Common use of Price Adjustment on Extension of the Initial Contract Period Clause in Contracts

Price Adjustment on Extension of the Initial Contract Period. 13.1 The Contract Price shall be firm for the Initial Contract Period. In the event that the Authority agrees to extend the Initial Contract Period pursuant to clause 31 the Authority shall, in the six (6) Month period prior to the expiry of the Initial Contract Period, enter into good faith negotiations with the Contractor (for a period of not more than thirty (30) Working Days) to agree a variation in the Contract Price. 13.2 If the Parties are unable to agree a variation in the Contract Price in accordance with clause 13.1, the Contract shall terminate at the end of the Initial Contract Period. 13.3 If a variation in the Contract Price is agreed between the Authority and the Contractor, the revised Contract Price will take effect from the first day of any period of extension and shall apply during such period of extension. 13.4 Any increase in the Contract Price pursuant to clause 13.1 shall not exceed the percentage change in the Office of National Statistics’ Consumer Prices Index ("CPI") (or such other index specified in the Pricing and Payment Schedule) between the Commencement Date and the date six (6) Months before the end of the Initial Contract Period.

Price Adjustment on Extension of the Initial Contract Period. 13.1 13.1. The Contract Price shall be firm for the Initial Contract Period. In the event that the Authority agrees to extend the Initial Contract Period pursuant to clause 31 the Authority shall, in the six (6) Month period prior to the expiry of the Initial Contract Period, enter into good faith negotiations with the Contractor (for a period of not more than thirty (30) Working Days) to agree a variation in the Contract Price. 13.2 13.2. If the Parties are unable to agree a variation in the Contract Price in accordance with clause 13.1, the Contract shall terminate at the end of the Initial Contract Period. 13.3 13.3. If a variation in the Contract Price is agreed between the Authority and the Contractor, the revised Contract Price will take effect from the first day of any period of extension and shall apply during such period of extension. 13.4 13.4. Any increase in the Contract Price pursuant to clause 13.1 shall not exceed the percentage change in the Office of National Statistics’ Consumer Prices Index ("CPI") (or such other index specified in the Pricing and Payment Schedule) between the Commencement Date and the date six (6) Months before the end of the Initial Contract Period.

Price Adjustment on Extension of the Initial Contract Period. 13.1 13.1. The Contract Price shall be firm for the Initial Contract Period. In the event that the Authority agrees to extend the Initial Contract Period pursuant to clause 31 the Authority shall, in the six (6) Month period prior to the expiry of the Initial Contract Period, enter into good faith negotiations with the Contractor (for a period of not more than thirty forty-five (3045) Working Days) to agree a variation in the Contract Price. 13.2 13.2. If the Parties are unable to agree a variation in the Contract Price in accordance with clause 13.1, the Contract shall terminate at the end of the Initial Contract Period. 13.3 13.3. If a variation in the Contract Price is agreed between the Authority and the Contractor, the revised Contract Price will take effect from the first day of any period of extension and shall apply during such period of extension. 13.4 13.4. Any increase in the Contract Price pursuant to clause 13.1 shall not exceed the percentage change in the Office of National Statistics’ Consumer Prices Index ("CPI") (or such other index specified in the Pricing and Payment Schedule) between the Commencement Date and the date six twelve (612) Months before the end of the Initial Contract Period.