REA Notice Clause Samples
The REA Notice clause establishes the requirement for a party to formally notify the other party of a Request for Equitable Adjustment (REA) under a contract. In practice, this clause specifies the procedures and timelines for submitting such notices, often detailing the information that must be included and the method of delivery. Its core function is to ensure that both parties are promptly informed of potential changes to contract terms, such as cost or schedule adjustments, thereby promoting transparency and allowing for timely resolution of issues that may impact contract performance.
REA Notice. A copy of a letter from Seller to each party to any reciprocal easement and/or other easement or restrictive agreement which effect the Real Property stating that the Real Property has been sold and that all notices under the such agreement relating to the Real Property should now be addressed to Buyer, if any such agreements require such notice.
REA Notice. A copy of a letter from Seller to each party to any reciprocal easement and/or other easement or restrictive agreement which effect the applicable Improved Parcel stating that the Improved Parcel has been sold and that all notices under the such agreement relating to the Improved Parcel should now be addressed to Buyer, if any such agreements require such notice.
REA Notice. An executed notice addressed to the parties to the REA in the form attached to this Agreement as Exhibit R