Escalation Clause. In the event of a product cost increase, an escalation request will be submitted for review to the NMDOT on an individual basis. This measure is not intended to allow any increase in profit margin, but is solely intended to allow compensation for actual cost increases directly related to bid items. To facilitate prompt consideration, all requests for price increase must include all information listed below:
Escalation Clause. If a rent rate change to Basic or Note Rate Rent is approved by Rural Development prior to the expiration of your lease, due to changes in project operating costs, your net contribution may be adjusted. Your tenant contribution may also be changed prior to the expiration of the lease due to changes in tenant status or failure to properly recertify. Form RD 3560-8, Tenant Certification, will be completed to document the changes in Net Tenant Contribution. The following conditions would not cause a change in the tenant’s Net Tenant Contribution: 1) Monetary or non-monetary default of the Owner. 2) Suspension, Cancellation, or Termination of Federal subsidies (Rental Assistance or Interest Credit) paid to the owner or management agent on behalf of the tenant. 3) Prepayment of the Agency loan by the Owner. 4) Foreclosure, liquidation, or acceleration of the Owner’s Promissory Note.
Escalation Clause. Defendant estimates that the Class consists of 83,341 workweeks, and this Settlement was reached based on approximately 83,341 workweeks. Should the number of workweeks increase by more than ten percent (10%) by December 31, 2021, this will increase the Gross Settlement Amount proportionally over the ten percent (10%) increase. For example, if the number of workweeks increases by eleven percent (11%), the Gross Settlement Amount will increase by one percent (1%). Likewise, if the number of workweeks increases by twelve percent (12%), the Gross Settlement Amount will increase by two percent (2%). [SIGNATURES ON NEXT PAGE]
Escalation Clause. Should market conditions prevail which dictate an increase, the successful contractor may submit documentation requesting permission to increase pricing no later than 30 days after receiving notice from the City of its intent to extend the agreement. Escalation may only occur at the time of renewal and only upon securing the approval of the City in writing. Requests for price adjustments must be solely for the purpose of accommodating an increase in the contractor’s cost, not profits. Vendors shall show in this quote their anticipated percent of escalation if/when the option to extend is exercised. The percent quoted will be a maximum. In addition, the percentage proposed will be a factor in determining the best value to the City. It is the average price over the period of the contract that will be the price factor considered in the evaluation of this quote. Quotes in which negative or no escalation is shown will be considered as 0% escalation.
Escalation Clause. The Management shall reserve the right to increase the rent during the term of this lease upon a 30 day written notice to the Tenant. The Tenant shall approve or reject this proposal in writing within seven days of receipt. Upon rejection, the Management may, at its option, cause the Termination Date to be accelerated to a date not less than 30 days following the date of rejection as stated in writing.
Escalation Clause. Any annual pricing increases will be calculated using the Consumer Price Index as published by the US Department of Labor – Bureau of Labor Statistics schedule of the South Urban Region. Any resulting increase/decrease will be effective on July 1 each year of the Contract based on the previous December annual percentage. No annual adjustment shall exceed five percent (5%).
Escalation Clause. Upon the anniversary date of this Contract, the terms and conditions of the Contract regarding pay rates may be modified by the Parties up to the increase in the cost of living in the Washington, D.C. metropolitan area during the previous twelve (12) months.
Escalation Clause. The Annual Broker Service Fee, Commission Percentage, Maximum Annual Commission, and Additional Services hourly rates shall remain fixed through the three-year term of the Agreement. In the event the parties mutually agreed to extend the Agreement, the maximum escalation rate for the Annual Broker Service Fee and the Additional Services hour rates shall be no more than 5 percent for year 4 and for year 5. The Commission Percentage and Maximum Annual Commission shall remain unchanged. Invoices and Payment Procedures: All invoices shall be sent to the RMD. Invoices for the quarterly service fee, computed as one-fourth of the Annual Broker Service Fee, shall be paid within seven days after receipt of a correct invoice and approval by the RMD. Invoices for premiums shall be paid within seven days after receipt of acceptable insurance documents and approval by the RMD. The invoices shall be deemed to be correct and approved unless written objection is received by Contractor within ten days of receipt of the invoices by the City. Payments to the Contractor will be by electronic payment, whenever practicable for the City.
Escalation Clause. 1. In the event that the applicable New York State Labor Law establishing the Prevailing Wage Rates for services performed under this Contract is increased during the term of this Contract, Contractor may request a contract modification to address such payroll modifications and related contract expenditures. Any request for such change should be submitted in writing to the OCBM/Director of Contracts, along with any official notification and documentation supporting the modification request. Upon receipt of all necessary oversight approvals and subject to the availability of funding, the Contract Manager will prepare a contract modification.
