the circumstances leading to renegotiation of the contract Sample Clauses

the circumstances leading to renegotiation of the contract. 127135. The financial and economic considerations for the concessionaireprivate partner’s investment are negotiated in the light of assumptions based on the circumstances prevailing at the time of the negotiations and the reasonable expectations of the parties as to how those circumstances will evolve during the life of the project. To a certain extent, projections of economic and financial parameters and sometimes even a certain margin of risk will normally be included in the economic and financial scenario contained in the bidding documents issued by the contracting authority and in the formulation assumption of the financial proposals submitted by the bidders (see chap. III, “Selection of the concessionaireContract award”, para. 68). However, certain events may occur that the parties could not reasonably have anticipated when the project agreementPPP contract was negotiated and that, had they been taken into account, would have resulted in a different risk allocation or consideration for the concessionaireprivate partner’s investment. Given the long duration of infrastructure projects, it is important to devise mechanisms to deal with the financial and economic impact of such events. Revision rules have been applied in a number of countries and have been found useful to help parties find equitable solutions for ensuring the continued economic and financial viability of infrastructure projects, thus averting a disruptive failure of performance by the concessionaireprivate partner. However, revision rules may also have some disadvantages, in particular from the perspective of the Government. 128136. As with general legislative changes, changes in economic conditions are risks to which most business organizations are exposed without having recourse to a general guarantee of the Government that would protect them against the economic and financial effects of those changes. An unqualified obligation of the contracting authority to compensate the concessionaireprivate partner for changes of economic conditions may result in a reversion to the public sector of a substantial portion of the commercial risks originally allocated to the concessionaireprivate partner and represent an open-ended financial liability. Furthermore, it should be noted that the proposed tariff level and the essential elements of risk allocation are important, if not decisive, factors in the selection of the concessio- naireprivate partner (see chap. II, “Project planning and preparation”...
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Related to the circumstances leading to renegotiation of the contract

  • Renegotiation of Agreement Either party to this Agreement may, within ninety (90) days prior to termination of this Agreement, present to the other party in writing proposed terms of a new or further Agreement and/or amendments to this Agreement, and a conference shall be held within twenty (20) days, or as otherwise agreed by the parties, at which time the parties will commence negotiations on the proposed amendments and/or terms of a new Agreement. Negotiations will be conducted in the spirit of good faith.

  • MODIFICATION OF THE CONTRACT 1. Any modification of this contract or its annexes, including additions or deletions, shall require a supplementary written agreement concluded on the same terms as the contract. No oral agreement may bind the parties for that purpose.

  • Termination of the Contract 11.1. The Coordinator may terminate the contract if the Co-beneficiary has inadequately discharged or failed to discharge any of the contractual obligations, insofar as this is not due to force majeure, after notification of the Co-beneficiary by registered letter has remained without effect for one month.

  • Contract Negotiations Where operational requirements permit, and on reasonable notice, the Employer shall grant special leave with pay for not more than two (2) representatives of each bargaining unit for the purpose of attending contract negotiation meetings with the Employer on behalf of the Union. Such permission shall not be unreasonably withheld.

  • Termination and Suspension of the Contract 27.1. The Competent Body shall suspend the Contract in a binding order if: o The License is suspended; o There is a direct threat to life or health of the people working or residing in a zone influenced by the operations under the Contract;

  • Renegotiation or Modification The Parties agree to renegotiate this Agreement if federal and/or state revisions of any applicable laws or regulations make changes to this Agreement necessary. In addition to changes necessitated by law, DEO may at any time, with written notice to Grantee, make changes within the general scope of this Agreement. Such changes may include modification of the requirements, changes to processing procedures, or other changes as decided by DEO. Any investigation necessary to determine the impact of the change shall be the responsibility of Grantee. Modifications of provisions of this Agreement shall only be valid when they have been reduced to writing and duly signed and dated by all Parties.

  • Modifications or Additions to Master Agreement As used in this document, Contract (whether capitalized or not) will, unless the context requires otherwise, mean this document and all incorporated Exhibits, which set forth the entire understanding of the Parties and supersede any and all prior agreements. This Contract may only be modified or amended upon mutual written agreement by the Parties. If amendments are made to the Master Agreement, the Contractor shall: 1) notify the Department of such amendments; and 2) provided the Department is amenable to incorporating the amendments into this Contract, enter into a written amendment with the Department reflecting the addition of such amendments to this Contract. In addition to Section 2.2.1 of the Master Agreement and any additional language within the Contract regarding delivery, the Parties agree that Inside Delivery for Customers under this ACS may be further negotiated prior to purchases under this ACS. Inside Delivery rates can be found under the Terms and Conditions page: xxxxx://xxxxxx.xxx.xx.xxx/purchase/spg/awards/2091523109Can.htm All Exhibits attached or listed below are incorporated in their entirety into, and will form part of, this Contract. Exhibit A and Exhibit B, modify or supplement the terms and conditions of the Master Agreement. In the event of a conflict, the following order of precedence will apply:

  • Modification or Renegotiation This agreement may be modified only by written agreement signed by the parties hereto. The parties agree to renegotiate the agreement if federal and/or state revisions of any applicable laws or regulations make changes in this agreement necessary.

  • Duration of the contract This contract becomes effective on , and will continue in effect for 365 days from the above date. Either party may terminate treatment with reasonable notice to the other party, as provided in the agreement. Notwithstanding this right to terminate treatment, both Provider and Beneficiary agree that the obligation not to pursue Medicare reimbursement for items and services provided under this contract will survive this contract.

  • Amendment of the Contract (06/19) Any changes to the provisions of this Contract shall be in the form of an Amendment. No provision of this Contract may be amended unless such Amendment is approved as to form by the City Attorney and executed in writing by authorized representatives of the Parties. If the requirements for Amendment of this Contract as described in this section are not satisfied in full, then such Amendments automatically will be deemed null, void, invalid, non-binding, and of no legal force or effect. The City reserves the right to make administrative changes to the Contract unilaterally, such as extending option years and increasing compensation. An administrative change means a written Contract change that does not affect the substantive rights of the Parties.

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