Common use of Local Currency Adjustment Clause in Contracts

Local Currency Adjustment. The total portion of the amounts payable to Vendor hereunder which are specified as due and payable in Local Currency shall be indexed to the Indice Geral de Precos de Mercado as published by Fundacao Getulio Vargas, xx xxx xxuivalent if such index is xxx xxxxxxxxx (the "NCPI"). If, on the first day of any calendar year during the term of this Agreement, the NCPI for the calendar month immediately preceding such day (the "NCPI Current Index") is higher than the NCPI (i) one year prior thereto, or (ii) in the event Vendor and Customer have modified the Agreement during such year in the manner as described below, the date of such adjustment (as applicable, the "NCPI Base Index"); then, effective as of the first day of such calendar year, all amounts specified in this Agreement as due from Customer to Vendor in Local Currency, as previously adjusted pursuant to this Section, shall be increased by the percentage that the NCPI Current Index increased from the NCPI Base Index. If at any time during a calendar year the NCPI Current Index increases by ten percent (10%) or more over the NCPI Base Index, then upon notice to Customer by Vendor, Vendor and Customer shall immediately meet and renegotiate such Local Currency portion of the pricing of this Agreement in good faith, taking into consideration such change in the NCPI, with the intention of preserving the same financial circumstances of the Local Currency portion of the pricing as intended by the parties on the Commencement Date. Any such modification of the pricing mutually agreed shall be set forth in a written amendment to this Agreement signed by each party. For purposes of clarity, it is acknowledged that the intent of the parties is that any such amounts payable by Customer to Vendor in Local Currency will be modified periodically as appropriate in accordance with this paragraph, applying any such changes in the NCPI for the appropriate period to the pricing for this Agreement, as such pricing may have been previously modified pursuant to this paragraph, so that such adjustments have cumulative effect with respect to all changes in the NCPI from the Commencement Date through termination of this Agreement.

Local Currency Adjustment. The total portion of the amounts payable to Vendor hereunder which are specified as due and payable in Local Currency shall be indexed to the Indice Geral de Precos de Mercado del Nucleo Inflacionario as published by Fundacao Getulio Vargasthe Central Bank of Costa Rica, xx xxx xxuivalent or the equivalent if such index is xxx xxxxxxxxx not available (the "NCPI"). If, on the first day of any calendar year during the term of this Agreement, the NCPI for the calendar month immediately preceding such day (the "NCPI Current IndexCURRENT INDEX") is higher than the NCPI (i) one year prior thereto, or (ii) in the event Vendor and Customer have modified the Agreement has made an immediate adjustment during such year in the manner as described below, the date of such adjustment (as applicable, the "NCPI Base Index"); then, effective as of the first day of such calendar year, all amounts specified in this Agreement as due from Customer to Vendor in Local Currency, as previously adjusted pursuant to this Section, shall be increased by the percentage that the NCPI Current Index increased from the NCPI Base Index. If at any time during a calendar year the NCPI Current Index increases by ten percent (10%) or more over the NCPI Base Index, then upon by notice to Customer by VendorCustomer, Vendor and Customer shall may immediately meet and renegotiate such Local Currency increase the portion of the pricing of amount payable to Vendor in Local Currency under this Agreement in good faithby such percentage, taking into consideration such change in without waiting until the NCPI, with the intention of preserving the same financial circumstances first day of the Local Currency portion of the pricing as intended by the parties on the Commencement Date. Any such modification of the pricing mutually agreed shall be set forth in a written amendment to this Agreement signed by each partynext calendar year. For purposes of clarity, it is acknowledged that the intent of the parties is that any such amounts payable by Customer to Vendor in Local Currency will be modified periodically as appropriate in accordance with this paragraph, applying any such changes in the NCPI for the appropriate period to the pricing for this Agreement, as such pricing may have been previously modified pursuant to this paragraph, so that such adjustments have cumulative effect with respect to all changes in the NCPI from the Commencement Date through termination of this Agreement.

