Annual Review and Adjustment Sample Clauses

The Annual Review and Adjustment clause establishes a process for periodically evaluating and modifying certain terms of an agreement, typically on a yearly basis. This clause often applies to elements such as pricing, service levels, or performance metrics, allowing the parties to revisit and update these terms in light of changing circumstances or market conditions. Its core practical function is to ensure that the contract remains fair, relevant, and responsive to evolving needs, thereby reducing the risk of disputes and maintaining a balanced relationship between the parties.
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Annual Review and Adjustment. The Executive's compensation, as set forth in this Section 4(a), will be subject to annual review and adjustment by a disinterested majority of the Bank's Board of Directors or Executive Committee. In no case, however, will the Executive's salary, vacation, and expense reimbursement be less than the amounts set forth in this Section 4.
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Annual Review and Adjustment. In the first quarter of each calendar year, the Airport Board will research the prior year’s CPI increase and calculate the new base rate to be used for all leases in the current calendar year using the following procedures. This base rate is the basis for the next year's cost adjustments. The Airport Board will use the Consumer Price Index (CPI) (US Department of Labor, Bureau of Labor Statistics, West Region Urban Consumer Price Index, 12- month percent change not seasonally adjusted). For example: Using the last year’s (January 2023) price per square foot of $0.115 and one-year percent change of the prior year (January 2023 to January 2024) of 4.3%, you would simply multiply the last years price $0.115 by 1 + 0.043 to determine the CPI increase to the cost per square foot. [$0.115 x 1.043 = $0.119945]. Then the upper limit of the current year's base rate would be $0.12. The Airport Board may consider the adjusted amount equal to, but not to exceed, the limit calculated with the CPI. This figure will then become the current year base rate when approved by the County Commissioners and will be the lease rate for all renewals and leases in that current calendar year (CY). The first full calendar month of the first lease year of this Lease is January 20 .
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Annual Review and Adjustment. The Officer’s compensation as set forth in this Section 4(a), will be subject to annual review and adjustment by a disinterested majority of The Bank’s Board of Directors or Compensation Committee. In no case, however, will the Officer’s salary, vacation and expense reimbursement be less than the amounts set forth in this section 4.
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Related to Annual Review and Adjustment

  • Year-End Adjustment If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the actual Fund Operating Expenses of a Fund for the prior fiscal year (including any reimbursement payments hereunder with respect to such fiscal year) do not exceed the Operating Expense Limit.

  • Minimum Adjustment The adjustments required by the preceding sections of this Article IV shall be made whenever and as often as any specified event requiring an adjustment shall occur, except that no adjustment of the Exercise Price or the number of shares of Common Stock issuable upon exercise of the Warrants that would otherwise be required shall be made unless and until such adjustment either by itself or with other adjustments not previously made increases or decreases by at least 1% the Exercise Price or the number of shares of Common Stock issuable upon exercise of the Warrants immediately prior to the making of such adjustment. Any adjustment representing a change of less than such minimum amount shall be carried forward and made as soon as such adjustment, together with other adjustments required by this Article IV and not previously made, would result in a minimum adjustment. For the purpose of any adjustment, any specified event shall be deemed to have occurred at the close of business on the date of its occurrence. In computing adjustments under this Article IV, fractional interests in Common Stock shall be taken into account to the nearest one-hundredth of a share.

  • Payment and Year-End Adjustment Amounts accrued pursuant to this Agreement shall be payable to the Adviser as of the last day of each month. If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the actual Fund Operating Expenses of a Fund for the prior fiscal year (including any reimbursement payments hereunder with respect to such fiscal year) do not exceed the Maximum Annual Operating Expense Limit.

  • CPI Adjustment If the CPI Percentage Increase (as defined below) is more than [***] for the relevant Adjustment Period, then the Rent payable during that Adjustment Period shall be adjusted upward by a percentage equal to the CPI Percentage Increase (as defined below) applicable to such Adjustment Period, but not to exceed an adjustment during any Adjustment Period of greater than [***]. The term “Consumer Price Index” shall mean the unadjusted Consumer Price Index for All Urban Workers, U.S. City Average, All Items, 1982-84=100, calculated and published by the United States Department of Labor, Bureau of Labor Statistics. The “CPI Percentage Increase” shall mean, with respect to any Adjustment Period, [***]. For the avoidance of doubt, no CPI Adjustment shall be made to any payment due under this Ground Lease for any Adjustment Period if the result of such CPI Adjustment would be to (a) reduce the amount of such payment to an amount that is less than the amount of such payment due for the immediately preceding Adjustment Period or (b) to raise the amount of such payment to an amount that is greater than [***]. For illustrative purposes only, [***]. The CPI Percentage Increase for any Adjustment Period shall be calculated by the Tenant, and the Tenant shall deliver written notice to the Landlord describing such calculation in reasonable detail (a “CPI Notice”) no later than thirty (30) days after the commencement of any Adjustment Period. If the Landlord disagrees with the Tenant’s calculation of the CPI Percentage Increase, then the Landlord shall deliver to the Tenant written notice, describing the basis for such disagreement in reasonable detail (a “CPI Disagreement Notice”), not later than thirty (30) days after delivery of the CPI Notice. If the Landlord fails to deliver a CPI Disagreement Notice within thirty (30) days after delivery of any CPI Notice, then the Landlord shall be conclusively deemed to have agreed with the calculation of the CPI Percentage Increase set forth in such CPI Notice.

  • Annual Adjustment From January 1 of the next year, the loan interest rate shall be adjusted, on the basis of the LPR recently published, in accordance with the increased or decreased percentage points agreed herein;