Common use of Eligibility for Insurance Rate Increase Relief Clause in Contracts

Eligibility for Insurance Rate Increase Relief. The BOE shall determine annually whether the Contractor shall be eligible prospectively for partial or total suspension of the two percent (2%) prompt payment discount on the basis of the Contractor’s submittal of written proof of sufficient insurance cost increases per vehicle and per employee, as applicable. The Contractor must submit an “Insurance Rate Increase Claim Statement,” as hereinafter defined, by not later than October 15th of each Extension Year. The extent of the discount suspension, if any, shall be governed by the provisions hereinafter expressed at Paragraph (I)(4), et seq.

Eligibility for Insurance Rate Increase Relief. The BOE shall determine annually whether the Contractor shall be eligible prospectively for partial or total suspension of the two percent (2%) prompt payment discount on the basis of the Contractor’s 's submittal of written proof of sufficient insurance cost increases per vehicle and per employee, as applicable. The Contractor must submit an “"Insurance Rate Increase Claim Statement,” " as hereinafter defined, by not later than October 15th 1 SO of each Extension Year. The extent of the discount suspension, if any, shall be governed by the provisions hereinafter expressed at Paragraph (I)(4H)(4), et seq.

Eligibility for Insurance Rate Increase Relief. The BOE shall determine annually whether the Contractor shall be eligible prospectively for partial or total suspension of the two percent (2%) prompt payment discount on the basis of the Contractor’s 's submittal of written proof of sufficient insurance cost increases per vehicle and per employee, as applicable. The Contractor must submit an “"Insurance Rate Increase Claim Statement,” " as hereinafter defined, by not later than October 15th of each Extension Year. The extent of the discount suspension, if any, shall be governed by the provisions hereinafter expressed at Paragraph (I)(4), et seq.

Eligibility for Insurance Rate Increase Relief. The BOE shall determine annually whether the Contractor shall be eligible prospectively for partial or total suspension of the two percent (2%) prompt payment discount on the basis of the Contractor’s submittal of written proof of sufficient insurance cost increases per vehicle and per employee, as applicable. The Contractor must submit an “Insurance Rate Increase Claim Statement,” as hereinafter defined, by not later than October 15th of each Extension Year. The extent of the discount suspension, if any, shall be governed by the provisions hereinafter expressed at Paragraph (I)(4H)(4), et seq.