Amount of Termination Settlement Sample Clauses

Amount of Termination Settlement. Design-Builder and Department shall negotiate in good faith to reach agreement on the settlement amount to be paid to Design-Builder by reason of the termination of Work pursuant to this Article 8 and any such settlement shall be subject to the provisions of the Code of Virginia §2.2-514. Such negotiated settlement shall include an allowance for profit solely on Work that has been performed as of the termination date. Such agreed amount or amounts payable for the terminated Work, exclusive of demobilization costs and other shut-down costs, shall not exceed the total Contract Price as reduced by the Contract Price of Work not performed. Upon determination of the settlement amount, this Agreement will be amended accordingly, and Design-Builder will be paid the agreed amount as described in this Section 8.5. Department’s execution and delivery of any settlement agreement shall not be deemed to affect any of its rights with respect to compliance of the Work which has achieved Substantial Completion with all applicable Contract requirements or any of its rights under payment and performance bonds or any of its rights against Subcontractors.
Sample 1Sample 2Sample 3See All (10)
AutoNDA by SimpleDocs
Amount of Termination Settlement. Contractor and Owner shall negotiate in good faith to reach agreement on the settlement amount to be paid to Contractor by reason of the termination of Work pursuant to this Article 27. Such negotiated settlement shall include an allowance for profit solely on Work which has been performed as of the termination date. With the exception of demobilization costs, termination penalties and other shut-down costs recoverable by Contractor under this Contract, such agreed amount or amounts payable for the terminated Work shall not exceed the total Contract Price after adjustment to account for the Contract Price of Work not performed. Upon determination of the settlement amount this Contract will be amended accordingly, and Contractor will be paid the agreed amount as described in this Section 27.5. Owner’s execution and delivery of any settlement agreement shall not be deemed to affect any of its rights with respect to completed Work, relieve Contractor from its obligations with respect thereto, or affect Owner’s rights under the Performance Bond, or any of its rights against Subcontractors.
Sample 1Sample 2Sample 3See All (5)
Amount of Termination Settlement. Design-Builder and Department shall negotiate in good faith to reach agreement on the settlement amount to be paid to Design-Builder by reason of the termination of Work pursuant to this Article 8. Such negotiated settlement shall include an allowance for profit solely on Work that has been performed as of the termination date. Such agreed amount or amounts payable for the terminated Work shall not exceed (i) the total Contract Price, as reduced by the value of the Work not performed, plus (ii) Demobilization Costs. Upon determination of the settlement amount, this Agreement will be amended accordingly, and Design-Builder will be paid the agreed amount as described in this Section 8.5. Department’s execution and delivery of any settlement agreement shall not be deemed to affect any of its rights with respect to compliance of the Work which has achieved Final Completion with all applicable requirements of the Contract Documents or any of its rights under payment and performance bonds or any of its rights against Subcontractors.
Sample 1Sample 2See All (5)
Amount of Termination Settlement. Design-Builder and Department shall negotiate in good faith to reach agreement on the settlement amount to be paid to Design- Builder by reason of the termination of Work pursuant to this Article 8 and any such settlement shall be subject to the provisions of the Code of Virginia §2.2-514. Such negotiated settlement shall include an allowance for profit solely on Work that has been performed as of the termination date. Such agreed amount or amounts payable for the terminated Work, exclusive of demobilization costs and other shut-down costs, shall not exceed the total Contract Price as reduced by the Contract Price of Work not performed. Upon determination of the settlement amount, this Agreement will be amended accordingly, and Design-Builder will be paid the agreed amount as described in this
Sample 1Sample 2
Amount of Termination Settlement. 83 16.8 No Agreement as to Amount of Claim. 83 16.9 Reduction in Amount of Claim 83 16.10 Preservation of Records. 83 16.11 Alamo RMA’s Unilateral Right to Issue NTPs. 84 17. DEFAULT. 84 17.1 Default of Design/Builder. 84 17.2 Remedies. 86 17.3 Failure to Comply Caused by Delay Event. 88
Sample 1
Amount of Termination Settlement. Subject to the provisions of Section 16.6, Design/Builder and the Alamo RMA may agree upon the amount to be paid to Design/Builder by reason of the total or partial termination of Development Work pursuant to this Section 16. Such negotiated settlement may include a reasonable allowance for profit solely on Development Work which has been completed and accepted by the Alamo RMA as of the termination date. Such agreed amount, exclusive of settlement costs, shall not exceed the Development Price less the amount of payments previously made to Design/Builder and less the portions of the Development Price related to Development Work not terminated; provided, however, that if a termination occurs prior to issuance by the Alamo RMA of the NTP, no amount shall be payable to Design/Builder. Upon determination of the settlement amount, Design/Builder will be paid the agreed amount and this Agreement will be amended accordingly to implement the partial or total termination. The Alamo RMA’s execution and delivery of any settlement agreement shall not affect any of its rights under the Contract Documents with respect to completed Development Work, relieve Design/Builder from its obligations with respect thereto, including Warranties, or affect the Alamo RMA’s rights under the Performance Bonds and/or the Payment Bonds.
Sample 1
Amount of Termination Settlement. (i) Subject to clause (e)(ii) below, Contractor and Concessionaire shall negotiate in Good Faith to reach agreement on the settlement amount to be paid to Contractor by reason of the termination of Work pursuant to this Section 12.1 and any such settlement shall be subject to the dispute resolution provisions of Section 11. Such negotiated settlement shall include a reasonable allowance for profit solely on Work that has been performed as of the termination date. Such amount or amounts payable for the terminated Work, exclusive of demobilization costs, breakage costs and other shut-down costs, shall be the lesser of (x) the total Contract Price as reduced by the Contract Price of Work not performed and (y) any amount or amounts agreed upon by the Parties. Upon determination of the settlement amount, this Contract will be amended accordingly, and Contractor will be paid the agreed amount as described in this Section 12.1(e). Concessionaire’s execution and delivery of any settlement agreement shall not be deemed to affect any of its rights with respect to compliance of the Work or any components of the Work which has achieved Final Completion, with all applicable Contract requirements, or any of its rights under payment and performance bonds or any of its rights against Subcontractors.
Sample 1
AutoNDA by SimpleDocs

