Adjustment of Labor Rates Due to Inflation Clause Samples

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Adjustment of Labor Rates Due to Inflation. Upon written request of the Contractor, the City may increase rates due to inflation, subject to the following: 2.4.1.1 No increases shall be granted before the one-year anniversary of the Price Agreement/Price Agreement; 2.4.1.2 No more than one increase shall be granted per year of the Price Agreement/Price Agreement; 2.4.1.3 Rate increases may not exceed the preceding calendar year’s Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) West Region Class Size A average inflation rate (as determined by the U.S. Bureau of Labor Statistics); and 2.4.1.4 No rate increases shall apply to services delivered retroactively.
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Adjustment of Labor Rates Due to Inflation. Annual adjustment of hourly rates will be considered upon written request from the Consultant. Approval of a request for rate increases is solely within the City’s discretion and under no circumstances is the City obligated to approve such a request. Rate increases are subject to the following limitations: No increases will be granted before the one-year anniversary of the Price Agreement; No more than one increase shall be granted per Price Agreement year; Rate increases may not exceed the then-current average inflation rate for the Portland Metropolitan Area (as determined from the US Department of Labor statistics); Rate increases shall not be retroactive. Other than the impact of inflation as described above, hourly rates may not be increased. On or before the 15th of each month, the Consultant shall submit to the City’s Project Manager an invoice for work performed by the Consultant during the preceding month. The invoice shall contain the City’s Price Agreement Number and set out all items for payment including, but not limited to: the name of the individual, labor category, direct labor rate, hours worked during the period, and tasks performed. The Consultant shall also attach photocopies of claimed reimbursable expenses, if applicable. The Consultant shall stamp and approve all subconsultant invoices and note on the subconsultant invoice what they are approving as “billable” under the Price Agreement. The billing from the prime should clearly roll up labor and reimbursable costs for the prime and subconsultants – matching the subconsultant invoices. Prior to initial billing, the Consultant shall develop a billing format for approval by the City. The City shall pay all amounts to which no dispute exists within 30 calendar days of receipt of the invoice. Payment of any ▇▇▇▇, however, does not preclude the City from later determining that an error in payment was made and from withholding the disputed sum from the next progress payment until the dispute is resolved. The Consultant shall make full payment to its subconsultants within 10 business days following receipt of any payment made by the City to Consultant.
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Adjustment of Labor Rates Due to Inflation. Annual adjustment of hourly rates will be considered upon written request from the Consultant. Approval of a request for rate increases is solely within the City’s discretion and under no circumstances is the City obligated to approve such a request. Rate increases are subject to the following limitations:  No increases will be granted before the one-year anniversary of the contract;  No more than one increase shall be granted per contract year;  Rate increases may not exceed the then-current average inflation rate for the Portland Metropolitan Area (as determined from the US Department of Labor statistics);  Rate increases shall not be retroactive. Other than the impact of inflation as described above, hourly rates may not be increased.
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Related to Adjustment of Labor Rates Due to Inflation

  • Performance Adjustment Rate Except as otherwise provided in sub-paragraph (e) of this paragraph 3, the Performance Adjustment Rate is 0.02% for each percentage point (the performance of the Portfolio and the Index each being calculated to the nearest .01%) that the Portfolio's investment performance for the performance period was better or worse than the record of the Index as then constituted. The maximum performance adjustment rate is 0.20%. For purposes of calculating the performance adjustment of the portfolio, the portfolio's investment performance will be based on the performance of the retail class. The performance period will commence with the first day of the first full month following the retail class's commencement of operations. During the first eleven months of the performance period for the retail class, there will be no performance adjustment. Starting with the twelfth month of the performance period, the performance adjustment will take effect. Following the twelfth month a new month will be added to the performance period until the performance period equals 36 months. Thereafter the performance period will consist of the current month plus the previous 35 months. The Portfolio's investment performance will be measured by comparing (i) the opening net asset value of one share of the retail class of the Portfolio on the first business day of the performance period with (ii) the closing net asset value of one share of the retail class of the Portfolio as of the last business day of such period. In computing the investment performance of the retail class of the Portfolio and the investment record of the Index, distributions of realized capital gains, the value of capital gains taxes per share paid or payable on undistributed realized long-term capital gains accumulated to the end of such period and dividends paid out of investment income on the part of the Portfolio, and all cash distributions of the securities included in the Index, will be treated as reinvested in accordance with Rule 205-1 or any other applicable rules under the Investment Advisers Act of 1940, as the same from time to time may be amended.

  • Market Adjustment The parties to this Agreement recognize the appropriateness of market pay adjustments in rare instances for compelling reasons. To effectuate judgments in such cases, the President and AAUP Chapter President, in consultation, shall each name three (3) individuals to a university Market Evaluation Committee. Deans may submit recommendations for market pay adjustments with supporting written reasons to the committee. Said Committee shall consult with the President concerning proposed market pay adjustments reporting its advice not later than May 15 in each year. Upon the favorable recommendation of the President and the Chancellor, market pay adjustments may be approved effective at the beginning of that pay period including September 1 of the following year. Not more than one (1) market pay adjustment per one hundred (100) full-time members, or fraction thereof, may be recommended in any contract year. A member’s salary may not be increased beyond the maximum for the rank. Funding for this program shall be governed by Article 12.10.2.

  • Market Adjustments Neither this Article nor any other in this Collective Agreement prevents the Employer from using other funds to increase a Member’s salary in response to offers received from other employers or to accommodate other market forces.

  • Accrual Rate Compensatory time for employees will accrue at the rate of one and one-half hours for each one hour of overtime worked.

  • Inflation Adjustment Partner acknowledges and agrees that for each successive year after the first school year of Services and Software, eLuma may determine at its discretion to raise all Fees each year at the most recent annual rate of inflation, rounded to the nearest half dollar ($0.50) as defined here, or any other U.S. Government URL outlining such increases: ▇▇▇▇://▇▇▇▇.▇▇▇.▇▇▇/timeseries/CUUR0000SAM?output_view=pct_12mths