Common use of Acceptance of Milestones Clause in Contracts

Acceptance of Milestones. Each Milestone identified in an Implementation Plan shall be subject to the acceptance procedures set forth in this Section. (1) BNY Mellon shall notify Voya upon completion of each Milestone. Voya shall determine whether each Milestone conforms to its Milestone Completion Criteria. If a Milestone meets its Milestone Completion Criteria, then Voya shall provide BNY Mellon with notice that such Milestone has been accepted. (2) If a Milestone fails to conform to its Milestone Completion Criteria or if BNY Mellon has failed to provide sufficient information for Voya to assess whether a Milestone conforms to its Milestone Completion Criteria, Voya shall notify BNY Mellon of such failure. Promptly after receiving such notice, BNY Mellon shall correct the Milestone such that it meets its Milestone Completion Criteria. BNY Mellon’s efforts to make such corrections shall be provided at no additional cost or expense to Voya. Upon completion of such corrections, BNY Mellon shall notify Voya of its completion of such Milestone. The process set forth in clause (1) and this clause (2) shall be repeated as necessary until the Milestone meets its Milestone Completion Criteria. (3) A Milestone shall be accepted upon the receipt by BNY Mellon of notice from Voya that such Milestone has been accepted. Acceptance shall in no way impair Voya’s rights under the representations and warranties set forth in Article 14 or act as a waiver of Voya’s rights or remedies under the Agreement.