Costs Adjustment Sample Clauses

Costs Adjustment. If, during the term of this Agreement, the Contractor provides any equipment, Software, maintenance, training or documentation to any other of its customers at prices less than those specified in this Agreement or the Proposal, the City shall receive the benefit of those lower prices for any equipment, Software, maintenance, training or documentation received subsequently, and the costs for services and equipment specified in the Proposal or this Agreement shall be reduced accordingly. Contractors must request price adjustments, in writing, 30 calendar days prior to the renewal or termination date of the Agreement. If a Contractor fails to request a price adjustment, no price adjustment request will be permitted until 30 calendar days prior to the next or following renewal or termination date of the Agreement. No retroactive Agreement price adjustments will be allowed. The Contractor shall provide the City CIO clear and convincing evidence, satisfactory to the City, that all of the following conditions exist: 1) The increase is the result of increased costs outside the Contractor’s control and not cost under the Contractor’s control, and that; 2) The increase will not produce a higher profit margin for the Contractor than that on the original Agreement. Price adjustments will be made in accordance with the percentage change in the U.S. Department of Labor Consumer Price Index (CPI-U) for All Urban Consumers, All Items, and Midwest region as defined by the Federal Government. The price adjustment rate will be determined by comparing the percentage difference between the CPI in effect for the base year six month average of JULY THROUGH DECEMBER 2023; and each January through June OR July through December six month average thereafter. The percentage difference between those two CPI issues will be the price adjustment rate.