The annual Maintenance Price. (MP) will be escalated or reduced based on changes in the Engineering News Record Construction Cost Index (ENR CCI), commencing on the Initial Maintenance Term Commencement Date and continuing annually thereafter during the term of this Capital Maintenance Agreement. The procedure for determining the escalation or reduction shall be as follows:
(a) The ENR CCI for the month three months prior to the month in which this Capital Maintenance Agreement is executed will establish the Base Index (BI); and
(b) The annual Maintenance Price for the ensuing Maintenance Term year shall be escalated or reduced by multiplying the annual Maintenance Price for such year, by the ENR CCI for the month three months prior to the month in which the Maintenance Term year commences and dividing such amount by the Base Index.
(c) The formula that reflects the foregoing is: Adjusted MP = (annual MP) x ENR CCI/(BI).
