Common use of Increases in Annual Service Fee Clause in Contracts

Increases in Annual Service Fee. (a) The Annual Service Fee shall be adjusted on July 1 of each calendar year commencing on July 1, 2014, by an amount equal to the change rounded to four decimal places of the Producers Price Index-Commodities-Finished Goods, (PPI), et al. (“PPI”), produced by the U.S. Department of Labor, Bureaus of Labor Statistics; provided that the Annual Service Fee shall never be increased by more than 3% for any such calendar year. If the PPI index change is negative in a given year then there will be no change in the Annual Service Fee. If the above index is no longer published, the Parties shall negotiate in good faith to agree on a new index that gives comparable protection against inflation and the same method of adjustment for increases or decreases in the new index shall be used to calculate increases or decreases in the Annual Service Fee. If Delek Logistics and Lion are unable to agree, a new index will be determined by arbitration in accordance with Section 9.1.

Appears in 1 contract

Samples: Site Services Agreement (Delek Logistics Partners, LP)

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Increases in Annual Service Fee. (a) The Annual Service Fee shall be adjusted on July 1 of each calendar year commencing on July 1, 2014, by an amount equal to the change rounded to four decimal places of the Producers Price Index-Commodities-Finished Goods, (PPI), et al. (“PPI”), produced by the U.S. Department of Labor, Bureaus of Labor Statistics; provided that the Annual Service Fee shall never be increased by more than 3% for any such calendar year. If the PPI index change is negative in a given year then there will be no change in the Annual Service Fee. If the above index is no longer HOU03:1337007 9 published, the Parties shall negotiate in good faith to agree on a new index that gives comparable protection against inflation and the same method of adjustment for increases or decreases in the new index shall be used to calculate increases or decreases in the Annual Service Fee. If Delek Logistics Marketing and Lion Delek Refining are unable to agree, a new index will be determined by arbitration in accordance with Section 9.1.

Appears in 1 contract

Samples: Site Services Agreement (Delek Logistics Partners, LP)

Increases in Annual Service Fee. (a) The Annual Service Fee shall be adjusted on July 1 of each calendar year commencing on July 1, 20142015, by an amount equal to the change rounded to four decimal places of the Producers Price Index-Commodities-Finished Goods, (PPI), et al. (“PPI”), produced by the U.S. Department of Labor, Bureaus of Labor Statistics; provided that the Annual Service Fee shall never be increased by more than 3% for any such calendar year. If the PPI index change is negative in a given year then there will be no change in the Annual Service Fee. If the above index is no longer published, the Parties shall negotiate in good faith to agree on a new index that gives comparable protection against inflation and the same method of adjustment for increases or decreases in the new index shall be used to calculate increases or decreases in the Annual Service Fee. If Delek Logistics and Lion are unable to agree, a new index will be determined by arbitration in accordance with Section 9.1.

Appears in 1 contract

Samples: Site Services Agreement (Delek Logistics Partners, LP)

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Increases in Annual Service Fee. (a) The Annual Service Fee shall be adjusted on July 1 of each calendar year commencing on July 1, 20142015, by an amount equal to the change rounded to four decimal places of the Producers Price Index-Commodities-Finished Goods, (PPI), et al. (“PPI”), produced by the U.S. Department of Labor, Bureaus of Labor Statistics; provided that the Annual Service Fee shall never be increased by more than 3% for any such calendar year. If the PPI index change is negative in a given year then there will be no change in the Annual Service Fee. If the above index is no longer published, the Parties shall negotiate in good faith to agree on a new index that gives comparable protection against inflation and the same method of adjustment for increases or decreases in the new index shall be used to calculate increases or decreases in the Annual Service Fee. If Delek Logistics Marketing and Lion Delek Refining are unable to agree, a new index will be determined by arbitration in accordance with Section 9.1.

Appears in 1 contract

Samples: Site Services Agreement (Delek Logistics Partners, LP)

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