Common use of Differential Rate Clause in Contracts

Differential Rate. Beginning October 1 of the first year after the end of the phase- in period, High Point shall pay for all water purchased under this Contract at a rate of twenty eight percent (28%) above the rate charged to the City by NTMWD per one thousand (1,000) gallons (“Differential Rate") for water furnished to the City. Said Differential Rate shall automatically adjust upon any change to the rate charged to the City by NTMWD. After completion of the Phase-In Period, the rate charged to High Point shall not exceed any rate or effective volumetric rate charged to any other retail water utility that is a wholesale customer of the City.

Differential Rate. Beginning October 1 of the first year after the end of the phase- in period, High Point Talty shall pay for all water purchased under this Contract at a rate of twenty eight percent (28%) above the rate charged to the City by NTMWD per one thousand (1,000) gallons (“Differential Rate") for water furnished to the City. Said Differential Rate shall automatically adjust upon any change to the rate charged to the City by NTMWD. After completion of the Phase-In Period, the rate charged to High Point Talty shall not exceed any rate or effective volumetric rate charged to any other retail water utility that is a wholesale customer of the City.