Local Currency Adjustment. The total portion of the amounts payable to Vendor hereunder which are specified as due and payable in Local Currency shall be indexed to the Indice Geral de Precos de Mercado National Consumer Price Index as published by Fundacao Getulio Vargasthe Central Bank of Nicaragua or the Instituto Nicaraguense de Estadisticas y Censos, xx xxx xxuivalent or the equivalent if such index is xxx xxxxxxxxx not available (the "NCPI"). If, on the first day of any calendar year during the term of this Agreement, the NCPI for the calendar month immediately preceding such day (the "NCPI Current IndexCURRENT INDEX") is higher than the NCPI (i) one year prior thereto, or (ii) in the event Vendor and Customer have modified the Agreement has made an immediate adjustment during such year in the manner as described below, the date of such adjustment (as applicable, the "NCPI Base Index"); then, effective as of the first day of such calendar year, all amounts specified in this Agreement as due from Customer to Vendor in Local Currency, as previously adjusted pursuant to this Section, shall be increased by the percentage that the NCPI Current Index increased from the NCPI Base Index. If at any time during a calendar year the NCPI Current Index increases by ten percent (10%) or more over the NCPI Base Index, then upon by notice to Customer by VendorCustomer, Vendor and Customer shall may immediately meet and renegotiate such Local Currency increase the portion of the pricing of amount payable to Vendor in Local Currency under this Agreement in good faithby such percentage, taking into consideration such change in without waiting until the NCPI, with the intention of preserving the same financial circumstances first day of the Local Currency portion of the pricing as intended by the parties on the Commencement Date. Any such modification of the pricing mutually agreed shall be set forth in a written amendment to this Agreement signed by each partynext calendar year. For purposes of clarity, it is acknowledged that the intent of the parties is that any such amounts payable by Customer to Vendor in Local Currency will be modified periodically as appropriate in accordance with this paragraph, applying any such changes in the NCPI for the appropriate period to the pricing for this Agreement, as such pricing may have been previously modified pursuant to this paragraph, so that such adjustments have cumulative effect with respect to all changes in the NCPI from the Commencement Date through termination of this Agreement.

Local Currency Adjustment. The total portion of the amounts payable to Vendor hereunder which are specified as due and payable in Local Currency shall be indexed to the Indice Geral de Precos de Mercado Consumer Price Index] as published by Fundacao Getulio Vargasthe Central Bank of Venezuela in the Official Gazette, xx xxx xxuivalent or the equivalent if such index is xxx xxxxxxxxx not available (the "NCPI"). If, on the first day of any calendar year during the term of this Agreement, the NCPI for the calendar month immediately preceding such day (the "NCPI Current IndexCURRENT INDEX") is higher than the NCPI (i) one year prior thereto, or (ii) in the event Vendor and Customer have modified the Agreement has made an immediate adjustment during such year in the manner as described below, the date of such adjustment (as applicable, the "NCPI Base Index"); then, effective as of the first day of such calendar year, all amounts specified in this Agreement as due from Customer to Vendor in Local Currency, as previously adjusted pursuant to this Section, shall be increased by the percentage that the NCPI Current Index increased from the NCPI Base Index. If at any time during a calendar year the NCPI Current Index increases by ten percent (10%) or more over the NCPI Base Index, then upon by notice to Customer by VendorCustomer, Vendor and Customer shall may immediately meet and renegotiate such Local Currency increase the portion of the pricing of amount payable to Vendor in Local Currency under this Agreement in good faithby such percentage, taking into consideration such change in without waiting until the NCPI, with the intention of preserving the same financial circumstances first day of the Local Currency portion of the pricing as intended by the parties on the Commencement Date. Any such modification of the pricing mutually agreed shall be set forth in a written amendment to this Agreement signed by each partynext calendar year. For purposes of clarity, it is acknowledged that the intent of the parties is that any such amounts payable by Customer to Vendor in Local Currency will be modified periodically as appropriate in accordance with this paragraph, applying any such changes in the NCPI for the appropriate period to the pricing for this Agreement, as such pricing may have been previously modified pursuant to this paragraph, so that such adjustments have cumulative effect with respect to all changes in the NCPI from the Commencement Date through termination of this Agreement.

