Material Escalation Clause Samples
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Material Escalation. Prices quoted in the Proposal are subject to review and adjustment in the event of a price escalation incurred by the Seller for material or equipment costs which is greater than 5% of the price quoted in the Proposal. The Seller shall provide the Buyer written notice of such change and supporting documentation, and the Buyer shall have 5 days following such notice to issue an amendment to the purchase order, failing which the Buyer shall be deemed to have consented to such price increase.
Material Escalation. The total cost in the proposal submitted by Contractor for metal is $***** per Casing. This amount will be escalated/deescalated based on American Metals Market (a▇▇.▇▇▇) index for steel base pricing, specifically listed under Steel Base Prices, Plate-Carbon Grade Plate, National M▇▇▇▇, cut to length, using the average of the past three months for the next three months usage. The Base Index shall be $*****. On the first working day of each quarter, Contractor will calculate the cost of metal for the next three months deliveries the price of which will be adjusted accordingly. *****.
Material Escalation. If, during Contractor's performance of the Work, the price of materials or equipment significantly increases, through no fault of Contractor, the original Contract Sum shall be increased by Change Order for the entire increase in the price of such materials or equipment. As used herein, a significant price increase shall mean any increase in price exceeding Ten (10%) percent, based on actual costs experienced by Contractor from the Date of Commencement. Such increases in actual costs shall be documented through quotes, invoices, or receipts.