Rate Modification. Service Provider may apply to the City in writing for consideration of a special rate review should an unforeseen event or circumstance arise which jeopardizes the economic operations of the Service Provider. A special rate review application shall be considered at the request of the Service Provider if one or more of the following occurs: a. Landfill tip fees change by more than five (5) percent; or b. Accumulative operating costs over which Service Provider has no control change by more than ten (10) percent. Any change in rates shall be at the discretion of the City Council. At least fifteen (15) days prior to any decision by the City Council, the Service Provider shall submit to City staff complete and accurate financial data showing its operating costs, revenues, and rate of-return for operations under this Agreement. City staff may request, and Service Provider agrees to provide, other or additional records as may be necessary to fully review Service Provider’s operations and rate requests. All such financial information submitted to the City shall be kept confidential. The City Council may grant a special rate request, or grant the request in part. The Council shall not unreasonably withhold granting the request in part or in full. Any change in customer rates shall be confirmed in a written amendment to this Agreement, which shall take effect no sooner than thirty (30) days from the date of the Council decision. Special rate review requests notwithstanding, the City Council shall review trash and recycling service rates annually as part of its regular budgeting process.

Rate Modification. The Parties acknowledge that certain proceedings may affect the pricing and terms of the agreement and, accordingly, agree as follows with respect to modification of the rates initially provided for herein:

Rate Modification. In an Event of Default other than Borrower’s failure to pay the Note as agreed, then, at Lxxxxx’s option and in lieu of applying the Default Rate, Lender shall have the right to modify the interest rate on the Note by adding an additional two percent (2%) to the interest rate then in effect at the time of such modification until such time that Borrower cures the Event of Default giving rise to such rate modification. Notwithstanding the foregoing, in the Event of Default arising out of Section 4.13 of this Loan Agreement, the Rate Modification as set out in this Section 7.2(c) will be reduced only after one full quarter of compliance with Section 4.13.

Rate Modification. Section 6.1 of Service Schedule I is hereby amended to read in its entirety as follows: (6.1) The rate for firm transmission service provided pursuant to Section 5.1 shall be two dollars and seven cents per kilowatt month ($2.07/kW-month), which shall be subject to adjustment pursuant to Section 6.4 of Service Schedule I. Each month's xxxx for transmission service hereunder shall be calculated as $2.07/kW‑month times the amount of transmission capacity reserved for EPE (20MW)."

Rate Modification. Commencing in January 2021, the Seller shall have the right to adjust or modify the wholesale rate set forth in paragraph 9 to reflect changes in the Seller’s cost of providing water service to the Purchaser. Thereafter, the Seller may adjust, from time to time, the wholesale rate, but not more frequently than once every two (2) years. Any increase or decrease in the wholesale rate shall be based on a demonstrable increase or decrease in the costs of performance hereunder.

Rate Modification. Commencing in 2021, the City shall have the right to adjust or modify annually the wholesale rates set forth in paragraph 12 and the Capacity Fees set forth in paragraph 13 to reflect changes in the City’s cost of treating the wastewater discharged by the District. Any increase or decrease in the wholesale rates shall be based on a demonstrable increase or decrease in the cost of performance hereunder.

