Common use of Price Modifications Clause in Contracts

Price Modifications. i. Price Increases a. Contractor may request an increase in the prices listed in Exhibit C by submitting its request to the State in writing as described in §17 of the main body of this Contract. Requests for increases in prices are limited as follows: b. Contractor may not submit a request for a price increase to the State fewer than 3 days prior to when Contractor intends those increased prices to be effective. c. The State may approve or deny any request for a price increase based on the information provided by Contractor and other circumstances in its sole discretion. d. If the State approves a price increase, that price increase shall not take effect unless it is included in this Contract. e. Contractor may only begin using the increased prices in Orders that are issued following the effective date of the modification that increases the prices. For Orders placed prior to a price increase that are in effect at the time of the price increase, Contractor shall only charge the Purchasing Entity the prices that were in effect at the time the Order was placed. f. If the State does not approve a price increase, or Contractor increases its prices without submitting a request to the State, then those increased prices shall be void in any Order in which they are used and Contractor shall fulfill the Order at the existing rates approved by the State under this Contract. Contractor’s use of rates in any Order that exceed those approved by the State under this Contract shall be a material breach of this Contract. ii. Price Decreases and Ceiling Prices a. Contractor may decrease its prices shown in Exhibit C at any time by providing written notice to the State. b. The prices listed in Exhibit C are Ceiling Prices, and Contractor may offer lower prices to Purchasing Entities, and Purchasing Entities may negotiate lower prices with Contractor, without the review or approval of the State. Contractor shall not allow a Subcontractor to charge an amount greater than the Ceiling Price for any Order. 1. GOODS AND/OR SERVICES

Price Modifications. i. Price Increases a. Contractor may request an increase in the prices listed in Exhibit C by submitting its request to the State in writing for the as described in §17 of the main body of this Contract. Requests for increases in prices are limited as follows: b. Contractor may not submit a request for a price increase to the State fewer later than 3 days prior to when Contractor intends those increased prices to be effectiveJune 30, 2025. c. The State may approve or deny any request for a price increase based on the information provided by Contractor and other circumstances in its sole discretion. d. If the State approves a price increase, that price increase shall not take effect unless it is included in this Contract. e. Contractor may only begin using the increased prices in Orders that are issued following the effective date of the modification that increases the prices. For Orders placed prior to a price increase that are in effect at the time of the price increase, Contractor shall only charge the Purchasing Entity the prices that were in effect at the time the Order was placed. f. If the State does not approve a price increase, or Contractor increases its prices without submitting a request to the State, then those increased prices shall be void in any Order in which they are used and Contractor shall fulfill the Order at the existing rates approved by the State under this Contract. Contractor’s use of rates in any Order that exceed those approved by the State under this Contract shall be a material breach of this Contract. ii. Price Decreases and Ceiling Prices a. Contractor may decrease its prices shown in Exhibit C at any time by providing written notice to the State. b. The prices listed in Exhibit C are Ceiling Prices, and Contractor may offer lower prices to Purchasing Entities, and Purchasing Entities may negotiate lower prices with Contractor, without the review or approval of the State. Contractor shall not allow a Subcontractor to charge an amount greater than the Ceiling Price for any Order. 1. GOODS AND/OR SERVICES