Related to Amount of Termination Settlement

  • Payment of Termination Payment The Defaulting Party shall make the Termination Payment within ten (10) Business Days after such notice is effective, regardless whether the Termination Payment calculation is disputed. If the Defaulting Party disputes the Non-Defaulting Party’s calculation of the Termination Payment, in whole or in part, the Defaulting Party shall within ten

  • Events of Termination Subject to Section 6.4 below, this Agreement will terminate as to a Fund:

  • Calculation of Termination Payment If an Early Termination Date has been declared, the Non-Defaulting Party shall calculate, in a commercially reasonable manner, the Termination Payment in accordance with this Section 10.3.

  • Early Contract Termination The State may terminate this contract in whole or in part by giving fifteen (15) days written notice to the Purchaser when it is in the best interests of the State. If this contract is so terminated, the State shall be liable only for the return of that portion of the initial deposit that is not required for payment, and the return of unapplied payments. The State shall not be liable for damages, whether direct or consequential.

  • Term Termination 8.1 This Agreement shall be effective as of the date hereof and shall continue in force until terminated in accordance with the provisions herein.

  • Termination Events This Agreement may, by notice given prior to or at the Closing, be terminated:

  • Contents of Termination Notice A Termination Notice shall specify:

  • Gross Settlement Amount Except as otherwise provided by Paragraph 8 below, Defendant promises to pay $290,000.00 and no more as the Gross Settlement Amount and to separately pay any and all employer payroll taxes owed on the Wage Portions of the Individual Class Payments. Defendant has no obligation to pay the Gross Settlement Amount (or any payroll taxes) prior to the deadline stated in Paragraph 4.3 of this Agreement. The Administrator will disburse the entire Gross Settlement Amount without asking or requiring Participating Class Members or Aggrieved Employees to submit any claim as a condition of payment. None of the Gross Settlement Amount will revert to Defendant.

  • TERMINATION AND CONSEQUENCES OF TERMINATION 14.1 On termination of any Service Schedule for whatever reason the Client will cease to have the Services provided thereunder.

  • Notice of Termination Payment As soon as practicable after calculation of a Termination Payment, notice shall be given by the Non-Defaulting Party to the Defaulting Party of the amount of the Termination Payment and whether the Termination Payment is due to or due from the Non-Defaulting Party. The notice shall include a written statement explaining in reasonable detail the calculation of such amount. Subject to Section 5.4(b) above, the Termination Payment shall be made by the Party that owes it within three (3) Business Days after such notice is effective.

Time is Money Join Law Insider Premium to draft better contracts faster.