Permitted Corrections Clause Samples

Permitted Corrections. After the Initial Contribution (and thereafter only assuming there is a positive balance in the Running Balance Calculation as set forth below), any amount by which the Remaining Project P Contingency Amount or Remaining Project S Contingency Amount, as applicable, exceeds the amount of contingency required as calculated using the applicable Required Contingency Percentage, once reviewed and approved by the DOE, is a “Permitted Correction”. In the event of a Permitted Correction, the parties shall adjust any prior Correction by Commitment Condition or Corrective Plan to their mutual satisfaction.