Modifications to Product Prices Sample Clauses

Modifications to Product Prices. The Parties agree to meet, within 15 days, at either’s Request, if an exceptional change in economic circumstances (in particular freight prices, and the prices of materials and components) or statutory or regulatory modifications (in particular customs duties and taxes) occurring between the date of the notification of the Product Price list by the Vendor to the Purchaser and the delivery of all the Products ordered by the Purchaser disrupt the economy of the contract to the point of making the performance of its obligations seriously harmful to one of the Parties. In such event, the Parties undertake to renegotiate the financial terms of the order in a spirit of cooperation and fairness with a view to returning to a balanced situation similar to that which existed when the Prices were determined. During this renegotiation period, which may not exceed 1 month from the initial Request by one of the Parties, the order shall be suspended without indemnification. If no agreement has been reached at the end of negotiations, the order will be suspended without indemnification or extension and will be resumed by operation of law as soon as the exceptional circumstances cease. If, however, the aforesaid circumstances continue for more than 6 months as of the initial Request by one of the Parties, the order will be terminated at the simple request of one of the Parties.