Common use of Redetermination of Charges Clause in Contracts

Redetermination of Charges. (1) Determinative Factors Subject to Retroactive Charge The State shall redetermine the values and amounts chargeable to Participating Contractors in 1988 or the year following the year in which this article is effective, whichever is later, and each year thereafter as needed in order that the East Branch Enlargement charges to the Agency accurately reflect the increases or decreases from year to year in projected costs, properly attributable to each Participating Contractor. In addition, each such redetermination shall include an adjustment of the components of the charges to be paid by each Participating Contractor for succeeding years which shall account for the differences, if any, between those factors used by the State in determining the amounts of such components for all preceding years and the factors as then currently known by the State. Such adjustment shall be computed by the State and paid by the Participating Contractor or credited to the Participating Contractor’s account in the manner described in Articles 49(g)(2) and 49(g)(3) below.

Redetermination of Charges. (1) Determinative Factors Subject to Retroactive Charge The State shall redetermine the values and amounts chargeable to Participating Contractors in 1988 or the year following the year in which this article is effective, whichever is later, and each year thereafter as needed in order that the East Branch Enlargement charges to the Agency District accurately reflect the increases or decreases from year to year in projected costs, properly attributable to each Participating Contractor. In addition, each such redetermination shall include an adjustment of the components of the charges to be paid by each Participating Contractor for succeeding years which shall account for the differences, if any, between those factors used by the State in determining the amounts of such components for all preceding years and the factors as then currently known by the State. Such adjustment shall be computed by the State and paid by the Participating Contractor or credited to the Participating Contractor’s account in the manner described in Articles 49(g)(2) and 49(g)(3) below.