Extraordinary Adjustment to Maximum Service Rates Sample Clauses

Extraordinary Adjustment to Maximum Service Rates. 4.09.1 If a Material Change in Law occurs after the date hereof, then CITY and CONTRACTOR shall negotiate in good faith a reasonable and appropriate adjustment to Maximum Service Rates sufficient to offset CONTRACTOR’s increased allowable costs of operation or reduced Gross Xxxxxxxx resulting from the Material Change in Law. As an exception to the preceding sentence, CONTRACTOR shall not be entitled to an adjustment in Maximum Service Rates with respect to the first 0.5% of annual revenue in increased costs or decreased revenues incurred by CONTRACTOR resulting from the Material Change in Law.

Extraordinary Adjustment to Maximum Service Rates. 4.18.1 If a Change in Law or Material Uncontrollable Circumstance affecting Contractor’s costs occurs after the date hereof, then Contractor may apply to the City for an extraordinary adjustment to Contractor’s Maximum Service Rates. As a condition of applying for an extraordinary rate adjustment, the Contractor shall pay the City a fee of Twenty-Five Thousand Dollars ($25,000) to defray the City’s costs in reviewing and processing Contractor’s application. Contractor must reimburse the City for any cost to the City above $25,000. City and Contractor shall negotiate in good faith a reasonable and appropriate adjustment to Maximum Service Rates sufficient to offset Contractor’s increased allowable costs of operation or reduced Gross Xxxxxxxx resulting from the Change in Law or Material Uncontrollable Circumstance.