Common use of Rate Adjustment Clause in Contracts

Rate Adjustment. After commencement of service, GEOARM may annually increase the monthly monitoring charge. In the event an increase exceeds 10% per year and CLIENT is unwilling to pay the increased charges, CLIENT may terminate this agreement and CLIENT will not be subject to any payments for liquidated damages, upon giving notice via email or in writing, by registered mail, within (30) days from the date of notice of the increase. CLIENT’S failure to notify GEOARM within said (30) days shall constitute CLIENT’S acceptance of the rate adjustment.