Common use of Provisional Contract Price Clause in Contracts

Provisional Contract Price. 10.6.1 If due to the unavailability of information, Sellers are unable to calculate the CPIn, or if the Buyer has notified the Sellers that it does not agree with the Sellers’ calculation of the Contract Price within fourteen (14) Days of receipt of the Sellers’ calculation pursuant to Article 10.1.1 then: (a) a price (herein referred to as the “Provisional Contract Price”) shall be calculated as provided in Article 10.6.2; and (b) if for any reason the Provisional Contract Price cannot be calculated as mentioned in Article 10.6.1(a), then the Contract Price for the immediately preceding Price Period shall be used as the Provisional Contract Price for the current Price Period; and until the Contract Price can be calculated and subject to retrospective adjustment as hereinafter provided, the Provisional Contract Price for such Price Period shall be deemed to be the Contract Price for such Price Period for all purposes of this Agreement. 10.6.2 The Provisional Contract Price shall be calculated in the same manner as the Contract Price pursuant to this Article 10, but using in respect of any figure used to calculate the CPIn for use in the said formula which is not available or is the subject of dispute under this Article 10, the latest undisputed figure from the specified publication or same authority which was available prior to the disputed figure. 10.6.3 Once the CPIn and figures required to calculate the Contract Price for any Price Period have all become available and any dispute in respect thereof has been finally settled, the Contract Price shall be calculated for such Price Period and shall take effect retrospectively from the commencement of such Price Period and any overpayment or underpayment by the Buyer hereunder made due to the application of the Provisional Contract Price shall be shown in the next Monthly statement following calculation of the Contract Price and shall be credited to or paid by the Buyer with interest calculated at the rate of LIBOR (**) from the date of any overpayment or underpayment to the date of credit or payment (as applicable) applying the agreed or determined Contract Price for such Price Period.

Appears in 2 contracts

Samples: Gas Sale and Purchase Agreement, Gas Sale and Purchase Agreement (Noble Energy Inc)

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Provisional Contract Price. 10.6.1 10.5.1 If due to the unavailability of information, Sellers are unable to calculate the CPIn, Indicator under Article 10.3 or if the Buyer has notified the Sellers in writing that it does not agree with the Sellers’ calculation of the Contract Price within fourteen (14) Days of receipt of the Sellers’ calculation pursuant to Article 10.1.1 10.1.3, then: (a) a price (herein referred to as the “Provisional Contract Price”) shall be calculated as provided in Article 10.6.210.5.2; and (b) if for any reason the Provisional Contract Price cannot be calculated as mentioned in Article 10.6.1(a10.5.1(a), then the Contract Price for the immediately preceding Price Period shall be used as the Provisional Contract Price for the current Price Period; and until the Contract Price can be calculated and subject to retrospective adjustment as hereinafter provided, the Provisional Contract Price for such Price Period shall be deemed to be the Contract Price for such Price Period for all purposes of this Agreement. 10.6.2 10.5.2 The Provisional Contract Price shall be calculated in the same manner as the Contract Price pursuant to this Article 10, but using in respect of any figure used to calculate the CPIn an Indicator for use in the said formula which is not available or is the subject of dispute under this Article 10, the latest undisputed figure from the specified publication or same authority which was available prior to the disputed figure. 10.6.3 10.5.3 Once the CPIn Indicator and figures required to calculate the Contract Price for any Price Period have all become available and any dispute in respect thereof has been finally settled, the Contract Price shall be calculated for such Price Period and shall take effect retrospectively from the commencement of such Price Period and any overpayment or underpayment by the Buyer hereunder made due to the application of the Provisional Contract Price shall be shown in the next Monthly statement Statement following calculation of the Contract Price and shall be paid or credited to or paid by the Buyer with interest calculated at the rate of LIBOR ([**) *] from the date of any overpayment or underpayment to the date of credit or payment (as applicable) applying the agreed or determined Contract Price for such Price Period.

Appears in 2 contracts

Samples: Gas Sale and Purchase Agreement (IC Power Pte. Ltd.), Gas Sale and Purchase Agreement (IC Power Pte. Ltd.)

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Provisional Contract Price. 10.6.1 If due to the unavailability of information, Sellers are unable to calculate the CPIn, or if the Buyer has notified the Sellers that it does not agree with the Sellers’ calculation of the Contract Price within fourteen (14) Days of receipt of the Sellers’ calculation pursuant to Article 10.1.1 ‎10.1.1 then: (a) a price (herein referred to as the "Provisional Contract Price") shall be calculated as provided in Article 10.6.2‎10.6.2; and (b) if for any reason the Provisional Contract Price cannot be calculated as mentioned in Article 10.6.1(a‎10.6.1‎(a), then the Contract Price for the immediately preceding Price Period shall be used as the Provisional Contract Price for the current Price Period; and until the Contract Price can be calculated and subject to retrospective adjustment as hereinafter provided, the Provisional Contract Price for such Price Period shall be deemed to be the Contract Price for such Price Period for all purposes of this Agreement. 10.6.2 The Provisional Contract Price shall be calculated in the same manner as the Contract Price pursuant to this Article ‎Article 10, but using in respect of any figure used to calculate the CPIn for use in the said formula which is not available or is the subject of dispute under this Article ‎Article 10, the latest undisputed figure from the specified publication or same authority which was available prior to the disputed figure. 10.6.3 Once the CPIn and figures required to calculate the Contract Price for any Price Period have all become available and any dispute in respect thereof has been finally settled, the Contract Price shall be calculated for such Price Period and shall take effect retrospectively from the commencement of such Price Period and any overpayment or underpayment by the Buyer hereunder made due to the application of the Provisional Contract Price shall be shown in the next Monthly statement following calculation of the Contract Price and shall be credited to or paid by the Buyer with interest calculated at the rate of LIBOR (**) from the date of any overpayment or underpayment to the date of credit or payment (as applicable) applying the agreed or determined Contract Price for such Price Period.

Appears in 1 contract

Samples: Gas Sale and Purchase Agreement (Noble Energy Inc)

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