Market-Related Contract Term Addition Sample Clauses

Market-Related Contract Term Addition. The term of this contract may be adjusted when a dras- tic reduction in wood product prices has occurred in accordance with 36 CFR 223.52. The Producer Price Index used to determine when a drastic reduction in price has occurred is stated in A.20. Contractor will be notified whenever the Chief determines that a drastic reduction in wood product prices has occurred. If the drastic reduction criteria specified in 36 CFR 223.52 are met for 2 consecutive calendar quarters, after contract award date, Contracting Officer will add 1 year to the contract term, upon Contractor’s written request. For each additional consecutive quarter such a drastic reduction occurs, Contracting Officer will, upon written request, add an additional 3 months to the term during Normal Operating Season. Contracting Officer must receive Contractor’s written request for a market-related contract term addition before the expiration of this contract.
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Market-Related Contract Term Addition. The term of this contract may be adjusted when a drastic reduction in wood product prices has oc- curred in accordance with 36 CFR 223.52. The Pro- ducer Price Index used to determine when a drastic re- duction in price has occurred is stated in A20. Contrac- tor will be notified whenever the Chief determines that a drastic reduction in wood product prices has occurred. If the drastic reduction criteria specified in 36 CFR‌‌‌‌‌ 223.52 are met for 2 consecutive calendar quarters, af- ter contract award date, Contracting Officer will add 1 year to the contract term, upon Contractor’s written re- quest. For each additional consecutive quarter such a drastic reduction occurs, Contracting Officer will, upon written request, add an additional 3 months to the term during Normal Operating Season. Contracting Officer must receive Contractor’s written request for a market- related contract term addition before the expiration of this contract.‌‌ The total amount of contract term addition is limited to the lesser of twice the length of the original contract or 3 years. The revised contract term may not exceed 10 years as a result of market-related contract term ad- dition. Additional contract time may not be granted for those portions of the contract that have a required com- pletion date or for those portions of the contract where Contracting Officer determines that the timber is in need of urgent removal or that timber deterioration or re- source damage will result from delay.‌‌‌
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Related to Market-Related Contract Term Addition

  • Contract Term Adjustment “Contract Term Adjustment” means adjustment only as provided for in the three circumstances described in this Subsection. Under these circumstances, the contract term shall be adjusted in writing to include additional calendar days in one or more Normal Operating Seasons equal to the actual time lost, except as limited by paragraph (b) in this Subsection.

  • Contract Term Extension “Contract Term Extension” means an extension of the term of this contract, at the request of Purchaser, under this Subsection. This Subsection does not obligate Contracting Officer to grant Contract Term Extension.

  • Contract Termination debarment. A breach of the contract clauses in 29 CFR 5.5 may be grounds for termination of the contract, and for debarment as a contractor and a subcontractor as provided in 29 CFR 5.12.

  • Contract Termination; Debarment A breach of the contract clauses in paragraph 1 through 10 of this section may be grounds for termination of the contract, and for debarment as a contractor and a subcontractor as provided in 29 CFR 5.12.

  • Early Contract Termination The State may terminate this contract in whole or in part by giving fifteen (15) days written notice to the Purchaser when it is in the best interests of the State. If this contract is so terminated, the State shall be liable only for the return of that portion of the initial deposit that is not required for payment, and the return of unapplied payments. The State shall not be liable for damages, whether direct or consequential.