Rate Adjustment Review Process Sample Clauses

Rate Adjustment Review Process. In the event the Party receiving the Rate Adjustment Event Notice does not approve the requested rate adjustment as set forth above, or does not respond by the Rate Adjustment Decision Deadline, the District shall cause a Utility Committee meeting to be scheduled to deliberate the proposed rate adjustment on a date which is not more than ninety (90) days after the Rate Adjustment Decision Deadline (the “Utility Committee Hearing”); provided the Parties may mutually agree to extend such ninety (90) day deadline as required. Further, the Parties shall mutually establish a schedule of deadlines to occur prior to the Utility Committee Hearing which shall include: (A) the date on which either Party shall submit data requests for any additional relevant information reasonably necessary to make a determination of whether the requested rate adjustment is proper and reasonable; and (B) the date on which either Party shall submit responses to such data requests of the District. During the Rate Adjustment Review Process, each Party shall have the right to select and employ rate consultants, engineers, accountants, auditors, attorneys and other personnel to conduct investigations, present evidence, and conduct proceedings on the establishment of rates, all as deemed necessary and prudent by such Party; provided all such professionals shall be qualified, competent, and of good standing in their respective professions. Within thirty (30) days of the conclusion of the Utility Committee Hearing, the Utility Committee shall deliver to the Parties and the District its written recommendation of whether the requested rate adjustment should be approved or denied in whole or in part, attaching thereto a statement of the facts and explanation of its rationale supporting such recommendation (the “Proposed Recommendation”). If the Proposed Recommendation approves the requested rate adjustment in whole or in part and neither Party opposes the Proposed Recommendation, the Proposed Recommendation shall be submitted to the District for consideration and, if approved by the District, the District shall adopt a resolution in accordance with Applicable Law and post such adjusted rate on the Parish’s website as contemplated by Sec. 18-117.4 of the Code of Ordinances. If either Party disputes either the other Party’s determination of the rate adjustment request or a Proposed Recommendation that does not go to the District, then a Party may submit the matter to the dispute resolution proced...
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Related to Rate Adjustment Review Process

  • Contract Price Adjustment The basis upon which the Contract Price shall be adjusted is as set out in paragraph 9.2 of Schedule IVB.

  • Review Process A/E's Work Product will be reviewed by County under its applicable technical requirements and procedures, as follows:

  • POST-REVIEW DISCOVERIES If, during the implementation of an undertaking, a previously unidentified property that may be eligible for inclusion in the National Register is encountered, or a known historic property may be affected in an unanticipated manner, the Agency Official shall follow 36 C.F.R. § 800.13(b).

  • Cost of Additional Review The Design Professional shall be responsible for an initial and one subsequent review of the Submittal. Where the subsequent Submittal is not accepted due to noncompliance with the Contract Documents, the Contractor shall be responsible for payment for the additional time required by the Design Professional to complete the Submittal review.

  • Commercial Price List Reductions Where NYS Net Prices are based on a discount from Contractor’s list prices, price decreases shall take effect automatically during the Contract term and apply to Purchase Orders submitted on or after the date Contractor lowers its pricing to its customers generally or to similarly situated government customers during the Contract term; or

  • PRICE ESCALATION/DE-ESCALATION (CPI) The County may allow a price escalation provision within this award. The original contract prices shall be firm for an initial one (1) year period. A price escalation/de-escalation will be considered at one (1) year intervals thereafter, provided the Contractor notifies the County, in writing, of the pending price escalation/de-escalation a minimum of sixty (60) days prior to the effective date. Price adjustments shall be based on the latest version of the Consumers Price Index (CPI-U) for All Urban Consumers, All Items, U.S. City Average, non-seasonal, as published by the U.S. Department of Labor, Bureau of Labor Statistics. This information is available at xxx.xxx.xxx. Price adjustment shall be calculated by applying the simple percentage model to the CPI data. This method is defined as subtracting the base period index value (at the time of initial award) from the index value at time of calculation (latest version of the CPI published as of the date of request for price adjustment), divided by the base period index value to identify percentage of change, then multiplying the percentage of change by 100 to identify the percentage change. Formula is as follows: Current Index – Base Index / Base Index = % of Change % of Change x 100 = Percentage Change CPI-U Calculation Example: CPI for current period 232.945 Less CPI for base period 229.815 Equals index point change 3.130 Divided by base period CPI 229.815 Equals 0.0136 Result multiplied by 100 0.0136 x 100 Equals percent change 1.4% A price increase may be requested only at each time interval specified above, using the methodology outlined in this section. To request a price increase, Contractor shall submit a letter stating the percentage amount of the requested increase and adjusted price to the Orange County Procurement Division. The letter shall include the complete calculation utilizing the formula above, and a copy of the CPI-U index table used in the calculation. The maximum allowable increase shall not exceed 4%, unless authorized by the Manager, Procurement Division. All price adjustments must be accepted by the Manager, Procurement Division and shall be memorialized by written amendment to this contract. No retroactive contract price adjustments will be allowed. Should the CPI-U for All Urban Consumers, All Items, U.S City Average, as published by the U.S. Department of Labor, Bureau of Labor Statistics decrease during the term of the contract, or any renewals, the Contractor shall notify the Orange County Procurement Division of price decreases in the method outlined above. If approved, the price adjustment shall become effective on the contract renewal date. If the Contractor fails to pass the decrease on to the County, the County reserves the right to place the Contractor in default, cancel the award, and remove the Contractor from the County Vendor List for a period of time deemed suitable by the County. In the event of this occurrence, the County further reserves the right to utilize any options as stated herein.

  • Workforce Adjustment (a) The Parties recognize that workforce adjustment may be necessary due to the elimination of positions resulting from a reduction in the amount of work required to be done by the Commission, reorganization or program termination.

  • CONTRACT ITEM CHANGES A. If a manufacturer discontinues a contracted item, that item will automatically be considered deleted from the contract with no penalty to Contractor. However, H-GAC may at its sole discretion elect to make a contract award to the next lowest Respondent for the item, or take any other action deemed by H-GAC, at its sole discretion, to be in the best interests of its Customers.

  • C1 Contract Price C1.1 In consideration of the Contractor’s performance of its obligations under the Contract, the Authority shall pay the Contract Price in accordance with clause C2 (Payment and VAT).

  • Price Adjustment Civil works contracts of long duration (more than 18 months) shall contain an appropriate price adjustment clause.

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