Procedure For Variation Clause Samples

Procedure For Variation. 5.8.5.1 In the event of either party seeking a variation of the fixed fee, such party shall give written notice to the other of the proposed variation, which notice shall contain a detailed motivation as to the basis upon which the variation is requested. 5.8.5.2 The party receiving the notice shall reply within 30 (THIRTY) days indicating whether it is agreeable to the proposed variation and if not, such party shall indicate what variation, if any, it is agreeable to and shall furnish reasons why the proposed variation is unacceptable. 5.8.5.3 In the event of there being any matter still unresolved, the parties shall convene a meeting of the JLC where appropriate, within 10 (TEN) days to try and resolve the matter. 5.8.5.4 If the matter thereafter remains unresolved, the matter shall be referred to arbitration as provided for in this Agreement. 5.8.5.5 Pending the arbitration, the fee structure shall be adjusted by such amount, if any, as the parties have agreed upon without prejudice to the right of the other to seek further variation.
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Procedure For Variation. (a) If State Govt. requires a Variation in accordance with Sub-Clause 12.1(a) or State Govt. agrees to the Concessionaire‟s proposed Variation in accordance with Sub- Clause 12.1(b), State Govt. shall issue a notice specifying in reasonable detail the works and services contemplated by such Variation (the „Variation Notice‟). (b) Upon receipt of a Change in Scope Notice, the Concessionaire shall, with due diligence, provide to State Govt. such information as is necessary, together with preliminary documentation in support of: (i) the impact, if any, which the Variation is likely to have on the completion of the Project Milestones if the proposed works or services are required to be carried out during the Construction Period; (ii) the cost to the Concessionaire of complying with such Variation Notice (including, without limitation, material and labour cost information furnished in accordance with the then current schedule of rates applicable to the works assigned by State Govt. to its contractors, including the premium on such rates); and (iii) the options suggested for implementing the proposed Variation and the effect, if any, each such option would have on the costs and time for the implementation thereof, including a detailed breakdown by work classifications. (c) In the event that the Variation has been initiated by State Govt., the costs of providing the information and documentation referred to in Sub-Clause 12.2(b), shall be reimbursed to the Concessionaire by State Govt. to the extent such costs are certified to be reasonable by the Project Engineer . (d) Upon receipt of the information and documentation in the event that State Govt. decides to proceed with the Change in Scope, it shall convey to the Concessionaire: (i) its preferred option as referred to in Sub-Clause 12.2(b)(iii); and (ii) in the case of Additional Major Works, its proposed method of compensation for consideration by the Concessionaire. (e) The Parties shall, with assistance of the Project Engineer, agree on the terms for additional compensation for completing the Variation in accordance with the principle set out in Clause 12.3 - Compensation for Variation. (f) Upon reaching an agreement on the terms of additional compensation for completing the Variation, State Govt. shall issue an order (the “Variation Order‟), requiring the Concessionaire to undertake the Variation. In the event that the Parties are unable to agree as to the additional compensation payable, the Parties may pr...
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Related to Procedure For Variation

  • Procedure for taking possession - The Promoter, upon obtaining the occupancy certificate* from the competent authority shall offer in writing the possession of the [Apartment/Plot], to the Allottee in terms of this Agreement to be taken within two months from the date of issue of occupancy certificate. [Provided that, in the absence of local law, the conveyance deed in favour of the allottee shall be carried out by the promoter within 3 months from the date of issue of occupancy certificate]. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfilment of any of the provisions, formalities, documentation on part of the Promoter. The Allottee, after taking possession, agree(s) to pay the maintenance charges as determined by the Promoter/association of allottees, as the case may be after the issuance of the completion certificate for the project. The promoter shall hand over the occupancy certificate of the apartment/plot, as the case may be, to the allottee at the time of conveyance of the same.

  • Procedure for assignment (a) Subject to the conditions set out in Clause 23.2 (Conditions of assignment or transfer) an assignment may be effected in accordance with paragraph (c) below when the Agent executes an otherwise duly completed Assignment Agreement delivered to it by the Existing Lender and the New Lender. The Agent shall, subject to paragraph (b) below, as soon as reasonably practicable after receipt by it of a duly completed Assignment Agreement appearing on its face to comply with the terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Assignment Agreement. (b) The Agent shall only be obliged to execute an Assignment Agreement delivered to it by the Existing Lender and the New Lender once it is satisfied it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assignment to such New Lender. (c) Subject to Clause 23.9 (Pro rata interest settlement), on the Transfer Date: (i) the Existing Lender will assign absolutely to the New Lender the rights under the Finance Documents expressed to be the subject of the assignment in the Assignment Agreement; (ii) the Existing Lender will be released by each Obligor and the other Finance Parties from the obligations owed by it (the “Relevant Obligations”) and expressed to be the subject of the release in the Assignment Agreement; and (iii) the New Lender shall become a Party as a “Lender” and will be bound by obligations equivalent to the Relevant Obligations. (d) Lenders may utilise procedures other than those set out in this Clause 23.6 to assign their rights under the Finance Documents (but not, without the consent of the relevant Obligor or unless in accordance with Clause 23.5 (Procedure for transfer), to obtain a release by that Obligor from the obligations owed to that Obligor by the Lenders nor the assumption of equivalent obligations by a New Lender) provided that they comply with the conditions set out in Clause 23.2 (Conditions of assignment or transfer).

  • Procedure for Offer Subject to the terms hereof, Landlord shall notify Tenant (the “First Offer Notice”) prior to entering into any lease with a third party for the First Offer Space, which notice shall outline the base rent, allowance amounts if any, length of term, and other economic terms on which Landlord would be willing to lease the First Offer Space (as set forth in such proposal) to Tenant (the “Fundamental Terms”). Pursuant to such First Offer Notice, Landlord shall offer to lease to Tenant the applicable First Offer Space on the Fundamental Terms.

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  • Procedure for Rebate The Association represents to the Board that an internal rebate procedure has been established in accordance with Section 4117.09(C) of the Revised Code and that a procedure for challenging the amount of the representation fee has been established and will be given to each member of the bargaining unit who does not join the Association and that such procedure and notice shall be in compliance with all applicable state and federal laws and the Constitutions of the United States and the State of Ohio.