Common use of Amendment proposals Clause in Contracts

Amendment proposals. (a) A proposal by the Operator or any other person to amend this agreement must be made in writing and include: (i) an outline of the proposed amendment; (ii) a description of, and an explanation of the reasons for, the proposed amendment; and (iii) to the extent reasonably practicable, an analysis of the costs and benefits of the proposed amendment. (b) Unless the Operator rejects a proposal in accordance with the National Gas Rules, within 40 Business Days of formulating or receiving a proposal for an amendment, the Operator must publish on its website: (i) the proposal; (ii) a notice in accordance with clause 3.3(b) or 3.4(b), as applicable; and (iii) an impact and implementation report prepared by the Operator containing: (A) a critical examination of the proposed amendment and its likely effect (including its costs and benefits); and (B) the Operator’s preliminary view on whether the proposed amendment or an alternative amendment should be made. (c) If the Operator rejects a proposed amendment under the National Gas Rules, the Operator must give the proponent written notice of the decision and the reasons for it. (d) If a proponent withdraws its proposal to amend this agreement, the process for considering the proposal lapses unless the Operator decides to adopt the proposal.