Common use of Escalation of Storage Charge Clause in Contracts

Escalation of Storage Charge. 15.2.1. The Storage Charge shall be revised annually with effect from April 1 every year to reflect the variation in Price Index occurring between the Reference Index Date for January of the year in which COD occurs and the Reference Index Date for the month of January preceding the Accounting Year for which such revision is undertaken. 15.2.2. The Variable Charge shall be revised annually with effect from April 1 every year to reflect the variation in Price Index occurring between the Reference Index Date for January of the year in which COD occurs and the Reference Index Date for the month of January preceding the Accounting Year for which such revision is undertaken. 15.2.3. The Handling Charges shall be revised annually with effect from April 1 every year to reflect the variation in CPI (IW) to the extent of 80% (eighty per cent) thereof, occurring between the Reference Index Date for January of the year in which COD occurs and the Reference Index Date for the month of January preceding the Accounting Year for which such revision is undertaken.