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Prices in effect at the time the option period is exercised will remain in effect unless an adjustment is made in accordance with another contract clause (e.g., the Economic Price Adjustment (EPA) or Price Reductions clauses). Any request for such an adjustment must be submitted via formal modification request and should not be included with the response to this letter. A new EPA factor/rate may be negotiated at the time the extension is being reviewed. However, it will not take effect until the first day of the option period. If an annual escalation factor is awarded, price increases are effective on the 12-month anniversary date of contract award – no separate modification request is required.
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