Common use of EXTRAORDINARY RATE ADJUSTMENTS Clause in Contracts

EXTRAORDINARY RATE ADJUSTMENTS. ‌ The Contractor may petition the County in writing at times other than that allowed under 10.4 (Annual Rate Adjustment) for an adjustment in the maximum rates due to (i) extraordinary circumstances beyond the Contractor’s reasonable control, or (ii) due to new programs and services requested by County as provided herein. The Contractor shall provide documentation and analysis to the satisfaction of County of the reasons for such adjustment. Petitions regarding extraordinary circumstances beyond the Contractor’s control shall satisfy all of the following conditions: (i) materially alters Contractor’s operations or overall costs; (ii) could not reasonably have been foreseen by a prudent operator; and (iii) by all reasonable expectations will continue for a period of at least six (6) months. Such changes shall not include changes in the market value of Recyclables or inaccurate estimates by the Contractor of its cost of operations. The Contractor’s request shall contain substantial proof and justification to support the need for the adjustment. For each request brought pursuant to this section Contractor shall prepare a schedule documenting the extraordinary costs. Such request shall be prepared in a form reasonably acceptable to the County with support for assumptions made by the Contractor in preparing the estimate. The Contractor shall also submit a schedule showing how its total costs and total revenues have changed over the past two years for the services provided under this Agreement. The County may request from the Contractor such further information as reasonably necessary to fully evaluate the request and make its determination. County may request a copy of the Contractor’s annual financial statements in connection with the County’s review of the Contractor’s rate adjustment request. County shall review the Contractor’s request and, in Board’s sole judgment and absolute, unfettered discretion, make the final determination as to whether an adjustment to the maximum rates will be made, and, if an adjustment is permitted, the appropriate amount of the adjustment. The Board may consider increases or decreases in the Contractor’s total revenues and total cost of services when reviewing an extraordinary rate adjustment request. The County and the Contractor may agree to make changes in the service levels under this Agreement sufficient to avoid the need for a rate adjustment. Extraordinary rate adjustments shall only be effective after approval by the Board and may not be applied retroactively.

EXTRAORDINARY RATE ADJUSTMENTS. ‌ The Contractor CONTRACTOR may petition the County CITY in writing at times other than that allowed under 10.4 (Annual Rate Adjustment) for an adjustment in the maximum rates due to (i) extraordinary circumstances beyond the ContractorCONTRACTOR’s reasonable control, or (ii) due to new programs and services requested by County CITY as provided herein. The Contractor CONTRACTOR shall provide documentation and analysis to the satisfaction of County CITY of the reasons for such adjustment. Petitions regarding extraordinary circumstances beyond the ContractorCONTRACTOR’s control shall satisfy all of the following conditions: (i) materially alters ContractorCONTRACTOR’s operations or overall costs; (ii) could not reasonably have been foreseen by a prudent operator; and (iii) by all reasonable expectations will continue for a period of at least six (6) months. Such changes shall not include changes in the market value of Recyclables or inaccurate estimates by the Contractor CONTRACTOR of its cost of operations. The ContractorCONTRACTOR’s request shall contain substantial proof and justification to support the need for the adjustment. For each request brought pursuant to this section Contractor CONTRACTOR shall prepare a schedule documenting the extraordinary costs. Such request shall be prepared in a form reasonably acceptable to the County CITY with support for assumptions made by the Contractor CONTRACTOR in preparing the estimate. The Contractor CONTRACTOR shall also submit a schedule showing how its total costs and total revenues have changed over the past two years for the services provided under this Agreement. The County CITY may request from the Contractor CONTRACTOR such further information as reasonably necessary to fully evaluate the request and make its determination. County CITY may request a copy of the ContractorCONTRACTOR’s annual financial statements in connection with the CountyCITY’s review of the ContractorCONTRACTOR’s rate adjustment request. County CITY shall review the ContractorCONTRACTOR’s request and, in Board’s sole judgment and absolute, unfettered discretion, make the final determination as to whether an adjustment to the maximum rates will be made, and, if an adjustment is permitted, the appropriate amount of the adjustment. The Board may consider increases or decreases in the ContractorCONTRACTOR’s total revenues and total cost of services when reviewing an extraordinary rate adjustment request. The County CITY and the Contractor CONTRACTOR may agree to make changes in the service levels under this Agreement sufficient to avoid the need for a rate adjustment. Extraordinary rate adjustments shall only be effective after approval by the Board and may not be applied retroactively.

EXTRAORDINARY RATE ADJUSTMENTS. ‌ The Contractor may petition the County in writing at times other than that allowed under 10.4 (Annual Rate Adjustment) for an adjustment in the maximum rates due to (i) extraordinary circumstances beyond the Contractor’s reasonable control, or (ii) due to new programs and services requested by County as provided herein. The Contractor shall provide documentation and analysis to the satisfaction of County of the reasons for such adjustment. Petitions regarding extraordinary circumstances beyond the Contractor’s control shall satisfy all of the following conditions: (i) materially alters Contractor’s operations or overall costs; (ii) could not reasonably have been foreseen by a prudent operator; and (iii) by all reasonable expectations will continue for a period of at least six (6) months. Such changes shall not include changes in the market value of Recyclables or inaccurate estimates by the Contractor of its cost of operations. The Contractor’s request shall contain substantial proof and justification to support the need for the adjustment. For each request brought pursuant to this section Contractor shall prepare a schedule documenting the extraordinary costs. Such request shall be prepared in a form reasonably acceptable to the County with support for assumptions made by the Contractor in preparing the estimate. The Contractor shall also submit a schedule showing how its total costs and total revenues have changed over the past two years for the services provided under this Agreement. The County may request from the Contractor such further information as reasonably necessary to fully evaluate the request and make its determination. County may request a copy of the Contractor’s annual financial statements in connection with the County’s review of the Contractor’s rate adjustment request. County shall review the Contractor’s request and, in Board’s sole judgment and absolute, unfettered discretion, make the final determination as to whether an adjustment to the maximum rates will be made, and, if an adjustment is permitted, the appropriate amount of the adjustment. The Board may consider increases or decreases in the Contractor’s total revenues and total cost of services when reviewing an extraordinary rate adjustment request. The County and the Contractor may agree to make changes in the service levels under this Agreement sufficient to avoid the need for a rate adjustment. Extraordinary rate adjustments shall only be effective after approval by the Board and may not be applied retroactively.