Index Adjustment Clause Samples
The Index Adjustment clause defines how changes to a referenced index, such as a financial benchmark or market rate, are handled within a contract. Typically, this clause outlines procedures for adjusting contractual terms if the index is discontinued, replaced, or materially altered, and may specify alternative indices or adjustment mechanisms to maintain the contract’s economic intent. Its core function is to ensure continuity and fairness in contractual obligations by addressing the risk of index changes that could otherwise disrupt or invalidate the agreement.
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Index Adjustment. On July 1st of each year during the Term, Carrier shall adjust the Priority Rate by the Fee Adjustment Multiplier in effect as of such date.
Index Adjustment. The rent shall be index-adjusted on April 1st of each year, strictly in accordance with developments in the consumer prices index in Belgium, the so-called "health" index; the basic index figure considered shall be that of March 2000.
Index Adjustment. On each anniversary of the Effective Date, Carrier shall adjust the Priority Rate by the Fee Adjustment Multiplier in effect as of such date.
Index Adjustment. As defined in Subsection 13.10(a)(iii).
Index Adjustment. Intentionally omitted.
Index Adjustment. In the event Lessee exercises the First Extension Option and, if applicable, the Second Extension Option, the amount of Minimum Monthly Rent payable by Lessee to Lessor shall be increased annually commencing as of the end of the sixth (6th) Lease year during the Lease Term ("Adjustment Date"). The increase in the amount of Minimum Monthly Rent shall be based upon the increase in the Index. On each Adjustment Date, the Minimum Monthly Rent shall be increased by a percentage equal to the percentage increase in the most recent Index in publication prior to the Adjustment Date over the most recent Index in publication prior to the previous Adjustment Date. In no event, however, shall the Minimum Monthly Rent be increased less than two and one-half percent (2.5%) or more than seven percent (7%) over the Minimum Monthly Rent in effect prior to the applicable Adjustment Date. Lessor shall give written notice to Lessee specifying the increase in the amount of Minimum Monthly Rent and the manner in which such increase was calculated by Lessor. Lessor's notice may be given after the effective date of any such increase by virtue of the fact that the Index for the appropriate month may be unavailable on such effective date, or for other reasons. In such event, Lessee shall pay Minimum Monthly Rent in the amount applicable to the previous Lease Year until such time as Lessor delivers to Lessee its written notice. Upon receipt of such written notice, Lessee shall pay to Lessor, within ten (10) days after the date of receipt of such notice, the total amount of the adjustment to Minimum Monthly Rent for the months elapsed between the effective date of the increase and the date of receipt of Lessor's notice ("Index Adjustment").
Index Adjustment. The hourly price for services, ongoing payment and other prices may be changed at the end of each year in accordance with the increase in Statistics Norway’s consumer price index (the total index), initially based on the index for the month in which the Agreement was entered into, unless another index has been agreed in Appendix 7.
Index Adjustment. The Base Fee and Tonnage Fee shall be adjusted annually per the procedures in Appendix 5.