Common use of EXTRAORDINARY RATE ADJUSTMENTS Clause in Contracts

EXTRAORDINARY RATE ADJUSTMENTS. 38.6.1 Once each Operating Year, before April 1, the Contractor may petition the Manager for a Rate adjustment on the basis of extraordinary or unusual changes in the cost of its operations that could not reasonably be foreseen by a prudent Person. Contractor’s petition shall contain a detailed justification for the Rate adjustment. Among other things, the Contractor's petition shall include an audited statement of Contractor's historical and current expenses, demonstrating that Contractor has incurred an extraordinary increase in Contractor's costs due to factors beyond the Contractor's control, which have occurred through no fault or negligence of the Contractor. The audited statement shall be prepared by a certified public accountant that is licensed in the State of Florida and not an employee of the Contractor or its affiliates. At its expense, the City may audit the Contractor's records to evaluate the Contractor's request. The Manager may request, and upon request, the Contractor shall provide, all of the information that is reasonably necessary for the Manager to evaluate the Contractor's petition. After receiving the requested information, the Manager shall place the Contractor’s petition and the Manager’s recommendations on the agenda for one of the Commission’s public meetings. The Contractor shall be given a reasonable opportunity at the Commission’s meeting to explain the basis for its petition. 38.6.2 The Commission shall xxxxx, xxxxx in part, or deny the Contractor’s request in a timely manner. The Commission may deny the Contractor’s request for any reason the Commission deems appropriate. The Commission’s decision shall be final and non-appealable. 38.6.3 If the Contractor's request is granted in whole or in part, the Commission shall have the right to reduce the Contractor's Rates, if and to the extent that the factors causing the Contractor's price increase have been ameliorated or eliminated. Every twelve

EXTRAORDINARY RATE ADJUSTMENTS. 38.6.1 38.5.1 Once each Operating Agreement Year, before April 1, the Contractor may petition the County Manager for a Rate adjustment on the basis of extraordinary or unusual changes in the cost of its operations that could not reasonably be foreseen by a prudent Person. Contractor’s petition shall contain a detailed justification for the Rate adjustment. Among other things, the Contractor's petition shall include an audited statement of Contractor's historical and current expenses, demonstrating that Contractor has incurred an extraordinary increase in Contractor's costs due to factors beyond the Contractor's control, which have occurred through no fault or negligence of the Contractor. The audited statement shall be prepared by a certified public accountant that is licensed in the State of Florida and not an employee of the Contractor or its affiliates. At its expense, the City County may audit the Contractor's records to evaluate the Contractor's request. The County Manager may requestrequest from the Contractor, and upon request, the Contractor shall provide, all of the information that is reasonably necessary for the County Manager to evaluate the Contractor's petition. After receiving . 38.5.2 If the requested information, the County Manager shall place denies part or all of the Contractor’s petition and request for a Rate adjustment, the Manager’s recommendations on Contractor may request a hearing before the agenda for one of Board. Upon request, the Commission’s Board shall provide the Contractor with an opportunity to present its request to the Board at a duly noticed public meetingsmeeting. The Contractor Board shall be given a reasonable opportunity at the Commission’s meeting to explain the basis for its petition. 38.6.2 The Commission shall xxxxx, xxxxx in part, approve or deny the Contractor’s request in within sixty (60) calendar days after the Board receives the Contractor's request for a timely mannerhearing. The Commission Board may deny the Contractor’s request for any reason or no reason, in its sole discretion, as the Commission Board deems appropriate. The CommissionBoard’s decision shall be final and non-appealable. 38.6.3 38.5.3 If the Contractor's request is granted in whole or in part, the Commission Board shall have the right to reduce the Contractor's Rates, if and to the extent that the factors causing the Contractor's price increase have been ameliorated or eliminated. Every twelvetwelve (12) months after a request is granted, the Director shall have the right to request, and the Contractor shall prepare promptly upon request, an updated audit and explanation of whether the extraordinary Rate increase should remain in effect. The Board may reduce the Contractor’s Rates if the Contractor does not timely submit adequate information to justify the continued payment of the extraordinary Rate increase.

