Substitution of Indexes for Seller Price Revision Formula. If: (i) the United States Department of Labor substantially revises the methodology of calculation of the Labor Index or the Material Index as used in the Seller Price Revision Formula, or (ii) the United States Department of Labor discontinues, either temporarily or permanently, such Labor Index or such Material Index, or (iii) the data samples used to calculate such Labor Index or such Material Index are substantially changed; the Seller shall select a substitute index for inclusion in the Seller Price Revision Formula (the “Substitute Index”). The Substitute Index shall reflect as closely as possible the actual variance of the Labor Costs or of the material costs used in the calculation of the original Labor Index or Material Index as the case may be. As a result of the selection of the Substitute Index, the Seller shall make an appropriate adjustment to the Seller Price Revision Formula to combine the successive utilization of the original Labor Index or Material Index (as the case may be) and of the Substitute Index.
Appears in 4 contracts
Samples: Purchase Agreement (Frontier Group Holdings, Inc.), Purchase Agreement (Frontier Group Holdings, Inc.), Purchase Agreement (Frontier Group Holdings, Inc.)
Substitution of Indexes for Seller Price Revision Formula. If:
(i) the United States Department of Labor substantially revises the methodology of calculation of the Labor Index or the Material Index as used in the Seller Price Revision Formula, or
(ii) the United States Department of Labor discontinues, either temporarily or permanently, such Labor Index or such Material Index, or
(iii) the data samples used to calculate such Labor Index or such Material Index are substantially changed; the Seller shall select a substitute index for inclusion in the Seller Price Revision Formula (the “Substitute Index”). The Substitute Index shall reflect as closely as possible the actual variance of the Labor Costs or of the material costs used in the calculation of the original Labor Index or Material Index as the case may be. As a result of the selection of the Substitute Index, the Seller shall make an appropriate adjustment to the Seller Price Revision Formula to combine the successive utilization of the original Labor Index or Material Index (as the case may be) and of the Substitute Index. ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission.
Appears in 2 contracts
Samples: Purchase Agreement (Frontier Group Holdings, Inc.), Purchase Agreement (Frontier Group Holdings, Inc.)
