Price Redetermination. Prices quoted shall be firm and fixed unless otherwise stipulated in the Special Conditions of the Invitation For Bid/Request for Proposal. For multiple-year contracts, prices shall remain firm and fixed during the initial term of the contract. At the end of the initial contract term, and at the end of each contract term thereafter, the Contractor may request a price adjustment. Such requests must be submitted in writing at least 60 calendar days prior to the end of the contract term and shall include the cause for the adjustment, the amount of change requested, and documentation to support the requested adjustment. Only pass-through price adjustments will be considered, and any proposed price increase must be proven to be general throughout the industry. Requests for price increases must be accompanied by sufficient documentation to justify the request including, for example, certified letters from a manufacturer or published price indices such as the Producer Price Index that substantiate a price increase. Xxxx’x Daughter must agree to and approve any proposed price adjustment before its effective date. The adjusted price(s) become effective starting with the term beginning after the approval and shall be firm and fixed for the next contract term.
Price Redetermination. Upon the Contracting Officer’s receipt of the data required by paragraph (d) of this section, the Contracting Officer and the Contractor shall promptly negotiate to redetermine fair and reasonable prices for supplies that may be delivered or services that may be performed in the period following the effective date of price redetermination.
Price Redetermination. (a) At any time following a revised C Market Price agreed or determined pursuant to Clause 10 of the Principal Contract taking effect, the references in Clause 15.1 to "the date of this Agreement" will be deemed to be to "the date upon which the current C Market Price was agreed or determined pursuant to Clause 10 of the Principal Contract".
(b) Any subsisting adjustment to the payment for Gas pursuant to Clause 15.1 will cease to have any effect from the date upon which the revised C Market Price agreed or determined pursuant to Clause 10 of the Principal Contract following a notice pursuant to Clause 10.1(a)(i) or (ii) of the Principal Contract takes effect, but without prejudice to any adjustment arising pursuant to Clause 15.3(a) from the time the revised C Market Price takes effect.
Price Redetermination. Prices quoted shall be firm and fixed unless otherwise stipulated in the Special Conditions of the Invitation For Bid. For multiple year contracts, prices shall remain firm and fixed during the initial term of the contract. At the end of the initial contract term, and at the end of each contract term thereafter, the Contractor may request a price adjustment. Such requests must be submitted in writing at least 60 calendar days prior to the end of the contract term and shall include the cause for the adjustment, the amount of change requested, and documentation to support the requested adjustment. Only pass through price adjustments will be considered and any proposed price increase must be proven to be general throughout the industry. Requests for price increases must be accompanied by sufficient documentation to justify the request including, for example, certified letters from a manufacturer or published price indexes such as the Producer Price Index that substantiate a price increase. The University Contracting Officer must agree to and approve any proposed price adjustment before its effective date. The adjusted price(s) become effective starting with the term beginning after the approval and shall be firm and fixed for the next contract term.
Price Redetermination. 5.1 In the event the Purchase Order Contract is renewed, the unit prices (hereinafter called the “base selling price”) shall remain firm for the first twelve
Price Redetermination. Both parties agree to extend the minimum effective period for this price redetermination from three (3) years to six (6) years thereby waiving their right to request a redetermination until July 4, 2006 (180 days preceding the Effective Date), pursuant to Article 7.2. Effective with the next Effective Date the minimum length for a redetermination period shall once more be three (3) years. The intent of this Amendment to the Contract is to amend only those provisions that are herein specified; and, except as herein specifically amended, all the terms, conditions, and provisions of the Contract, as amended, including the contingency agreements entered into in November, 1984, shall remain the same. The defined terms used herein have the same meaning as those in the Contract and are incorporated herein by reference. This Amendment shall be fully binding upon and effective as to the interest of each of the parties hereto and shall be binding upon and inure to the benefit of the respective successors and assigns of the parties hereto.
Price Redetermination. In accordance with the provisions of this article 7.2, the Base Price and any or all of the adjustment provisions of article 7.1 are subject, at the request of either Shell or City, to redetermination from time to time, and at any time, effective January 1, 1986 or thereafter ("Effective Date"). The Base Price may be redetermined to the then fair market value of the coal delivered and accepted hereunder. Such fair market value shall be based on commitments for sale and purchase of coal of comparable quality (after making appropriate adjustments therefor) during the period for which the redetermined price is to be effective, in quantities, and otherwise on terms and conditions substantially like those of this Contract. The adjustment provisions may be redetermined to the then current, fair or recognized methods of adjusting the price hereunder. Either Shell or City may request a redetermination of the Base Price and/or adjustment provisions in article 7.1 (hereinafter collectively referred to as a redetermination) by giving notice to the other specifying in detail the redetermination requested accompanied by material supporting such redetermination. A notice requesting a redetermination must be given by the requesting party at least ninety (90) days but not more than one hundred eighty (180) days preceding the Effective Date. If a redetermination notice is given hereunder, Shell and City shall diligently endeavor in good faith to reach accord in writing concerning the proposed redetermination. If Shell and City reach an accord as to the redetermination, it will become effective on the Effective Date and continue in effect for a minimum of three (3) years and until the next requested redetermination becomes effective or until the Contract terminates as applicable. If Shell and City are unable to reach accord by the day preceding the Effective Date, then the matter of the redetermination will be submitted to non-binding arbitration, which Shell and City agree shall not be subject to the Illinois Uniform Commercial Arbitration Act but said arbitration shall conform generally to the Commercial Arbitration Rules of the American Arbitration Association. The non-binding arbitration shall be arbitrated by three (3) arbitrators, one (1) appointed by Shell, one (1) by City and one (1) by the two (2) so appointed (each appointment to be made promptly). The arbitrators shall proceed to redetermine the price (i.e., the fair market value of the coal), including such prov...
Price Redetermination. It is the intent of CUSA and NGC that the First of the Month Commodity Price and the Incremental Gas Commodity Price of Committed Gas delivered at a given Delivery Point under this Agreement reflect the prevailing fair market value of spot gas at that Delivery Point. CUSA and NGC agree that the Published Index Prices designated in Exhibit A and corresponding Gas Daily Index Prices represent an accurate measure of the fair market value of spot gas because those index prices reflect surveys of prices paid in actual transactions between willing buyers and sellers under no compulsion to buy or sell. In the event CUSA or NGC believes in good faith that the Published Index Prices or the corresponding Gas Daily Index Prices, or both, no longer represent an accurate measure of the fair market value of spot gas, that Party may seek a price redetermination in accordance with the following procedure.
Price Redetermination. It is the intent of Producer and Dynegy that the FOM Commodity Price and the Swing Gas Commodity Price of Committed Gas delivered at a given Delivery Point under this Agreement reflect the prevailing fair market value of spot gas at that Delivery Point. Producer and * Dynegy agree that the [REDACTED] designated in Exhibit "A" and corresponding * [REDACTED] represent an accurate measure of the fair market value of spot * gas because [REDACTED]. In the event Producer or Dynegy believes in good * faith that the [REDACTED] or the corresponding [REDACTED], or both, no longer represent an accurate measure of the fair market value of spot gas, that Party may seek a price redetermination in accordance with the following procedure.
Price Redetermination. Less common for contracts with terms of five years or less. For contracts with longer terms, the mechanism for tracking spot prices can be renegotiated once after four years. If parties cannot agree, a mechanism will be set by arbitration, but the contract automatically phases out within two years.