EXTRAORDINARY RATE ADJUSTMENTS. 38.6.1 Once each Operating Year, before April 1, the Contractor The CONTRACTOR may petition the Manager CITY in writing at reasonable times other than that allowed under 10.4 (Annual Rate Adjustment) for a Rate an adjustment on the basis of extraordinary or unusual changes in the cost maximum rates due to (i) extraordinary circumstances beyond the CONTRACTOR’s control, or (ii) due to new programs and services requested by CITY as provided herein. The CONTRACTOR shall provide documentation and analysis to the satisfaction of its CITY of the reasons for such adjustment. Petitions regarding extraordinary circumstances beyond the CONTRACTOR’s control shall satisfy all of the following conditions: (i) materially alters CONTRACTOR’s operations that or overall costs; (ii) could not reasonably be have been foreseen by a prudent Personoperator; and (iii) by all reasonable expectations will continue for a period of at least six (6) months. ContractorSuch changes shall not include changes in the market value of Recyclables or inaccurate estimates by the CONTRACTOR of its cost of operations. The CONTRACTOR’s petition request shall contain a detailed substantial proof and justification to support the need for the Rate adjustment. Among other things, For each request brought pursuant to this section CONTRACTOR shall prepare a schedule documenting the Contractor's petition shall include an audited statement of Contractor's historical and current expenses, demonstrating that Contractor has incurred an extraordinary increase in Contractor's costs due to factors beyond the Contractor's control, which have occurred through no fault or negligence of the Contractorcosts. The audited statement Such request shall be prepared in a form acceptable to the CITY with support for assumptions made by the CONTRACTOR in preparing the estimate. The CONTRACTOR shall also submit a certified public accountant that schedule showing how its total costs and total revenues have changed over the past two years for the services provided under this Agreement. The CITY may request from the CONTRACTOR such further information as it deems necessary to fully evaluate the request and make its determination. CITY may request a copy of the CONTRACTOR’s annual financial statements in connection with the CITY’s review of the CONTRACTOR’s rate adjustment request. CITY shall review the CONTRACTOR’s request and, in Board’s sole judgment and absolute, unfettered discretion, make the final determination as to whether an adjustment to the maximum rates will be made, and, if an adjustment is licensed permitted, the appropriate amount of the adjustment. The Board may consider increases or decreases in the State CONTRACTOR’s total revenues and total cost of Florida and not services when reviewing an employee of the Contractor or its affiliates. At its expense, the City may audit the Contractor's records to evaluate the Contractor's extraordinary rate adjustment request. The Manager may request, and upon request, the Contractor shall provide, all of the information that is reasonably necessary for the Manager to evaluate the Contractor's petition. After receiving the requested information, the Manager shall place the Contractor’s petition CITY and the Manager’s recommendations on CONTRACTOR may make changes in the agenda service levels under this Agreement sufficient to avoid the need for one of a rate adjustment. Extraordinary rate adjustments shall only be effective after approval by the Commission’s public meetings. The Contractor shall Board and may not be given a reasonable opportunity at the Commission’s meeting to explain the basis for its petitionapplied retroactively. 38.6.2 The Commission shall xxxxx, xxxxx in part, or deny the Contractor’s request in a timely manner. The Commission may deny the Contractor’s request for any reason the Commission deems appropriate. The Commission’s decision shall be final and non-appealable. 38.6.3 If the Contractor's request is granted in whole or in part, the Commission shall have the right to reduce the Contractor's Rates, if and to the extent that the factors causing the Contractor's price increase have been ameliorated or eliminated. Every twelve

EXTRAORDINARY RATE ADJUSTMENTS. 38.6.1 Once each Operating Year, before April 1, the Contractor ‌ The CONTRACTOR may petition the Manager CITY in writing at times other than that allowed under 10.4 (Annual Rate Adjustment) for a Rate an adjustment on the basis of extraordinary or unusual changes in the cost maximum rates due to (i) extraordinary circumstances beyond the CONTRACTOR’s reasonable control, or (ii) due to new programs and services requested by CITY as provided herein. The CONTRACTOR shall provide documentation and analysis to the satisfaction of its CITY of the reasons for such adjustment. Petitions regarding extraordinary circumstances beyond the CONTRACTOR’s control shall satisfy all of the following conditions: (i) materially alters CONTRACTOR’s operations that or overall costs; (ii) could not reasonably be have been foreseen by a prudent Personoperator; and (iii) by all reasonable expectations will continue for a period of at least six (6) months. ContractorSuch changes shall not include changes in the market value of Recyclables or inaccurate estimates by the CONTRACTOR of its cost of operations. The CONTRACTOR’s petition request shall contain a detailed substantial proof and justification to support the need for the Rate adjustment. Among other things, For each request brought pursuant to this section CONTRACTOR shall prepare a schedule documenting the Contractor's petition shall include an audited statement of Contractor's historical and current expenses, demonstrating that Contractor has incurred an extraordinary increase in Contractor's costs due to factors beyond the Contractor's control, which have occurred through no fault or negligence of the Contractorcosts. The audited statement Such request shall be prepared in a form reasonably acceptable to the CITY with support for assumptions made by the CONTRACTOR in preparing the estimate. The CONTRACTOR shall also submit a certified public accountant that schedule showing how its total costs and total revenues have changed over the past two years for the services provided under this Agreement. The CITY may request from the CONTRACTOR such further information as reasonably necessary to fully evaluate the request and make its determination. CITY may request a copy of the CONTRACTOR’s annual financial statements in connection with the CITY’s review of the CONTRACTOR’s rate adjustment request. CITY shall review the CONTRACTOR’s request and, in Board’s sole judgment and absolute, unfettered discretion, make the final determination as to whether an adjustment to the maximum rates will be made, and, if an adjustment is licensed permitted, the appropriate amount of the adjustment. The Board may consider increases or decreases in the State CONTRACTOR’s total revenues and total cost of Florida and not services when reviewing an employee of the Contractor or its affiliates. At its expense, the City may audit the Contractor's records to evaluate the Contractor's extraordinary rate adjustment request. The Manager may request, and upon request, the Contractor shall provide, all of the information that is reasonably necessary for the Manager to evaluate the Contractor's petition. After receiving the requested information, the Manager shall place the Contractor’s petition CITY and the Manager’s recommendations on CONTRACTOR may agree to make changes in the agenda service levels under this Agreement sufficient to avoid the need for one of a rate adjustment. Extraordinary rate adjustments shall only be effective after approval by the Commission’s public meetings. The Contractor shall Board and may not be given a reasonable opportunity at the Commission’s meeting to explain the basis for its petitionapplied retroactively. 38.6.2 The Commission shall xxxxx, xxxxx in part, or deny the Contractor’s request in a timely manner. The Commission may deny the Contractor’s request for any reason the Commission deems appropriate. The Commission’s decision shall be final and non-appealable. 38.6.3 If the Contractor's request is granted in whole or in part, the Commission shall have the right to reduce the Contractor's Rates, if and to the extent that the factors causing the Contractor's price increase have been ameliorated or eliminated. Every twelve