Compensation Event definition

Compensation Event means any of the following events or circumstances if and to the extent that it interferes adversely with, or causes a failure of, the carrying out of the Design, the Construction or the Services, causes an Unavailability Event or causes Direct Losses to Project Co or any Project Co Person:

Compensation Event means any of the following:

Compensation Event means any material breach by the Buyer of any of its obligations under this Agreement including any failure to make any payments due and payable to the Seller on the due date for payment, to the extent in each case that the breach is not caused or contributed to by the Seller or any Contractor or by Force Majeure, a System Event or Unforeseeable Conduct;

Examples of Compensation Event in a sentence

• Developer shall obtain all other Governmental Approvals and, except to the extent that the CDA Documents expressly provide that TxDOT is responsible therefor, all third party approvals and agreements required in connection with the Project, the Project Right of Way or the Work, including any modifications, renewals and extensions of the TxDOT-Provided Approvals, including those required in connection with a Compensation Event.

• Notwithstanding anything in this Agreement to the contrary, any event of TxDOT default or other breach by TxDOT of its obligations under the TxDOT Tolling Services Agreement shall not give rise to a default, breach, or liability by TxDOT under this Agreement or a claim for a Relief Event or a Compensation Event, except as specifically provided in Section 29.6.1 and in clause (r) of the definition of “Compensation Event”.

• No such failure or delay by TxDOT in delivering comments, exceptions, objections, rejections or disapprovals within the applicable time period shall constitute a TxDOT-Caused Delay, TxDOT Change, Relief Event, Compensation Event or other basis for any Claim.

• Developer shall have no claim for a Relief Event or Compensation Event by reason of TxDOT’s grant of access permits, the terms and conditions thereof, or the actions of permit holders or their employees, agents, representatives and invitees.

• Subject to any agreed scope of work and budget and to any rights of Developer in the case of a Compensation Event, Developer shall fully reimburse TxDOT for all costs and expenses, including TxDOT’s Recoverable Costs, TxDOT incurs in providing such cooperation and assistance, including those incurred to conduct further or supplemental environmental studies, and in carrying out TxDOT actions.

More Definitions of Compensation Event

Compensation Event has the meaning given in Clause 29.10;

Compensation Event means any event referred to in Sections 22.1(a)(i), 22.1(a)(ii), 22.1(a)(iii), 22.1(a)(iv), 22.1(a)(v), 22.1(a)(vi) and 22.1(a)(vii), as a direct result of which Project Co has incurred loss or expense.

Compensation Event shall have the meaning provided in Section 2(c)(i).

Compensation Event means the Concessionaire’s compliance with or the implementation of any City Directive or any modified or changed Operating Standard subject to Section 6.3(b), the occurrence of an Adverse Action or the occurrence of any other event that under the terms of this Agreement explicitly requires the payment of Concession Compensation, including under Section 3.12(c), Section 6.3(b), Section 7.1 and Section 7.6.

Compensation Event. COMPLETION CERTIFICATE"; "DBFO CO'S WORKS CHANGE"; "DEPARTMENT'S CHANGE IN SPECIFICATION"; "DEPARTMENT'S WORKS CHANGE"; "DELAY EVENT"; "ELIGIBLE CHANGE"; "GOOD INDUSTRY PRACTICE"; "IMPROVEMENT"; "LATENT DEFECT"; "LEASE"; "PENALTY POINTS"; "PERMIT TO USE"; "PROJECT ROAD"; "RETENTION ACCOUNT"; "SAFETY IMPROVEMENT"; "SECTION", "SITE"; "SUBSEQUENT SCHEME"; "TERMINATION ACCOUNTS"; "TERMINATION EVENT"; "WARNING NOTICE"; "WORKS PROGRAMME"; and "WORKS";

Compensation Event has the meaning given in Clause 7.1.1. "Defaulting User" has the meaning given in Clause 7.1.1.

Compensation Event means an occurrence that causes the contractor to be entitled to be paid compensation due to a situation where the scope of works is changed or the contractor has been stopped from working due to a cause other than his own.