Common use of Unavailable Index Clause in Contracts

Unavailable Index. If an index de- scribed in A5 is no longer available, Contracting Officer may replace that index. If Contracting Officer deter- mines that a replacement index does not exist, Current Contract Rates for the remainder of the contract shall be a Flat Rate. Flat Rates will be Tentative Rates ad- justed by the arithmetic average of the index described in A5 for a 12-month period prior to its becoming una- vailable using the quarterly adjustment procedure out- lined in B3.2. Contracting Officer will determine availa- bility and a beginning point to average the index for Flat Rates. Such Flat Rates are subject to rate redetermina- tion as provided elsewhere under this contract.‌‌‌‌‌‌‌

Appears in 10 contracts

Samples: www.fs.usda.gov, Resource Timber Contract, Resource Timber Contract

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!