Definition of Price Adjustment Index Sample Clauses

Definition of Price Adjustment Index. The Price Adjustment Index shall be equal to the equally weighted (i.e., mean) average of (a) the "Housing Price Index," which, except as provided in clause (ii) below, is defined as the four-year rolling average of the combined mean average of the Median Sales Prices of Existing Homes in both the "Los Angeles Area" and the "Ventura Area" as published monthly by the Planning, Research and Economics Division of the California Association of Realtors (the "Median Sales Prices"); and (b) the four-year rolling average of the Faculty Salary Index for four-year private universities and colleges as published annually in the March edition of the Bulletin of the American Association of University Professors (the "Faculty Salary Index"). The Faculty Salary Index shall be converted by Declarant to a monthly index in order to average it on a comparable basis with the Housing Price Index. For the period from June 1, 1992, until forty-four (44) months thereafter, the Housing Price Index shall be calculated by phasing in the four-year rolling average as follows: upon June 1, 1992, the Housing Price Index shall be determined based upon the average of the Median Sales Prices for the four (4) months immediately preceding June 1, 1992. For every month following June 1, 1992, the Median Sales Prices for the month immediately preceding the relevant date shall be added to the Housing Price Index until the Index consists of a rolling average of the Median Sales Prices for the four (4) years immediately preceding the relevant date. In the event the California Association of Realtors fails to publish the Median Sales Prices for a particular month or consecutive months, the missing price(s) will be determined by prorating on a straight-line basis the difference between the price immediately prior to the missing price(s) and the price immediately following the missing price(s). In the event that either of the indices used to calculate the Price Adjustment Index is hereafter discontinued, ceases to be published regularly, is materially modified or otherwise in the judgment of Declarant becomes inappropriate for the purpose stated herein, Declarant shall from time to time select another comparable regularly published index or indices or other statistical indicator that will serve to fulfill the below stated intent.
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Related to Definition of Price Adjustment Index

  • Price Adjustment Civil works contracts of long duration (more than 18 months) shall contain an appropriate price adjustment clause.

  • ECONOMIC PRICE ADJUSTMENT is the adjustment to the Aircraft Basic Price (Base Airframe, Engine and Special Features) as calculated pursuant to Exhibit D.

  • Adjustment of Price The State shall adjust the total contract price by subtracting from the total contract price an amount determined in the following manner: The State shall cause the timber sale area subject to governmental regulation or order to be measured. The State shall calculate the percentage of the total sale area subject to the governmental regulation or order. The State shall reduce the total contract price by that calculated percentage. However, variations in species, value, costs, or other items pertaining to the affected sale area will be analyzed and included in the adjustment if deemed appropriate by the State. The State will further reduce the total contract price by the reasonable cost of unamortized roads Purchaser constructed but was unable to fully use for removing timber. A reduction in total contract price terminates all of the Purchaser's rights to purchase and remove the timber and all other interest in the affected sale area.

  • Price Adjustments 17.1 Prices for Goods/Services supplied in terms of this Agreement shall be subject to review as indicated in the Schedule of Requirements/Works Order annexed hereto.

  • Contract Price Adjustment The basis upon which the Contract Price shall be adjusted is as set out in paragraph 9.2 of Schedule IVB.

