Future Costs Clause Samples
The "Future Costs" clause defines how expenses that arise after the execution of an agreement, but are related to its subject matter, will be handled between the parties. Typically, this clause specifies which party is responsible for covering such costs, outlines any limitations or approval processes, and may provide examples such as maintenance, upgrades, or unforeseen regulatory fees. Its core practical function is to allocate financial responsibility for future, potentially unpredictable expenses, thereby reducing disputes and ensuring clarity regarding ongoing obligations.
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Future Costs. The Company shall pay to the City or to third parties, at the direction of the City, an amount equal to the reasonable out-of pocket costs and expenses which the City incurs for the services of third parties (including but not limited to attorneys and other consultants) in connection with any Company-initiated renegotiation, transfer, amendment or other modification of this Agreement or the franchise granted hereunder. Before any work subject to such reimbursement is performed, the City will advise the Company that the City will be incurring the services of third parties pursuant to the preceding sentence. The Company expressly agrees that the payments made pursuant to this Section 7.2.2 are in addition to and not in lieu of, and shall not be offset against, the compensation to be paid to the City by the Company pursuant to Section 7.1 hereof or any other amount that may be payable to the City.
Future Costs. The Company shall pay to the City or to third parties, at the direction of the Commissioner, an amount equal to the reasonable costs and expenses which the City incurs for the services of third parties (including but not limited to attorneys and other consultants) in connection with any renewal or Company initiated renegotiation, transfer, amendment or other modification of this Agreement or the franchise, provided, however, that in the case of renewal only, the parties shall agree upon a reasonable financial cap at the outset of negotiations. However, in the event the City brings any action for termination or for enforcement of this Agreement against the Company and the Company finally prevails, then the Company shall have no obligation to reimburse the City or pay any sums directly to third parties, at the direction of the City, pursuant to this Section with respect to such termination or enforcement. In the event the Company contests the charges, it shall pay any uncontested amounts. The Commissioner shall review the contested charges and the services rendered and shall reasonably determine whether such charges are reasonable for the services rendered. The Company expressly agrees that the payments made pursuant to this Section 7.2 are in addition to and not in lieu of, and shall not be offset against, the compensation to be paid to the City by the Company pursuant to Section 7.1 hereof.
Future Costs. Company shall pay to City or to third parties, at the direction of City, an amount equal to the reasonable costs and expenses which City incurs for the services of third parties (including but not limited to attorneys and other consultants) in connection with any renewal or Company-initiated renegotiation, transfer, amendment or other modification of this Agreement or the franchise, provided, however, that in the case of renewal only, the parties shall agree upon a reasonable financial cap at the outset of negotiations. However, in the event City brings any action for termination or for enforcement of this Agreement against Company and Company finally prevails, then Company shall have no obligation to reimburse City or pay any sums directly to third parties, at the direction of City, pursuant to this Section with respect to such termination or enforcement. In the event Company contests the charges, it shall pay any uncontested amounts. City shall review the contested charges and the services rendered and shall reasonably determine whether such charges are reasonable for the services rendered. Company expressly agrees that the payments made pursuant to this Section 7.2 are in addition to and not in lieu of, and shall not be offset against, the compensation to be paid to City by Company pursuant to Section 7.1 hereof.
Future Costs. A provider shall pay to the City or to third parties, at the direction of the City, an amount equal to the reasonable costs and reasonable expenses that the City incurs for the services of third parties (including, but not limited to, attorneys and other consultants) in connection with any renewal or provider-initiated renegotiation, or amendment of this Chapter or a franchise; provided, however, that the parties shall agree upon a reasonable financial cap at the outset of negotiations. In the event the parties are unable to agree, either party may submit the issue to binding arbitration in accordance with the rules and procedures of the American Arbitration Association.
