Details of proposed Adjustment Sample Clauses
The 'Details of proposed Adjustment' clause outlines the specific information and rationale required when a party seeks to modify an existing agreement or contract. Typically, this clause mandates that the proposing party provide clear documentation of the adjustment, including the nature of the change, the reasons for it, and any supporting evidence or calculations. By requiring detailed disclosure, the clause ensures transparency and enables all parties to assess the impact of the proposed adjustment, thereby reducing misunderstandings and facilitating informed decision-making.
Details of proposed Adjustment. The parties shall, no later than 84 days before the review date under Clause 16.1 (the “Backstop Date”), meet to consider whether an Adjustment to the Amount should be made. If either of the parties considers that any such Adjustment should be made:
(a) that party shall provide reasonable details of the proposed Adjustment and the reasons for such change based on the Criteria; and
(b) Clause 16.4 shall apply.