PAYMENT OF PRICE REVISION Sample Clauses

PAYMENT OF PRICE REVISION. Price revision adjustments of fixed prices to take account of changed economic conditions shall be made by applying the relevant price revision provisions contained in Appendix A. The financial basis for revisions shall be the nominal amount of the milestone payment. When claiming price revision, the amount of escalation shall be invoiced in two steps. Firstly, on a provisional basis at the time of the corresponding milestone payment becoming due and secondly, when submitting the final invoice. The final calculation shall be derived after completion of the last payment milestone and on availability of final indices, as specified in Appendix A. The provisional claims shall be calculated by using the Preliminary yearly Escalation Factors as defined in Appendix A. After completion of the last payment milestone of the relevant milestone payment plan and upon availability of the published final index values for the last milestone, the Contractor shall submit its (and have its Sub-contractors submit their) final recapitulative invoice or credit note for the price revision corresponding to all the milestones of that milestone payment plan with the supporting evidence and showing any credits or debits. The supporting evidence may be submitted separately to the invoices. Exceptionally, the Agency may agree that the above mentioned final recapitulative invoice or credit note be submitted earlier. The final price revision shall be calculated using the relevant agreed price revision formula as shown in Appendix A. When claiming price revision, the invoice documents shall include sufficient evidence of correct application of the price revision formulae. If the Contractor and/or any of the Sub-contractors is late in meeting the nominal date agreed for achievement of a milestone, the price revision shall apply to the nominal and not to the actual achievement date of the milestone.
Sample 1Sample 2
AutoNDA by SimpleDocs
PAYMENT OF PRICE REVISION. Price revision adjustments of fixed prices shall be made by applying the relevant price revision provisions contained in Appendix1. The financial basis for revisions shall be the nominal amount as defined in the milestone payment plan of Appendix 1. For each achieved Milestone two invoices will be submitted, one for the FP amount defined in the Milestone Payment Plan of the Contract Appendix 1 and one for the calculated variation (Escalation) amount calculated as follows. When claiming price revision, the following shall apply :
Sample 1

Related to PAYMENT OF PRICE REVISION

  • Adjustment of Price The State shall adjust the total contract price by subtracting from the total contract price an amount determined in the following manner: The State shall cause the timber sale area subject to governmental regulation or order to be measured. The State shall calculate the percentage of the total sale area subject to the governmental regulation or order. The State shall reduce the total contract price by that calculated percentage. However, variations in species, value, costs, or other items pertaining to the affected sale area will be analyzed and included in the adjustment if deemed appropriate by the State. The State will further reduce the total contract price by the reasonable cost of unamortized roads Purchaser constructed but was unable to fully use for removing timber. A reduction in total contract price terminates all of the Purchaser's rights to purchase and remove the timber and all other interest in the affected sale area.

  • Payment of Premium Unless otherwise agreed in writing by the Parties, the Buyer shall be obligated to pay the Premium related to an Option no later than its Premium Payment Date.

  • Statement of Principle The parties acknowledge the following provisions are to protect the rights of employees during pregnancy and on their return to employment following parental leave.

  • Cost of Printing The cost of printing this Agreement will be shared equally by the Board and the Association.

  • Payment of Premiums Each Borrower shall punctually pay all premiums or other sums payable in respect of the obligatory insurances effected by it and produce all relevant receipts when so required by the Security Trustee.

  • Payment of Purchase Price The Purchase Price shall be paid as follows:

  • Statement of Principles The Employer and the Union agree that there shall be no discrimination by the Employer or the Union against employees because of race, color, creed, religion, national origin, sex, age, or marital status. In addition, consistent with the other provisions of this Agreement, there shall be no unlawful discrimination against employees, as prohibited by the Rehabili- tation Act of 1973 or the Vietnam Era Veterans’ Readjustment Assistance Act of 1974.

  • Payment of Prevailing Wages The Contractor and all Subcontractors under the Contractor shall pay all workers on all Work performed pursuant to this Contract not less than the general prevailing rate of per diem wages and the general prevailing rate for holiday and overtime work as determined by the Director of the Department of Industrial Relations, State of California, for the type of work performed and the locality in which the work is to be performed within the boundaries of the District, pursuant to sections 1770 et seq. of the California Labor Code.

  • PROFIT AS A SEPARATE ELEMENT OF PRICE For purchases using federal funds in excess of ,000, a Customer may be required to negotiate profit as a separate element of the price. See, 2 CFR 200.323(b). Contractor agrees to provide information and negotiate with the Customer regarding profit as a separate element of the price for the purchase. Contractor also agrees that the total price, including profit, charged by Contractor to Customer will not exceed the awarded pricing, including any applicable discount, under any awarded contract.

  • Payment of Fee The cash management fee referred to in Clause 9.1 (Fee Payable) shall only be payable to the Current Issuer Cash Manager on each Payment Date in the manner contemplated by, in accordance with and subject to the provisions of the Current Issuer Pre-Enforcement Revenue Priority of Payments or, as the case may be, the Current Issuer Post-Enforcement Priority of Payments.

Time is Money Join Law Insider Premium to draft better contracts faster.