Common use of Specified Cost Clause in Contracts

Specified Cost. AV shall pay Consultant $189,000 at a rate of $3,150 per day for a maximum of 60 days during the term of this Agreement. Payments shall be made on a monthly basis at the rate of $15,750 per month in advance. Any additional days required by the Task Manager, beyond the 5 days per month anticipated by the advance payment, will be invoiced at the daily rate in arrears with expenses and approved by the Task Manager. AV shall have the right to specify, in the task order, that the additional cost to AV, if any, of a requested task shall not exceed a stated amount. When so specified in the task order, Consultant shall not perform services exceeding the amount specified for the task. If it becomes apparent during the performance of the task that the cost for completion of the task will exceed the amount limited in the tasks order, Consultant shall advise AV as far in advance as possible so that consideration may be given to an increase in the amount limited for said task. AV may then at its discretion do any of the following: (i) authorize the increase in amount limited to allow completion of the task, subject to Consultant’s right to decline; (ii) request continuation of the task up to the original amount limited, at which time Consultant shall submit to AV any work or materials resulting from the unfinished task; (iii) request immediate termination of the task, and cause Consultant to submit to AV any work or materials resulting from the unfinished task;

Specified Cost. AV shall pay Consultant an amount not to exceed $189,000 150,000 at a rate of $3,150 3,000 per day for a maximum of 60 days during the term of this Agreement. Payments shall be made on a monthly basis at the rate of $15,750 per month in advance. Any additional days required by the Task ManagerUntil otherwise agreed, beyond the 5 it is anticipated that Consultant will devote 3 days per month anticipated by the advance payment, to AV consulting. AV will be invoiced at the daily pay Consultant a retainer of $9,000/month in anticipation of this rate in arrears with expenses and approved by the Task Managerof service. AV shall have the right to specify, in the task order, that the additional cost to AV, if any, of a requested task shall not exceed a stated amount. When so specified in the task order, Consultant shall not perform services exceeding the amount specified for the task. If it becomes apparent during the performance of the task that the cost for completion of the task will exceed the amount limited in the tasks order, Consultant shall advise AV as far in advance as possible so that consideration may be given to an increase in the amount limited for said task. AV may then at its discretion do any of the following: (i) authorize the increase in amount limited to allow completion of the task, subject to Consultant’s right to decline; (ii) request continuation of the task up to the original amount limited, at which time Consultant shall submit to AV any work or materials resulting from the unfinished task; (iii) request immediate termination of the task, and cause Consultant to submit to AV any work or materials resulting from the unfinished task;