A13 CONTRIBUTION Sample Clauses
The A13 CONTRIBUTION clause defines how responsibility for losses, damages, or liabilities is shared among parties involved in an agreement. Typically, this clause outlines the proportion or method by which each party will contribute to covering costs arising from claims, often based on their respective roles or degrees of fault. For example, if multiple parties are jointly liable for a third-party claim, the clause may specify that each party pays a share corresponding to their involvement. Its core function is to allocate risk fairly and prevent one party from bearing an undue share of liability, thereby promoting equitable treatment and reducing disputes over financial responsibility.
A13 CONTRIBUTION. 5.1 Subject to the following provisions of this paragraph 5, LG Park Freehold or LG Park Leasehold will pay a contribution ("the Contribution") to A13 Link 5 or alternative measures to improve capacity or enhance safety on A13 Link 5 upon written demand by TBC.
5.2 TBC may only issue a written demand for the Contribution once TBC has obtained all necessary consents for A13 Link 5 (or the alternative measures) and is in a position to let a construction contract for A13 Link 5 (or the alternative measures).
5.3 The amount of the Contribution will an amount equal to [11.3%] of the cost of the A13 Link 5 (or the alternative measures) but in any event will not exceed the amount of £[ ].
5.4 TBC shall complete A13 Link 5 works or alternative measures within 24 months of the receipt of the Contribution unless otherwise agreed by LG Park Freehold or LG Park Leasehold.
5.5 TBC will repay to LG Park Freehold or LG Park Leasehold any of the Contribution which remains unused or uncommitted for the purposes of this provision at the expiration of the period of 30 months from the receipt of the Contribution, unless otherwise agreed by LG Park Freehold or LG Park Leasehold.
5.6 Subject to Clause 5.7 below at any point in time after a Charging Schedule comes into effect, upon written request of any of the Parties, the Parties shall in good faith seek to agree a variation to this in order to ensure that that the LG Companies are not double-charged in respect of the A13 Link 5 (or alternative measures) and to ensure an equitable amount of contribution (which in any event shall not exceed the Contribution) by the LG Companies.
5.7 If a Charging Schedule comes into effect which sets a differential rate in relation to the Property as a strategic site and which rate reasonably reflects the commitment on the part of the LG Companies to pay the Contribution clause 5.6 above shall not apply.