Common use of Renewal Years of the Contract Clause in Contracts

Renewal Years of the Contract. 27.3.1 For years in which a Contract renewal is exercised, Contract price increases may not exceed more than three percent per year, and the aggregate amount of requested increases for all renewal years of the Contract may not exceed ten (10) percent. 27.3.2 For years in which a Contract renewal is exercised, the Department may consider waiving the ten (10) percent cap if Contractor can demonstrate substantial, relevant evidence that the costs for the provision of services have increased in an amount that exceeds the allowable percentage increase in prices. The determination to waive the limits is exclusively that of the Department.

Renewal Years of the Contract. 27.3.1 For years in which a Contract renewal is exercised, Contract price increases may not exceed more than three (3) percent per year, and the aggregate amount of requested increases for all renewal years of the Contract may not exceed ten (10) percent. 27.3.2 For years in which a Contract renewal is exercised, the Department may consider waiving the ten (10) percent cap if Contractor can demonstrate substantial, relevant evidence that the costs for the provision of services have increased in an amount that exceeds the allowable percentage increase in prices. The determination to waive the limits is exclusively that of the Departmentinitial term of the Contract.