Rate Modification. Service Provider may apply to the City in writing for consideration of a special rate review should an unforeseen event or circumstance arise which jeopardizes the economic operations of the Service Provider. A special rate review application shall be considered at the request of the Service Provider if one or more of the following occurs:
Rate Modification. The Parties acknowledge that certain proceedings may effect the pricing and terms of the agreement and, accordingly, agree as follows with respect to modification of the rates initially provided for herein:
Rate Modification. Commencing in January 2021, the Seller shall have the right to adjust or modify the wholesale rate set forth in paragraph 9 to reflect changes in the Seller’s cost of providing water service to the Purchaser. Thereafter, the Seller may adjust, from time to time, the wholesale rate, but not more frequently than once every two (2) years. Any increase or decrease in the wholesale rate shall be based on a demonstrable increase or decrease in the costs of performance hereunder.
Rate Modification. Commencing in 2021, the City shall have the right to adjust or modify annually the wholesale rates set forth in paragraph 12 and the Capacity Fees set forth in paragraph 13 to reflect changes in the City’s cost of treating the wastewater discharged by the District. Any increase or decrease in the wholesale rates shall be based on a demonstrable increase or decrease in the cost of performance hereunder.
Rate Modification. In an Event of Default other than Borrower’s failure to pay the Note as agreed, then, at Lxxxxx’s option and in lieu of applying the Default Rate, Lender shall have the right to modify the interest rate on the Note by adding an additional two percent (2%) to the interest rate then in effect at the time of such modification until such time that Borrower cures the Event of Default giving rise to such rate modification. Notwithstanding the foregoing, in the Event of Default arising out of Section 4.13 of this Loan Agreement, the Rate Modification as set out in this Section 7.2(c) will be reduced only after one full quarter of compliance with Section 4.13.
Rate Modification. Section 6.1 of Service Schedule I is hereby amended to read in its entirety as follows:
