Common use of REVIEW OF THE FRAMEWORK PRICES Clause in Contracts

REVIEW OF THE FRAMEWORK PRICES. 3.1 The Contractor can request a variation in the Framework Prices in accordance with the remaining provisions of this Paragraph 3 (Review of the Framework Prices) subject always to: 3.1.1 the Contractor's request being submitted at least three (3) Months before the effective date for the proposed variation (the "Adjustment Date"); 3.1.2 the cap on any increase in the Framework Prices in accordance with Paragraph 1.3 above; and 3.1.3 the agreement of the Authority. 3.2 The earliest Adjustment Date for any increase in any of the Framework Prices in accordance with this Paragraph 3 (Review of the Framework Prices) will be the first (1st) Working Day following the first (1st) anniversary of the Commencement Date. Review will occur on an annual basis thereafter and any subsequent increase to any of the Framework Prices in accordance with this Paragraph 3 (Review of the Framework Prices). 3.3 To make a request for a variation of some or all of the Framework Prices in accordance with this Paragraph 3 (Review of the Framework Prices), the Contractor shall provide the Authority with a list of the Framework Prices it wishes to review. 3.4 The Authority will: 3.4.1 refer in its review to the "CPI Index" (which shall mean the "Consumer Prices Index (CPI)" as published by the Office of National Statistics ; and 3.4.2 apply the following definition to the phrase the "annual percentage change in the CPI Index" which for the purposes of this Schedule 2 (Price Schedule) shall mean the percentage increase in the most recently published CPI Index which has been confirmed by the Office for National Statistics at the time of the request for variation. 3.5 Where the published CPI Index figure at the relevant Adjustment Date is stated to be a provisional figure or is subsequently amended, that figure shall apply unless the Authority and the Contractor shall agree otherwise.

REVIEW OF THE FRAMEWORK PRICES. 3.1 The Contractor can request a variation in the Framework Prices in accordance with the remaining provisions of this Paragraph 3 (Review of the Framework Prices) subject always to: 3.1.1 the Contractor's request being submitted at least three (3) Months before the effective date for the proposed variation (the "Adjustment Date"); 3.1.2 the cap on any increase in the Framework Prices in accordance with Paragraph 1.3 above; and 3.1.3 the agreement of the Authority. 3.2 The earliest Adjustment Date for any increase in any of the Framework Prices in accordance with this Paragraph 3 (Review of the Framework Prices) will be the first (1st) Working Day following the first second (1st2nd) anniversary of the Commencement Date. Review will occur on an annual basis thereafter and any subsequent increase to any of the Framework Prices in accordance with this Paragraph 3 (Review of the Framework Prices). 3.3 To make a request for a variation of some or all of the Framework Prices in accordance with this Paragraph 3 (Review of the Framework Prices), the Contractor shall provide the Authority with a list of the Framework Prices it wishes to review. 3.4 The Authority will: 3.4.1 refer in its review to the "CPI Index" (which shall mean the "Consumer Prices Index (CPI)" as published by the Office of National Statistics ; and 3.4.2 apply the following definition to the phrase the "annual percentage change in the CPI Index" which for the purposes of this Schedule 2 (Price Schedule) shall mean the percentage increase in the most recently published CPI Index which has been confirmed by the Office for National Statistics at the time of the request for variation. 3.5 Where the published CPI Index figure at the relevant Adjustment Date is stated to be a provisional figure or is subsequently amended, that figure shall apply unless the Authority and the Contractor shall agree otherwise.