Common use of Adjustment of Indirect Rates Clause in Contracts

Adjustment of Indirect Rates. A reimbursable rate is intended to be final. Performing Party acknowledges that TCEQ’s budget is limited and funds may not be available to reimburse any increase in indirect costs. Performing Party waives any right it may have to upward adjustment of its indirect rate, and agrees to contribute any such increase to the successful performance of this Contract (if matching funds are required, Performing Party may claim such costs as all or part of its match). TCEQ waives any right it may have to a downward adjustment of Performing Party’s indirect rate, unless the reimbursable rate is greater than the Performing Party’s actual indirect costs. If the latter case, if reasonably feasible, a compensating adjustment shall be carried forward to this Contract or a future contract. If not feasible, where permitted by law TCEQ and Performing Party may identify additional services to be performed by Performing Party as a compensating adjustment, or Performing Party shall reimburse TCEQ the excess indirect costs paid.

Adjustment of Indirect Rates. A reimbursable rate is intended to be final. Performing Party acknowledges that TCEQ’s budget is limited and funds may not be available to reimburse any increase in indirect costs. Performing Party waives any right it may have to upward adjustment of its indirect rate, and agrees to contribute any such increase to the successful performance of this Contract (if matching funds are required, Performing Party may claim such costs as all or part of its match). TCEQ waives any right it may have to a downward adjustment of Performing Party’s indirect rate, unless the reimbursable rate is greater than the Performing Party’s actual indirect costs. If the latter case, if reasonably feasible, a compensating adjustment shall be carried forward to this Contract or a future contract. If not feasible, where permitted by law TCEQ and Performing Party may identify additional services to be performed by Performing Party as a compensating adjustment, or Performing Party shall reimburse TCEQ the excess indirect costs paid.. NOTICES, PROJECT REPRESENTATIVES AND RECORDS LOCATION CONTRACT NO. 000-00-00000‌‌