Increases in the Minimum Clause Samples
The "Increases in the Minimum" clause establishes the conditions under which the minimum required amount—such as rent, purchase quantity, or service level—may be raised during the term of an agreement. Typically, this clause outlines the timing, frequency, and method for adjusting the minimum, such as annual percentage increases or adjustments tied to inflation indices. Its core practical function is to ensure that the minimum obligation keeps pace with changing economic conditions or business needs, thereby protecting the interests of the party entitled to receive the minimum.
Increases in the Minimum a) Effective July 1, 2018:
i. the formula for calculating the minimums for jobs with less than 314 points is: Evaluation points x $80.77 + 27,470
ii. The formula for calculating the minimums for jobs with 314 points or more is: Evaluation points x $82.33 + 28,004
b) Effective July 1, 2019, the formula for calculating the minimums for all job is: Evaluation points x $83.36 + 28,354
c) Effective July 1, 2020, the formula for calculating the minimums for all jobs is: Evaluation points x $84.82 + 28,850
Increases in the Minimum a) Effective July 1, 2014, the formula for calculating the minimums for jobs with less than 314 points is: Evaluation points x $77.04 + $26,203.
b) The formula for calculating the minimums for jobs with 314 points or more is: Evaluation points x $78.53 + $26,712.
c) Effective July 1, 2015, the formula for calculating the minimums for jobs with less than 314 points is: Evaluation points x $77.81 + $26,465.
d) The formula for calculating the minimums for jobs with 314 points or more is: Evaluation points x $79.32 + $26,979.
e) Effective July 1, 2016 after adjustments are made as described in Article 25.22 a), the minimums and maximums will increase as indicated below:
i) For jobs with less than 314 points the adjustment will be 1.25%. The formula for calculating the minimums is to be: Evaluation points x $78.78 + $26,796.
ii) For jobs with 314 points or more the adjustment will be 1.25%. The formula for calculating the minimums is to be: Evaluation points x $80.31+ $27,316.
f) Effective July 1, 2017 after adjustments are made as described in Article 25.23 a), the minimums and maximums will increase as indicated below:
i) For jobs with less than 314 points the adjustment will be 1.25%. The formula for calculating the minimums is to be: Evaluation points x $79.77 + $27,131.
ii) For jobs with 314 points or more the adjustment will be 1.25%. The formula for calculating the minimums is to be: Evaluation points x $81.31 + $27,658.