Payment Adjustment Events & Payment Adjustment Sample Clauses

Payment Adjustment Events & Payment Adjustment. 7.2.1 The payments (other than the first payment) payable by the Primary Implementing Agency to the Concessionaire on each O&M Amount Payment Date shall be subject to adjustment based on the occurrence of specific events (the "Payment Adjustment Events"). The Payment Adjustment Events and the method of calculating any adjustment to payments shall be as agreed between the Parties or provided under this contract. The Payment Adjustment Events and the calculation method shall be reviewed and updated by the Parties at least once per year. 7.2.2 The payment Adjustment shall not be made in the next immediate bi-annual period but shall be made in the payment due for the bi-annual thereafter.