Common use of Price variation Clause in Contracts

Price variation. (a) The Supplier must supply each item of the Goods at the Unit Price during the Term. (b) The Supplier may increase the Unit Price on each anniversary of the Commencement Date in accordance with the process in this clause 6.3 to reflect any increases in costs and other charges reasonably incurred and evidenced by the Supplier. (c) At least 30 days prior to an anniversary of the Commencement Date, the Supplier must provide the School Council with written notice of its proposed increase in the Unit Prices. (d) If the School Council notifies the Supplier in writing that it accepts the proposed increase in the Unit Prices notified by the Supplier under clause 6.3(c), the Unit Prices will be varied with effect from the next anniversary of the Commencement Date and the Supplier must promptly provide to the School Council an updated version of Schedule 3 containing a list of all Goods and their respective Unit Prices. (e) If the School Council, in its reasonable opinion, believes a proposed increase to the Unit Prices as notified by the Supplier under clause 6.3(c) to be excessive, it will notify the Supplier and provide reasons for its refusal. (f) If the School Council refuses a price variation under clause 6.3(e), the School Council and the Supplier will discuss in good faith the proposed price variation. (g) If the School Council and the Supplier agree any variation to the Unit Price in accordance with 6.3(f), the School Council will notify the Supplier in writing and the Unit Prices will be varied with effect from 14 days after the Supplier's receipt of such notice. The Supplier must promptly provide to the School Council an updated version of Schedule 3 containing a list of all Goods and their respective Unit Prices.

Price variation. ‌ (a) The Supplier must supply each item of the Goods at the Unit Price during the Term. (b) The Supplier may increase the Unit Price on each anniversary of the Commencement Date in accordance with the process in this clause 6.3 to reflect any increases in costs and other charges reasonably incurred and evidenced by the Supplier. (c) At least 30 days prior to an anniversary of the Commencement Date, the Supplier must provide the School Council with written notice of its proposed increase in the Unit Prices.Prices.‌ (d) If the School Council notifies the Supplier in writing that it accepts the proposed increase in the Unit Prices notified by the Supplier under clause 6.3(c), the Unit Prices will be varied with effect from the next anniversary of the Commencement Date and the Supplier must promptly provide to the School Council an updated version of Schedule 3 containing a list of all Goods and their respective Unit Prices. (e) If the School Council, in its reasonable opinion, believes a proposed increase to the Unit Prices as notified by the Supplier under clause 6.3(c) to be excessive, it will notify the Supplier and provide reasons for its refusal.refusal.‌ (f) If the School Council refuses a price variation under clause 6.3(e), the School Council and the Supplier will discuss in good faith the proposed price variation.variation.‌ (g) If the School Council and the Supplier agree any variation to the Unit Price in accordance with 6.3(f), the School Council will notify the Supplier in writing and the Unit Prices will be varied with effect from 14 days after the Supplier's receipt of such notice. The Supplier must promptly provide to the School Council an updated version of Schedule 3 containing a list of all Goods and their respective Unit Prices.