Examples of Contract Year 1 in a sentence
The values shown below are based on the following assumptions: • Initial Purchase Payment = $100,000 • Rider Effective Date = Contract Date • A subsequent Purchase Payment of $100,000 is received during Contract Year 1.
For an explanation of the values and activities at the start of and during Contract Year 1, refer to Examples #1 and #2.
Additionally, Seller may provide Notice to Buyer during Contract Year 1 or Contract Year 2 of the Delivery Term to request a one (1) time decrease to the Contract Quantity for any or all Contract Years in the Delivery Term Contract Quantity Schedule.
For example, if the first anniversary date of the effective date of this Contract is July 15, 2021 and Customer achieves a different tier for Contract Year 2 than was effective in Contract Year 1, then the price change as a result of the annual adjustment pursuant to this section and the tier adjustment will be scheduled to occur on the same date no later than July 30, 2021.
CDOT will not issue NTP1 until CDOT has Approved the SDBPP and Accepted the Contractor’s DBE Design Goal Utilization Plan and ESB Goal Utilization Plan for Contract Year 1, along with corresponding Commitment Confirmations (CDOT Design Build Form 1415).