Common use of Annual Operating Plan Clause in Contracts

Annual Operating Plan. 11.1 The Parties will coordinate the development of an annual operating plan ("AOP") setting forth the specific objectives, Service standards, performance measures, activity levels and a detailed budget setting out the cost estimates, types of services and allocation keys for each of the Services (collectively, the "AOP Objectives"). The Parties shall implement the AOP Objectives by January 1 of each calendar year. In the AOP process, the Parties agree to use their best efforts to harmonize the interests of Company to have quality services at affordable cost and the interest of Service Provider to recover its costs of performing the Services. On or before August 15 of each calendar year, the Company shall submit to Service Provider a list of the types of services required from Service Provider, upon which Service Provider shall establish its budget and cost estimate calculations for purposes of the AOP. On or before September 15 of each calendar year, an AOP for each Service for the next calendar year will be submitted to each of the Representatives of the Company and Service Provider, for review and approval. Approval by each Party's respective Representatives will constitute approval by the Parties of the AOP. In the event that the Parties do not approve the AOP in whole or in part in respect of any Service, the Service Provider shall have the right to terminate this Agreement (or any extension hereof entered into pursuant to clause 20.2 below) in respect of any such services upon ninety (90) days written notice to the Company.

Annual Operating Plan. 11.1 The Parties will coordinate the development of an annual operating plan ("“AOP"”) setting forth the specific objectives, Service standards, performance measures, activity levels and a detailed budget setting out the cost estimates, types of services and allocation keys for each of the Services (collectively, the "“AOP Objectives"”). The Parties shall implement the AOP Objectives by January 1 of each calendar year. In the AOP process, the Parties agree to use their best efforts to harmonize the interests of Company to have quality services at affordable cost and the interest of Service Provider to recover its costs of performing the Services. On or before August 15 of each calendar year, the Company shall submit to Service Provider a list of the types of services required from Service Provider, upon which Service Provider shall establish its budget and cost estimate calculations for purposes of the AOP. On or before September 15 of each calendar year, an AOP for each Service for the next calendar year will be submitted to each of the Representatives of the Company and Service Provider, for review and approval. Approval by each Party's ’s respective Representatives will constitute approval by the Parties of the AOP. In the event that the Parties do not approve the AOP in whole or in part in respect of any Service, the Service Provider shall have the right to terminate this Agreement (or any extension hereof entered into pursuant to clause 20.2 below) in respect of any such services upon ninety (90) days written notice to the Company.