– Market Prices: PRICE Adjustment Mechanism Sample Clauses

– Market Prices: PRICE Adjustment Mechanism. A “Market Price” is a price, which is fixed for a certain period of time. For Market Prices, the following applies: In order at any time to change the existing Market Price for any location, Seller shall send a written notification thereof to the Buyer specifying the location affected, the amount of the requested price change at that location and the date when the new Market Price will come into operation at that location (the "Effective Date"), which date shall be no less than fifteen (15) days from the date of the written notice. The new Market Price shall come into effect on the Effective Date unless Buyer contacts Seller as soon as possible (and, in any event, before the Effective Date) to contest the new Market Price. In such event the parties shall try to reach mutual agreement before the Effective Date on an acceptable revised new Market Price. If the parties do reach agreement, the mutually agreed revised new Market price shall become the applicable Market Price on the Effective Date. lf the parties cannot reach mutual agreement on the new Market Price by the Effective Date, Buyer shall have: the right, up to and including the fifteenth (15th) day following the Effective Date, to terminate the applicable Location Agreement by giving a written notice thereof to Seller. Whether or not such a notice of termination is served, the new Market Price proposed in the Seller's written notification shall come into operation on the Effective Date and all other terms and conditions of this Agreement applicable at that date shall remain valid and binding, provided however that, without prejudice to any notice of termination that may have been served, the Seller retains the right to change the Market Price at that location on no less than fifteen (15) days' written notice to the Buyer at any time.
Sample 1
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