ECONOMIC ADJUSTMENTS Clause Samples

The Economic Adjustments clause allows for modifications to contract terms in response to significant changes in economic conditions, such as inflation, currency fluctuations, or changes in material costs. Typically, this clause outlines the specific triggers for adjustment, the process for calculating revised prices or payments, and the documentation required to support any changes. Its core practical function is to ensure that both parties are protected from unforeseen economic shifts that could otherwise make the contract unfair or unworkable, thereby maintaining the contract’s balance and viability over time.
ECONOMIC ADJUSTMENTS. All pricing must be guaranteed for the first year of the Cooperative Purchasing Master Agreement. Following the guarantee period, any request for price increases must be for an equal guarantee period (1 year), and must be submitted to the Lead State at least thirty (30) calendar days prior to the effective date. The Lead State will review a documented request for an MSRP price list increase only after the Price Guarantee Period. Requests for price increases must include sufficient documentation supporting the request and demonstrating the reasonableness of the adjustment when comparing the current price list to the proposed price list. Documentation may include: the manufacturer’s national price increase announcement letter, a complete and detailed description of what products are increasing and by what percentage, a complete and detailed description of what raw materials and/or other costs have increased and provide proof of increase, index data and other information to support and justify the increase. The price increase must not produce a higher profit margin than the original contract, and must be accompanied by sufficient documentation and nationwide notice of price adjustment to the published manufacturer’s price list. No retroactive price increases will be allowed. Price Reductions. In the event of a price decrease in any category of product at any time during the contract in an OEM’s published manufacturer’s price list, including renewal options, the Lead State shall be notified immediately. All published manufacturer’s price list price reductions shall be effective upon the notification provided to the Lead State. Enterprise Services reserves the right to request clarification and justification for requested Economic Adjustments. Economic Price Adjustment requests for January 1st through June 30th must be submitted to Lead State Contract Administrator by June 1st to be eligible for product updates effective July 1st. Product updates for July 1st through December 31st must be submitted to the Lead State Contract Administrator by December 1st to be eligible for product updates effective January 1st. Semi-Annual Submitted By Effective Date January 1-June 30 June 1st July 1st July 1-December 31 December 1st January 1st
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ECONOMIC ADJUSTMENTS. Matters relating to base salary increases and other economic considerations during the term of this agreement shall be as set forth in Addendum A annexed.
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ECONOMIC ADJUSTMENTS. 12.1 The price for the first year in this Agreement shall be adjusted on an annual basis effective on the anniversary date of this Agreement, and increased not less than 8% annually, except for one-year or less contract, based on the proportionate increase of the current hourly labor cost for elevator technician during normal business hours, including technician’s regular benefits and subsidies. Pricing may also increase or decrease in the event the equipment is modified from its present state. 8%
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ECONOMIC ADJUSTMENTS. The House did not include any positive economics adjustments in the components of the LARA budget that the Governor and Senate transferred to DIFS. The Conference included these adjustments. 1,338,400 5. Line Item Rollups. The Governor provided one program line item in the DIFS budget. The Conference expanded this item into five line items and created three additional line items in the Administration unit of the budget. These line item changes resulted in no net funding change to the Department. 0 FY 2013-14 INSURANCE AND FINANCIAL SERVICES BUDGET S.B. 189 (CR-1): CONFERENCE REPORT WHIT XT
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ECONOMIC ADJUSTMENTS a) CATEGORY 1&2- PRODUCT AND PRICE CHANGES. Prior to changing products or pricing, Contractor must send the Contract Administrator a complete list of changes sixty (60) days prior to any changes being made. Changes will not be made without the approval of the Contract Administrator. Contractor may not change the percent discount. Prices must be based on the current printed catalog or Manufacturer’s Suggested Retail Price (MSRP) list. Although Contractor may offer lower prices to Purchasers, during the term of this Contract, Contractor guarantees to provide the Goods at no greater than the prices set forth in Exhibit B –Prices (subject to economic adjustment as set forth herein).
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ECONOMIC ADJUSTMENTS. Casual Employees receive 12% in lieu of fringe benefits added to their hourly rates as shown in Schedule A. The Employer agrees to pass on any wage enhancement grants or operational increases provided by the Ministry of Children and Youth Services during the term of this agreement. Conversely, if the Employer should no longer receive any wage enhancement grants employees would be paid at their base rates. The employer agrees to increase base rates by 2% effective January 1, 2009. In addition the employer agrees to disburse, as a one time payout, the difference between any wage improvement grant received in 2009 and the portion of this grant that has already been added to base pay in 2007, 2008 and 2009.
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ECONOMIC ADJUSTMENTS. Beginning November will be based on percentage markups of the Prevailing Wage rates as specified by the Washington State Department of Labor and Industries and agreed upon by the Contractor in Exhibit B Prices. These percentage markups shall remain in effect for the life of the contract and not subject to change. The prevailing wage rates are available on the Washington State Department of Labor and Industries website (▇▇▇▇▇://▇▇▇▇▇▇.▇▇▇.▇▇.▇▇▇/wagelookup/) according in accordance with the percentage change in the United States Department of Labor, Bureau of Labor and Statistics (BLS) Produce Price Index (PPI), Commodity Group Commercial and Other Goods Moving Services Item Code CEU6054162001 for Environmental consulting services. The percentage difference between the PPI issued at the effective date of the Master Contract, and the PPI issued on September 1, 2024 will determine the maximum allowable adjustment of original contract prices. Thereafter the percentage difference between the PPI issued on September 1, 2024 and the PPI issued on September 1, 2026 will determine the maximum allowable adjustment of contract prices. No retroactive contract price adjustments will be allowed. The economic adjustment shall be calculated as follows: New Price = Old Price x (Current Period Index/Base Period Index) 2. PAY EQUALITY. The following provision is added to the end of section 18 (General Provisions) as a new subsection:
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ECONOMIC ADJUSTMENTS. Shell’s failure to achieve the Peak Availability Target or the Off Peak Availability Target shall result in the payments expressly provided in this Agreement but, without limiting the effect of Sections 11.5(d), 11.5(f), 11.5(g), 11.5(h), 11.5(i), and 11.5(j), shall not constitute a breach of this Agreement.
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Related to ECONOMIC ADJUSTMENTS

