BNYM Modifications Sample Clauses
The "BNYM Modifications" clause defines the right of The Bank of New York Mellon (BNYM) to make changes or amendments to the terms of an agreement or related documents. Typically, this clause outlines the process by which BNYM can implement such modifications, such as providing advance notice to the other party or specifying which types of changes require consent. For example, BNYM may update operational procedures or adjust service terms to comply with regulatory requirements. The core function of this clause is to provide flexibility for BNYM to adapt the agreement as needed, ensuring ongoing compliance and operational efficiency while informing the other party of significant changes.
BNYM Modifications. Company hereby accepts all such modifications, revisions and updates, including changes in programming languages, rules of operation and screen or report format, as and when they are implemented by BNYM, and agrees to take no action intended to have or having the effect of canceling, reversing, nullifying or modifying in any fashion the operation or results of such modifications, revisions and updates. BNYM will make Commercially Reasonable Efforts to give Company advance written notice before any such modifications, revisions or updates to the 22c-2 System go into effect.
BNYM Modifications. Company hereby accepts all such modifications, revisions and updates, including changes in programming languages, rules of operation and screen or report format, as and when they are implemented by BNYM, and agrees to take no action intended to have or having the effect of canceling, reversing, nullifying or modifying in any fashion the operation or results of such modifications, revisions and updates. BNYM will make Commercially Reasonable Efforts to give Company advance written notice before any such modifications, revisions or updates to the 22c-2 System go into effect. In the event a modification, revision or update has a materially adverse impact on Company’s ability to comply with Rule 22c-2 Company may terminate its use of the 22c-2 System and its obligation to pay fees for such use without payment of any termination fees or penalties.