Common use of Cost Increases Clause in Contracts

Cost Increases. In the event of an increase in electricity cost of the Normal Hosting Unit Price due to requirements of a governmental agency or third-party electricity provider, the Service Provider shall notify NORTHSTAR in writing and, upon NORTHSTAR’s request, the Service Provider shall furnish reasonable supporting documentation therefor. Upon such notification, the Parties agree to negotiate in good faith to adjust the Hosting Unit Price to account for such increase in electricity cost; provided that any such adjustment shall not exceed ten percent (10%) of the Normal Hosting Unit Price per calendar year. If the proposed increase exceeds this threshold and the Parties are unable to reach agreement within 30 days of notification, NORTHSTAR shall have the right to terminate this agreement without penalty. For the avoidance of doubt, nothing in this Article shall affect NORTHSTAR’s right to terminate without penalty.