Annual Rate Adjustments Sample Clauses
The Annual Rate Adjustments clause establishes a mechanism for periodically modifying the rates or fees specified in an agreement, typically on a yearly basis. This clause outlines the method for calculating adjustments, which may be tied to inflation indices, market benchmarks, or a fixed percentage increase, and specifies when and how these changes will take effect. Its core practical function is to ensure that compensation or costs remain fair and reflective of changing economic conditions over time, thereby protecting both parties from the risks associated with static pricing in long-term contracts.
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Annual Rate Adjustments. (a) The Total Base Rate, excluding any surcharge or tax imposed by a third-party pursuant to Section 9.3, shall be adjusted annually beginning July 1, 2023 and each year thereafter by increasing the Total Base Rate by the increase in the Consumer Price Index- For All Urban Consumers (CPI-U) for the preceding 12-month period (“Adjusted Base Rate”), provided, however, that the amount of the annual increase to the Total Base Rate shall not be less than one percent (1%) and shall not be more than three percent (3%), irrespective of the actual change in the CPI-U. Each annual increase thereafter in the Adjusted Base Rate shall be cumulative of the preceding annual increase; and shall include the same percentage adjustment as made to the Total Base Rate charged by Chicago Heights to Homewood. Homewood agrees to annually notify East ▇▇▇▇▇ Crest of the percentage increase in Adjusted Rate Base as soon as it receives notice of the percentage increase from Chicago Heights.
(b) Homewood shall give East ▇▇▇▇▇ Crest annual written notice of any increase in the Rate at least thirty (30) days prior to the effective date of the modification of the Total Base Rate.
(c) East ▇▇▇▇▇ Crest agrees that, with respect to any future rate adjustments imposed by a third party, including, but not limited to, modifications of the ▇▇▇▇▇▇▇ Water Base Rate or the Chicago Heights Delivery Rate, in the event any approval is required by law, that East ▇▇▇▇▇ Crest will, without objection, join any petition rate schedule, tariff, or other documents or proceedings which may be necessary to be filed with any public body. Further, East ▇▇▇▇▇ Crest agrees to abide by such adjusted rate and to pay same.
Annual Rate Adjustments. The fees which may be charged by the Contractor for the sixth and subsequent years of the term hereof may be adjusted upward to reflect changes in the cost of operations based on the factors set forth hereinbelow, with a maximum allowable increase of 3% per annum. Contractor will petition the City, in writing, at least ninety (90) days prior to the anniversary date of the effective date of this contract for any adjustment to the rates charged to the City as established hereunder, by submitting any such request for a rate adjustment to the City.
Annual Rate Adjustments. Company shall increase the rates for all Services effective on each anniversary of the Effective Date of this Agreement in an amount equal to the greater Consumer Price Index for All Urban Consumers (Water, Sewer and Trash Collection Services) U.S. City Average, as published by United States Department of Labor, Bureau of Statistics (the “CPI”). For the CPI calculation, rates will be adjusted using the most recently available trailing twelve
Annual Rate Adjustments. Company shall increase the rates by four (5%) percent for all Services on April 1 of each successive year of the contract.
Annual Rate Adjustments. The Rates outlined in Table 1 are for the period January 1, 2015 through December 31, 2015. Such rates will be adjusted annually as shown below, effective January 1 of each year of the term, including extensions.
Annual Rate Adjustments. The Rates outlined in Table 1 are for the period January 1, 2021 through the end of the term of the Agreement. Such rates will be adjusted annually as shown below, effective January 1 of each year of the term, including extensions. Commencing January 1, 2021 and thereafter on each January 1, this Agreement is in effect, including any extension years, the rates stated above shall be increased by the change in the value of the All Urban Consumers Index (CPI-U), All Items, for the San Francisco- Oakland-San Jose, CA, Base Period 1982 – 1984 = 100, not seasonally adjusted, compiled and published by the U. S. Department of Labor, Bureau of Labor Statistics (or its successor) for the previous October and its value twelve months before. Residential Green Waste Commercial Source- Separated Organics Mixed Organics
Annual Rate Adjustments. Rates will be adjusted annually, effective January 1 of each year of the term, including extensions. Commencing January 1, 2025 and thereafter on each January 1, this Agreement is in effect, including any extension years, the rates stated above shall be increased by the change in the value of the All Urban Consumers Index (CPI-U), All Items, for the San Francisco-Oakland-San Jose, CA, Base Period 1982 – 1984 = 100, not seasonally adjusted, compiled and published by the U. S. Department of Labor, Bureau of Labor Statistics (or its successor) for the previous October and its value twelve months before. Annual increases will be no less than 3.2% annually.
Annual Rate Adjustments. The rates for services set forth in Attachment D shall be adjusted annually, to be effective July 1, 2026 and the July 1 for each ensuing year of the Term in accordance with Attachment J and Section 14.09. If Contractor bills Customers on a monthly basis, thirty days (30) prior to each annual automatic adjustment, Contractor shall provide written notice of the change in the rates to Customers by printing the amount (percentage) of the rate adjustment on the Customer’s bill (including both electronic and hard copy bills). Said notice shall include language stating that the Agreement between the City and Contractor provides for this annual adjustment. If Contractor bills Customers on a monthly basis, Contractor shall submit the language to be included on the Customer’s bill (including both electronic and hard copy bills) for City’s approval sixty (60) days prior to each annual automatic adjustment. If Contractor bills Customers on a quarterly basis, ninety days (90) prior to each annual adjustment, Contractor shall provide written notice of the change in the rates to Customers by printing the amount (percentage) of the rate adjustment on the Customer’s bill (including both electronic and hard copy bills). Said notice shall include language stating that the Agreement between the City and Contractor provides for this annual adjustment.
Annual Rate Adjustments. Provider may request a rate adjustment, which the Port will consider in its sole discretion, no more frequently than once annually for the ensuing one-year period beginning on the effective date of the Contract or on an anniversary of the effective date of the Contract ("Contract Year") to reflect actual increases in Provider's cost to perform under this Contract. Provider must submit a written request with backup documentation establishing the actual increases in cost. Any such request shall be submitted to the Port no less than thirty (30) calendar days prior to the end of the Contract Year, and adjustments shall be effective as of the beginning of the following Contract Year. In no event shall the rate adjustment be more than the percentage change during the preceding Contract Year in the Consumer Price Index for All Urban Consumers (CPI-U), US City Average, not seasonally adjusted, all items, published by the U.S. Department of Labor.
Annual Rate Adjustments. The Rate for the period January 1, 2024 through December 31, 2024 is $102.28 per ton. Rates will be adjusted annually as shown below, effective January 1 of each year of the term, including extensions. Commencing January 1, 2025 and thereafter on each January 1, this Agreement is in effect, including any extension years, the rates stated above shall be increased by the change in the value of the All Urban Consumers Index (CPI-U), All Items, for the San Francisco- Oakland-San Jose, CA, Base Period 1982 – 1984 = 100, not seasonally adjusted, compiled and published by the U. S. Department of Labor, Bureau of Labor Statistics (or its successor) for the previous October and its value twelve months before.