Common use of CPI Increases Clause in Contracts

CPI Increases. The Maintenance and Hosting Rate set forth on Schedule “A” hereto may be increased, at the commercially reasonable discretion of HCHB, beginning on the date that is the five (5) year anniversary date of December 19, 2013 and on each anniversary date of December 19, 2013 thereafter (and only on such anniversary date, or within the fifteen (15) day period following such anniversary date, as specified below); provided, that the percentage increase in the Maintenance and Hosting Rate on any such anniversary date shall not exceed the percentage increase, if any, in the CPI Index for the period starting on the date that is one year prior to the applicable anniversary date and ending on such applicable anniversary date. Subject to the immediately preceding sentence, HCHB shall notify Client in writing of any such CPI Index price increase no later than fifteen (15) days following the occurrence of the applicable anniversary date, and if HCHB does not provide such a price increase notice within that fifteen (15) day period, then there shall be no price increase for that year. “CPI Index” means the Consumer Price Index as published by the Bureau of Statistics, U.S. Department of Labor, All Items Consumer Price Index for All Urban Consumers (CPI-U) for the U.S. City Average (1982-84 = 100).