Common use of ADJUSTMENT OF FRAMEWORK PRICES Clause in Contracts

ADJUSTMENT OF FRAMEWORK PRICES. The Framework Prices shall only be varied, where there is express agreement from the Authority to do so and in circumstances: due to a Specific Change in Law in relation to which the Parties agree that a change is required to all or part of the Framework Prices in accordance with Clause 31.3; where the Parties agree a reduction in all or part of the Framework Prices in accordance with paragraph 9.2; or where a review of the Framework Prices is requested and agreed by the Parties, in accordance with the provisions of paragraph 4 of this Framework Schedule 2. Every six (6) Months during the Term commencing from the Commencement Date, the Supplier shall assess the level of the Framework Prices to consider whether it is able to reduce them. Such assessments shall be carried out as at 1 August and 1 February in each Contract Year (each an “Assessment Date”). The Supplier shall notify the Authority within five (5) Working Days of the Assessment Date whether or not it is able to decrease all or some of the Framework Prices it shall promptly notify the Authority in writing and such reduction shall be implemented in accordance with paragraph 5. The level of any increase to the Framework Prices will be determined by the Authority alone and may not be negotiated.

ADJUSTMENT OF FRAMEWORK PRICES. The Framework Prices shall only be varied, where there is express agreement from the Authority to do so and in circumstances: due to a Specific Change in Law where the effect of that Specific Change in Law on the Services is not known at the Commencement Date in relation to which the Parties agree that a change is required to all or part of the Framework Prices in accordance with Clause 31.330.3; where the Parties agree a reduction in all or part of the Framework Prices in accordance with paragraph 9.24.2; or where a review of the Framework Prices is requested and agreed by the Parties, in accordance with the provisions of paragraph 4 5 of this Framework Schedule 2. Every six (6) Months during the Term commencing from the Commencement Date, the Supplier shall assess the level of the Framework Prices to consider whether it is able to reduce them. Such assessments shall be carried out as at 1 August May and 1 February December in each Contract Year (each an “Assessment Date”). The Supplier shall promptly notify the Authority in writing within five (5) Working Days of the Assessment Date whether or not it is able to decrease all or some of the Framework Prices it shall promptly notify and the Authority in writing extent to which the Supplier is able to decrease all or some of the Framework Prices and such reduction shall be implemented in accordance with paragraph 5. The level of any increase to the Framework Prices will be determined by the Authority alone and may not be negotiated6.