Common use of Adjustment of Payments Clause in Contracts

Adjustment of Payments. The amount of the installment payments specified in Section 4.1, the annual payments specified in Section 4.2, and the Iowa Hill Annual Payments specified in Section 4.3.2 will be adjusted annually by the All Urban Consumer’s Price Index, All Items (Base Period 1982-84 = 100). The inflation adjustment for the installment payments specified in Section 4.1 will commence September 1, 2004 and will continue annually for the Term of this Agreement. Such adjustment for the annual payments, as specified in Sections 4.2 and 4.3.2, respectively, will commence upon the Effective Date and continue for the Term of this Agreement. Should said index either cease to exist or be modified so that it no longer performs its prior function, the Parties will meet and confer in order to determine a replacement index that most closely approximates said index.