Common use of PRICING OF ADJUSTMENTS Clause in Contracts

PRICING OF ADJUSTMENTS. All price adjustments, including but not limited to Equitable Adjustments, under this Contract shall be based upon Seller's costs and a reasonable profit for work performed, unless profit is expressly excluded by terms of this Contract. The Company shall recognize costs that are reasonable, allowable and allocable under the standards of Part 31 of the Federal Acquisition Regulation (“FAR”, Title 48, Code of Federal Regulations) in effect on the date of this Contract.

PRICING OF ADJUSTMENTS. All price adjustments, including but not limited to Equitable Adjustments, under this Contract shall be based upon Seller's costs and a reasonable profit for work performed, unless profit is expressly excluded by terms of this Contract. The Company shall recognize costs that are reasonable, allowable and allocable under the standards of Part 31 of the Federal Acquisition Regulation (“FAR”, Title 48, Code of Federal Regulations) in effect on the date of this Contract.