTICE"; "WORKS PROGRAMME"; and "WORKS";

Compensation Event means an occurrence that causes the contractor to be entitled to be paid compensation due to a situation where the scope of works is changed or the contractor has been stopped from working due to a cause other than his own.

Compensation Event means the occurrence of any of the following events or circumstances, the response to which or compliance with which materially expands the scope of or materially interferes with, delays, or increases the cost of performing the Contract Services: