Common use of Economic Change Adjustment Clause in Contracts

Economic Change Adjustment. ‌ Beginning with the start of Contract Year 2 and each anniversary of such date thereafter during the Term (the “ECA Adjustment Date”), Service Provider shall calculate and apply an adjustment to the Inflation Sensitive Charges based upon economic changes (an “Economic Change Adjustment” or “ECA”) as described in this Section 14. Service Provider’s entitlement to an ECA is conditioned upon the Service Provider providing DIR the calculation of the ECA for each Inflation Sensitive Charge sixty (60) days in advance of the ECA Adjustment Date and applying the ECA to the first Monthly Invoice for the applicable ECA Adjusted Year. DIR and Service Provider shall use the average of the six (6) months ending May unadjusted Consumer Price Index, as published in the Summary Data from the Consumer Price Index News Release by the Bureau of Labor Statistics, U.S. Department of Labor, For All Urban Consumers (the “CPI-U”), for purposes of determining the Effective Rate of Inflation. In the event the Bureau of Labor Statistics stops publishing the CPI-U or substantially changes its content and format, DIR and Service Provider shall substitute another comparable index published at least annually by a mutually agreeable source. The baseline index for purposes of calculating the ECA shall be the CPI-U for the average of the six (6) months ending May of the previous year (the “Previous Year Index”). If the Bureau of Labor Statistics merely redefines the base year for the Price Index from 1982-84 to another year, DIR and Service Provider will continue to use CPI-U, but will convert the Previous Year Index by using an appropriate conversion formula. Beginning with the start of Contract Year 2 and continuing each Contract Year thereafter for the remainder of the Term, the actual CPI-U for the average of the six

Appears in 5 contracts

Samples: publishingext.dir.texas.gov, pubext.dir.texas.gov, pubext.dir.texas.gov

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Economic Change Adjustment. Beginning with the start of Contract Year 2 and each anniversary of such date thereafter during the Term (the “ECA Adjustment Date”), Service Provider shall calculate and apply an adjustment to the Inflation Sensitive Charges based upon economic changes (an “Economic Change Adjustment” or “ECA”) as described in this Section 1413. Service Provider’s entitlement to an ECA is conditioned upon the Service Provider providing DIR the calculation of the ECA for each Inflation Sensitive Charge sixty (60) days in advance of the ECA Adjustment Date and applying the ECA to the first Monthly Invoice for the applicable ECA Adjusted Year. DIR and Service Provider shall use the average of the six (6) months ending May unadjusted Consumer Price Index, as published in the Summary Data from the Consumer Price Index News Release by the Bureau of Labor Statistics, U.S. Department of Labor, For All Urban Consumers (the “CPI-U”), for purposes of determining the Effective Rate of Inflation. In the event the Bureau of Labor Statistics stops publishing the CPI-U or substantially changes its content and format, DIR and Service Provider shall substitute another comparable index published at least annually by a mutually agreeable source. The baseline index for purposes of calculating the ECA shall be the CPI-U for the average of the six (6) months ending May of the previous year (the “Previous Year Index”). If the Bureau of Labor Statistics merely redefines the base year for the Price Index from 1982-84 to another year, DIR and Service Provider will continue to use CPI-U, but will convert the Previous Year Index by using an appropriate conversion formula. Beginning with the start of Contract Year 2 and continuing each Contract Year thereafter for the remainder of the Term, the actual CPI-U for the average of the six

Appears in 4 contracts

Samples: Master Services Agreement, Master Service Agreement, pubext.dir.texas.gov

Economic Change Adjustment. Beginning with the start of Contract Year 2 and each anniversary of such date thereafter during the Term (the “ECA Adjustment Date”), Service Provider shall calculate and apply an adjustment to the Inflation Sensitive Charges based upon economic changes (an “Economic Change Adjustment” or “ECA”) as described in this Section 14. Service Provider’s entitlement to an ECA is conditioned upon the Service Provider providing DIR the calculation of the ECA for each Inflation Sensitive Charge sixty (60) days in advance of the ECA Adjustment Date and applying the ECA to the first Monthly Invoice for the applicable ECA Adjusted Year. DIR and Service Provider shall use the average of the six (6) months ending May unadjusted Consumer Price Index, as published in the Summary Data from the Consumer Price Index News Release by the Bureau of Labor Statistics, U.S. Department of Labor, For All Urban Consumers (the “CPI-U”), for purposes of determining the Effective Rate of Inflation. In the event the Bureau of Labor Statistics stops publishing the CPI-U or substantially changes its content and format, DIR and Service Provider shall substitute another comparable index published at least annually by a mutually agreeable source. The baseline index for purposes of calculating the ECA shall be the CPI-U for the average of the six (6) months ending May of the previous year (the “Previous Year Index”). If the Bureau of Labor Statistics merely redefines the base year for the Price Index from 1982-84 to another year, DIR and Service Provider will continue to use CPI-U, but will convert the Previous Year Index by using an appropriate appropriate, cost neutral conversion formula. Beginning with the start of Contract Year 2 and continuing each Contract Year thereafter for the remainder of the Term, the actual CPI-U for the average of the six

Appears in 4 contracts

Samples: Master Services Agreement, Master Services Agreement, publishingext.dir.texas.gov

Economic Change Adjustment. ‌ Beginning with the start of Contract Year 2 and each anniversary of such date thereafter during the Term (the “ECA Adjustment Date”), Service Provider shall calculate and apply an adjustment to the Inflation Sensitive Charges based upon economic changes (an “Economic Change Adjustment” or “ECA”) as described in this Section 1413. Service Provider’s entitlement to an ECA is conditioned upon the Service Provider providing DIR the calculation of the ECA for each Inflation Sensitive Charge sixty (60) days in advance of the ECA Adjustment Date and applying the ECA to the first Monthly Invoice for the applicable ECA Adjusted Year. DIR and Service Provider shall use the average of the six (6) months ending May unadjusted Consumer Price Index, as published in the Summary Data from the Consumer Price Index News Release by the Bureau of Labor Statistics, U.S. Department of Labor, For All Urban Consumers (the “CPI-U”), for purposes of determining the Effective Rate of Inflation. In the event the Bureau of Labor Statistics stops publishing the CPI-U or substantially changes its content and format, DIR and Service Provider shall substitute another comparable index published at least annually by a mutually agreeable source. The baseline index for purposes of calculating the ECA shall be the CPI-U for the average of the six (6) months ending May of the previous year (the “Previous Year Index”). If the Bureau of Labor Statistics merely redefines the base year for the Price Index from 1982-84 to another year, DIR and Service Provider will continue to use CPI-U, but will convert the Previous Year Index by using an appropriate conversion formula. Beginning with the start of Contract Year 2 and continuing each Contract Year thereafter for the remainder of the Term, the actual CPI-U for the average of the six

Appears in 3 contracts

Samples: Master Service Agreement, publishingext.dir.texas.gov, pubext.dir.texas.gov

Economic Change Adjustment. Beginning with the start of Contract Year 2 and each anniversary of such date thereafter during the Term (the “ECA Adjustment Date”), Service Provider shall calculate and apply an adjustment to the Inflation Sensitive Charges based upon economic changes (an “Economic Change Adjustment” or “ECA”) as described in this Section 14. Service Provider’s entitlement to an ECA is conditioned upon the Service Provider providing DIR the calculation of the ECA for each Inflation Sensitive Charge sixty (60) days in advance of the ECA Adjustment Date and applying the ECA to the first Monthly Invoice for the applicable ECA Adjusted Year. DIR and Service Provider shall use the average of the six (6) months ending May unadjusted Consumer Price Index, as published in the Summary Data from the Consumer Price Index News Release by the Bureau of Labor Statistics, U.S. Department of Labor, For All Urban Consumers (the “CPI-U”), for purposes of determining the Effective Rate of Inflation. In the event the Bureau of Labor Statistics stops publishing the CPI-U or substantially changes its content and format, DIR and Service Provider shall substitute another comparable index published at least annually by a mutually agreeable source. The baseline index for purposes of calculating the ECA shall be the CPI-U for the average of the six (6) months ending May of the previous year (the “Previous Year Index”). If the Bureau of Labor Statistics merely redefines the base year for the Price Index from 1982-84 to another year, DIR and Service Provider will continue to use CPI-U, but will convert the Previous Year Index by using an appropriate conversion formula. Beginning with the start of Contract Year 2 and continuing each Contract Year thereafter for the remainder of the Term, the actual CPI-U for the average of the six