Related to Rate Modification

Acceptable Modifications This Guaranty shall be binding upon the Guarantor and upon its successors and assigns and shall inure to the benefit of and be enforceable by the Guaranteed Party and their successors and assigns; provided, however, that the Guarantor may not assign or transfer any of its rights or obligations hereunder without the prior written consent of the Guaranteed Party. The assignment rights of the Guaranteed Party will be in accordance with any applicable terms of the Agreement. Any assignment in violation of this Section 8 shall be void and of no effect.
Waiver; Modification Failure to insist upon strict compliance with any of the terms, covenants, or conditions hereof shall not be deemed a waiver of such term, covenant, or condition, nor shall any waiver or relinquishment of, or failure to insist upon strict compliance with, any right or power hereunder at any one or more times be deemed a waiver or relinquishment of such right or power at any other time or times. This Agreement shall not be modified in any respect except by a writing executed by each party hereto.
CONTRACT MODIFICATION The following is adopted as the new CTC for the Contract effective December 29, 2022:
Modification; Assignment No amendment or other modification, rescission, release, or assignment of any part of this Agreement shall be effective except pursuant to a written agreement subscribed by the duly authorized representatives of the parties hereto.
Cost Modifications The parties may agree to a reduction in the cost of the Contract at any time during which the Contract is in effect. Without intending to impose a limitation on the nature of the reduction, the reduction may be to hourly, staffing or unit costs, the total cost of the Contract or the reduction may take such other form as the State deems to be necessary or appropriate.
Amendment; Modification No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing and signed by both Parties.
Waiver, Modification, Etc No provision or term of this Amendment may be modified, altered, waived, discharged or terminated orally, but only by an instrument in writing executed by the party against whom such modification, alteration, waiver, discharge or termination is sought to be enforced.
Contract Modifications It is understood that changes are inherent in operations of the type covered by this contract. The number of changes, the scope of those changes, and the impact they have on the progress of the original operations cannot be defined at this time. The PURCHASER is notified that changes are anticipated and that there will be no compensation made to the PURCHASER directly related to the number of changes made. Each change will be evaluated for extension of contract time and increase or decrease in compensation based on its own merit. STATE reserves the right to make, at any time during the contract, such modifications as are necessary or desirable; provided such modifications shall not change the character of the operations to be done nor increase the cost, unless such operations or cost increase is approved in writing by PURCHASER. Any modifications so made shall not invalidate this contract nor release PURCHASER of obligations under the performance bond. PURCHASER agrees to do the modified operations as if it had been a part of the original contract. If any change under this section causes an increase or decrease in the PURCHASER's cost of, or the time required for the performance of any part of the operations, the PURCHASER must submit a written statement setting forth the nature and specific extent of the claim. Such claim shall include all time and cost impacts against the contract and be submitted as soon as possible, but no later than 30 days after receipt of any written notice of modification of the contract. If the PURCHASER discovers site conditions which differ materially from what was represented in the contract or from conditions that would normally be expected to exist and be inherent to the activities defined in the contract, the PURCHASER shall notify the STATE's Authorized Representative immediately and before the area has been disturbed. The STATE's Authorized Representative will investigate the area and make a determination as to whether or not the conditions differ materially from either the conditions stated in the contract or those which could reasonably be expected in execution of this particular contract. If it is determined that a differing site condition exists, any compensation or credit will be determined based on an analysis by STATE's Authorized Representative. If the PURCHASER does not concur with the decision of the STATE's Authorized Representative and/or believes that it is entitled to additional compensation, the PURCHASER may proceed to file a claim. All claims shall be submitted in writing and shall include a detailed, factual statement of the basis of the claim, pertinent dates, contract provisions which support or allow the claim, reference to or copies of any documents which support the claim, the exact dollar value of the claim, and specific time extension requested for the claim. If the claim involves operations to be completed by subcontractors, the PURCHASER will analyze and evaluate the merits of the subcontractor's claim. PURCHASER shall forward the subcontractor's claim and PURCHASER's evaluation of such claim to STATE's Authorized Representative. The STATE's Authorized Representative will not consider direct claims from subcontractors, suppliers, manufacturers, or others not a party to this contract. The decision of the STATE shall be final and binding unless the PURCHASER requests mediation.
Amendment and Modification This Agreement may only be amended, modified or supplemented by an agreement in writing signed by each party hereto.
Agreement Modification 15.1 Any agreement to change the terms of this Agreement in any way shall be valid only if the change is made in writing and approved by mutual agreement of authorized representatives of the parties hereto.

Rate Modification Sample Clauses

Filter & Search

Related Clauses

Parent Clauses

Sub-Clauses

Related to Rate Modification