  • ECONOMIC ADJUSTMENT Beginning twelve (12) months after the effective date of this Contract and for every annual anniversary thereafter, the prices set forth in Exhibit B – Prices for Equipment Rental shall be adjusted, based upon the percent changes (whether up or down) in the United States Department of Labor, Bureau of Labor and Statistics (BLS) indices described below, for the most recent year. Economic adjustment shall lag one (1) calendar quarter past the Contract commencement date to allow for publication of BLS data. All calculations for the index shall be based upon the latest version of data published as of the most recent quarter. Prices shall be adjusted on the quarter following the price adjustment. Price adjustments will be made in accordance with the percentage change in the United States Department of Labor, Bureau of Labor and Statistics (BLS) Producer Price Index (PPI), for Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing Industry, NAICS 532412, issued for the prior 12 months of each contract term. The percentage difference in the PPI for the prior 12 months will determine the maximum allowable adjustment of original contract prices. No retroactive contract price adjustments shall be allowed. If an index is recoded (i.e., the recoded index is a direct substitute for the prior index according to the BLS), this Contract will use the recoded index, as applicable. If an index becomes unavailable, Enterprise Services shall substitute a proxy index. If there is not a direct substitute, the next higher aggregate index available will be used. The economic adjustment shall be calculated as follows: New Price = Old Price x (Current Period Index/Base Period Index). Contractor shall not make contract extensions contingent on price adjustments.

  • Tax Adjustments The Company may make such reductions in the Purchase Price, in addition to those required by Sections 3, 4, 5, 6, 7 and 8, as the Board of Directors considers to be advisable to avoid or diminish any income tax to holders of Common Stock or rights to purchase Common Stock resulting from any dividend or distribution of stock (or rights to acquire stock) or from any event treated as such for income tax purposes.

  • True-Up Adjustments From time to time, until the Retirement of the Recovery Bonds, the Servicer shall identify the need for True-Up Adjustments and shall take all reasonable action to obtain and implement such True-Up Adjustments, all in accordance with the following:

  • Market Adjustments Neither this Article nor any other in this Collective Agreement prevents the Employer from using other funds to increase a Member’s salary in response to offers received from other employers or to accommodate other market forces.

  • Capital Adjustments (a) The existence of the Option shall not affect in any way the right or power of the Corporation or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations, or other changes in the Corporation's capital structure or the Corporation’s business, or any merger or consolidation of the Corporation or any issue of bonds, debentures, preferred stock having a preference to or affecting the Corporation’s capital stock or the rights thereof, or the issuance of any securities convertible into any such capital stock or of any rights, options, or warrants to purchase any such capital stock, or the dissolution or liquidation of the Corporation, any sale or transfer of all or any part of the Corporation’s assets or business, or any other act or proceeding of the Corporation, whether of a similar character or otherwise. (b) The securities with respect to which the Option is granted are shares of the $.001 par value common stock of the Corporation as presently constituted, but if and whenever, prior to the delivery by the Corporation of all the shares of the $.001 par value common stock with respect to which the Option is granted, the Corporation shall effect a subdivision or consolidation of shares or other capital readjustment, the payment of a stock dividend, or other increase or reduction of the number of shares of such common stock issued and outstanding without receiving compensation therefore in money, services, or property, the number of shares of such common stock then remaining subject to the Option shall (a) in the event of an increase in the number of outstanding shares of such common stock, be proportionately increased, and the cash consideration payable per share of such common stock shall be proportionately reduced; and (b) in the event of a reduction in the number of outstanding shares of such common stock, be proportionately reduced, and the cash consideration payable per share of such common stock shall be proportionately increased.