Renewal Pricing Increases Sample Clauses
A Renewal Pricing Increases clause defines how and when the price for a product or service may be raised upon contract renewal. Typically, this clause specifies the maximum allowable percentage increase, the timing of notice required before implementing a price change, and any conditions or benchmarks that must be met for the increase to take effect. For example, it may state that renewal prices cannot exceed a certain percentage above the previous term’s rate or must align with a specific inflation index. The core function of this clause is to provide transparency and predictability for both parties regarding future costs, thereby preventing unexpected or excessive price hikes at the time of contract renewal.
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Renewal Pricing Increases. Pricing shall remain firm and fixed during the Initial Term of this Agreement. Any renewal price adjustment shall be subject to negotiation and must be approved by the City of Ocala. Vendor shall submit a written request for price adjustment identifying the reason for the price increase, and attach suitable documentation in support of same, no less than NINETY (90) DAYS prior to the expiration of the then existing Contract Term. No retroactive price adjustments will be allowed. Pricing increases shall not exceed the lesser of: (i) the amount of the percentage increase reflected in the Consumer Price Index for all Urban Consumers (CPI-U), not seasonally adjusted, based upon the most recent TWELVE (12) MONTH period; or (ii) THREE PERCENT (3%) ANNUALLY unless there are mitigating market conditions.
Renewal Pricing Increases. Any and all renewals shall be subject to a maximum negotiated price increase of no more than THREE PERCENT (3%) above the pricing set forth in Exhibit B - Price Proposal.