Common use of Agreement of CPI Adjustment Clause in Contracts

Agreement of CPI Adjustment. Prior to the start of Contract Year 3 and Contract Year 5, the MSP will calculate the CPI adjustment and transmit to the Contractor. The Contractor must submit the CPI-adjusted rates in the form and manner specified by OGS no later than 30 days prior to the start of Contract Year 3 and 5. OGS shall confirm acceptance of the adjusted hourly rates in writing as soon as time permits. OGS reserves the right to independently calculate the CPI adjustments using the formula described in Section 6.1.1. In the event of a discrepancy, the Contractor must provide its CPI calculations to OGS for review.