Time, variation, change control and appropriation of payments

PERFORMANCE, TIME, VARIATION AND PAYMENT CLAUSES

1. Time and the consequences of delay

1.1 Time of the essence. Time shall be of the essence of this Agreement in respect of the obligations of the [Contractor / Supplier / Service Provider] under clauses [4.2 (Delivery), 5.1 (Milestone Dates) and 6.3 (Completion)] and in respect of the obligations of the [Company] under clause [8 (Payment)]. In respect of every other obligation, time shall not be of the essence unless made so by a notice given under clause 1.5.

1.2 Dependencies. The obligations of the [Company] listed in Schedule [Schedule number listing Dependencies] (Dependencies) are conditions precedent to the corresponding obligations of the [Contractor] identified against them. Where the [Company] fails to discharge a Dependency by the date stated, the corresponding date for performance shall be extended day for day and the [Contractor] shall be entitled to its reasonable, evidenced standing costs at the rates in Schedule [Schedule number of standing cost rates], provided it has given notice under clause 1.3 within [seven (7)] days of becoming aware of the failure.