Common use of Increase in Cost Clause in Contracts

Increase in Cost. 1.1 If as a result of Change in Law, the Concessionaire is obliged to incur additional capital expenditure and/or the additional operating costs or both, as the case may be, for operation, management and/ or implementation of the Project in excess of Rs. [insert amount] (Rupees [insert amount]) the Concessionaire may so notify the Concessioning Authority and upon notice by the Concessionaire, the Parties shall meet, as soon as reasonably practicable but no later than 15 (fifteen) days from the date of notice and mutually agree on an arrangement that would restore the Concessionaire to the same economic position as if such Change in Law has not occurred. In case the Parties do not mutually agree on an arrangement, a committee of 3 (three) members will be found (1 (one) member from the Concessioning Authority, 1 (one) member from Concessionaire, and 1 (one) member to be mutually agreed by the Parties) and the decision of this committee on this matter shall be final and binding on both the Parties.

Increase in Cost. 1.1 29.1.1 If as a result of Change in Law, the Concessionaire is obliged to incur additional capital expenditure and/or the additional operating costs or both, as the case may be, for operation, management and/ or implementation of the Project in excess of Rs. [insert amount] (Rupees [insert amount]) the Concessionaire may so notify the Concessioning Authority authority and upon notice by the Concessionaire, the Parties shall meet, as soon as reasonably practicable but no later than 15 30 (fifteenthirty) days from the date of notice and mutually agree on an arrangement that would restore the Concessionaire to the same economic position as if such Change in Law has not occurred. In case the Parties do not mutually agree on an arrangement, a committee of 3 (three) members will be found (1 (one) member from the Concessioning Authorityauthority, 1 (one) member from Concessionaire, and 1 (one) member to be mutually agreed by the Parties) and the decision of this committee on this matter shall be final and binding on both the Parties. 29.1.2 For the avoidance of doubt, it is agreed that this Clause 29.1.1 shall be restricted to Changes in Law directly affecting the Concessionaire’s costs of performing its obligations under this Agreement.

Increase in Cost. 1.1 29.1.1 If as a result of Change in Law, the Concessionaire Lessee is obliged to incur additional capital expenditure and/or the additional operating costs or both, as the case may be, for operation, management and/ or implementation of the Project in excess of Rs. [insert amount] (Rupees [insert amount]) the Concessionaire Lessee may so notify the Concessioning Authority Lessor and upon notice by the ConcessionaireLessee, the Parties shall meet, as soon as reasonably practicable but no later than 15 30 (fifteenthirty) days from the date of notice and mutually agree on an arrangement that would restore the Concessionaire Lessee to the same economic position as if such Change in Law has not occurred. In case the Parties do not mutually agree on an arrangement, a committee of 3 (three) members will be found (1 (one) member from the Concessioning AuthorityLessor, 1 (one) member from ConcessionaireLessee, and 1 (one) member to be mutually agreed by the Parties) and the decision of this committee on this matter shall be final and binding on both the Parties. 29.1.2 For the avoidance of doubt, it is agreed that this Clause 29.1.1 shall be restricted to Changes in Law directly affecting the Lessee’s costs of performing its obligations under this Agreement.