Local Currency Adjustment. The total portion of the amounts payable to Vendor hereunder which are specified as due and payable in Local Currency shall be indexed to the Indice Geral de Precos de Mercado Inflacion index as published by Fundacao Getulio Vargasthe Bank of Guatemala , xx xxx xxuivalent or the equivalent if such index is xxx xxxxxxxxx not available (the "NCPI"). If, on the first day of any calendar year during the term of this Agreement, the NCPI for the calendar month immediately -- Panamco / EDS Confidential -- preceding such day (the "NCPI Current Index") is higher than the NCPI (i) one year prior thereto, or (ii) in the event Vendor and Customer have modified the Agreement has made an immediate adjustment during such year in the manner as described below, the date of such adjustment (as applicable, the "NCPI Base Index"); then, effective as of the first day of such calendar year, all amounts specified in this Agreement as due from Customer to Vendor in Local Currency, as previously adjusted pursuant to this Section, shall be increased by the percentage that the NCPI Current Index increased from the NCPI Base Index. If at any time during a calendar year the NCPI Current Index increases by ten percent (10%) or more over the NCPI Base Index, then upon by notice to Customer by VendorCustomer, Vendor and Customer shall may immediately meet and renegotiate such Local Currency increase the portion of the pricing of amount payable to Vendor in Local Currency under this Agreement in good faithby such percentage, taking into consideration such change in without waiting until the NCPI, with the intention of preserving the same financial circumstances first day of the Local Currency portion of the pricing as intended by the parties on the Commencement Date. Any such modification of the pricing mutually agreed shall be set forth in a written amendment to this Agreement signed by each partynext calendar year. For purposes of clarity, it is acknowledged that the intent of the parties is that any such amounts payable by Customer to Vendor in Local Currency will be modified periodically as appropriate in accordance with this paragraph, applying any such changes in the NCPI for the appropriate period to the pricing for this Agreement, as such pricing may have been previously modified pursuant to this paragraph, so that such adjustments have cumulative effect with respect to all changes in the NCPI from the Commencement Date through termination of this Agreement.

Local Currency Adjustment. The total portion of the amounts payable to Vendor hereunder which are specified as due and payable in Local Currency shall be indexed to the Indice Geral de Precos de Mercado National Consumer Price Index as published by Fundacao Getulio Vargasthe National Planning Department, xx xxx xxuivalent or the equivalent if such index is xxx xxxxxxxxx not available (the "NCPI"). If, on the first day of any calendar year during the term of this Agreement, the NCPI for the calendar month immediately preceding such day (the "NCPI Current IndexCURRENT INDEX") is higher than the NCPI (i) one year prior thereto, or (ii) in the event Vendor and Customer have modified the Agreement has made an immediate adjustment during such year in the manner as described below, the date of such adjustment (as applicable, the "NCPI Base Index"); then, effective as of the first day of such calendar year, all amounts specified in this Agreement as due from Customer to Vendor in Local Currency, as previously adjusted pursuant to this Section, shall be increased by the percentage that the NCPI Current Index increased from the NCPI Base Index. If at any time during a calendar year the NCPI Current Index increases by ten percent (10%) or more over the NCPI Base Index, then upon by notice to Customer by VendorCustomer, Vendor and Customer shall may immediately meet and renegotiate such Local Currency increase the portion of the pricing of amount payable to Vendor in Local Currency under this Agreement in good faithby such percentage, taking into consideration such change in without waiting until the NCPI, with the intention of preserving the same financial circumstances first day of the Local Currency portion of the pricing as intended by the parties on the Commencement Date. Any such modification of the pricing mutually agreed shall be set forth in a written amendment to this Agreement signed by each partynext calendar year. For purposes of clarity, it is acknowledged that the intent of the parties is that any such amounts payable by Customer to Vendor in Local Currency will be modified periodically as appropriate in accordance with this paragraph, applying any such changes in the NCPI for the appropriate period to the pricing for this Agreement, as such pricing may have been previously modified pursuant to this paragraph, so that such adjustments have cumulative effect with respect to all changes in the NCPI from the Commencement Date through termination of this Agreement.