EPC Price definition

EPC Price means the maximum sum payable by Company as stated in Section 7.1 for all labor, all materials, all equipment, and the Warranty, which sum shall be due in accordance with the terms of the Contract Documents as consideration for the timely performance of the Statement of Work to be performed by or through Contractor on a “turn-key” basis in order to complete the Project (excluding the Service Package Extension Fees), all in strict accordance with the terms of the Contract Documents, which maximum sum is guaranteed by Contractor not to exceed the amount set forth in Section 7.1, which sum shall only be subject to adjustment in accordance with the Contract Documents. “ESS” means the electric energy storage system, including Software, to be located on the Property Site as more particularly described in the Statement of Work. “Equipment” means all of the equipment, materials, apparatus, structures, tools, supplies, goods and other items provided by Contractor and its Subcontractors and Vendors (or by Company pursuant to Section 3.1) that are installed or incorporated into the ESS or otherwise form or are intended to form part of the Work or the ESS (other than Contractor Equipment). “Equipment Tests” means the tests further described in Exhibit A. “Exempt Equipment” has the meaning set forth in Section 3.27(b). “Facilities” means the energy storage system, including Software and balance of plant, to be located on the Property Site as more particularly described in the Statement of Work. “Final Acceptance” shall mean that all of the following have occurred: [*****]; and (xiii) Company has approved of and signed the Final Acceptance Certificate pursuant to Section 10.5.
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EPC Price shall have the meaning assigned to it in Section 7.2.
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EPC Price means the lumpsum price accepted by the Purchaser and incorporated in the Letter of Intent for the entire scope of the Works, which implies the all inclusive value including Customs Duty and other Taxes& Duties, Packing, Forwarding, Freight & Insurance charges
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Examples of EPC Price in a sentence

  • Contractor shall maintain a Payment Bond in an amount equal to [*****] of the EPC Price and shall maintain a Performance Bond in an amount equal to [*****] of the Contract Price, as such amount may be increased or decreased over time through Change Orders, or such lesser amount designated by Company, until Contractor provides Company the Standard Service Package Period Performance Security as set forth in Subsection (b) below.

  • Any resulting decrease in the Cost of the Work will result in a downward adjustment to the EPC Price.

  • Owners’ responsibility for the EPC Price shall be adjusted only pursuant to Sections 7.2 and 7.3 of this Agreement relating to the EPC Price.

  • Owners shall not be responsible for any increased Cost of the Work resulting from Addenda and Change Orders that are necessary because of errors or omissions of Contractor and/or its Subcontractors in performing the Work hereunder, and the EPC Price shall not be adjusted.

  • On 4 March 2010 Ellomay, as principal, and Ecoware, as contractor, entered into two contracts for the supply, construction, installation and start-up of two photovoltaic systems of nominal power equal to approximately 750KWp, located in the Marche region, respectively in the municipalities of Cingoli and Senigallia (the EPC Contracts), at the price of Euro 3,050,000.00 per MWp (the EPC Price).

  • Any Work performed pursuant to a Limited Notice to Proceed shall be deemed Work under this Agreement, and any payments therefore shall count against the EPC Price.

  • Such EPC Price includes land acquisition cost to be paid to a 3rd party by Owner.

  • If Contractor requests an Addendum or a Change Order and such Addendum or Change Order is approvable under Section 8.3 above and approved by Owners, but increases the Cost of the Work, then Owners and Contractor shall share equally any increase or decrease in the Cost of the Work resulting from such Addendum or Change Order and the EPC Price shall be adjusted accordingly.

  • Owners shall receive a credit against the EPC Price in an amount equal to the portion of the Anticipated Sales Tax Amount saved through use of the I▇▇ Exemption (the “Sales Tax Savings”).

  • Notwithstanding a failure by Contractor to perform its Site investigation due diligence consistent with the access Owner has granted under this Section 4.4, Contractor (except as expressly provided otherwise in Section 7.2.4 of this Agreement) shall be responsible for successfully constructing the Facility without adjustment of the EPC Price.