Common use of Pricing Modifications Clause in Contracts

Pricing Modifications. The Price as specified in ANNEX C can be reviewed annually and adjusted if the Parties so agree in writing. In case of modifications, ANNEX C shall be amended accordingly. Either Party may initiate pricing discussions [***] based on substantial increase of labor or material cost or significant changes in the relevant Product markets in the Territory such as competitor pricing or any other material adverse changes in the Territory affecting the commercialization of the Product. In such a case, the Parties shall negotiate in good faith upon a mutual acceptable pricing modification. Such changes shall take effect immediately after the Parties have mutually agreed in writing upon the modifications.

Pricing Modifications. The Floor Price as specified in ANNEX C can be reviewed annually and adjusted if the Parties so agree in writing. In case of modifications, ANNEX C shall be amended accordingly. Either Party may initiate pricing discussions [***] based on substantial increase of labor or material cost or significant changes in the relevant Product markets in the Territory such as competitor pricing or any other material adverse changes in the Territory affecting the commercialization of the Product. In such a case, the Parties shall negotiate in good faith upon a mutual acceptable pricing modification. Such changes shall take effect immediately after the Parties have mutually agreed in writing upon the modifications.