Common use of Cost-Plus Pricing Clause in Contracts

Cost-Plus Pricing. In the event and to the extent A & E Work for a Non-Standard Site exceeds the Work required for a Standard Site, the price for such additional A & E Work will be invoiced on a Cost-Plus Pricing basis in accordance with Section 1.2 (d) above, with the "Cost" portion of such additional A & E work to be determined as follows: (i) Contractor will solicit and provide Owner three (3) competitive firm fixed price bids detailing the scope, pricing and schedule for such additional A & E work and Contractor and Owner will mutually agree as to the bid to accept; or (ii) In the event the competitive bidding process described in paragraph (i) above is not practical, then upon Owner's request, an independent assessment of Contractor's price proposal for such additional A & E work will be conducted by a qualified third party that has been mutually selected by Contractor and Owner (hereinafter referred to as "A & E Consultant"). In the event and to the extent such A & E Consultant rejects Contractor's proposal (in whole or in part), Contractor will revise such proposal in accordance with the A & E Consultant's reasonable determination and resubmit its proposal. In such event, the scope of work, schedule and price for such additional A & E services shall be as reasonably determined by such A&E Consultant. The cost of such A & E Consultant shall be paid by Owner as a Permitted Reimbursable Expense pursuant to Section 1.2 (e) above. (iii) In addition, the provisions of Sections 1.2 (e) and 1.2 (f) above shall apply to any Permitted Reimbursable Expense or Pass-Through Expense, as applicable.