Future Costs. 20 7.3 No Credits or Deductions ................................ 20
Future Costs. The Company shall pay to the City or to third parties, at the direction of the commissioner, an amount equal to the reasonable costs and expenses which the City incurs for the services of third parties (including but not limited to attorneys and other consultants) in connection with any renewal or Company-initiated renegotiation, transfer, amendment or other modification of this Agreement or the franchise, provided, however, that in the case of renewal only, the parties shall agree upon a reasonable financial cap at the outset of negotiations. The Commissioner shall review the contested charges and the services rendered and shall reasonably determine whether such charges are reasonable for the services rendered. The Company expressly agrees that the payments made pursuant to this Section 7.2 are in addition to and not in lieu of, and shall not be offset against, the compensation to be paid to the City by the Company pursuant to Section 7.1 hereof.
Future Costs. As of the Effective Date hereof, the Assignee shall be liable for and pay the future costs relating to obtaining and maintaining the rights forming part of the Intellectual Property, including, without limitation, all patent costs.
Future Costs. The Parties acknowledge and agree that the budget for development activities and any other activities relating to the preparation and implementation of the LTO that will be undertaken (or for which costs and expenses will be incurred) after execution of the Transaction Documents will be set out in the Transaction Documents, and such budget is not covered by this Agreement.
Future Costs. Each Seller and Purchaser agree that the Future Costs Reserve Amount allocable to each Seller shall be deducted from the Total Share Consideration otherwise allocable to such Seller, as provided in Section 2.1(b) and Schedule A. The Parties agree that the Future Costs Reserve Amount, together with the assets set forth on Schedule D, shall be used to pay the obligations listed on Schedule D and any other costs and expenses of Nautilus Technical and Eastern Rider accrued during the period prior to the Effective Date. Unpaid expenses set forth on Schedule D shall be paid promptly following the Closing Date. Any amount of the Future Costs Reserve Amount that is not needed to pay the foregoing amounts prior to December 31, 2011 shall on such date be reimbursed to the Sellers, pro rata in accordance with the percentage of the Future Costs Reserve Amount funded by each Seller.
Future Costs. Respondent may initiate the procedures of Section XV (Dispute Resolution) regarding payment ofany Future Response Costs billed under Paragraph 42 (Payments for Future Response Costs) if it detennines that U.S. EPA has made a mathematical error or included a cost item that is not within the definition of Future Response Costs, or if it believes U.S. EPA incurred excess costs as a direct result of a U.S. EPA action that was inconsistent with a specific provision or provisions of the NCP. To initiate such dispute, Respondent shall submit a Notice of Dispute in writing to the RPM/OSC within 60 clays after receipt ofthe bill. Any such Notice of Dispute shall specifically identify the contested Future Response Costs and the basis for objection. If Respondent submits a Notice of Dispute, Respondent shall within the 60-day period, also as a requirement for initiating the dispute, (a) pay all uncontested Future Response Costs to U.S. EPA in the manner described in Paragraph 42, and (b) establish, in a duly chartered bank or trust company, an interest-bearing escrow account that is insured by the Federal Deposit Insurance Corporation ("FDIC") and remit to that escrow account funds equivalent to the amount of the contested Future Response Costs. Respondent shall send to the RPM/OSC a copy of the transmittal ▇▇▇▇▇▇ and check paying the uncontested Future Response Costs, and a copy of the conespondence that establishes and funds the escrow account, including, but not limited to, information containing the identity of the bank and bank account under which the escrow account is established as well as a bank statement showing the initial balance of the escrow account. If U.S. EPA prevails in the dispute, within 5 days after the resolution of the dispute, Respondent shall pay the sums due (with accmed interest) to U.S. EPA in the manner described in Paragraph 42. If Respondent prevails concerning any aspect of the contested costs, Respondent shall pay that pmiion of the costs (plus associated accrued interest) for which they did not prevail to U.S. EPA in the manner described in Paragraph 42. Respondent shall be disbursed any balance of the escrow account. The dispute resolution procedures set forth in this Paragraph in conj unction with the procedures set fo1ih in Section XV (Dispute Resolution) shall be the exclusive mechanisms for resolving disputes regarding Respondent's obligation to reimburse U.S. EPA for its Future Response Costs.