Market-Related Contract Term Addition. The term of this contract may be adjusted when a drastic reduction in wood product prices has oc- curred in accordance with 36 CFR 223.52. The Pro- ducer Price Index used to determine when a drastic re- duction in price has occurred is stated in A20. Contrac- tor will be notified whenever the Chief determines that a drastic reduction in wood product prices has occurred. If the drastic reduction criteria specified in 36 CFR 223.52 are met for 2 consecutive calendar quarters, af- ter contract award date, Contracting Officer will add 1 year to the contract term, upon Contractor’s written re- quest. For each additional consecutive quarter such a drastic reduction occurs, Contracting Officer will, upon written request, add an additional 3 months to the term during Normal Operating Season. Contracting Officer must receive Contractor’s written request for a market- related contract term addition before the expiration of this contract. The total amount of contract term addition is limited to the lesser of twice the length of the original contract or 3 years. The revised contract term may not exceed 10 years as a result of market-related contract term ad- dition. Additional contract time may not be granted for those portions of the contract that have a required com- pletion date or for those portions of the contract where Contracting Officer determines that the timber is in need of urgent removal or that timber deterioration or re- source damage will result from delay.
Appears in 6 contracts
Samples: Integrated Resource Timber Contract, Integrated Resource Timber Contract, Integrated Resource Timber Contract
