Annual Rate Adjustment. The per diem or hourly rates set forth in Exhibit A may be reviewed annually on or before the anniversary date of this Agreement. In the event Consultant has more than one Agreement with the Owner, the anniversary date will be the latter Agreement’s anniversary date. Any adjustments to per diem or hourly rates shall be negotiated, approved in writing by the Owner and shall be effective no earlier than the anniversary date of the Agreement. Adjusted billing rates cannot be utilized for billable hours performed prior to the approval date. Subconsultant billing rates may or may not be affected by the annual rate adjustment, i.e. Subconsultant with rates negotiated under another agreement and within one year of those negotiated rates.
Annual Rate Adjustment. The payment amounts listed in this Agreement are based on the work being performed within one year of the contract date. Because of natural time delays that may be encountered in the administration and work to be performed for the project, each value will be increased at the rate of 3%, compounded annually, beginning after one year from the date of the contract and ending when that item is approved for billing.
Annual Rate Adjustment. The Maintenance and Fuel and Energy fees established in this Exhibit 1 may be adjusted by OUC annually to reflect changes in electric rates, subject to review and approval by the Florida Public Service Commission. In any one year, the rates for maintenance shall not change by more than three percent (3%) over the prior year’s rate. The capital investment portion of the Monthly Lighting Service Charge shall remain fixed for the term of this Agreement (20 years) and there shall be no new and/or additional charges for capital investment of Lighting Equipment during renewal terms unless Customer requests the installation of new Lighting Equipment.
Annual Rate Adjustment. On October 1, 2015, and on the first day of October of each year thereafter (the “Adjustment Date”) until the Maturity Date, the rate of interest shall be increased each year by the lesser of the following: (x) three (3) times the percentage increase in the CPI (as hereinafter
Annual Rate Adjustment. 10 The Schedule of Approved Rates provided in Exhibit E shall be adjusted annually following public 11 hearings and according to the following methodology. The rate shall be adjusted annually each July 1st 12 with the first such adjustment occurring July 1, 1996. Said adjustment shall be no greater than the change 13 in the Consumer Price Index for All Urban Consumers (CPI-U) for the Los Xxxxxxx/Xxxxxxx/Xxxxxxxxx 00 Xxxxxxxxxxxx Xxxx, (0000 - 84 = 100) as published by the United States Department of Labor, Bureau of 15 Labor Statistics. Said change shall be measured for the twelve (12) month period January through
Annual Rate Adjustment. The service component of the Rates provided in Attachment B shall be adjusted on December 1, 2015 and annually thereafter, by a percentage equal to the annual percent change in the Consumer Price Index (“CPI”), August to August, All Items, December 1996=100 for All Urban Consumers (CPI-U), West Size Class B/C (CUURX400SA0, CUUSX400SA0), as published by the Bureau of Labor Statistics (xxxx://xxx.xxx.xxx/cpi/home.htm). The disposal component of the Rates provided in Attachment B shall be adjusted December 1, 2015 and annually thereafter, by a percentage equal to NINETY PERCENT (90%) of the annual percent change in the CPI.
Annual Rate Adjustment. For the 2016 calendar year and each calendar year thereafter, the Concessionaire shall establish the Schedule of Service Charges for each class or type of Utility Service (other than Service Charges determined pursuant to a Municipal Services Agreement). The Annual Rate Adjustment for any such calendar year may not result in an increase in Service Charges for each class or type of Utility Service in excess of the Permitted Annual Rate Adjustment for that calendar year. Each such Annual Rate Adjustment and the resulting new Schedule of Service Charges shall take effect as of the first day of the calendar year and shall remain in effect for the entire calendar year.
Annual Rate Adjustment. On April 1, 2008, and on the first day of April of each year thereafter (the “Adjustment Date”) until the Maturity Date, the rate of interest shall be increased each year by the lesser of the following: (x) three (3) times the percentage increase in the CPI (as hereinafter defined) from the CPI in effect on the applicable Adjustment Date over the CPI in effect on the immediately preceding Adjustment Date, in each case rounded to the nearest one-hundredth of a percent; or (y) one and one-half percent (1.5%) (i.e., the rate of interest shall be increased to an amount equal to the rate of interest in the previous year multiplied by 1.015). Notwithstanding the foregoing, at such time as the Property achieves a Debt Service Coverage Ratio of 2.0 to 1.0, and maintains such Debt Service Coverage Ratio for a period of two consecutive years, then the applicable interest for subsequent years will be reduced by 100 basis points from the otherwise applicable interest rate, provided that such Debt Service Coverage Ratio continues to be met at the end of each Loan Year (as defined in the Loan Agreement). For the purposes hereof, Debt Service Coverage Ratio shall mean a fraction, the numerator of which is the EBITDA for the previous Loan Year for the Property decreased by 3% of the revenues for the Property, and the denominator of which is the current annual payment under this Note, and EBITDA shall mean, for the period of computation, earnings attributable to the Property before interest, taxes, depreciation and amortization, determined in accordance with generally accepted accounting principles, consistently applied. For the purposes hereof, “CPI” shall mean the Consumer Price Index for all Urban Consumers, U.S. City Average, published by the Bureau of Labor Statistics of the United States Department of Labor (base year 1982-84=100).
Annual Rate Adjustment. Effective on each anniversary of the Effective Date through the Term of this Agreement, the Gathering and Processing Fee (other than related to water) shall be adjusted by the product of the fees then in effect multiplied by the percentage increase (if any) between the Consumer Price Index (All Urban Consumers (CPI-U); U.S. City Average; All items, 1982-1984 reference base), issued by the United States Department of Labor, Bureau of Labor Statistics (“BLS”) (the “CPI”) for January of the current year and the CPI for January of the immediately preceding year; provided that in no event shall the fees hereunder be increased by more than 3% from the fees in effect for the immediately preceding year, or decreased. If the 1982-1984 reference base is no longer used as the standard reference base by BLS, then the standard reference base shall be that established from time to time by BLS as the replacement for the CPI. For the avoidance of doubt and notwithstanding anything to the contrary, the Gathering and Processing Fee (including related to water) shall not be adjusted other than as specifically set forth in this Section 5.4.
Annual Rate Adjustment. On April 1, 2008, and on the first day of April of each year thereafter (the “Adjustment Date”) until the Maturity Date, the rate of interest shall be increased each year by one and one-half percent (1.5%)(i.e., an amount equal to the rate of interest in the previous year multiplied by 1.015). Notwithstanding the foregoing, at such time as the Property achieves a Debt Service Coverage Ratio of 2.0 to 1.0, and maintains such Debt Service Coverage Ratio for a period of two consecutive years, then the applicable interest for subsequent years will be reduced by 100 basis points from the otherwise applicable interest rate, provided that such Debt Service Coverage Ratio continues to be met at the end of each Loan Year (as defined in the Loan Agreement). For the purposes hereof, Debt Service Coverage Ratio shall mean a fraction, the numerator of which is the EBITDA for the previous Loan Year for the Property decreased by 3% of the revenues for the Property, and the denominator of which is the current annual payment under this Note, and EBITDA shall mean, for the period of computation, earnings attributable to the Property before interest, taxes, depreciation and amortization, determined in accordance with generally accepted accounting principles, consistently applied.