  • Purchase Price Adjustment (a) As soon as reasonably practicable, following each Closing Date, Purchaser shall prepare, or shall cause to be prepared, a Final Closing Statement for each Target Business Segment that is the subject of such Closing and a certificate of the chief financial officer directly overseeing the Target Companies comprising such Target Business Segment certifying that the Final Closing Statement was prepared in accordance with the Agreed Accounting Principles and engage Deloitte and Touche LLP (or such other registered public accounting firm of international reputation which is mutually acceptable to Parent and Purchaser) (the “Accounting Expert”) to (i) audit the Final Closing Statement and issue a report thereon, and (ii) certify in writing to Parent and Purchaser that such audit was conducted in accordance with the terms hereof, and Purchaser shall cause such report and such certificate to be produced no later than 120 days following each Closing Date. The Accounting Expert shall be provided reasonable access to the books, records and other relevant information of the Target Companies, Purchaser, Parent and their respective Representatives, to the extent necessary to complete its audit of the Final Closing Statement, and Purchaser and Parent shall, and shall cause their Representatives (including the Subject Companies) to, make reasonably available their respective personnel directly responsible for and knowledgeable about the information to be used in, and reasonably necessary for the preparation of, such Final Closing Statement and in order to respond to inquiries made by the Accounting Expert, and Purchaser shall cause the Subject Companies to prepare and deliver customary management representation letters as may be requested by the Accounting Expert. Parent shall be provided reasonable access to the books, records and other relevant information of the Target Companies, Purchaser, and their respective Representatives (including the working papers of Parent and the Accounting Expert in connection with the preparation and audit of the applicable Final Closing Statement), and Purchaser and Parent shall, and shall cause their Representatives (including the Subject Companies) to, make reasonably available their respective personnel directly responsible for and knowledgeable about the information to be used in the Final Closing Statement in order to respond to inquiries made by Parent. The Final Closing Statement shall be final and binding and shall be used in determining the Adjustment Amount, absent manifest error. The fees and expenses of the Accounting Expert shall be borne by Parent.

  • Market Adjustment The parties to this Agreement recognize the appropriateness of market pay adjustments in rare instances for compelling reasons. To effectuate judgments in such cases, the President and AAUP Chapter President, in consultation, shall each name three (3) individuals to a university Market Evaluation Committee. Deans may submit recommendations for market pay adjustments with supporting written reasons to the committee. Said Committee shall consult with the President concerning proposed market pay adjustments reporting its advice not later than May 15 in each year. Upon the favorable recommendation of the President and the Chancellor, market pay adjustments may be approved effective at the beginning of that pay period including September 1 of the following year. Not more than one (1) market pay adjustment per one hundred (100) full-time members, or fraction thereof, may be recommended in any contract year. A member’s salary may not be increased beyond the maximum for the rank. Funding for this program shall be governed by Article 12.10.2.

  • FORCE ADJUSTMENT Section 1. In the event that the Company determines that a surplus exists and a decrease in the work force becomes necessary, the Company will first advise the Union in writing prior to notifying the affected employee(s). The affected employee(s) will be notified not less than thirty (30) calendar days prior to the date the employee(s) is to be laid off. In matters involving the surplus of fifty (50) or more employees at a single location, the Company will provide the employees sixty (60) days advance notice of the surplus.

  • Contingent Price Adjustment It is the policy of the State of Oregon that unprocessed timber shall not be exported from lands owned or managed by the STATE or any of its political subdivisions or agencies, in accordance with the terms of current federal law and the Constitution and the laws of the State of Oregon. PURCHASER specifically agrees that Section 1 is a material term of this contract and is part of the consideration offered to STATE in return for STATE's performance. In the event that any federal law or state constitutional provision or law or any provision of this contract concerning export of unprocessed timber is declared invalid by any court or administrative tribunal, PURCHASER agrees to pay to STATE a contingent price in the amount of the difference between the purchase price set forth in this section and the price obtained by PURCHASER for the exported unprocessed timber. The default provisions of OAR 629-032-0000 through 629-032-0070 shall not apply to exported unprocessed timber. In the event that timber made available under this contract is exported in violation of this contract, PURCHASER shall be in material breach of the contract. STATE shall be entitled to cease performance of the contract and recover, in addition to the adjusted price set out above, a further sum estimated to compensate for administrative expense and the economic impact of the violation upon the State and its citizens. In no case shall this additional amount be less than $10,000 per incident.

  • Market Adjustments 22. Neither this Article nor any other in this Collective Agreement prevents the Employer from using other funds to increase a Member’s salary in response to offers received from other employers or to accommodate other market forces.

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