Common use of Base Rate Adjustments Clause in Contracts

Base Rate Adjustments. i. Notwithstanding any Base Rate published by PHA in its Tariffs, the Base Rate applicable to Carrier shall be adjusted annually throughout the Term of this Agreement as described in this paragraph. Commencing on January 1, 2016 and continuing on January 1st of each year thereafter during the Term (the “Adjustment Date[s]”), the annual Base Rate shall be adjusted to an amount equal to the product of (a) the Base Rate for the calendar year immediately preceding the Adjustment Date (“Base Rate Year”) multiplied by

Base Rate Adjustments. i. Notwithstanding any Base Rate published by PHA in its Tariffs, the Base Rate applicable to Carrier shall be adjusted annually throughout the Term of this Agreement as described in this paragraph. Commencing on January 1, 2016 2021 and continuing on January 1st of each year thereafter during the Term (the “Adjustment Date[s]”), the annual Base Rate shall be adjusted to an amount equal to the product of (a) the Base Rate for the calendar year immediately preceding the Adjustment Date (“Base Rate Year”) multiplied by