Toll Rate Changes Sample Clauses
The Toll Rate Changes clause establishes the terms under which toll rates may be adjusted during the course of an agreement. Typically, it outlines the procedures for proposing, reviewing, and implementing changes to the rates charged for using a toll facility, and may specify factors such as inflation, regulatory approval, or performance metrics that trigger adjustments. This clause ensures that both parties understand how and when toll rates can change, providing predictability and a mechanism to address changing economic conditions or operational costs.
Toll Rate Changes. The Participant is exclusively authorized to make and be responsible for any toll rate changes at the Facility in accordance with applicable law and a Comprehensive Agreement, if any. The Participant will communicate any toll rate changes to VDOT and the ETC Servicer in accordance with a Comprehensive Agreement, if any, or if the Participant has not entered into a Comprehensive Agreement, at least fifteen (15) business days prior to implementation to allow for modifications to the ETC systems and related charges and modifications.
Toll Rate Changes. The Participant is exclusively authorized to make and be responsible for any toll rate changes at the Participant’s toll facilities in accordance with applicable law and the Comprehensive Agreement.