Appears in 3 contracts

Samples: pubext.dir.texas.gov, publishingext.dir.texas.gov, pubext.dir.texas.gov

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Economic Change Adjustment. Beginning with the start of Contract Year 2 and each anniversary of such date thereafter during the Term (the “ECA Adjustment Date”), Service Provider shall calculate and apply an adjustment to the Inflation Sensitive Charges based upon economic changes (an “Economic Change Adjustment” or “ECA”) as described in this Section 14. ECA shall be applied to Mainframe RUs, Server RUs described in Section 19.9, Section 19.5(b), and rate card Services through the Term and all Server RUs through Contract Year 5. Service Provider’s entitlement to an ECA is conditioned upon the Service Provider providing DIR the calculation of the ECA for each Inflation Sensitive Charge sixty (60) days in advance of the ECA Adjustment Date and applying the ECA to the first Monthly Invoice for the applicable ECA Adjusted Year. DIR and Service Provider shall use the average of the six (6) months ending May unadjusted Consumer Price Index, as published in the Summary Data from the Consumer Price Index News Release by the Bureau of Labor Statistics, U.S. Department of Labor, For All Urban Consumers (the “CPI-U”), for purposes of determining the Effective Rate of Inflation. In the event the Bureau of Labor Statistics stops publishing the CPI-U or substantially changes its content and format, DIR and Service Provider shall substitute another comparable index published at least annually by a mutually agreeable source. The baseline index for purposes of calculating the ECA shall be the CPI-U for the average of the six (6) months ending May of the previous year (the “Previous Year Index”). If the Bureau of Labor Statistics merely redefines the base year for the Price Index from 1982-84 to another year, DIR and Service Provider will continue to use CPI-U, but will convert the Previous Year Index by using an appropriate conversion formula. Beginning with the start of Contract Year 2 and continuing each Contract Year thereafter for the remainder of the Term, the actual CPI-U for the average of the six

Appears in 3 contracts

Samples: pubext.dir.texas.gov, pubext.dir.texas.gov, pubext.dir.texas.gov

Economic Change Adjustment. ‌ Beginning with the start of Contract Year 2 and each anniversary of such date thereafter during the Term (the “ECA Adjustment Date”), Service Provider shall calculate and apply an adjustment to the Inflation Sensitive Charges based upon economic changes (an “Economic Change Adjustment” or “ECA”) as described in this Section 14. Service Provider’s entitlement to an ECA is conditioned upon the Service Provider providing DIR the calculation of the ECA for each Inflation Sensitive Charge sixty (60) days in advance of the ECA Adjustment Date and applying the ECA to the first Monthly Invoice for the applicable ECA Adjusted Year. DIR and Service Provider shall use the average of the six (6) months ending May unadjusted Consumer Price Index, as published in the Summary Data from the Consumer Price Index News Release by the Bureau of Labor Statistics, U.S. Department of Labor, For All Urban Consumers (the “CPI-U”), for purposes of determining the Effective Rate of Inflation. In the event the Bureau of Labor Statistics stops publishing the CPI-U or substantially changes its content and format, DIR and Service Provider shall substitute another comparable index published at least annually by a mutually agreeable source. The baseline index for purposes of calculating the ECA shall be the CPI-U for the average of the six (6) months ending May of the previous year (the “Previous Year Index”). If the Bureau of Labor Statistics merely redefines the base year for the Price Index from 1982-84 to another year, DIR and Service Provider will continue to use CPI-U, but will convert the Previous Year Index by using an appropriate appropriate, cost neutral conversion formula. Beginning with the start of Contract Year 2 and continuing each Contract Year thereafter for the remainder of the Term, the actual CPI-U for the average of the six

Appears in 2 contracts

Samples: pubext.dir.texas.gov, pubext.dir.texas.gov

Economic Change Adjustment. Beginning with the start of Contract Year 2 and each anniversary of such date thereafter during the Term (the “ECA Adjustment Date”), Service Provider shall calculate and apply an adjustment to the Inflation Sensitive Charges based upon economic changes (an “Economic Change Adjustment” or “ECA”) as described in this Section 14. ECA shall be applied to Mainframe RUs, Server RUs described in Section 19.9, and rate card Services through the Term and all Server RUs through Contract Year 5. Service Provider’s entitlement to an ECA is conditioned upon the Service Provider providing DIR the calculation of the ECA for each Inflation Sensitive Charge sixty (60) days in advance of the ECA Adjustment Date and applying the ECA to the first Monthly Invoice for the applicable ECA Adjusted Year. DIR and Service Provider shall use the average of the six (6) months ending May unadjusted Consumer Price Index, as published in the Summary Data from the Consumer Price Index News Release by the Bureau of Labor Statistics, U.S. Department of Labor, For All Urban Consumers (the “CPI-U”), for purposes of determining the Effective Rate of Inflation. In the event the Bureau of Labor Statistics stops publishing the CPI-U or substantially changes its content and format, DIR and Service Provider shall substitute another comparable index published at least annually by a mutually agreeable source. The baseline index for purposes of calculating the ECA shall be the CPI-U for the average of the six (6) months ending May of the previous year (the “Previous Year Index”). If the Bureau of Labor Statistics merely redefines the base year for the Price Index from 1982-84 to another year, DIR and Service Provider will continue to use CPI-U, but will convert the Previous Year Index by using an appropriate conversion formula. Beginning with the start of Contract Year 2 and continuing each Contract Year thereafter for the remainder of the Term, the actual CPI-U for the average of the six

Appears in 1 contract

Samples: publishingext.dir.texas.gov

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