Extraordinary Adjustments. Notwithstanding the Annual Adjustment referenced above, should it be deemed necessary in order to maintain or enhance competitiveness, or address current operational, recruitment, or retention challenges at any Division covered by this Agreement, the ERRC may vary the Annual Adjustment in an amount and/or format different from that described above.
Extraordinary Adjustments. In addition to the annual adjustment provided by subsection (b) above, the Rates shall, upon written request of Company, be further adjusted to fully capture increased expenses and lost revenue associated with performance of the Collection Services hereunder due to any one or more of the following causes:
Extraordinary Adjustments. In the event that, subsequent to the date of this Agreement but prior to the Effective Time, (x) the Company changes the number of Shares, or Parent changes the number of Parent Ordinary Shares (other than as a result of converting Series K Shares of Parent into Series A shares of Parent as elsewhere described herein), issued and outstanding as a result of a stock split, stock combination, dividend of stock or other securities (or a record date within such period with respect to such a dividend), recapitalization, redenomination of share capital or other similar transaction, the Exchange Ratio and other items dependent thereon shall be appropriately adjusted to provide to the holders of Shares the same economic effect and percentage ownership of Parent Ordinary Shares as contemplated by this Agreement prior to such stock split, stock combination, dividend, recapitalization, redenomination or similar transaction, or (y) the Company changes the number of Shares issued and outstanding or issues additional Company Options, the Exchange Ratio and other items dependent thereon shall be appropriately adjusted.
Extraordinary Adjustments. Company may request an adjustment to maximum rates at reasonable times other than that allowed under Section 5.3 and 5.4 of this Agreement in the event of extraordinary changes in the cost of providing service under this Agreement. Extraordinary rate adjustments may be requested no more than once per year, and if approved, will be implemented at the same time as the next regularly scheduled rate adjustment under Section 5.4 effective July 1. No adjustments may be made for inaccurate estimates by Company of its proposed cost of operations, unionization of Company’s workforce, change in wage rates or employee benefits. City will permit an adjustment to the rate based on an increase or decrease in a direct per ton surcharge assessed at the Disposal site or transfer station by federal, State or local regulatory agencies after the Effective Date of this Agreement, to the extent the percentage change in these adjustments exceed the cumulative percentage change in the total rate granted under Section 5.4 since the Effective Date. For each request for an adjustment to the maximum rates that Company may charge Customers brought pursuant to this section, Company shall prepare a schedule documenting the extraordinary costs. Such request shall be prepared in a form acceptable to City with support for assumptions made by Company in preparing the estimate. Company shall also submit a schedule showing how its total costs and total revenues have changed over the past three years for the services provided under this Agreement. Upon a request by City, Company shall provide a copy of Company’s annual financial statements in connection with City’s review of Company’s rate adjustment request. City may review tonnage reports and all other applicable documentation to determine the accuracy of the rate adjustment request, including the tonnage to which it applies, the impact on Customer rates, and any other issues City determines to be relevant to this review. City shall review Company’s request and, in City’s sole judgment and absolute discretion, make the final determination as to whether an adjustment to the maximum rates will be made, and, if an adjustment is permitted, the appropriate amount of the adjustment, subject to the provisions of Section 2.8. City may consider increases or decreases in Company’s total revenues and total cost of services when reviewing an extraordinary rate adjustment request. In the event the City requires changed or additional services, additional ...
Extraordinary Adjustments. In addition to the adjustments provided above, the Rates shall, upon written request of Licensee, be further adjusted to fully capture increased expenses and lost revenue associated with performance of the collection services hereunder due to any one or more of the following causes:
i. Uncontrollable Circumstance (see Section 10);
ii. Changes in Applicable Law that is effective after the Effective Date of this Agreement;
iii. Increase in surcharges, fees, assessments or taxes levied by federal, state or local regulatory authorities or other governmental entities related to the collection services;
iv. Changes in baseline assumptions, such as changes in volumes collected and changes in the amount of container contamination;
v. Increase in the cost of transportation, including fuel and third-party transportation costs, as determined by reference to the Energy Information Administration of the U.S. Department of Energy's ("EIA/DOE") Weekly Retail on Highway Diesel Prices for the U.S.
vi. Changes in the cost of labor as determined by the U.S. Bureau of Labor Standards, Employment Cost Index CIU20100005200000I, Total compensation, Private industry, Transportation and material moving, Collective Bargaining Agreement or Actual Labor and Benefits Increases (or an equivalent).
vii. Changes in the cost of equipment as determined by the U.S. Bureau of Labor Standards, Producer Price Index, PCU336120336120, Heavy duty truck manufacturing and costs arising from supply chain impacts (or an equivalent).
viii. Any other extraordinary circumstances or causes or reasons that are not within the reasonable control of Licensee. If Licensee requests a Rate adjustment pursuant to this Section 5(D), it shall prepare a Rate adjustment request setting forth its calculations of the increased costs/lost revenue and accompanying adjustment to the Rates necessary to offset such increased costs/lost revenue. The City may request documentation and data reasonably necessary to evaluate such request by Licensee, and may retain, at its own expense, an independent third party to audit and review such documentation and request. If such third party is retained, the City shall take reasonable steps, consistent with Applicable Law, to protect the confidential or proprietary nature of any data or information supplied by Licensee. The City shall approve all properly calculated Rate adjustments within ninety (90) days of Licensee’s request, and the adjusted Rates shall be deemed to take effect as o...
