Common use of ADJUSTMENT OF THE FRAMEWORK PRICES Clause in Contracts

ADJUSTMENT OF THE FRAMEWORK PRICES. The Framework Prices shall only be varied: due to a Specific Change in Law in relation to which the Parties agrees that a change is required to all or part of the Framework Prices in accordance with Clause 32.2 of the Framework Agreement; where the Parties agree a reduction in all or part of the Framework Prices in accordance with paragraph 12.2 below; or where a review of the Framework Prices is requested and agreed by the Parties, in accordance with the provisions of paragraph 13 of this Framework Schedule 3 Every six (6) Months during the Term 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 on 1 May and 1 December in each Contract Year (or in the event that such dates do not, in any Contract Year, fall on a Working Day, on the next Working Day following such dates). To the extent that the Supplier is able to decrease all or part of the Framework Prices it shall promptly notify the Authority in writing and such reduction shall be implemented in accordance with paragraph 14 below.

ADJUSTMENT OF THE FRAMEWORK PRICES. The Framework Prices shall only be varied: due to a Specific Change in Law in relation to which the Parties agrees that a change is required to all or part of the Framework Prices in accordance with Clause 32.2 of the Framework Agreement; where the Parties agree a reduction in all or part of the Framework Prices in accordance with paragraph 12.2 8.2 below; or where a review of the Framework Prices is requested and agreed by the Parties, in accordance with the provisions of paragraph 13 9 of this Framework Agreement Schedule 3 (Charging Structure). Every six (6) Months during the Term 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 on 1 May June and 1 December November in each Contract Year (or in the event that such dates do not, in any Contract Year, fall on a Working Day, on the next Working Day following such dates). To the extent that the Supplier is able to decrease all or part of the Framework Prices it shall promptly notify the Authority in writing and such reduction shall be implemented in accordance with paragraph 14 10 below.