Extraordinary Adjustments. In addition to the adjustments provided above, Not more than once every 12 months, WM may request that the City Council consider a cost increase necessitated by uncontrollable circumstances set forth in section 1 (V) and not covered by the CPI revisions set forth in section 6 (B). The City Council may grant all or a portion of such requested increase in its sole discretion. WM reserves the right if all or a portion of such requested increase is unreasonably denied to terminate the current agreement with a 180 day written notification to the City Manager Licensee may request City approval of an increase to the Rates in the event of uncontrollable circumstances as defined in Section 1 (v) beyond Licensee’s reasonable control increase Licensee’s costs or reduce its revenue. Such circumstances include, but are not necessarily limited to, Uncontrollable Circumstances, changes in Applicable Law, and increases in governmental fees, charges or taxes (an “Extraordinary Event”). Licensee requests for extraordinary Rate adjustments shall include: (i) calculations and supporting information of increased costs and/or lost revenue associated with the Extraordinary Event, and (ii) the adjustments to Rates necessary to offset such increased costs and/or lost revenue. The City may request additional documentation and data reasonably necessary to evaluate such request by Licensee, and may retain, at its own expense, an independent third party to audit and review such documentation and request. If such third party is retained, the City shall take reasonable steps, consistent with Applicable Law, to protect the confidential or proprietary nature of any data or information supplied by Licensee. The City shall not delay or withhold approval of extraordinary Rate adjustment requests where Licensee has provided information required above.
Extraordinary Adjustments. Contractor and City acknowledge that there may be infrequent 992 extraordinary events, including Change of Law, which, although they do not prevent either party from 993 performing, and thus do not implicate the force majeure provisions hereof, nevertheless increase the cost of 994 providing services above the Section 6.04 Maximum Service Rate Adjustment. The obligation of the parties 995 in such event is to act reasonably toward each other in arriving at an appropriate adjustment in rates. 996 Accordingly, at its option, Contractor may apply to the City not more frequently than once annually, for an 997 extraordinary rate adjustment should an event or circumstance arise which negatively impacts the economic 998 operation of Contractor and which is in excess of the rate adjustment resulting from the application of Section 999 6.04. An extraordinary adjustment in rates will be deemed justified if it is necessary for the Contractor to 1000 make a substantial change in its operations, or substantial capital expenditure or investment in order to 1001 perform its obligations under this Agreement due to the occurrence of an event or circumstance which is 1002 beyond the reasonable control of Contractor. Extraordinary rate adjustments shall only be effective after 1003 approval by the City Council. 1004 6.07.1 Contractor’s Burden. In the event of such an application for an extraordinary rate 1005 increase, it is understood that the Contractor shall have the burden of demonstrating to the reasonable 1006 satisfaction of the City the basis for the extraordinary increase cost. Contractor shall bear the burden of 1007 justifying its request and shall be solely responsible for the cost of preparing and submitting sufficient 1008 documentation in support of its request. City in its sole reasonable discretion may request Contractor to 1009 provide any additional information it deems necessary to fully evaluate the request, and Contractor shall be 1010 solely responsible for the cost to of providing such additional information. Contractor shall allow City to 1011 review a report of its annual revenues and expenses for the services provided in the City prepared by a 1012 Certified Public Accountant or a licensed public accountant, which shall have been prepared in compliance 1013 with Rule 58 of the “Rules and Regulations of the State Board of Accountancy,” as established by the 1014 California Code of Regulations, Title 16, Chapter I (“Financial Statements”). Such Certif...
Extraordinary Adjustments. Contractor or City may request an adjustment to rates at times other than that required in Section 8.3 for unusual changes in the cost of providing service under this Agreement. Such changes may include, but are not limited to, changes in laws, ordinances, or regulations, and significant changes in Contractor's workload due to new residential or commercial development. However, when an extraordinary adjustment is requested, such adjustment shall consider changes in all costs and revenues from Contractor's proposed revenue requirement. Deleted: <object> Deleted: ¶ Deleted: Section Break (Next Page) RECORDS, REPORTS AND INFORMATION, STUDIES AND HEARING REQUIREMENTS¶ For each such request, Contractor shall prepare a schedule comparing the original proposed costs and revenues by line item to the then current costs and revenues, including an estimates of the cost impact of the change, using an operating ratio of 93%, applied to Contractor's costs as calculated in Contractor's proposed revenue requirement. Such request shall be prepared in a form acceptable to City with support for assumptions made by Contractor in preparing the estimate, Contractor and City shall negotiate a mutually acceptable adjustment amount.
Extraordinary Adjustments. Deleted: Contractor Deleted: Contractor Franchisee or City may request an adjustment to rates at times other than that required in Section 8.3 for unusual changes in the cost of providing service under this Agreement. Such changes may include, but are not limited to, changes in laws, ordinances, or regulations, and significant changes in Franchisee's workload due to new residential or commercial development. However, when an extraordinary adjustment is requested, such adjustment shall consider changes in all costs and revenues from Franchisee's proposed revenue requirement.
Extraordinary Adjustments. Deleted: Contractor Deleted: Contractor Franchisee or City may request an adjustment to rates at times other than that required in Section 8.3 for unusual changes in the cost of providing service under this Agreement. Such changes may include, but are not limited to, changes in laws, ordinances, or regulations, and significant changes in Franchisee's workload due to new residential or commercial development. However, when an extraordinary adjustment is requested, such adjustment shall consider changes in all costs and revenues from Franchisee's proposed revenue requirement. For each such request, Franchisee shall prepare a schedule comparing the original proposed costs and revenues by line item to the then current costs and revenues, including an estimates of the cost impact of the change, using an operating ratio of 93%, applied to Franchisee's costs as calculated in Franchisee's proposed revenue requirement. Such request shall be prepared in a form acceptable to City with support for assumptions made by Franchisee in preparing the estimate, Franchisee and City shall negotiate a mutually acceptable adjustment amount.
